6:12am here in Dallas and I just finished reading my 2nd book for the month.
The author generated over $500 million through his companies before he passed away about ten years ago. Much of his success, he claimed, was due to the power of his relationships and his thirst for knowledge.
My big takeaway? 3 factors that determine your success:
“Your success is dependent on what you know, who you know, and who knows you.”
There are, of course, others like your consistency and work ethic. But for today, let’s stick with these three.
What You Know
We all know network marketing produces a hell of a lot of success stories. But let’s face it… it also produces even more failures.
It’s the same with any entrepreneurial venture… the 20/80 rule is always in effect. 80% of the results in life are produced by 20% of the people.
Of the “successful”, the 80/20 rule applies there as well. 20% of the successful produce 80% of the income. The question is… how do you get into the top 20% of the 20%?
I think it goes without saying – you better make sure your knowledge level is in the top 20% of 20%. Most fail because they’re not willing to invest their time and money into the knowledge required to succeed.
Personally, because I have an obsessive level of drive, I’m always focused on staying in the top 1% of the 1%. It’s why I’m up at 5:30am reading while most are asleep. It’s why I invest tens of thousands of dollars per year in my education and have done so for the past 20 years.
As the great Ben Franklin said, “Empty your purse into your mind, and your mind will fill up your purse.”
Who Do You Know and Who Knows You
One of the greatest exercises of mine over the years has been in building my own database of personal contacts.
Somewhere in my early 20’s I read a book about the power of having a big rolodex. If you’re young and don’t know that word, look it up. 🙂
For over 20 years now, I’ve been collecting names in my contact list. It’s now several thousand people that I’ve had personal conversations with. Granted, many of them I’ve lost contact with and don’t even remember. But if you wonder why I never run out of people to talk to, it’s because I’ve been building a database of personal contacts for over 20 years!
When should you start building your own rolodex?
I’m reminded of the old Chinese Proverb:
“The best time to plant a tree was 20 years ago. The second best time is now.”
My first decade or so in network marketing, there was no social media. Today, through the power of social media, it’s never been easier to connect and build relationships.
I generated millions in network marketing doing it the old-school way. But over the past decade, my success has multiplied many times over using social media.
If you haven’t yet mastered social media marketing, simply put, you are being left behind.
If you’d like a resource to help you master social media marketing, stay tuned and I’ll be releasing a new program very soon!
In the meantime, make sure you have mastered the skills and principles of network marketing… because if your knowledge level is not in the top 20% of 20%, your income will never be in the top 20% of 20%.
Go here: https://www.7strategiesbook.com/
Let’s do BIG Things!
You may also READ our previous blog post about “How to Be a Great Leader in Network Marketing”
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