T05 - Why build your Network Asset in advance

Why build your Network Asset in advance?

It helps when you think of the network you build as “the beast that feeds all other beasts.”

Are you building your network to support:

• An existing business or career?
• To support as yet undiscovered possibilities?
• Both?

When you started your current business, what if you started with a much larger number of people who would advocate for you? In other words, you had already started building your team of team building advocates, and as a result, you had developed a large number of know, like and trust relationships?

Typically you build trust by helping others meet great contacts. Those you have built trust with are then usually keen to reciprocate by introducing you to relevant others.

Would building a network in advance make the transition from employee to business owner safer?

We often encourage aspiring business owners to

(1) Define the End Goals they want to achieve from building a business

(2) Expect to find great business ideas in the process of building their network

(3) Build trust with a large number of people before starting their business so that they will have many others advocating for them when they launch their business

Our motto is network first, ideas second.

Building trusted relationships are easy when you clearly have no agenda because you do not currently have a business. However, what you have to offer, which is of great value to others, is the people you know in the team you are building and that you have met in the CC.

How many of your income-producing activities can your growing network contribute to?

As you build your network, it’s easy to find other business owners with whom you can structure a commercial arrangement. In addition, you can discover great potential customers or partners for business associates for such commercial partners.

Such commercial arrangements could mean you generate hands-off (and potentially ongoing) income generated from referrals - a very nice consequence of building your network.

Don’t wait till you have a pressing need for a network till you start building one!

• Networks are not good at feeding desperation!
• Know Like, and trust relationships are not developed overnight!
• Dig the well before you need the water!