Today, I would like to discuss your investment in NYC.
I’ve heard people say that if they made their $1,500 back, that they would be happy.
I’ve heard other people say that if they made $3,000 they would be ecstatic because they doubled their money.
Well, I would like to reframe the conversation by starting with the question … do you know what the investment in your NYC seat actually costs every year?
I do.
When I calculated my expenses and the cost of the time I spend networking, my investment came to about $25,000 per year.
Correct me if I wrong… When we make an investment, we don’t want to break even, right?
And we would actually like to see a multiple on our return on investment, that’s what you shoot for with your own investment portfolios, right?
So when I say that my NYC membership costs $25,000 that may seem like a lot of money, but all that time and hard work ended up returning a 7.5 multiple on that investment.
And with that rate of return, it makes me want to be more active and work even harder.
In fact, I’ve seen a direct correlation between my activity and my return on investment.
Last year I invested a lot more time into this group with 121s and the rest of it, and I saw a huge bump in revenue. In fact, it went from $125,000 in 2012 to $185,000 in 2013.
I think the reason for this is that because I met with more people, I’ve remained top of mind, and made it much easier for people to refer me.
So I challenge you to do the math and see what what your actual investment in NYC is, because I know you will take care of a $15,000 investment much better than a $1,500 investment.
That’s just human nature.
