Episode 10 – Bigger Networks Doesn’t Equal to Money!

Episode 10 – Bigger Networks Doesn’t Equal to Money!

I personally think that networks no equal money.
Why? You’ll figure out after finish reading this episode.

Yo yo yo~ Yes, it’s Hardy Loh here.
Welcome back to 《Entrepreneurship Tips》.
Episode 10 is here!

In this episode, I need to break a traditional perspective
that being spread for few decades,
Which is Networks/Contact is Equal to Money.
Many gurus out there are always
telling you the more people you know,
the more money you can make.
Network/contacts is equal to money.
But is this the fact?

I don’t think so personally.
Why? Below are my opinions.


Networks No Equal Money…NO? YES?

Let’s take sales as a discussion point here.
Many sale or direct sales person will say
that “Network = Money”.
But I personally don’t think so, why?
Ok, let me ask you a simple question.
Is there anything to do with that knowing
more friends will make you more money?

More or less, you could notice that actually
rich people don’t have much friends.
On the contrary, poorer people may
have many friends in general.
Maybe there is a people you know,
he know many friends but he don’t get rich because of that.

The person you know might not convert to money.
It’s because a trust relationship need to be built in the first place.
Moreover, it needs time and even longer progress in between.
From not knowing each other to get known from each other,
Until they “like” you, all of these is also a process.


How to Differentiate a Good Network?

So, how to define “good network” here?
For example, you’re selling perfume.
You know 50 friends, but among these 50 friends,
The chances that they might purchase
the perfume from you might be low.

Maybe they seldom use, rarely dress up,
Seldom attend special event, etc.
Thus, the opportunity to get sale from them is very low.
We called this as “Not Targeted” customer.

On the contrary, these 50 friends you know,
they like to dress up, go out frequently,
need to attend for different events or some meeting.

In this case, the chances that they will
purchase from you are much higher.
Why? It’s because this is what we called “Targeted Customer”.
As an entrepreneur, this is the good network actually.
Therefore, in my opinion,
broad networks doesn’t equal to money.

What is your thought?
Tell me your own opinion below ↓↓

Previous Episode: 【Traditional vs Online Business PART 2】 9 Advantages You MUST Know – Episode 9

 

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