Why Your Network Is Your “Net Worth”…

 Increase your income . . . by changing networks to people who make more than the last group you networked with. Surround yourself with people who make more than you and you’ll . . . .

 

Increase income, increase number of clients, increase the income per client and increase must about everything about your coaching/consulting business.

Every time I increase the value of those I network with, I also increase my income, the amount made from each coaching/consulting sale, number of clients, and several other key things in my business

  1. My income per client goes up at about the same rate as the increase in value of those I network with. If you network with people who have an average personal income or business income of $100K and move to people that make $500K, you’ll see your personal income and your business income go up by at least 5 times.
  2. The People in that network provide a proportionate increase in value to me, their services add value to my business
  3. Value of referrals increase, and number of referrals increase
  4. Strategic partners — their reach is further, bigger, faster.
  5. Everything is bigger, better, and faster.

The higher the value of the people in your network the higher the return from meeting those people.

Tony Robbins tells a story that is a perfect example of this.

He was coaching Robert Fulghum, the author of “All I Need to Know I Learned in Kindergarten”. Robert turned to Tony to ask, “I don’t get it. You’re approaching a billion dollars of income, and I’m stuck at a million, what’s the secret?”

Tony asked, “Who do you network with?”

Robert replied, “Other people like me, other millionaires.”

Tony said, “That’s your problem.

When you network with other people like you, you get what you’ve always gotten. If you are a millionaire, networking with other millionaires, you’ll only learn what other millionaires know about becoming a millionaire, and if you are already one, sometimes you aren’t learning anything new. Plus, you are getting referrals to other millionaires just like you.

“But, when you network with billionaires, you’ll learn how to become a billionaire, which in your case would be learning how to make 1,000 times more than you make now. You’ll learn all of their tricks that made them what they are.

“And, the referrals from billionaires to other billionaires are about a 1,000 times more valuable than a referral to a millionaire. So, where do you think you should be networking?”

 

I realize that moving to networking with billionaires may seem like a reach for most of us. But the principle applies at whatever level you are. It’s about incresing the value of those you surround yourself with which will increase your income proporionately.

Let me share a story of mine.

It was maybe 3 years ago that I reached out to work with some of the bigger marketers around the internet. It started when I got an email from one of the bigger internet marketing coaches who was doing a nationwide tour with his workshops in several major cities. I had followed him for a long time, but when he was coming to Kansas City I signed up. Shortly thereafter he canceled “due to low turnout.”

I emailed him with an offer to help him fill the seats in Kansas City. After a few months of back and forth emails he did decide to do a workshop in Kansas City with my help, and we filled the seats here. During that workshop I mentioned my marketing message, and a couple of other things that I help my clients do measurable. It did what is was supposed to do . . . get his attention. Something I said about how much progress my clients achieve he hadn’t been achieving so he wanted it. The result was that he started bringing me into some of his online forums, and teleseminars to share how I was doing that with his clients and getting referrals.

At that time my outreach to him was mostly “by accident”, but today I reach to higher levels, more successful people on purpose, and show my clients how to achieve those results. Now I purposely surround myself with higher and higher levels of people. 

But, next he invited me to the “Top 20 Internet Marketers Summit” in San Francisco, another step up in value of those to network with. Since that time, not only have I had the opportunity to work with them by filling in the gaps in their skills, and their filling the gaps in my skills. Growth comes rapidly that way. 

I also get several calls a month from that group of top internet experts with referrals to their clients, and even calls to participate in their teleseminars, teleseminars where there are 1,000’s attending, not 100’s where I had been operating. The result is that I experienced another leap upward in my skills as I hired people to take me to new levels at the same time I got significant new business directly from them, and referrals from them.

Surround Yourself with Constantly Increasing  Value

My income increased suddenly, and my skills have as well, simply by surrounding myself with people who made more than me.

That’s what happens when you surround yourself with higher and higher value . . . . not only people that make more . . . that can hire you for ever increasing amounts of money . . . but you will also discover that there rae others networking in those groups that have much more skill in delivering to this higher client value than you have . . . and you’ll be drug right along with them to this new success.

In other words, REACH higher, increase the value of the people you network with. If you’ve networked with people or businesses that make only $100K, then reach for $500K to $1M. Then reach to $10M to $100M, $100M to $1B.

I cannot emphasize that enough. It will shock you with the increased results.

Don’t reach too far too fast however. You almost have to earn your right to network there. So, if you’ve been delivering coaching results to $100K businesses, move up to $500K to $1M and develop a track record there, then $10M to $100M.

This doesn’t matter what kind of a coach you are.

  • Life coach — look at the personal income levels you’ve been mingling with, and find opportunities to reach higher. The $50K income level finds it hard to spend money on coaching, and even has a mindset of not spending, while the barrier over $100K has already started spending to make even more. You’ll find stair steps, $50K, $100K, $250K, $500K, $1M, $10M. Each has it’s own networking places and it’s own mindsets about life and hiring people like you. You’ll find them in different social events, charity events, business events.
  • Business Coach — pretty much the same comments for life coach when networking in social and personal events, but when networking in business events there is  clear difference in where you’ll find the under $100K business, the $500K to $1M business, and the above $1M business owners and executives. Under $100K you’ll find them in the every day Chamber Events, Business Networking events, LinkedIn, Lions, Optimists, Soroptimists, Rotary, etc. But once you start moving higher, the owners and executives don’t network “to get new business” they network more for “building their status, and connections to other people like them, or . . . as I’ve said here . . . . to reach higher.” I’m sure you’ve heard negative comments about those that are reaching higher for status. I can’t think of that phrase right now, but it’s frequently looked on as a negative activity by those who aren’t or can’t do it. But. when you reach higher your income and your level of success will go up proportionately.  In ffact I’ve discovered that it is far easier to get hired by, and to achieve more significant results with higher income level businesses simply because they are used to spending money to get help moving higher. And you will discover that too when you surround yourself with others who can help you move up. You start succeeding by networking higher, and then you hire others that are more successful than you to show you the next step, the next, and the next. Accelerate upwards.
  • Career Coach — same thing. Would you rather coach a street person on making more money, a $20K income person, or a $1M person in achieving higher levels.
  • Marriage coach — There are lots of people having marriage problems at the lower levels, but few can or will spend money to get help with their marriage. Financiallly desparate clients are not a good sign for your business. However, financially secure, but marriage desparate are. That’s probably a good definition of an ideal client for any type of coach.
Look for financially secure, but technically desparate and frustrated clients
(technically desparate meaning that if you are a life coach look for those having trouble with life situations (that’s the technical part, but financially secure. They will spend money to get the help without looking back. Financially desparate AND life desparate move closer to the street peope who wouldn’t’ and can’t hire you. Just assume that the more financially secure they are the easier they will be to get them as clients).
 
For the business coach, the technical is not knowing how to resolve business problems. For the Career coach the technical issue is acquiring a job, a better job, getting one faster, moving up within the same organization, etc, but the more financially secure, the easier they will be to let go of their money to buy that new level of success.
 
In fact, whether we are talking about just plain networking, or your outreach in other areas of marketing for your business, the higher you reach economically the more you will make easier and faster.
 
When I was selling to businesses less than $100K I found that they found it very difficult to spend money to resolve their problems, so my sales success was low. In fact, they are buying t the low end of the programs I sell, won’t keep buying as often even when they have success. They are more accustomed to “avoid spending” than “growing by investing” even when I teach them the right way. It’s simple . . . their own mindset is the problem, not you or your sales technique. I used to believe that, as a coach, I’m supposed to be good at changing their mindset, but what I finally discovered is that I don’t need to fight their beliefs, just find those that already believe in hiring to fix a problem and my sales will go up fast. In stock market investing they would say “don’t fight the trend.” The trend amont the lower income levels is “don’t spend.” So, move where the trend is in your favor and you will not have to fight the trend.
 
When I moved upward to the $500K to $1M range, my sales success approached 30%, but above $1M it moves to 75% sales close ratio.
 
But when moving even higher, I discovered that the size of the sale moves upward significntly, by $10’s of thousnds of dollars, and they stay around longer, much longer. They just keep coming back  . . . As long as they get a decent Return on Investment, they’ll keep buying month after month after month.
 
When I set down with  $50M business, we’ll be talking about $500K that they are spending on marketing activities. I’m not greedy. I’ll be happy with $50K to $100K of that while offering to do most of that work, and they love to hand it to me.
 
Is something like that appealing to you? Would you like to learn how to do that?
 
Or would you just be happy to know how those techniques could increase your level of income from where you are now, to 2-3 times higher?
 
So, where can you step up one or two notches as to where you are networking now?
 
What is the next level of income, and value among your marketing for new clients? Where will you find them?
 
What is your “offer they can’t refuse”? Will you have to raise the value of that offer to fit this new market?
 
Alan Boyer  — Get Coaching Clients, Get More Valuable Coaching Clients
Helping coaches, consultants, trainers reach another $100K to $250K within 3-6 months and to stop playing at building a business.

One Response to Why Your Network Is Your “Net Worth”…

  • Debbiedew says:

    Good and great article, Alan. I have now a picture of my clients. I am formulating my message and this article is helping stay in the right direction.
    Debbie

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