I always say that leveraging your network is one of the most vital things you can do to be successful as a watch trader.
Your network consists of your friends, family, business colleagues, potential clients, current customers, dealers, wholesalers, fans, and more.
The interesting thing about getting into the business of watch Trading is you can connect with and market to your network in many ways. Kind of like a chameleon that adapts to the environment around itself.
Oftentimes I get asked by WTA students how they can position themselves to their network without seeming like a slimy salesman or someone who is just picking up a new hobby to try to make money off of them. This is understandable especially if you don’t really understand the value you’re offering, and/or feel uncomfortable with how you communicate this to them. But I attribute this level of uncomfort to not truly thinking through what you can offer these wonderful people in your life. Always look at what you do including watch Trading from a lens of how you can help others with your newfound knowledge and interests. By this I mean, if you only think what you’re doing is trying to sling watches to your network to make a quick buck then that is how you will come off to them subconsciously. But if you frame up how your value intersects their lives in a harmonious way, then they will want to be involved in what you do, refer you business, and eventually turn into your customers.
So what are some examples of titles you can use to position yourself and watch trading to your people?
You can say “I’m a….
- Watch Trader
- Watch Consultant
- Luxury Timepiece Collector
- Curator of Luxury Assets
- Luxury Asset Manager
- Watch Dealer
- Watch Broker
- Timepiece Enthusiast
- Part-Time Watch Nerd
- Etc etc etc
and the list goes on and on.
These are just some ways I have framed up what I do to people depending on what types of people I’m talking to and how I want to communicate my value to them.
For example, if I’m with my family I say I’m a luxury watch trader who likes to buy/sell/trade them as assets to make money. This shows I do it as something I love and know a lot about so they can always feel free to ask questions, learn more, and refer people to me at their comfort level because they trust me. If I’m trying to score a new Rolex at an authorized dealer, I say I’m a collector so they don’t think I’m trying to flip watches for profit yet I still have enough money to buy today and knowledge that they can’t screw me over. And when I’m talking to new potential customers at a networking event, I keep it simple so they can understand quickly what it is I do without having to make it too hard for them to remember or understand. So I say I’m a luxury watch dealer or broker. They usually get the picture right away and reach out to me when they want a certain watch. I also put them on my VIP email list, and have them follow my Instagram to stay up-to-date on inventory.
So again, this adaptive strategy falls in line with first asking yourself what type of people you’re around, and what the value is you can provide to them. That will help dictate how you frame up your communication and how to approach them. When you come from that place first, it’s so much easier to make sales, and grow your network 10X.
In summary, don’t ever be afraid to tell people what it is you do regarding luxury watches because you never know who will benefit from hearing about it. And you never know where your next customer will come from. Even if it’s not that direct person, remember that person knows many people in their network who can potentially be referred to you. So the more aware these folks are of you as the watch-plug the easier the trading and profitability becomes.