Five Keys to Success in a Slow Economy

Part 2 of a 5-part Series

This is the second of a five part series on Recession Success.  Look for all five parts to be posted daily this week.  Each topic will build on the next, so be sure not to miss any by subscribing to our RSS feed or email newsletter and free ebook.

If you keep doing the same thing in your business, you will produce the same results.  That’s great if you are a multi-millionaire with too much money and too much time on your hands… but in this economy, many businesses are failing because of their unwillingness to reach out to customers and build their community of clients.  Relationship  makes or breaks your business.

The same could be said of networking for entrepreneurs… it is relationship that makes or breaks your business.  There is simply nothing more important than building your social capital.  The “Rule of 300” says that every person has about 300 people in their circle of influence.  This translates to about 90,000 people.  If you account for some overlap in relationships, this number is still at least 50,000.  What are you doing to maximize your relationships, build social capital and make lasting connections that build your business?

This is the first and best way for you to increase business; build relationships that generate increased revenue.

Relationship + Committed Conversation = Results

A client of mine recently shared a book with me about emotional equations… this inspired me to create a success equation of my own.  Relationship + Committed Conversation = Results   This simple equation is the key to using your social capital to produce big results in your business.

First, you build your relationships.  Write a list of 30 people (we’ll start small, remember you’ve got about 300!)  Decide what you are committed to building in your business (this is the “committed conversation” part.)  Then call each of the 30 and tell them the result you are trying to produce (the committed conversation) and ask them for their help.  What can they do to support you in achieving this result?

Sit back and watch the miracles happen… and for those of you REALLY committed to success… don’t stop at 30.

Try this challenge and come back and share in the “comments” section, what miracles you produced.