Welcome to Networking Unleashed, Building Profitable
Connections, the podcast where we turn relationships
into real results. I'm your host, Michael Foreman,
and today we're talking about one of the most
overlooked aspects of networking, how your relationship
with money shapes the relationships you build
with people. My guest is an expert in financial
planning and the psychology of money. She helps
people not only create smart financial strategies,
but also rewire the beliefs that hold them back
from abundance. Together, we'll explore how mindset
impacts the way you show up in your network,
why financial confidence makes you a more magnetic
connector, and how you invest in your relationships
with the same clarity as you invest in your wealth.
If you've ever wondered how money and mindset
influence your networking success, this conversation
is going to open your eyes and maybe your opportunities.
I'd like to welcome to the podcast, Ramsha. We've
been friends for a while now. We've been going
to the same networking events, and I'm so thankful
to have you here to give us some of your wisdom.
But Ramsha, why don't you give us a little about
your background and welcome to the podcast. Sure.
Thank you so much for having me on here, Michael.
We have known each other for quite some time
and you've given such a great impression to me
and everybody else that we've connected with.
So it's an honor to be on here. But a little
bit about myself. My name is Ramsha Khan. I stay
in Atlanta, Georgia, work as a wealth advisor,
run my own practice with a firm called North
Star Resource Group. And alongside, I also produce
music and DJ as a fun little hobby of mine. So
I like to keep myself sane with my music and
I like to keep myself insane with my career.
Absolutely. Absolutely. It actually sounds like
a good mix, but okay. So let's delve into the
questions that I've got prepared for you. The
first one, how does financial planning influence
the quality and strength of someone's professional
network? That's a great question. Financial planning
is a strategy. It's very intentional. And I think
that goes into networking as well. When we're
networking with people, we have to go in with
a goal of being intentional about who we want
to meet, why we want to meet them and what we
want to do moving forward with them. And that's
the same thing when it comes to financial planning.
It's where are we, where do we want to go and
how do we get there? And so I would put those
two things together because. In order for us
to have a good financial planning strategy, we
need to be forward thinkers. And I think that
goes to networking as well. For example, when
we go to any type of networking event, whether
that's a local link or the chambers, our goal
is to connect with like -minded people that we
like, trust, and want to do business with. And
in my opinion, that's also what financial planning
means. That's so true. That's so true. You've
really come across... You have to be focused
on what you want to accomplish. Networking is
exactly the same way as the financial planning.
You have to have that end goal in sight. So you
have something to shoot for and something when
you're aiming for that, you can actually break
it apart and work your way to the goal. Exactly.
And one more thing I'd like to add on to that
is it's a fluid, like financial planning for
me is a very fluid document, a fluid item and
a fluid plan, meaning at any point it can change
because life changes for us at all times, right?
We can have kids one day and all of a sudden
now we've got to change our plan or we're moving
out of the state. We've got to change our plan.
We want to buy a house. We have to change our
plan. And that goes to networking as well, because
sometimes we're not looking to meet the same
type of people every time. Sometimes we're looking
for people that we can connect with in one aspect
of our business, or maybe we can connect within
a personal aspect. or someone that we can even
refer to. It doesn't even have to be somebody
for us. It's somebody that we're referring to
somebody else. So as much as the financial plan
changes, so does our strategy for networking
and growing personal relationships. That's so
true. You're actually what I call a professional
connector. and you're putting people together
and they have a need. And listen, if you get
something out of it, that's one thing, but that's
really not your main goal when you connect two
people together. You put two people together,
you say, okay, look, you have a need, you have
a want, a desire, you go together and you walk
away. And you wind up getting more business that
way than trying to push what you're selling.
Yeah, I agree 100%. In your experience, Do people
with healthy money mindset with a healthy money
mindset approach networking differently from
those with a scarcity mindset? That's a great
question. I would say yes. And the definition
of money rich, or could you repeat what that
was? Money. Money mindset, a healthy money mindset.
Healthy people with healthy money mindset develop
habits from early on. They're very disciplined
and focused on. achieving a win -win situation
because success doesn't come until both parties
are happy with where they are versus a scarcity
mindset. That is the type of people that when
we meet, they're just trying to sell you something.
You can smell it. You can feel it. You could
hear it. And there's no win -win situation at
the end. You just see someone pitching their
product or services to you rather than someone
looking to collaborate and build a relationship
or a partnership. So those who have healthy money
mindset understand that money is created when
two parties agree on it together. and both come
out with successful outcomes. Now, you really
consider yourself a fiduciary, right? I'm legally
obligated to work in the best interests of my
clients. Yes. There you go. So you have to, by
law. You have to try to get to the best of for
your client. Exactly. Again, sorry to interrupt,
Michael, but it always blows my mind when people
say by law, you have to do the best thing for
people, because I feel like that should be a
standard that we shouldn't have to have a lot
to be doing right by others, especially when
it comes to their money and taking care of their
financial future, essentially. So for me, it's
not my fiduciary is an honor title more than
it is a job title for myself. Yeah. You know,
as well as I do, there are plenty of people out
there waiting to take somebody's money and not
do anything for it. So there's more people like
that than yourself. So you have to work twice
as hard to have that trust value, that trust
factor. So you know you like you trust you will
do business with you. And that trust factor becomes
so important, especially somebody in your field.
Yeah. What is the biggest financial mistake professionals
make when investing in their networking efforts?
Oh, that's a good one. One of the worst financial
mistakes that they make when it comes to investing
in their network? Sure. is not taking the opportunity
to build a face -to -face connection. For example,
some people would rather save $2 than to go out
and have coffee for $2. I think the digital world
has changed business completely. Now we have
the opportunity to sit like this and we don't
need to go anywhere. We have the comfort of our
room. Our water bottle, we don't really need
to pay for anything. However, there is a big
disconnect, in my own opinion, when we're sitting
like this versus when we're meeting face to face.
The energy is very different. The relationship
that's being built and developed is very different.
For example, if we met like this, it would be
very different versus when we went to our bagel
shop and sat outside in the heat and talked about
all of our ventures. That leaves a lasting impression
for both parties as well as a great memory to
look back on versus so many times I've sat on
Zoom with people that I can't, if I'm being honest,
it doesn't leave a lasting impression on me.
It's a scheduled 30 minute call versus an open
schedule when you're meeting somebody. And the
money investing into a networking really just
goes into take that time, drive over to meet
somebody. Sure. You're going to pay a little
bit of gas money. Sure. You're going to get a
little coffee. You don't even need to get coffee,
but it's the effort that matters. And if both
parties are putting in the effort, it shows the,
the want to grow and develop a relationship and
you get to see who's really worth. putting your
time into, if they're putting their time back
into you as well. Absolutely. And I really found
it was like a line in the sand, the pandemic.
Before the pandemic, people were more, they're
treating these types of calls as transactional.
I have three widgets. You have a $2. Okay. You're
going to buy my widgets and that's going to be
it. After the pandemic, it's really become more
relationship. based. And when you go and meet,
so even if you're talking over zoom, you have
to realize that's a person behind the camera
and you have to treat them accordingly. So you
don't feel, you don't feel a vibe of the person.
You don't feel a vibe of the room, but you can,
as long as you can put yourself with that other
person, then I feel that you can create a relationship,
not just a customer. Yeah. You're so right about
that. Yeah. Time is money. I know we all hear
it. We all see it. Time is money. And if we're
going to invest anything to anybody, it should
be our time showing them what's valuable. And
yeah, I'll leave it at that. Okay. Okay. Sure.
How can someone budget their time? Speaking of
time, how can someone budget their time and resources
for networking the same way that they would for
a financial plan? book it on your calendar, schedule
it. When you have something in front of you and
that you're doing the next day, it's much easier
to follow a plan that's already created than
it is to create a plan out of thin air the day
of. And so that goes to financial planning because
so many people are like, oh, I can invest today
and I'll invest a little bit tomorrow. And when
I have this money, I'll put it away. But that's
not. a plan put into stone it's it's all up in
the air when things are all up in the air they
just float around and so when we have a structured
plan it really helps us stay focused and intentional
about the activities that we're doing that goes
to networking for example i have all of my networking
events scheduled on my calendars and blocked
off Every single week when I know it's happening.
So that way I know where my priority is during
that time and that my focus is not going to go
to anything else. I'm going to prioritize going
to these sessions or meeting these people, not
focusing on my own business. And then I block
out time for my own business as well. This is
very true. It's important to do that time blocking.
It's actually a thing, time blocking. But I use...
My phone, my computer calendar, and I have a
desktop calendar also just to make sure that
I don't miss anything. But I block out a set
time during the day for my business. I block
out and then networking at night and everything
else. But if I don't block it out, then somebody
else may get that time and I'll have to either
excuse myself or whatever the case may be. It
saves you heartache. So if you can block out
the time, just as Ramsha says, that you can block
it out, that will help you tenfold when you're
trying to do things down the road. Can I ask
you a question, Michael? Sure. There's been so
many times people struggle finding where their
priorities lie. Sometimes their calendar is their...
their bible they live by it they rule by it but
some people allow others to dictate their calendar
and I think that when we start our business it's
difficult at first prioritizing and do we want
to focus on other people for example you said
that there was a time available somebody will
take it but you have something that you have
to do where what do you decide you're going to
go with that person that decided to book it or
are you going to focus on your own priority so
how did you start making those decisions clearer
and more certain stern for yourself What I did
was I blocked out the time from now till December.
So the set networking opportunities that I have
that are every week, I automatically block that
out so nobody can touch that time. And I fill
in the time when I'm behind my desk, when other
people are filling in, so to speak, that time.
But when you have, when you get up. When you
get a little bit more, when you get a little
more opportunity, you can have an assistant and
that assistant will now have control of your
calendar. So that's where you're going to say
to your assistant, you have to make sure that
you don't allow somebody else to occupy this
time. So I work very hard at not letting anybody
sneak an appointment in while. I'm going and
I'm planning on doing something else. So I have
plenty of times when off my website or somewhere
else, I have my calendar link and people can
make an appointment for a consultation for anything
like that. So as long as they use the calendar
invite, it's blocked off because that works directly
with my calendar on my computer. So it takes
time. It takes a straight mindset. And if you
follow it accordingly, then you'll be successful.
If you're willy nilly and you're just using a
paper calendar and somebody else is going to
make an appointment, you're going to get all
messed up. You have to be structured and organized.
And that's a very difficult thing to do. Yeah.
Thanks for sharing that. Okay. So. Have you seen
networking play a direct role in helping people
achieve major financial goals? Yeah, you never
know who you're going to meet when you're networking.
You never know who needs you and who also you
need back. I think that because of the digital
world, it's so easy to go out and build lists
and go to LinkedIn and connect with a thousand
people. But you never know someone's true needs
until you have a conversation with them. And
so networking allows that conversation to build.
The first 30 seconds or one minute of you talking
about your services and listening to the other
person's services, you get a chance to see. Is
there something that I can help this person with?
And is there something that person can help me
with? And so when it comes to networking, for
example, I've had people where I've shared a
presentation and I've talked about, let's just
say like a 401k, how to make sure your 401k is
invested properly or what options you have if
you're leaving a firm with your 401k. And people
don't realize that until they know what they
don't know, they don't know what to act on. Don't
know what you don't know. You don't know what
you don't know. I say this to the high school
students and college students that I coach because
they're not sure about a networking event or
where they can help. I said, you're networking
every day of your life in your circle of friends,
in a department store, in a grocery store. You're
doing everything. When you're online and you
hear a conversation behind you, you just don't
put your earmuffs on and look forward to the
conversation. If you can add any type of smart
or anything to their conversation, then add it.
Turn around and say, oh, hi, excuse me, but you
were talking about this. I heard you and I do
this. And then you turn back around. You don't
have to sit there and wait for a conversation.
If what you said was interesting enough, tap
you on the shoulder and say, could you explain
that a little bit further? And then you're happy.
Exactly. So many times, Michael, tell me if you've
seen this too, people wait to be asked, what
can you do for me? And that's sitting there waiting
for those types of opportunities is in my opinion,
I've never really seen a lot of success come
from that. No, it's true. And I just, I just
had a very good friend of mine on the podcast
and he's a realtor down in Florida. And he always
like when he walked into a, it just told me a
story when he walked into a store. A person thought
he worked there and said, can you tell me where
this is? He said, yeah, come on, I'll show you.
And by the way, do you own a house or do you
rent? Are you thinking about buying? How about
in six months? Here, take my card. And that's
how it started. But he initiated. the conversation
and the guy probably never even thought about
it, but yeah. And he is, that's why he does very
well where he is, but you have to take the bull
by the horns. If you wait for everything to come
to you, you're going to wait a very long time.
Yeah. I believe in the law of attraction, but
you got to put out what you want back. We can't
just sit there. That's true. It's true. Okay.
How can a person's beliefs about money either
help or hinder the relationships they build?
Ooh, wonderful question. I've said this before
with other people, and I'm a true believer in
this. Research shows that when we grow up in
two different patterns, either we... hoard all
our money because we don't know when the next
next dollar is going to come from or we spend
all our money because we don't know when the
next dollar is going to come from and so those
two mindsets come from seeing our family situation
nature nurture the environment that we're really
raised and born in and how that money mindset
was developed there and it seeps into our subconscious
as we grow up and so when we grow up that can
hinder relationship building because of the same
one of the questions you asked earlier about
healthy mindsets versus non -healthy mindsets
now all of a sudden you're thinking one track
mind and me rather than we we a little bit of
french there for you but but that i'm a big believer
in that because if we don't If we have that mindset
of spending every money, we're going to give
out everything and never receive anything back
nor expect anything back, which is a positive
or a negative thing. But we're not working for
charity. We're working, right? We're building
a business, not doing charity work. Or the other
is we take from everybody and we don't give back.
And where is any relationships going to grow
from there? That's true. But also I factor age
into it because the older that people get, the
mind shift, mind changes. let's say a single
person, then all of a sudden they get married.
So they don't think about just themselves anymore.
They're thinking about their spouse. So now all
of a sudden it goes from a me to a we, we, we,
and then all of a sudden they have children.
And then all of a sudden, let's say in my case,
I thought solely about my wife and children.
I didn't think about myself. So things change
100 % by how old you got and your age. And all
of a sudden you realize, you know what, I'm getting
older. Do I have my finances in order? And that's
where you reach out to a financial planner or
somebody else. Or if you're friendly with somebody,
you talk to them about it. But it changes with
age. And that's something you should really think
about. Because it's different if you're talking
to a single person in their 20s as opposed to
a married person in their 30s. Now, I agree.
I completely agree with you. And that's why I'm
a big advocate on. Plan early for your future.
If you plan on getting married, if you plan on
having kids, at least have some type of draft
put together so that you're not thinking fresh
then. Sometimes it's a little too late to start
planning. Your kids are 15 years old and you
want to start for college education. Okay, maybe
we're a little, we can still do it, but maybe
we're not going to get the same results as if
we had started when they were three or four years
old. So it's always, I agree, it's always once
you get to that point, you have more responsibility.
And then you start really thinking about financial
security much more importantly at that time.
Absolutely. Absolutely. Okay. What advice do
you have for people who feel it's too early in
their financial journey to network with high
level professionals? Oh, I think people get scared
with high network professionals because of either
titles, PhDs, or how much income that they make.
But we have to remember everybody's human. Right.
Outside of our titles and statuses, we are all
skin and bones and a soul and a heart that are
all trying to make it in this world. And so there
should be no reason to be scared because eventually
you want to put yourself in an environment and
surround yourself with people that you desire
to. become or build a lifestyle of and if you
want to be a wealthy successful person you surround
yourself with wealthy successful people not be
intimidated by them there's a saying where you're
the average of the five people you surround yourself
with so I make it a habit to put myself in places
and rooms that where I'm surrounded with people
who are much more successful than me. And it
doesn't necessarily mean high net worth. Sometimes
it's high wisdom too. Some people have a lot
of an experience that they can share and we can
learn from. So regardless of whether you build
a business with them or if there's a relationship
that develops through that, at the end, it's
a great learning experience, a great lesson and
a great place to be to open your mind and grow
your mindset as well. What do you say to the
person that they say, it's too early for me to...
think about my financial future. It's never too
early. It's never too early. It's never too early.
When did you start thinking about your financial
future, Michael? When you were younger, what
was your take on it? What was your mindset on
money? I didn't start thinking about it until
my late 30s. Which is good. Better than never,
right? Absolutely. And then you had to figure
out, because I was married with children, I had
to figure out, okay, do I have that extra couple
of dollars that I can invest and things like
that. And I made it a habit that regardless of,
I made it like a bill, right? I have to pay all
these bills at the end of the month. That was
part of it. So that money had to go away. And
then whatever I was left with was the expense
that I can throw around and worry about. But
I learned that, let's say late thirties, that
I had to really figure it out. And I'm glad I
did today. Good. And you're doing super successful,
so I'm happy to hear that too. Are there parallels
between diversifying investments and diversifying
a professional network? 100%. Some people are
structured and have a niche. And I think having
a niche for your business is important. But at
the same time, you don't want to limit yourself
to your opportunities. When business comes knocking
at your door, you don't say bye and slam it in
its face. You take what you get. And also, if
somebody's coming to you, especially in my industry,
if someone's coming to me. asking for financial
help, it is a lack of my fiduciary responsibility
for me to turn them away. In my heart, I'm not
going to say, you know what, you're not making
X amount of money or you're not a high net worth
client. I don't really want to work with you.
And so I keep my doors open to anybody and everybody.
However, I also want to focus on mastering the
insights of a specific industry. So that way
I can be more knowledgeable in that field. For
example, with business owners, business owner
solutions, or for example, practice owners, right?
How do dentists pay off? Dentists, doctors, they
have high student loans. How do we plan a structure
for that? So becoming an expert in whatever field
you want to work with, but not limiting yourself
is a great way to grow. That's the parallels
for diversifying your investments as well as
your network. A little advice from my end, from
the networking end of things, focus on what you
want to do. So if you want to focus in on not
only business owners, because that's too broad.
If you want to focus in on business owner, medical
practice, that's okay. But are you going to focus
in on business owner, medical practice, dentists?
Okay, now you're laser focusing and you have
to go or physical therapists and you have to
go in and really see what's going on in their
world because there's a lot of costs in with.
being a doctor, but one of the biggest costs
is malpractice insurance. Yeah. So you have to
figure all this stuff out and say, okay, you
know what? And then you have the person going
to the health insurance and people like that.
And I've worked with people, I've had clients
that are in those fields. That's why I know what
it is, what it takes. So you have to be very
careful. And another thing I want to add is you
never know. where your next opportunity is going
to lie. It's you have to change your mindset
to be aware of other opportunities, right? Because
if your mind is closed off to that, then you
won't see it. If you and I walk into a room and
I can come up with whatever I wanted to say,
but you say, oh, this is great. I walked out
with three clients. And I said, I didn't walk
out with any because your mind was open to opportunities
and my mind was closed. So that's okay. Okay.
So what role does trust, both financial and personal,
play in creating long -term profitable connections?
Oh man, there's no relationship without trust.
We talked about this in the beginning. Yeah,
and also I'm a big believer once trust is broken,
it's very hard to rebuild that relationship too.
So when you have a foundation that you're building
with somebody and that trust is that structure
that you're building that foundation on, you
want to be very careful with it. You want to
be very diligent about it. You got to take care
of that person in front of you. If you say you're
going to do something, you got to do it, you
know, that kind of stuff. If you can't, you got
to communicate. Trust and communication are big
when it comes to building lasting relationships
with people. without trust nope no one likes
you nobody wants to do business with you right
you build business with people you like what
was it like trust no no interest exactly no interest
right and i i really believe without trust there's
nothing that can be there's no relationship that
can be developed especially in a world where
today trust is so scarce fine scarce may not
be the right word but it's very hard to be trusted
it's very hard to trust people easily today everybody
This is a crazy world today, Michael. So trust
is hard to earn as well as give. It is. And when
you go to a networking event, you have, if you
go in with what's called a servant's heart, you
want to give and not receive. And if you go in
with that philosophy, then it takes all the pressure
off your shoulders. You're not there to try to
sell them anything or do anything for them. You're
there for the other person. One line that I've
always used and was very accepted was at, let's
say, a networking table or something else. And
let's say I'm with you and you tell me everything
that you do and everything else. I say, you know
something, Ram Shah, I like you. I like what
you do for a living. I like how you do it. How
can I make you more successful? How can I be
a good referral source for you? And if I've done
my job correctly, you should say, I don't even
know what you do yet. And that's perfect. So
if you go in there with that thought, with that
feeling, then you never, you never can go wrong.
And you released all that pressure. And for people
who are building referral based businesses, trust
is their highest priority because no one's going
to refer anybody to somebody that they don't
trust. Right. Because that's their line, their
credibility and their name and friend that they're
putting in front of this person that that's looking
for business. And trust goes beyond just building
a relationship. It goes to many aspects of networking
growth overall. Trust build what I call social
capital. Right. It's your social capital. So
when people have that much trust in you, then
you have a great amount of social capital. If
you do something wrong. or bad, or something
to make them not trust you, you really go into
that social capital. So unless you have an abundance
of the social capital, if you're just starting
out, and you do something where they're not going
to trust you, then you're below the line. And
all of a sudden, you're out, and you owe them.
And as you said, it's much more difficult. to
get them back after they lost your trust or you
lost their trust or something else. It's like
going back to finance. Just one last thing to
add on this. It's like the concept of deposits
and withdrawal. Each person is a bank account.
If we just deposit money, we're building up that
cash balance and cash value. However, if we keep
taking from them, if we keep withdrawing, eventually
at some point we're going to overdraw ourselves
and that we owe them something. And that's where
now we're lacking our... We're not building anything
because we've taken so much out from them. They're
overdrawn. We're going to get overdraft fees.
They don't want a relationship with us. The bank's
going to say bye bye. You know, that's the social
capital. Yeah, that is exactly it. The deposits
and withdrawals. It's all built around trust,
that trust factor. But you're building your social
capital. OK, so let's bring this podcast full
circle. If you could give one money mindset networking
tip that would pay the biggest dividends, what
would it be? To start to review and have a plan.
That's really it. Most people just don't have
a plan. They go in and look at, ask questions
about investing or what's this stock doing or
what's this Bitcoin doing? And I think that it
really depends on your overall picture. Write
down where you want to go. And then consult with
a financial professional on how you want to get
there. And that way, regardless of whether you're
going to follow that path, if you want to, you
have that right in front of you. You have the
steps that it takes to move forward to that path.
Okay, Ramshad, that was... Fantastic. You were
a great guest and you must be a great financial
planner because you gave me all the answers that
I ask questions. So I'm thinking that you are
very good at what you do. But if somebody wanted
to get hold of you just to ask you a question
or bounce something off of you or have a consult
with you, what's the best way for them to get
hold of you? So they can reach me on LinkedIn.
My LinkedIn is ramsha khan dash. If they can
reach me on my email, ramsha .khan at northstarfinancial
.com or they can shoot me a text message. Now
everybody's texting these days, 470 -870 -1941.
So if anybody wants to talk, I am happy to just
have a conversation. I think that even conversations
just give people mental peace and peace of mind.
So, you know, I'm always happy to be that financial
therapist as well. That's great. That's great.
Ramsha, I look forward to talking to you again.
Thank you, Michael. Thank you for having me on.
It was a pleasure. Well, hold on, folks. Don't
go anywhere. Let's hear from our sponsors. David
Neal, co -founder, Revved Up Kids. Revved Up
Kids is on a mission to protect children and
teens from sexual abuse, exploitation, and trafficking.
They provide prevention training programs for
children, teens, and adults. To learn more, go
to revvedupkids .org. Henry Kaplan, Century 21.
When it comes to making the biggest financial
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is a global real estate agent with Century 21,
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A huge thank you to our guests for sharing such...
insights today. And of course, a big shout out
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