Why having a large social network won’t make you money

Enette Pauze

Enette Pauze

What do you collect?

Take a quick look around your home, office or general living space. What is it that you are accumulating that specifically holds value?

Over the years I’ve collected precious gems (my grandfather worked in the mines), photos (my mom is a photographer), and most of all, books. For many years, it never occurred to me that the ‘stuff’ I was quietly gathering (ok, maybe hoarding is a better word!) was a form of stored wealth.

Now, I don’t know about you, but I’m on an inspired mission to discover my different forms of wealth and most importantly, to figure out more efficient and effective ways to convert my wealth into financial wealth.

Insight #1: Energy can’t be created or destroyed, only transformed. Lesson: if I have stored wealth (energy), I am able to convert it into my desired form (money).

Insight #2: Stored energy has potential, but can’t be transformed without some form of action. Lesson: if I want to convert my stored wealth into financial wealth, I have to DO something with my wealth.

What does this have to with having a large social network?

A social network is a form of wealth. But if you don’t do something creative and strategic with it (and with the purpose of converting the energy into money), it remains stored wealth. A large social network doesn’t have cash value until you do something with it.

Here are a few steps you can take:

  • Organize your social wealth
  • Identify people or organizations that might value your social network
  • Estimate the value of your network to these people and organizations
  • List how you can convert your network into money
  • List how your network will specifically help you grow your business
  • List how you can create value (products, services, ideas) to help people and organizations in your network solve a problem to leverage an opportunity (the bigger the problem/opportunity, the greater the value and potential for financial exchange)

How joining your CAPS social network can help you grow your business:

  • People who know and trust you can refer you better
  • Credibility in your expertise
  • Relationship deposits (advance payment for when you need help)
  • Awareness of industry tips, insights and secrets
  • Awareness of economic trends
  • Rapid feedback and opinions on your most pressing needs
  • Sense of connection and community

How can you get more connected to and better leverage your CAPS social network?

Having a social network doesn’t make you money; doing something creative and strategic with it will. Leverage your CAPS network to help you become more efficient and effective in converting your social wealth into ca$h!

PS: Are you ready to join the CAPS Financial Wealth Mastermind? Email me for details!

To the Summit!

Enette Pauzé
CAPS Toronto

One Response

  1. Adrian Davis
    Adrian Davis May 24, 2013 at 2:43 pm |

    Thank you Enette for this profound insight!

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