Rich people need a rich network.
“Rich networks” don’t necessarily mean they’re all rich people, but rather rich in the types of people. Depending on your niche, you’ll over-index in a certain type (e.g. if you’re a filmmaker you’ll probably have tons of creative types and influencer-wannabes in your network).
No matter who you are, you need these six types who will pick up the phone when you call.
5. Lawyer (with their own network)
One of my very close friends is a lawyer. She works in a specific niche of law but knows more than me about any aspect of the law, and therefore she gives not-advice on areas I need help with.
Now, you don’t want to bug your friends about their work for free. I happen to have an ancient relationship with this individual (close enough for her to tell me to piss off if I’m pulling too many favors) so you can’t do this all the time.
But until you’ve got someone on retainer, cultivate relationships by at least asking your lawyer where you can research the information yourself. They’ll definitely tell you that, and more than likely recommend you to a professional in that specific niche who can help you.
RELATED: Pick the Right Friends
4. Accountant, CPA (the one who will help your taxes)
Like your lawyer friend, you can’t have them just do your taxes. But a general question here and there is clutch.
Tax efficiency is a big deal.
They can save you with random bits of info. AKA, let’s say you’re about to buy a house and also are considering leaving your job to go full-time on your business.
Your money-friend might let you know it’s a million times easier to get a mortgage if you have a W2 than 1099 income. So buy your house first, then quit your job.
(I’m a big believer in not holding onto a W2 job if you intend to get rich. You need to hold equity in something, as Naval Ravikant would say. But if you want a house, get it before you quit).
FYI, none of this is legal or financial advice. #OwnYourRisk
3. Real Estate Plug
Studying the market for good deals is a full-time job. Ask anyone who has bought a house.
Unless you want to do this full-time yourself for a few months, get your friend who is a real estate agent to do it for you.
You’ll have to hire one anyway—why not your friend? And by telling them what you want, they’ll give you a first look before anyone else.
They’re also privy to stuff that isn’t listed publicly, and who you should avoid when trying to get loans, etc.
Basically, real estate is a battle for information. If you can have someone you trust with whom you can speak candidly, it’s a huge, huge advantage.
2. Tech Guy (AKA “hey, I’ve got an idea for this app…”)
“Tech guy” is the person you ask about:
- App idea
- How to fix your modem (turn it off and on, and if that doesn’t work, call the people who set it up, geez)
They’re more likely to have heard of something you have an idea for. If you pitch them something and they genuinely get excited, that’s a good sign your idea isn’t widespread enough to have traction yet (even if it already exists somwehere).
Odds are, they’ll also be plugged into other folks you might need if you want to get something off the ground (e.g. graphic deigners, a sales person, etc.)
This is probably not someone who would be on this list a generation ago, but teh speed of tech innovation and adoption is picking up, not slowing down. Cultivate this one in your network (even if you’re already in tech yourself).
1. Investor/Money Mogul
“Investor” doesn’t just mean rich. It means they’re liquid and risk-tolerant enough to go in on interesting projects.
I know of one guy who doesn’t own a house, owns a mediocre car, yet is about to drop thousands on a friend’s project just because he thinks it would be fun. He’s not “rich” in the sense that he can be an accredited investor or anything. But he’s liquid and risk tolerant enough to to go for it.
Equally, plenty of rich people are scared. They built a fortune over their life and will only ever put it into bonds and maybe the S&P 500. These folks are wealthy, but not tolerant.
Some people might also seem rich, but they’re stuck in real estate and therefore cash-poor.
Want a Rich Network? Give Before You Ask
If you’re missing one of these people, how do you find one?
- Get curious. Ask everyone you meet what they do.
- Once you find someone you want to know, learn what they’re into and try to be genuinely curious about what they like
- If you notice something they need, give it to them without expectation
It’s really that simple.
It’s also worth saying—any one of these people can fulfill several of these roles (e.g. your investor could’ve formerly been a tech entrepreneur). Just make sure you’ve got them.