Networking with the Affluent by Thomas Stanley.
This is the fourth book for my weekly Wednesday book review.
Networking with the Affluent, published in 1997, is the oldest of all the books that I’m reviewing in this series.
I was introduced to it (or technically a different version, Marketing to the Affluent) by Jim Stovall in one of our monthly mentor meetings.
Jim listed it as one of 3 or 4 of the most beneficial business books he’d ever read.
After I finished reading it, I purchased 4 copies that I could give away to business associates.
Yeah, it was that good.
I hope you enjoy my brief summary and my main take-aways.
Summary:
Networking with the Affluent teaches the reader how to make a substantial income by becoming influential with the affluent and their trusted advisors. It’s a book about networking, and sales but the tactics taught are not the run of the mill ideas you come across in blogs and traditional books.
My main take-aways:
1. Escape From Being a Master of the 1’s
Throughout the book, in almost every case study it contrasts the behaviors of a mediocre sales person to an exceptional sales person is the escape from being a master of the 1’s.
The master of 1’s is the sales professional who has one customer is this area, and one in that area. Looking over their portfolio, you see 20 or 40 or more different industries being served. With this broad range of clients, their is little to no leverage, zero likelihood that the sales person’s name will spread among a tight knit group of peers.
And so, the first step for the sales professional is to choose a niche or industry that they will become a committed to.
Within a given industry there are conferences and associations where business owners mingle and interact. It is in these situations where you can hope that you name will be referred from one to the other.
2. Become an Advocate for their Causes or Concerns
Now that you’ve chosen your industry or niche of clients you will serve, your best angle for developing trusted referral relationships is to become an advocate for their concerns.
These concerns could be:
A. Increasing their revenue
B. Promote their knowledge, books, articles – even ghost write for them.
C. Help them in their hiring or mentoring
D. Lobby for any other cause or interest
E. etc. etc.
The Key Here: All the advocating you do here is not for money!
Yeah, that’s the key. You do these things as a free service, and this make you indispensable. You gain raving fans. You do things no other does, and you’ll be rewarded like no other.
But remember point #1. You need to select a group of affluent people who have a network or association in which you can work through to help.
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That’s it. Those two points were golden.
Grab a copy of the book here and see for yourself: Networking with the Affluent.
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p.s. I have two remaining books to give away. If you’re interested, (and live in Tulsa) comment below.