Is a Networking Business Good for Wealth Generation?

We’d like to think it is. So much so, that we’ve built an entire company around it!

There’s a science and art to creating and building world-class connections. When you’re in the correct mindset of nurturing your network you will see positive things happen. But not everyone realizes this. And educating people with this knowledge and teaching the proper way to form foundations for significant relationships helps individuals increase their social capital and potential for success.

In our lives we encounter three forms of capital:

1. Physical Capital – the money and assets you own (homes, cars, etc.)
2. Human Capital – what you have learned (the degrees you have)
3. Social Capital – the people in your life (and the relationships you have with them)

Many monitor and measure their physical and human capital. But arguably the most valuable is your social capital; however, not a lot of people actually focus on this. Don’t get me wrong, all three forms are very meaningful! But your relationships really matter: you can always count on them, they’ll personally support and help you succeed, keep you mentally fit and feeling right, and generally are good for your health.

As said by journalist Vivian Giang: “In your career, you earn currency with those in power. Unfortunately, most people focus on building up their performance while forgetting to build their relationship currency.” And having the means to educate others about how vital relationship-building is through networking is important.

Here are some revenue sources to consider for your networking business:

· You can get paid for your content

· You can get paid to speak

· You can get paid to be a broker of sorts

· You can get paid to endorse other’s products and services

My friends Joe Mindak and Frank Agin brought a great idea to fruition: they formed networking groups as franchises. As a franchise owner this produces a reliable revenue stream. In addition, they’ve also incorporated ways to provide value to and also benefit from the business potential and opportunities that are generated through the groups.

Creating connections and fostering relationships with others should not be an afterthought. But rather it should be on the forefront for everyone, in any job role, within every organization. Providing this knowledge through a networking business can be very rewarding.

Make it a great day and remember to always NetWorkWise!