To Self-Made Millionaires, Relationships Are Like Gold – Relationships Are The True Currency of the Wealthy

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Self-made millionaires are very particular about who they associate with. Their goal is to develop relationships with other success-minded individuals as well as Influencers (people in power who can open doors for them).

Some of the individual characteristics self-made millionaires are looking for include:

• Individuals who are successful or success-minded.
• Individuals with good habits.
• Individuals with strong Values.
• Moral Individuals.
• Individuals who are Trustworthy.
• Individuals who are positive, upbeat and optimistic.
• Individuals who are calm and happy.
• Individuals who are able to get along with others.
• Individuals who do not gossip about others.
• Individuals who inspire and motivate.
• Individuals who are enthusiastic.
• Individuals who take personal responsibility for their lives.
• Individuals who are Influencers, Leaders, or in positions of Power.
• Successful individuals in an Identical or Similar Field.

At the same time, self-made millionaires also make an effort to eliminate toxic relationships. Toxic relationships have some of the following individual characteristics:

• Individuals who are always experiencing some type of turmoil.
• Individuals with bad habits.
• Individuals who are negative, perpetually depressed, unhappy or pessimistic.
• Individuals who are constantly putting out fires.
• Individuals who are perpetually fighting with someone.
• Individuals who gossip.
• Individuals who are dream killers.
• Individuals who lack enthusiasm.
• Individuals with a victim mindset.
• Individuals who blame others for their problems.

Self-made millionaires use four relationship building strategies to grow and strengthen their relationships:

1. Hello Call – The Hello Call is used primarily to gather information on each contact.
2. Happy Birthday Call – The Happy Birthday Call keeps your relationships on life support. At least once a year you are forced to reach out to your contacts to wish them a happy birthday. About 5-10% of these contacts will reciprocate and call you on your birthday, taking your relationship off life support.
3. Life Event Call – The Life Event Call is the most powerful strategy because it puts your relationships on steroids. This is a call you make to acknowledge some life event: birth, death, engagement, marriage, health issue, etc. Life Event Calls put your relationships on steroids. They grow the roots to the relationship tree deeper and faster than any other relationship-building strategy.
4. Networking/Volunteering – Networking & Volunteering allows you to meet new people and offers the opportunity to showcase your skills in a safe, friendly and stress-free environment. Developing a networking process is critical to success. When you network the right way, you gain customers, clients, strategic business partners, followers and networking partners and this translates into more money. Self-made millionaires are master networkers. Their networking efforts are intended to grow their association with other successful individuals. There are a number of ways these millionaires go about networking:

• They join networking groups/clubs. BNI International is the most popular, but many self-made millionaires often organized their own unique networking groups.
• They joined advisory boards of community businesses.
• They joined local civic groups such as the Lions Club, Rotary Club, Chambers of Commerce, Knights of Columbus, Optimist Club or local business groups.
• They did speaking engagements. Speaking engagements are probably the most efficient networking tool available. One speaking engagement can mean thirty or more potential clients/customers or new relationships. Many individuals fear public speaking. One of the common traits among these millionaires is their ability to overcome their fears. Public speaking sets you apart from the masses. It is a competitive advantage.
• They join non-profit groups and eventually get on the board or run one or more committees. Non-profit groups are a very valuable resource for referrals. It allows you an opportunity to showcase your skills and develop long-lasting relationships. Referrals come from every direction; fellow members, vendors, donors and beneficiaries of the organization. Most board members on non-profits are very successful, wealthy individuals who have strong, powerful relationships. Joining a non-profit grants you access to this treasure trove of valuable relationships of the other volunteers.

When self-made millionaires find someone special, they devote an enormous amount of their time and energy into building a strong relationship with them. Their goal is to grow each new relationship from a sapling into a redwood.

They used the Law of Reciprocity to very rapidly turn their new relationships into redwoods.

Here’s how this law works: each day you dedicate a portion of your day to improving the life of just one of your valued relationships. Spend time each day helping your relationship achieve their goals, improve their careers or grow their business. Fifteen to thirty minutes a day is all it takes. Eventually these valued relationships will become your biggest cheerleaders, best salespeople and best referral source. This strategy also opens doors to new contacts.

Tom Corley is an accountant, financial planner and author of “Rich Kids: How to Raise Our Children to Be Happy and Successful in Life”, Effort-Less Wealth, Change Your Habits Change Your Life, Rich Habits Poor Habits and “Rich Habits: The Daily Success Habits of Wealthy Individuals.”