Page 4 - BSW Inner Circle The Two Types - February 2018

Building a highly effective nodal network of

professionals

The good news: There are systematic processes that you can use to create powerful nodal
networks.

In most situations, you are going to need to identify and work with a small group of people
to achieve your professional and financial goals. The members of this small group are
your “network partners.” When you work the process expertly, these partners become
instrumental in making it possible for you to create a meaningful personal fortune.

Over time, the self-made Super Rich have cast a broad networking net, catching many
professionals—but ultimately narrowing their take to a select few. These network partners
turn out to be crucial in helping the Super Rich achieve their financial objectives.

While the science of nodal networking is quite nuanced, there are five basic steps to building
this type of “narrow but deep” network.

1. Identify the qualities and talents you need to access to reach your business and
personal financial goals. You need to be able to ballpark the expertise required to help
you reach your objectives as they stand today. At the same time, you will need to be able
to source new people rapidly, since the world can shift quickly.

2. Profile prospective members of your nodal network. Depending on what you need to
accomplish, you have to make sure the people you are aligning with are who you need
them to be. This entails conducting an in-depth and extensive evaluation of potential
network partners by determining issues such as:

• Are there other people they already work with or have relationships with who are
similar to you and what you do? Do you bring anything unique or special to the table?

• What is their agenda—what do they want out of life? This will help determine the right
“economic glue” to use when working together.

• What is the nature of their business, and how does it function? If a financial advisor is
meeting with an attorney, the way that attorney is compensated will make a difference
in his or her ability to work with the advisor.
3. Determine the requisite economic glue. You want to fairly compensate people for
their contributions. For your nodal network to run well, all parties should be properly
motivated. This normally necessitates paying with one type of currency or another. It
could be money. Or it could be thought leadership content and intellectual expertise that
help the other people run their businesses better.

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