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Anuz Thapa: What is the importance of networking in entrepreneurship or business? And how do you improve your networking skill? When you were too young, there was no social media, you know, now we have social media, it's really easy to network, but still people can't network with people. How do you improve it?

Binod Chaudhary: The network is the key. Even in our time, probably one of the reasons why I'm there, I was able to accomplish what I have done in my own humble way was because of my networking skills. I was the president of the Leo Club, whatever small, organization, it may have been at the age of 16, 17. Then I started sort of networking with the YPOs. I was the only member of the YPO in this country. Then I became the federation president, which took me to all over the world in the process of my networking, et cetera, et cetera, et cetera. So it's not about social media, it's about finding the right kind of opportunity to be in the right place and the right time.

Anuz Thapa: But how do you find it?

Binod Chaudhary: You have to...This is where you got to use your imagination, which organization to work with. Who are the people to hang around with.What are the magazines or media to read, what to take out from those media and how to apply that in your own, you know, scheme of things. It was there even in our time. Of course, today, things have become far more easier. I've already conceded, but most of the thing I must tell you in my life has happened because I was at the right place at the right time with the right person on one hand. On the other hand, I had the courage to make sure that happens.

Needless to say, people want to be successful in their field and success is often associated with money.

Meet Binod Chaudhary from a small landlocked country from Nepal. He is the only billionaire of the country. 

Yes, you heard it right.

The country with 27 million people, whose Per Capital Income is just above $1,000, has a billionaire. This self-made man's net worth is around $1.7 billion. You might be wondering how he made it, right?

Well, Chaudhary, the chairman of CG Corp Global, stressed the importance of networking in his life while sitting down with TheStreet for an exclusive interview in Nepal.

"The network is the key," he said. " ...Probably one of the reasons why I'm there, I was able to accomplish what I have done in my own humble way was because of my networking skills," he continued.

On being asked whether social media could be a great tool for networking, he said, "It's not about social media, it's about finding the right kind of opportunity to be in the right place and the right time."

Watch the video above to see what else he has to say about his story to success.

And while we are on the topic of the richest people in the world...

Jack Ma, the co-founder of China's biggest e-commerce firm Alibaba, and the richest person in China, resigned from the position of Executive Chairman of Alibaba on Tuesday, September 10, 2019, on his 55th birthday.

He became the richest Chinese person in the world after Alibaba's success over the last 20 years.

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