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Ep 262: Shifting Strategies and Minding the Best People with Lorry Rifkin
As businesses move into the future, entrepreneurs may find the need to adjust their strategies from time to time in order to stay competitive. An important strategy for businesses is to ensure that they have access to the best possible people. Networking is an important part of life, but it can be challenging to know to whom you should devote more time. It's easy to get caught up in meeting lots of people and feel like the more connections you make, the better off you'll be. However, Lorry Rifkin states that each person added to your network has a lower marginal value.
Therefore, it's important to take the time to assess who you have met and decide if they are valuable additions to your network or not. It's better to invest in meaningful connections that bring value than grow a superficial list of contacts. So, mindful curation of your network is essential in order to reap real rewards from the people you meet. Tune in to learn what pivotal steps you need to do in order to maximize your current network!
Episode Highlights
02:16 - I replaced a lot of accountants and accounting firms. My customers always have an accountant or someone. But one thing I tell them, "Has your accountant ever brought you customers?" Because one of the things that all this networking does, it allows me – you sell that. I have this guy who buys this. You guys have to meet. And that cross fertilization is where – networks are a bunch of interconnected points. The more you connect things, the more powerful the network becomes. And so, if you're always helping people you meet, even if you don't get anything in return. "I have a customer for you. Oh, here's a potential employee. Have you checked out this vendor? You should come over my house and have a drink. You look like you're stressed." All those things build your network and overtime – again, I started really late in my 50s. If I started in my 20s, oh, my God, I'd be retired by now because all those points accumulate and compound over time that just make you a person that people have to be around or deal with.
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