This may shock and disappoint you,
but my born name is not Derek Moneyberg.

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Build a Peer Group That Helps You Succeed

It is easy to keep people close simply because they have always been there. In a talk about the people we choose to spend time with, I argued that this is a normal habit, but that it can be costly when someone consistently discourages your work or takes the energy out of it. Being alone with a book, a documentary, or an audiobook can be more useful than giving that time to a relationship that repeatedly pulls you backward.

The harder part is not just leaving a bad circle. You have to become someone good people want in theirs. That takes work on your own habits, the value you offer, and the way you communicate it.

Look at your own choices first

I told the group that the biggest obstacle to progress may be the person making the choices. The next obstacle may be the peer group around that person. Friends or relatives sometimes react badly when someone changes direction, because it challenges the expectations they have grown used to. That does not mean everyone around you wants you to fail. It means you should pay attention to which relationships make it easier to do serious work and which ones consistently pull you away from it.

I wanted a different environment for myself, so I put real effort into meeting motivated people. I do not believe that successful people are trying to keep every newcomer out. Someone who is resourceful, reliable, and useful is worth knowing at any level.

Offer value before asking for access

When I spend time with people I admire, I do not start by asking them for a job or money. I try to make the relationship enjoyable and useful for them. Most of the time I am thinking about what I can contribute. When I do need advice, I make the question short and specific: here is the situation, here is how I am thinking about it, and here is where I could use another perspective. A busy person may not be able to solve the problem, but may know someone who can.

I would still value the relationship if it never produced an introduction or a transaction. That is the difference between building a relationship and treating someone as a contact to extract from.

How can I make myself more useful to others?

That question has shaped how I approach a network. People are more willing to return a call when they know you also care about what they are trying to do. I discuss that exchange more directly in how I try to contribute value to a network.

Choose environments that support the work

I have paid to join groups of entrepreneurs and other people whose work interests me. In the talk, I compared that expense to a cover charge or tuition. The value was not a guaranteed introduction. I wanted to be in a room where members were serious enough to invest their own time and resources. A fee can be one filter, though the quality of the group still depends on its people and how they treat one another.

The group is only part of the work. I keep learning about economics, my own habits, and communication. Those subjects affect how I use my time, what problems I can help solve, and whether people understand the value I bring. Knowing more about human behavior and money also helps me make better choices about the people around me. Money alone does not make a good relationship; it can give you more freedom to spend time on the relationships and work you already value.

Learn to communicate your value

Some capable people do excellent work but struggle to explain it. Others are trained to look for every possible failure point, which is useful in their profession but can make it harder to start a new venture or have a direct conversation about value. I wanted the people in the room to build the skill as well as the substance. They needed to know what they could contribute and to say it clearly to someone who could benefit.

You don't get what you deserve in life, you get what you negotiate for.

That line was not an argument for taking from somebody else. The relationship has to work for both sides. A clear conversation makes it possible to understand what each person needs and whether you can make a promise you will keep. I think of a brand the same way: a recognizable promise that people expect you to fulfill.

Find the right people for the next step

Before starting work I do not understand well, I look for someone who already knows the field. Hard work in the wrong direction costs time you cannot recover. A mentor can help you identify the mistakes before you make them; I talk about what to ask in my conversation on learning from a mentor's mistakes.

I ended the talk with the idea that helping other people solve better problems expands what you can solve yourself. You learn, earn trust, and find people willing to work with you. None of that happens by collecting impressive names. It happens through repeated contribution. Business is a team sport, and the people you choose matter most when you are prepared to be a valuable teammate yourself.

Derek Moneyberg
Derek Moneyberg

I’m an investor, entrepreneur, wealth coach, and host of The Derek Moneyberg Podcast.

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