Emlyn Scott
Emlyn Scott is the founder of Rich1Percent, investor and wealth creation author. He is a wealth creation and finance expert with 4 post graduate qualifications (BEc, GDAFI, MBA, CFA) from over 10 years of post graduate study and over 15 years of hands-on finance and investment experience. He has amassed a multi-million dollar investment portfolio and is author of Wealth Buys Freedom, which describes the wealth creation formula. For a more detailed biography of Emlyn Scott click here. He can be contacted at emlynscott@rich1percent.com.
View all articles by Emlyn ScottI don’t think I can express enough the crucial importance of contacts. I could rattle off statistics like the Federal Bureau of Labor research that 70% of all jobs are found through networks or axioms like “It’s not what you know but who you know”, but the truth is that nothing, bar nothing, is as important as your list of contacts.
At Rich1Percent we want to connect with like minded people. We want you to connect with us…but most importantly we want each user to connect with the other users. We want an interconnected community focused on wealth creation. A Wealth Creation Network. That’s where the real value is…having you connected to all the other people that are also interested in creating wealth...sharing stories, experiences, advice, motivation, connections, questions and answers, mentoring, sources, warnings, and so on. That’s why Rich1Percent Community is in development and coming soon. It will provide the Rich1Percent Community with all these benefits and more…
The value of social networks
The value of connections is one of the two main reasons why Rich1Percent was created (the other being the importance of giving). Everybody can benefit from the value of connecting and most importantly, those that participate in connecting with others, whether here or anywhere, will receive those benefits.
The value of a network is greater than the sum of the individuals that make up that network. In other words if you have 100 people and you add up their individual values it would be smaller (much smaller) than their value if they all knew each other. Hopefully this is just stating something that you already knew and readily practice, but it also has another interesting conclusion that might not be so obvious.
Each new member to that network grows the value of that network at an increasing rate. So if you take our 100 person network and double it to a 200 person network the value of this new network is much greater than simply double the 100 person network. Each person has an exponential increase in the value of the network.
Connecting with others is a win: win scenario. Everybody benefits from everyone’s participation. A proper network does not create winners and losers…only winners. Remember creating wealth is not about beating someone else or taking money off someone. It’s about offering value to others. If you offer value to others they will pay you willingly for that value.
The great thing about networks is that they are virtually free to participate in but they can provide immeasurable value to you and the others in the network. How much does it cost to make a contact or keep a friend? A few minutes on the phone, a regular coffee, an email here and there. I’m sure you get the idea that there is no cost involved. But what could you offer that friend or vice versa. You (or they) could be the contact that opens the door to a massive deal or new job opportunity or life changing experience. This sort of thing happens time and again…and introductions and recommendations, much like manners, cost nothing.
Emlyn Scott
Emlyn Scott is the founder of Rich1Percent, investor and wealth creation author. He is a wealth creation and finance expert with 4 post graduate qualifications (BEc, GDAFI, MBA, CFA) from over 10 years of post graduate study and over 15 years of hands-on finance and investment experience. He has amassed a multi-million dollar investment portfolio and is author of Wealth Buys Freedom, which describes the wealth creation formula. For a more detailed biography of Emlyn Scott click here. He can be contacted at emlynscott@rich1percent.com.
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