One of the popular questions I get asked all the time as a Financial Expert is this. What is the fastest way to create wealth and get to the top? I almost always have one answer to this question and it is to build wealth creating relationships. And here is why. All the wealth in the world is created in the context of a relationship.
This means that without relationships wealth cannot be created. According to Charlie “Tremendous” Jones, a one-time legendary speaker and author, you remain the same person year after year except for the people you meet and the books you read. So if becoming wealthy is important to you. You must master the art of creating wealthy relationships. Creating wealthy relationships is important because it helps us solve important problems.
The truth is there is an unequal distribution of wealth and advantage in the world. This means that to create wealth you need other people. Other people have the answers, deals, money, access, power, and influence that you need to create wealth. And without their cooperation and support, it is hard to create wealth. To create wealth, two or more people must agree to solve problems for each other. And it is only when these problems are solved that wealth is created. Thus wealth is created in the context of a relationship. And the element in a relationship that makes wealth creation possible is trust. Trust is critical for wealth creation and the most trusted relationships in the world are close relationships. Thus, developing close relationships is the fastest way to create wealth.
But if close relationships are the answer, why are we not all wealthy?
The answer is simple
Not all close relationships are wealth creating in nature. Certain close relationships are actually set up to make you poor. But before I show you the close relationship that can make you wealthy. Let me first define what a close relationship is.
A Close relationship is any relationship that is bound by mutual interests, mutual environment, mutual source, or mutual loyalties and beliefs. Close relationships are formed in private and sometimes exclusive environments. The nature of these environments encourages engagement that leads to close relationships.
Examples of Close relationships include family relationships, friends, Classmates, Work Colleagues, Club members, Neighbors, Estate Associations, Parent associations, Events, Gyms, etc. The environment that forms these relationships is embedded with Trust, Safety, and Relaxation. This gives members the justification to connect with other members and engage with them. Relationships formed under closed environments are the best because they can convert total strangers into friends in minutes.
So now that you know what a Close relationship is let me show you the two kinds of close relationships.
There are two kinds of Close Relationships.
The First is the wealth-draining Close relationship. And the second is the Wealth creating close relationships.
The wealth draining Close relationships is any relationship that drains wealth. It comprises family relationships, friends, and religious organizations. These relationships use up capital because embedded in them are problems that can majorly be solved using money. Wealth-draining relationships may provide emotional support but it is the most difficult relationship to create wealth from and here is why.
First, most people are from average families and poor homes. This leaves them with little or no room to create wealth. Second, most wealth-draining relationships are set up to drain wealth. Members of this group encourage one another to do things for each other for free. This entitlement to free is the single biggest reason why wealth draining relationships fail at creating wealth. Third wealth draining relationships have a set impression of you. And it is hard to take you seriously when you change this impression. To create wealth with speed you must focus on close relationships that are primed for wealth creation. These relationships are the wealth-creating relationships
Wealth-creating relationships are like business relationships. They comprise relationships with your co-workers, Club members, Neighbors, Estate Associations members, Customers, Parent Association, Vendors, Professional associations, Events, Gyms, etc.
Members of these groups are open to learning about new information. Discovery New opportunities, and meeting new people. And they rarely solve problems for each other using money. The way this group solves problems is to point each other in the right direction. They connect each other to people, businesses, and organizations that can help them. And support one another through difficult crises. all for Free. But there is a ways to this in exchange for wealth.
Thus for a close relationship to be wealth-creating, it must have three main components.
The first component is the presence of people with problems to solve or Goals to achieve. The second component is the willingness of these people to pay for solutions that can help them solve their problems. And the third component is people that can solve the problems. These are the three components that can turn ordinary relationships into wealth-creating relationships.
So now that you know how to turn ordinary relationships into wealth-creating relationships. How do you create wealth from them?
To create wealth from your close relationships you must first become valuable to them. Becoming valuable to them means finding out what they want and developing the skills to solve their problems. Helping your close relationships solve problems is the only way to help yourself.
Unfortunately, only a few people know how to do this comfortably. Many would rather remain on their own than talk to a close relationship. But if wealth creation is important to you. You must develop the confidence to talk to your close relationships. Thankfully talking to a close relationship is less threatening than talking to a total stranger.
So how exactly do you create wealth from close relationships?
To create wealth from close relationships there five things that you must do.
The first thing is to Target the right relationships. The second thing is to create value that is relevant to these relationships. The third thing is to grab their attention. The fourth thing is to Build wealth-creating Rapport. And the fifth thing is to exchange the value that can make you wealthy. Below I explain each of the steps in detail.
- Target the Right Relationships
Targeting the right relationship is simply identifying who you want to become valuable to and what means value to them. There are two people you need to be valuable to if you want to create wealth. The first person is your close relationships. And the second person is the solution provider. To be valuable to your close relationships you need to know who they are, what they want, and what they are willing to pay for. And to be valuable to solution providers you need to know what they are willing to pay you for. Your goal is to identify the people that can help you create wealth and understand what they need to support you in your wealth-creating journey. Targeting is thus all about identifying who you need to become wealthy.
- Create Relevant Value
The only way to become valuable to a person is to create value that is relevant to them. Value creation is all about creating value that is relevant to your close relationships and solutions provider. To create the value you need to do two things. First, you need to develop high-income skills. And second, you need to develop certain abilities.
There are three high-income skills you need to develop if you want to be wealthy. The first skill is creativity or innovation skill. The second skill is Relationship building skills. And the third skill is marketing skills.
To create wealth you also need to develop certain abilities. There are five abilities you must have to become a wealth-creating persona.
So what are these five abilities?.
The first ability is Attitude. All wealth-creating persona have a positive attitude. They have a healthy world view of themselves, other people and the world. The second ability is clear Communication. All wealth-creating persona express their ideas, in clear simple language. They also ask meaningful questions and listen to other people’s ideas. The third ability of a wealth-creating persona is self-Leadership. Self-leadership is the hallmark of effective people leadership. And Wealth creating personas live by example. The fourth ability is Confidence. All wealth-creating persona have a healthy self-esteem. They exude confidence and are magnetic to their target audience. And the fifth ability is Character. Character is the bedrock of Trust and Trust is essential in every relationship. These are the five abilities that turn a person into a solid wealth creator
The key to success here is to develop the skills and abilities you need before you form wealthy relationships. You can also partner with someone that already have these abilities and learn in the process. This is important because first impressions matters in every relationship. And once a wrong first impression is established it is irredeemable. Creating wealth in trusted relationships with the right skills and abilities is thus the fastest way to unlock your income potential and wealth.
- Grab the Right Attention
One of the fastest way to grab anybody’s attention is to give them what they want. People are attracted to what they want in the same way a Fish is attracted to the right bait. Attention-grabbing is thus all about understanding what your close relationships want and to give it to them. Without the ability to command this sort of attention you cannot create wealth. To grab the attention of your close relationships you need to position as a friend and helper and not a sales Man. Salesmen grab rejection only Helpers grab attention. To position as a helper you need to focus on your close relationships and not on yourself. You need to identify what they want. Choose wealth-creating problems. And genuinely be interested to help them. To discover wealth-creating Problems you need to ask problem revealing questions. This the only way to identify problems that can make you rich. Attention-grabbing is thus all about coming to your close relationships with solutions they are already programed to accept.
- Build Wealth creating Rapport
The process that begins every relationship is rapport. Building wealth-creating rapport is thus about developing the ability to connect with, converse with and add value to your close relationships. And there are two ways to create a great rapport. The first way is through positive connections. And the second way is through meaningful Conversations. To create positive connections you need the right non-verbal cues. Non-verbal cues like smiling. Confident Posture. Confident walks. Body language, Smell, and Touch are great rapport builders. Creating positive connections is critical if you want to build wealth creating relationship. Conversations take the relationship further from just connection. And conversation has to be wealth-creating to create wealth. To create wealth-creating conversation you have to be able to lead one or participate in one. The components of a great wealth-creating Conversations include introductions. Getting to know the other person. Establishing alignment in perspective and value. Asking the right questions. Identify wealth-creating problem. And asking for permission to suggest a solution. When you develop the ability to build rapport with ease. You become a center of influence. Becoming a center of Influence is great because it increases believe. And make your close relationships want to act on what you say. This is a powerful position to be in if you want to create wealth.
- Exchange Value that can make you wealthy
The value exchange process is the final process in the wealth-creating and problem-solving value chain. Value exchanges occur when a close relationship decides to become a customer. This decision creates a series of value exchanges. First, the customer exchanges cash for the solution that they desire. Second, the Business owner accepts cash in exchange for the desired solution. And third the value connector or helper accepts a financial reward in exchange for their connections. Everyone wins and this ends the problem solving and wealth creation process.
To create wealth with speed in the age and era where wealth creation is elusive, you must develop close relationships. Developing close relationships that create wealth is the best short-cut you can take to wealth.
If you need help developing wealthy relationships or optimizing close relationships to create wealth. We can help you. To get help send an email to [email protected]
The hardest way to create wealth is through complete strangers. You need close wealth-creating relationships to get Rich.
Grace Agada is The Senior Financial Happiness Director @ Create Solid Wealth. She is an Author and Column Contributor in Six National Newspaper. She is a contributor at BellaNaija, Nairametrics, and Proshare and she is on a mission to help working-class professionals and CEOs become more financially successful. To learn more about Grace and how she can help you send an email to [email protected]