5 Ways to Increase Your Net Worth Through Your Network - Black Enterprise
Black Enterprise Magazine Summer 2019 Issue

You’ve probably heard the saying, “your network equals your net worth,” or to put it another way—it’s not what you know, it’s who you know. Those with affluence and influence tend to network with those with similar attributes. You can increase your net worth through your network.

However, networking isn’t just about connecting with people who have money but with those who have influence and can open doors for you. But how do you become a master networker?

Five Ways to Increase Your Net Worth Through Your Network 

Go where you’re most uncomfortable 

Lisa Nichols, a transformational coach says, “You will never find your next best version of you sitting inside of your comfort zone.” If the opportunity to rise to the next level means getting into rooms, showing up in places, and having conversations with those whom you wouldn’t normally talk to, then it’s time to take a deep breath and step out on that limb.

Assess your network 

Your network is bigger than you think. It’s your classmates from every level of education. As an alumnus of Northwestern University, I was able to connect with classmates, professors, and other graduates to land one of my highest paying jobs back in 2008, and increase my income by $25,000 when I switched jobs. Unfortunately, most people discredit their connections with their colleges even though every college has an alumni association and network. Also, don’t disregard your church connections, or people you do business with like your doctors, hair stylists, bankers, and others.

Prepare in advance for networking events 

Prepare for networking events by knowing beforehand what you want to discuss and who you want to meet.

Show up early to networking events

Busy people often show up early to networking events and don’t always stay the entire time. The person you may want to meet at an event may not be there if you arrive too late.

Follow Up 

It’s important to follow-up after a networking event. Not only with new relationships, but with those you may have met before. Another way to reconnect is to share an article that might be beneficial to them or invite them to an event that they could benefit them.


Black Enterprise Contributors Network