Written By Andrea Henderson
“Your network equals your net worth.” – Warren Buffett
In an old Huff Post article titled “Why Your Network is Your Net Worth,” Porter Gale explains that “your social capital, or your ability to build a network of authentic personal and professional relationships, not your financial capital, is the most important asset in your portfolio. I believe that seeking out and working in collaboration with others who share your interests and values will provide a stronger foundation, enabling you to reach a higher level of success than you would on your own.”
She goes on to provide 3 compelling reasons why this is truer now than ever before:
1. There is less job security now than in years past
2. Employers are increasingly leveraging employee referrals to make hires
3. Technology is rapidly accelerating the pace and capability of individuals networking
4. Connections increase happiness
Read the full article here.
If you’d like to increase your visibility with your “tribe” of cheerleaders, supporters, simpáticos, or compadres, find the people who will “stan” for you, vouch for you, buy from you and refer you for opportunities that may or may not be advertised publicly, and also connect to industry leaders, hiring managers, and future business partners or colleagues, LinkedIn is an excellent platform. But how do you do this? The simple answer is that you must engage, engage, engage!
This concept may seem overwhelming to you or perhaps you haven’t quite figured out how to do this consistently on LinkedIn with a busy schedule or engagement on multiple platforms. Don’t give up. That dream job or exciting new business opportunity is within reach but you need a system. I have discovered an effective system that includes just three simple actions. I learned about this system from celebrity entrepreneur and business leader, Gary Vaynerchuk (aka Gary Vee). His approach has worked like magic for him and others, including me. He calls it the “$1.80 Strategy” but I’ve adapted it and will call it the “18 Cents Strategy” and here’s how it works.
All you have to do is provide your “.02 cents” by posting, commenting, and reaching out.
1. POST: Share your .02 cents by writing 3 posts about your experiences within your industry. You can share information you’ve received from books or articles that you’ve read or trainings or conferences that you’ve attended or led. Your posts that describe your views and strategies should add value to your current connections and others who might read them through your hashtags. Just make sure you stay tuned to trending topics and provide your own unique perspective.
2. COMMENT: Comment publicly with your 0.02 cents on 3 other articles or LinkedIn status updates from individuals with whom you’d like to build a relationship. This will act as a “virtual networking mixer”, where you interact with others within your industry. Maybe it’s someone you want to work with in the future or a current leader in your organization? This will help your counterparts learn more about you without a huge commitment for a meeting or scheduled call. Follow and pay attention to posts by industry professionals, people in professional or interest groups and those that fall under hashtags that relate to your community of interest, and then jump in the conversation.
3. REACH OUT TO GROUP MEMBERS: Send a direct message to 3 group connections. Share your .02 cents in their message box. You can also thank professionals in your field for their .02 and add a bit of your insight and knowledge from your experiences in the message as well. What is most important is that these messages are personal, tailored and not spammy. Only message people whom you are genuinely interested in engaging with about topics you share a mutual interest. If appropriate, you might ask them if they would like to connect with you directly and/or continue the conversation. You just might find enough common ground to become a source of information and inspiration to each other.
At the end of the day, by undertaking these three activities and providing .02 cents three times each, you will have offered your $0.18 (3 x 2 x 3) to the construction of the community of leaders, executives, and/ or colleagues you seek to build. As you provide information to your connections on relevant topics and share more of who you are and how you think, you build trust that can lead to genuine relationships. The ultimate goal is to not only stand out from the crowd but to build and grow genuine relationships. As Gary Vee says “every relationship has value”, and your .02 gems are bound to lead to the real treasure – a community of supportive and interesting people. Read Gary Vee’s article here.
I’d love your thoughts on this strategy. Please comment below or send me a message.