“Your network is your net worth.”

– Tim Sanders, author, public speaker, and former Yahoo! director

Over the past number of years, I’ve been amazed that a good number of large companies have paid billions of dollars to acquire various social media sites. A critical key to the valuable of these social media sites are their networks of millions of users and customers.

Someone once told me that if I was to square the number of people in my network, it would be highly correlated to my net worth. That’s right: if you have 1,000 people in your network, your net worth would be $1,000,000.

I know this sounds very simplistic; however, I continue to see much value in my own use of tools such as LinkedIn for business networking and ACT! as a customer relationship manager.

Exercise:

Do your own network assessment to see its current valuation. Should you wish to grow it further, consider downloading my workbook on Masterful Networking here. (Enter the password barrydemp to access the page.)

Also, consider reading some of Tim Sanders’ work, including Love is the Killer App and The Likeablity Factor.