Sunday, March 04, 2007

Don't multiply connections. Multiply cashflow options.

A character in a movie (I forgot the title) said: "We'll become good friends when we start counting the money together."

Money is like sex: everybody wants more of it, but nobody will publicly admit it. I'm 100% sure YOU want more of it (money, I mean). Nothing to be ashamed of. If you admit you want more money, then you can join the club. A club made up of 6.5 billion people on this little planet.

If you still resist the idea that more money is good for you, your health, your family, your quality of life, etc. then take the time to think about it. You can also stop reading this post as the rest of it is all about making money.

But if you are fine with the idea of making MORE MONEY, keep reading.

Here's my key advice for using Linkedin to make more money: Don't multiply connections. Multiply cashflow options.

By "cashflow option," I mean the secured opportunity to create a cashflow (stream of income) in the near and foreseeable future. It's a bit like call and put options in the stock market, except that -- and here's the GREAT news! -- you do not have to pay for those options.

All you have to do is think. And serve people. Answering questions on Linkedin Answers is a great way to connect to people and create cashflow options. Of course, it's important to ONLY answer questions based on your true expertise. Some people answer all questions and voice their mere opinions. It's a waste of time. People want knowledge, not opinions.

Please note that the cashflow options that you create on Linkedin can either be liquid (financial) or economic. "Economic" means "value" that is not easily or readily converted into cash value. At the same time, economic value could also be strategic value, which can be worth far more than financial value in the long term. For example, you connect with and interact with someone who could become a joint venture partner to develop and distribute a product worldwide.