WEBVTT 00:00:17.070 --> 00:00:20.329 Welcome to Networking Unleashed, Building Profitable 00:00:20.329 --> 00:00:23.289 Connections. I'm your host, Michael Foreman, 00:00:23.370 --> 00:00:26.429 and today we're tackling a question a lot of 00:00:26.429 --> 00:00:29.690 people think about, but few talk about openly. 00:00:30.269 --> 00:00:33.869 What if people who connect others, the one who 00:00:33.869 --> 00:00:38.310 opens doors, bring opportunities together, and 00:00:38.310 --> 00:00:42.390 build rooms that matter, actually got paid for 00:00:42.390 --> 00:00:45.659 the value they create? Today's guest understands 00:00:45.659 --> 00:00:49.920 how communities turn into income, why connectors 00:00:49.920 --> 00:00:53.740 should stop apologizing for charging and why 00:00:53.740 --> 00:00:57.420 real results only come when you put in the time. 00:00:57.820 --> 00:01:00.820 This episode is about ownership, credibility 00:01:00.820 --> 00:01:04.620 and earning what your relationships produce. 00:01:04.879 --> 00:01:08.439 If you've ever wondered how to turn your network 00:01:08.439 --> 00:01:11.480 into something that lasts and pays, you're in 00:01:11.480 --> 00:01:15.340 the right place. start getting into it. I'd like 00:01:15.340 --> 00:01:20.140 to introduce today, Joe, you are my guest today 00:01:20.140 --> 00:01:23.819 on my podcast. Welcome. Why don't you give me 00:01:23.819 --> 00:01:26.439 a little bit about your background and where 00:01:26.439 --> 00:01:29.439 you are today? Sure. Thanks for having me, Michael. 00:01:29.540 --> 00:01:31.140 This is great. I'm excited to be on here. We 00:01:31.140 --> 00:01:32.859 had a lot in common. We were talking before we 00:01:32.859 --> 00:01:35.420 got on. So a lot of Jersey, Rockland County stuff. 00:01:35.500 --> 00:01:37.560 So a lot of connections there. But yeah, but 00:01:37.560 --> 00:01:39.620 I'm a Jersey guy. I went to school in Ohio, came 00:01:39.620 --> 00:01:41.680 back. I started a marketing agency right out 00:01:41.680 --> 00:01:44.439 of college. I ran that for 20 years and I became 00:01:44.439 --> 00:01:46.819 a connector. I just fell in love with networking. 00:01:47.019 --> 00:01:50.560 I went to a BNI meeting when I was 25 and someone's 00:01:50.560 --> 00:01:51.840 like, yeah, you network. I'm like, what is this? 00:01:51.980 --> 00:01:54.349 And next thing you know. I loved it. And I'm 00:01:54.349 --> 00:01:56.189 like, wait, if I introduce you to that person, 00:01:56.250 --> 00:01:57.750 you could get me business and just the whole 00:01:57.750 --> 00:02:01.109 idea behind it. So the next whatever, 15, 20 00:02:01.109 --> 00:02:02.870 years or so, I was running the agency. I became 00:02:02.870 --> 00:02:05.250 a real big connector. And then I sold the company 00:02:05.250 --> 00:02:07.890 and I started another company and people are 00:02:07.890 --> 00:02:09.629 still calling me, right? Joe, I need this. Joe, 00:02:09.689 --> 00:02:11.469 I need that. Oh, Michael, listen, I'm happy to 00:02:11.469 --> 00:02:13.800 connect you. you know what? How about you pay 00:02:13.800 --> 00:02:15.560 me if I connect you to another deal, right? I 00:02:15.560 --> 00:02:17.580 had a $100 ,000 deal that I connected somebody 00:02:17.580 --> 00:02:19.699 on. I'm like, I should have gotten paid for that. 00:02:19.759 --> 00:02:21.659 That was a nice size deal. And I went back to 00:02:21.659 --> 00:02:23.580 them and said, how about I bring you more business 00:02:23.580 --> 00:02:25.500 and you pay me? And they were like, yeah, like 00:02:25.500 --> 00:02:27.919 you literally walked me in the door, president 00:02:27.919 --> 00:02:30.800 of the company, and I got a $100 ,000 deal. I'll 00:02:30.800 --> 00:02:33.340 pay you 15 % of whatever you bring me. So that's 00:02:33.340 --> 00:02:34.979 when the whole thing started. It was like, maybe 00:02:34.979 --> 00:02:36.520 connectors should be getting paid. And I think 00:02:36.520 --> 00:02:38.659 we all as connectors, you as a connector, everyone, 00:02:38.759 --> 00:02:40.840 I think we all in our back of our minds, like, 00:02:41.280 --> 00:02:42.960 man, I've given out millions of dollars over 00:02:42.960 --> 00:02:44.960 the years. Why I should have been, I should have 00:02:44.960 --> 00:02:46.419 been getting paid. And people get frustrated. 00:02:46.560 --> 00:02:48.360 I don't even get a gift card, not even a bottle 00:02:48.360 --> 00:02:50.039 of wine. And I've done that before. And it's 00:02:50.039 --> 00:02:51.919 like, you should be thanking people. And then 00:02:51.919 --> 00:02:54.400 now that we have the upfront contract that we 00:02:54.400 --> 00:02:56.500 put together through our software, it's like 00:02:56.500 --> 00:02:58.680 you're going in saying, I'm going to, if I introduce 00:02:58.680 --> 00:03:00.849 you, you're going to pay a commission. and just 00:03:00.849 --> 00:03:02.990 let's stop playing around with this and we're 00:03:02.990 --> 00:03:05.389 just calling it connectors get paid this is the 00:03:05.389 --> 00:03:07.210 book i put out i feel like i'm always hawking 00:03:07.210 --> 00:03:09.310 the book but connectors get paid how to build 00:03:09.310 --> 00:03:11.610 a referral network that pays and we trademarked 00:03:11.610 --> 00:03:13.509 it connectors get paid let's all start paying 00:03:13.509 --> 00:03:15.210 each other that's our mantra if you're a good 00:03:15.210 --> 00:03:16.909 connector get paid and the people that aren't 00:03:16.909 --> 00:03:19.699 good I'm happy to pay you, Michael. If you get 00:03:19.699 --> 00:03:21.419 me business, I don't like selling. I don't like 00:03:21.419 --> 00:03:23.319 opening doors. I don't like doing all this networking. 00:03:23.599 --> 00:03:25.360 But if you get me in the door somewhere, I'm 00:03:25.360 --> 00:03:27.539 happy to pay you. So both sides are happy right 00:03:27.539 --> 00:03:29.319 now. The connector is getting paid. And the other 00:03:29.319 --> 00:03:31.919 people that are afraid, not afraid, but are just 00:03:31.919 --> 00:03:34.360 uncomfortable with networking sales, they're 00:03:34.360 --> 00:03:36.539 getting paid as well. And that's it. It's very 00:03:36.539 --> 00:03:41.139 simple. It is simple. It is simple. And I based 00:03:41.139 --> 00:03:46.000 my whole business. on that concept. I truly believe 00:03:46.000 --> 00:03:49.280 it. I believe that networking is the lifeblood 00:03:49.280 --> 00:03:54.319 of business. And some people don't have the salesmanship. 00:03:54.479 --> 00:03:56.539 They know what they're doing. They know how to 00:03:56.539 --> 00:04:00.060 do it, but they hate to go out and sell. So if 00:04:00.060 --> 00:04:02.819 they find somebody like you or me or somebody, 00:04:03.039 --> 00:04:06.599 and we put the two together, why not get paid? 00:04:06.759 --> 00:04:09.020 Get a little piece of the pie. So that works. 00:04:09.259 --> 00:04:11.759 Yeah, and it's not a sale at that point. No, 00:04:11.879 --> 00:04:14.060 it's not. Michael, to somebody I know that's 00:04:14.060 --> 00:04:16.819 looking for your service. They know me. Oh, Joe. 00:04:16.899 --> 00:04:18.879 Okay, good. Yeah. Let me, I'm looking for your 00:04:18.879 --> 00:04:20.300 service. And like you said, they know what they're 00:04:20.300 --> 00:04:22.399 doing. Our friends are just looking, our colleagues 00:04:22.399 --> 00:04:23.920 are looking for someone that could do the service 00:04:23.920 --> 00:04:25.959 we're looking for. And all right. And if you're 00:04:25.959 --> 00:04:27.399 always going to ask for a referral, people always 00:04:27.399 --> 00:04:29.139 want a referral. So we're just making that introduction. 00:04:29.279 --> 00:04:31.560 It takes that, that, like I said, that awkwardness 00:04:31.560 --> 00:04:33.120 that I'm doing a sale. It's just an introduction 00:04:33.120 --> 00:04:34.800 to someone who wants to do business with you. 00:04:34.800 --> 00:04:37.600 It is. And it's so well put. I'm going to ask 00:04:37.600 --> 00:04:39.920 you about the book later on. Okay. Let me get 00:04:39.920 --> 00:04:43.660 right into this. Why do connectors often create 00:04:43.660 --> 00:04:47.319 massive value for others yet struggle to get 00:04:47.319 --> 00:04:51.259 paid out themselves? Yeah, I think, look, connectors 00:04:51.259 --> 00:04:53.420 just love connecting, right? It's something we 00:04:53.420 --> 00:04:56.319 want to do and just love making that introduction, 00:04:56.420 --> 00:04:59.439 but are always, always been afraid to ask after 00:04:59.439 --> 00:05:00.959 because it's like, I introduced you to somebody 00:05:00.959 --> 00:05:04.160 and I just heard you close that $250 ,000 deal. 00:05:04.920 --> 00:05:07.360 i can't go back to you after so you got to get 00:05:07.360 --> 00:05:09.139 that upfront thing going now and that's what 00:05:09.139 --> 00:05:11.639 we're talking about so they're often giving out 00:05:11.639 --> 00:05:13.379 those referrals because they love making introductions 00:05:13.379 --> 00:05:15.800 i didn't make introductions all day long and 00:05:15.800 --> 00:05:17.540 they're just they're hoping i think that someone 00:05:17.540 --> 00:05:20.149 would pay them and do the right thing but Why 00:05:20.149 --> 00:05:21.810 would they have no contract to do? And that's 00:05:21.810 --> 00:05:23.350 why we're putting in place to say, look, you 00:05:23.350 --> 00:05:25.769 should start getting paid now. But put that up 00:05:25.769 --> 00:05:28.189 for upfront contract that says I will introduce 00:05:28.189 --> 00:05:30.509 you. I'm going to get paid now. So because they 00:05:30.509 --> 00:05:32.050 haven't been getting paid and they're always 00:05:32.050 --> 00:05:34.689 giving, giving and not getting reciprocation. 00:05:34.689 --> 00:05:36.310 I think that's the bottleneck in a lot of these 00:05:36.310 --> 00:05:39.949 networks is I give you four referrals. You don't 00:05:39.949 --> 00:05:41.670 give me anything back. I don't get paid back. 00:05:42.060 --> 00:05:44.019 I gave you four deals, Michael. You closed two 00:05:44.019 --> 00:05:46.240 of them. You don't have one person you can introduce 00:05:46.240 --> 00:05:49.379 me to? Now I'm not giving you any more business. 00:05:49.839 --> 00:05:52.519 Not because I'm a jerk, just because I'm like, 00:05:52.560 --> 00:05:54.240 I give you four deals. There's not one person. 00:05:54.560 --> 00:05:57.579 But if you paid me on two of those deals, now 00:05:57.579 --> 00:05:59.160 I'm going to keep that flywheel open and keep 00:05:59.160 --> 00:06:02.600 giving you business. I'm happy now. I would love 00:06:02.600 --> 00:06:05.120 if you gave me a referral back, reciprocated, 00:06:05.160 --> 00:06:06.699 but maybe you're not a connector. Maybe you don't 00:06:06.699 --> 00:06:09.000 have a good network. But I do, so I'll keep giving 00:06:09.000 --> 00:06:10.839 you business. I just want a little piece of the 00:06:10.839 --> 00:06:13.589 business. The other person's, again, happy because 00:06:13.589 --> 00:06:16.790 you're the one that's connecting me. So you have 00:06:16.790 --> 00:06:18.589 all the introductions. I'm happy to pay you because 00:06:18.589 --> 00:06:20.709 I know you bring me more business. So it's a 00:06:20.709 --> 00:06:24.310 simple, simple two -way street here. On a small 00:06:24.310 --> 00:06:28.029 business plane, if you're just dealing, because 00:06:28.029 --> 00:06:31.970 I hold a networking group every week and it's 00:06:31.970 --> 00:06:35.410 about 15, 20 businesses come together, but they're 00:06:35.410 --> 00:06:39.480 all a single man shop. They're just starting 00:06:39.480 --> 00:06:43.660 out. So how would you handle speaking to somebody, 00:06:43.779 --> 00:06:47.100 let's say of that group on what you're doing? 00:06:48.259 --> 00:06:50.540 Yeah. So listen, they got to utilize the other 00:06:50.540 --> 00:06:52.319 people in the group, right? Cause every one of 00:06:52.319 --> 00:06:54.060 those 20, there's only 20 people, right? And 00:06:54.060 --> 00:06:55.740 they're single man shopper. The only person that's 00:06:55.740 --> 00:06:58.220 doing sales, you got to use the other 19 people 00:06:58.220 --> 00:07:00.259 in our group to open those doors for you. But 00:07:00.259 --> 00:07:02.220 a lot of times people just sit back and wait 00:07:02.220 --> 00:07:04.779 for them to open a door. Right. But you got to 00:07:04.779 --> 00:07:08.060 ask. the other person group hey john listen i 00:07:08.060 --> 00:07:10.980 noticed on linkedin three people are cfos i'd 00:07:10.980 --> 00:07:12.699 like to talk to cfos because i'm an accountant 00:07:12.699 --> 00:07:15.379 do you know any of those cfos well enough to 00:07:15.379 --> 00:07:18.120 make an introduction oh i do yeah i know i know 00:07:18.120 --> 00:07:19.870 this one and that one good Do you mind asking 00:07:19.870 --> 00:07:21.529 them if they're looking for somebody with my 00:07:21.529 --> 00:07:25.069 services? And then, yeah, they go back to that 00:07:25.069 --> 00:07:26.810 person and say, hey, I wanted to introduce you 00:07:26.810 --> 00:07:28.470 to a friend of mine. He does accounting. He'd 00:07:28.470 --> 00:07:30.829 like to talk to you. Maybe one of those two CFOs 00:07:30.829 --> 00:07:32.350 are like, yeah, actually, we're looking for a 00:07:32.350 --> 00:07:34.329 new accounting firm for a company. And then they 00:07:34.329 --> 00:07:36.810 make the introduction. But these are 19 other 00:07:36.810 --> 00:07:39.389 salespeople that are, you're a one -man shop. 00:07:39.509 --> 00:07:41.230 You don't have a sales crew. No, you do. You 00:07:41.230 --> 00:07:43.670 have 19 other people that are a salesperson for 00:07:43.670 --> 00:07:45.930 you. You just got to ask them who they know to 00:07:45.930 --> 00:07:48.009 get you in the door. And if they tell you they 00:07:48.009 --> 00:07:49.910 don't know somebody, Tell them, you know what? 00:07:50.170 --> 00:07:52.529 Okay, Michael, go on LinkedIn. Look at it. Because 00:07:52.529 --> 00:07:54.149 a lot of times we forget. I don't remember what 00:07:54.149 --> 00:07:56.250 every one of my buddies from college does. People 00:07:56.250 --> 00:07:58.470 I went to high school with. You forget. Oh, you 00:07:58.470 --> 00:08:00.709 know what? Do me a favor. Type in CFO in LinkedIn. 00:08:01.490 --> 00:08:03.589 Oh, yeah. You know what? I do know John. I forgot 00:08:03.589 --> 00:08:05.870 he's a CFO. Yeah, I can make that introduction 00:08:05.870 --> 00:08:08.110 for you. So utilize those people. They're your 00:08:08.110 --> 00:08:10.310 sales force. That's why you join a networking 00:08:10.310 --> 00:08:13.509 group. So hire a sales force. Absolutely. Absolutely. 00:08:14.230 --> 00:08:18.579 Okay. At what point does a network stop being 00:08:18.579 --> 00:08:21.620 just relationships and become something people 00:08:21.620 --> 00:08:27.060 should be compensated for stewarding? That's 00:08:27.060 --> 00:08:28.920 the tough part. And that's why we're out there 00:08:28.920 --> 00:08:31.620 with this mantra, connectors get paid. We all 00:08:31.620 --> 00:08:34.960 have to agree upon it, right? And we're trying 00:08:34.960 --> 00:08:36.220 to get it out there. And that's why I'm doing 00:08:36.220 --> 00:08:38.639 these podcasts. Hey, if you're a connector, demand 00:08:38.639 --> 00:08:41.039 your networking group to pay you. Hey, I could 00:08:41.039 --> 00:08:43.259 join another group. This other group over here, 00:08:43.299 --> 00:08:44.740 I heard they're paying their people that are 00:08:44.740 --> 00:08:47.279 making introductions, right? So I think all the 00:08:47.279 --> 00:08:48.960 networking groups, and look, I've talked to a 00:08:48.960 --> 00:08:50.100 lot of them. They're like, we don't do stuff 00:08:50.100 --> 00:08:52.379 like that. We do, you scratch my back, I scratch 00:08:52.379 --> 00:08:54.860 yours. But again, these networking groups have 00:08:54.860 --> 00:08:57.740 this bottleneck because the good connectors are 00:08:57.740 --> 00:08:59.360 in a group. They're giving, giving, not getting 00:08:59.360 --> 00:09:01.259 anything back. They go to another group, and 00:09:01.259 --> 00:09:02.740 then they go to another group. You want to keep 00:09:02.740 --> 00:09:04.740 them here. You want to keep those good connectors 00:09:04.740 --> 00:09:06.820 that are going to. stay with you if they're getting 00:09:06.820 --> 00:09:08.940 paid. And then they're giving business to the 00:09:08.940 --> 00:09:10.379 other people. So they're going to keep the other 00:09:10.379 --> 00:09:12.980 people there. So I think every networking group 00:09:12.980 --> 00:09:14.940 should be doing this because you should all be 00:09:14.940 --> 00:09:19.519 paying each other. You have a B &I, which it's 00:09:19.519 --> 00:09:24.679 one person in one industry per group. And it's, 00:09:24.679 --> 00:09:28.700 let's say, 30, 40 businesses. And they are required 00:09:28.700 --> 00:09:32.220 to give a referral or an introduction or something 00:09:32.220 --> 00:09:35.899 else. And they don't get paid for it. Right. 00:09:36.039 --> 00:09:39.000 But the requirement makes it a BS referral. That's 00:09:39.000 --> 00:09:40.879 the problem. Oh, I'm required? Okay, Michael, 00:09:40.980 --> 00:09:43.600 who do you want to talk to? CEO? Good. I got 00:09:43.600 --> 00:09:46.379 a CEO. Here's my friend, Kevin. And I introduce 00:09:46.379 --> 00:09:48.360 you. Hey, Kevin, Joe told me to call you. About 00:09:48.360 --> 00:09:50.899 what? Oh, I do accounting services. My brother's 00:09:50.899 --> 00:09:52.539 our accountant. So why would he tell you to call? 00:09:52.620 --> 00:09:54.159 Because I had to put a referral in. Otherwise, 00:09:54.340 --> 00:09:57.200 you can't force referrals. So what we teach is, 00:09:57.259 --> 00:09:59.820 look, do you know that person well? Michael, 00:09:59.879 --> 00:10:01.940 do you know that person well enough to make an 00:10:01.940 --> 00:10:04.000 introduction? Oh, yeah, that's my college roommate. 00:10:04.139 --> 00:10:06.820 Okay, good. Can you ask him if he'd like the 00:10:06.820 --> 00:10:08.720 services I provide? Here's what I provide. Is 00:10:08.720 --> 00:10:10.879 he in the market for those services? And if he 00:10:10.879 --> 00:10:13.000 is, then you make the introduction. And you are 00:10:13.000 --> 00:10:14.340 making the intro because you're going to get 00:10:14.340 --> 00:10:16.899 paid on the intro. So you have an incentive to 00:10:16.899 --> 00:10:19.100 get that introduction done and to make sure that. 00:10:19.629 --> 00:10:21.389 Both are following up. I'm following up with 00:10:21.389 --> 00:10:23.669 the lead you gave me and your roommate is following 00:10:23.669 --> 00:10:25.309 up with me and making sure I get back to you. 00:10:25.370 --> 00:10:27.629 So otherwise, everyone just throws out a referral. 00:10:27.929 --> 00:10:29.870 Here you go. You want a referral? I could give 00:10:29.870 --> 00:10:31.830 you a referral right now if you wanted one. But 00:10:31.830 --> 00:10:34.129 is it actually a referral that's going to close? 00:10:35.509 --> 00:10:40.149 That's why I left BNI like four years ago. I 00:10:40.149 --> 00:10:41.990 went through one year of it because everybody 00:10:41.990 --> 00:10:43.769 said, you got to go, you got to go, you got to 00:10:43.769 --> 00:10:47.370 go. I went and I'm like. There's nothing here. 00:10:47.490 --> 00:10:51.850 It's just, they refer everybody within and I 00:10:51.850 --> 00:10:55.870 didn't get a lot of it. So I know exactly what 00:10:55.870 --> 00:11:00.149 you're talking about. And it is high time that 00:11:00.149 --> 00:11:03.389 this is a needed, this is a needed something 00:11:03.389 --> 00:11:07.149 for what's called a super connector. Yeah. And 00:11:07.149 --> 00:11:09.370 I think every super connectors, I can't believe 00:11:09.370 --> 00:11:11.090 you guys are doing this. I've been thinking about 00:11:11.090 --> 00:11:12.629 this for years. I can't believe you guys built 00:11:12.629 --> 00:11:14.450 something that actually does this. This is great. 00:11:15.719 --> 00:11:19.940 Good. What must be in place inside a community 00:11:19.940 --> 00:11:23.940 before money can enter without damaging trust? 00:11:26.299 --> 00:11:28.980 Again, we built the software, so not to sell 00:11:28.980 --> 00:11:31.120 the software, but we built the software to take 00:11:31.120 --> 00:11:33.320 care of all that, like the upfront. You're going 00:11:33.320 --> 00:11:36.220 to sign a contract that says, I will pay anyone 00:11:36.220 --> 00:11:38.440 in this group that gives me a referral, I've 00:11:38.440 --> 00:11:40.860 agreed to pay X percentage. So you need everything 00:11:40.860 --> 00:11:43.279 in writing, just like anything in life. If you 00:11:43.279 --> 00:11:44.440 think you're going to get paid on something, 00:11:44.639 --> 00:11:47.940 hey, Michael, look. No, put it in writing. Send 00:11:47.940 --> 00:11:49.399 me an email. I sent the guy an email the other 00:11:49.399 --> 00:11:51.480 day. Hey, just want to put this in the email 00:11:51.480 --> 00:11:53.700 so it's in writing that this is what we've agreed 00:11:53.700 --> 00:11:57.850 upon. If you don't use our software, some sort 00:11:57.850 --> 00:12:00.169 of software that is going to put that agreement 00:12:00.169 --> 00:12:02.269 in writing. So what we do is we have an upfront 00:12:02.269 --> 00:12:04.950 contract that says, I will pay a percentage. 00:12:05.169 --> 00:12:08.149 Everyone puts their percentage on their actual 00:12:08.149 --> 00:12:10.629 profile. Here's the percentage I actually pay. 00:12:11.149 --> 00:12:14.500 And they have to accept an introduction. Say, 00:12:14.559 --> 00:12:16.419 yes, Michael, you introduced me to that person. 00:12:16.480 --> 00:12:19.019 So again, they click on a link that says in writing, 00:12:19.159 --> 00:12:20.980 yes, you're the one that made an introduction. 00:12:21.120 --> 00:12:23.480 So I can't three months from now say, Michael, 00:12:23.519 --> 00:12:26.580 I already knew. I already knew Susie. Oh, really, 00:12:26.740 --> 00:12:29.639 Joe? No, you accepted that I made the introduction 00:12:29.639 --> 00:12:31.720 to you. So you just have to have those things 00:12:31.720 --> 00:12:33.399 in place, right? You want to trust everybody, 00:12:33.659 --> 00:12:35.940 but you can't. So we have a bunch of things in 00:12:35.940 --> 00:12:38.379 place that before anything goes across, before 00:12:38.379 --> 00:12:41.299 any money's done, sign these contracts that everyone's 00:12:41.299 --> 00:12:42.659 in agreement on what's going to happen here. 00:12:43.049 --> 00:12:44.970 If your client closes a deal for 10 grand, I 00:12:44.970 --> 00:12:47.929 know I'm going to get 7 % of that. So I know 00:12:47.929 --> 00:12:50.129 I'm going to get $700 into the pot. It's all 00:12:50.129 --> 00:12:54.389 in there in writing. Good. Okay. What separates 00:12:54.389 --> 00:12:58.450 communities that generate steady income from 00:12:58.450 --> 00:13:00.830 those that stay social but never go further? 00:13:02.700 --> 00:13:05.200 I mean, that steady income is going to keep people 00:13:05.200 --> 00:13:07.299 there. And I think people get to, I've seen a 00:13:07.299 --> 00:13:08.879 lot of communities I've talked to over the last 00:13:08.879 --> 00:13:11.720 couple of years that get to 60 people and then 00:13:11.720 --> 00:13:14.220 just go stagnant. Because again, after that first 00:13:14.220 --> 00:13:15.860 year, you get all that momentum building and 00:13:15.860 --> 00:13:17.960 then the connectors are leaving because they're 00:13:17.960 --> 00:13:20.000 not getting business back. So they leave, the 00:13:20.000 --> 00:13:21.179 other people leave because they're not getting 00:13:21.179 --> 00:13:22.639 business from the connectors anymore and just 00:13:22.639 --> 00:13:25.440 go stagnant. And they stay at 60 and they lose 00:13:25.440 --> 00:13:27.259 a couple of people. They never get to that other 00:13:27.259 --> 00:13:29.500 point. I have a guy, he's been running a group 00:13:29.500 --> 00:13:32.639 for 10 years now. He's got 60 members. right? 00:13:32.679 --> 00:13:35.340 Our group has been three years. We have 550 members. 00:13:35.860 --> 00:13:37.419 They're like, well, how do you have so many members? 00:13:37.580 --> 00:13:40.139 And our group charges double what they charge. 00:13:40.259 --> 00:13:43.519 I said, because everyone's getting paid. It's 00:13:43.519 --> 00:13:46.720 just a simple switch. Let's all pay each other. 00:13:46.799 --> 00:13:49.200 And now that money's flowing in. So if you get 00:13:49.200 --> 00:13:51.700 a deal. More deals are happening because people 00:13:51.700 --> 00:13:53.559 are introducing more people because they're going 00:13:53.559 --> 00:13:55.840 to get paid. And then the connectors are getting 00:13:55.840 --> 00:13:57.360 more money. So they stay in a group and keep 00:13:57.360 --> 00:13:59.580 giving one out. Without the ROI, and we've talked 00:13:59.580 --> 00:14:01.120 to a lot of chambers, like we're talking to chambers 00:14:01.120 --> 00:14:03.419 right now. Chambers love what we're doing. They're 00:14:03.419 --> 00:14:05.740 like, we need non -dues revenue. We can't just 00:14:05.740 --> 00:14:08.460 rely on the dues to come in. Because if that's 00:14:08.460 --> 00:14:10.299 all it is, our members are going to leave. But 00:14:10.299 --> 00:14:13.399 now they want other revenue sources. Oh, this 00:14:13.399 --> 00:14:15.600 is great. Now we can pay our members when they 00:14:15.600 --> 00:14:18.139 get deals done. And the chamber could get a cut 00:14:18.139 --> 00:14:20.440 of every deal that goes through. This is great. 00:14:20.539 --> 00:14:22.700 This is a great revenue source. And the software 00:14:22.700 --> 00:14:25.519 doesn't cost $129 a month. It's not like we're 00:14:25.519 --> 00:14:28.460 trying to, because we're invested in people being 00:14:28.460 --> 00:14:31.419 successful. So the deals come in, we all make 00:14:31.419 --> 00:14:33.100 money, including us. And that's how we set up 00:14:33.100 --> 00:14:36.000 the model, right? Deals come in, we make money, 00:14:36.059 --> 00:14:37.840 the community makes money, the member makes money. 00:14:38.659 --> 00:14:44.320 Everybody's happy. Good, good. Okay. Many people 00:14:44.320 --> 00:14:48.580 underestimate the work involved. What does it 00:14:48.580 --> 00:14:52.399 truly take? behind the scenes to build a network 00:14:52.399 --> 00:14:58.039 worth paying for. Yeah, I mean, this has been 00:14:58.039 --> 00:15:00.000 going on for a few years now. I think we're at 00:15:00.000 --> 00:15:02.980 five years or so now. Look, it takes a lot. When 00:15:02.980 --> 00:15:05.539 you're starting a network, you're the one bringing 00:15:05.539 --> 00:15:08.159 people in. You got to convince them why you should 00:15:08.159 --> 00:15:10.789 be part of your network. And I would be on LinkedIn. 00:15:10.830 --> 00:15:12.830 I would be on Lunch Club. I would go to meetings. 00:15:13.090 --> 00:15:15.490 And you got to put, like any business, you got 00:15:15.490 --> 00:15:17.429 to put the time in to grow it and convince somebody 00:15:17.429 --> 00:15:19.590 why your network is better than the other. And 00:15:19.590 --> 00:15:21.850 for me, it was that whole mantra of getting paid. 00:15:22.210 --> 00:15:24.330 Hey, you want to be in a network that pays for 00:15:24.330 --> 00:15:26.309 your referrals? Come over here. And that was 00:15:26.309 --> 00:15:28.610 my simple message on LinkedIn. Hey, Michael, 00:15:28.710 --> 00:15:30.570 we have a networking group that pays you for 00:15:30.570 --> 00:15:32.809 your referrals. Was that of interest to you? 00:15:33.230 --> 00:15:35.889 Yes or no? And you send 50 of those messages 00:15:35.889 --> 00:15:37.809 out every day on LinkedIn or whatever it is. 00:15:38.240 --> 00:15:40.259 You'll get three, four people every day responding 00:15:40.259 --> 00:15:42.620 yes, and you get those people. So it takes it. 00:15:42.659 --> 00:15:45.159 But the thing we did to build it, again, the 00:15:45.159 --> 00:15:47.639 incentive. Every group, there's not incentive. 00:15:47.960 --> 00:15:50.019 The other incentive we put into place is, okay, 00:15:50.039 --> 00:15:52.220 Michael, you join up. It's $100 a month to join. 00:15:53.019 --> 00:15:54.860 If you bring another member in, we'll give you 00:15:54.860 --> 00:15:58.100 $100 for bringing that member in. So now every 00:15:58.100 --> 00:15:59.779 time you bring a member in, you're getting paid. 00:15:59.879 --> 00:16:01.960 So if you're paying $100 a month to be a member 00:16:01.960 --> 00:16:03.419 of this group and you bring in a new member, 00:16:03.580 --> 00:16:06.179 you didn't pay dues that month. Okay, so now 00:16:06.179 --> 00:16:08.220 you're incentivized. Let me see who else I can 00:16:08.220 --> 00:16:10.179 bring to the network. And then that exponential 00:16:10.179 --> 00:16:12.840 growth, that network effects just starts to happen, 00:16:12.919 --> 00:16:16.879 right? We have 3 ,300 prospects right now for 00:16:16.879 --> 00:16:20.100 our 500 -person group. 3 ,300 prospects. We have 00:16:20.100 --> 00:16:22.080 six times the amount of prospects trying to join 00:16:22.080 --> 00:16:24.100 our group because people are like, I want that. 00:16:24.179 --> 00:16:25.559 And the members are bringing those prospects 00:16:25.559 --> 00:16:27.679 in because they want the incentive to get the 00:16:27.679 --> 00:16:29.700 money. And then they're going to get more people 00:16:29.700 --> 00:16:31.620 on that deals are going to flow in and get more 00:16:31.620 --> 00:16:34.730 money. So it's just... Again, the thing that 00:16:34.730 --> 00:16:37.129 was missing and I saw with BNI and LinkedIn and 00:16:37.129 --> 00:16:38.909 anything, any of the other networking things 00:16:38.909 --> 00:16:41.750 is where's the incentive for me? Where's the 00:16:41.750 --> 00:16:43.970 incentive for everybody? And what's the greatest 00:16:43.970 --> 00:16:48.470 incentive? Money. Absolutely. Absolutely. No, 00:16:48.950 --> 00:16:52.269 I couldn't agree more than 100%. It's exactly 00:16:52.269 --> 00:16:56.049 what is needed. I've been networking my whole 00:16:56.049 --> 00:17:00.149 life. I made it into a business three years ago. 00:17:00.639 --> 00:17:03.820 And I have networking groups. I go to different 00:17:03.820 --> 00:17:06.859 events. I think I'm holding my own event and 00:17:06.859 --> 00:17:09.940 I understand exactly where you're coming from. 00:17:10.000 --> 00:17:12.059 And this has been needed for quite some time. 00:17:12.720 --> 00:17:15.960 People love the idea of passive income from a 00:17:15.960 --> 00:17:19.579 network. What parts can eventually run quietly 00:17:19.579 --> 00:17:25.180 and what parts require attention? Yeah, so look, 00:17:25.299 --> 00:17:27.740 once it's set up in a system and people get to 00:17:27.740 --> 00:17:30.250 know and start to build relationships. That just 00:17:30.250 --> 00:17:31.630 starts to happen. So you don't have to push it 00:17:31.630 --> 00:17:33.390 anymore. You start to build this relationship 00:17:33.390 --> 00:17:35.369 with the group. Now you and I are referral partners. 00:17:35.490 --> 00:17:38.009 So I'm just quietly giving you referrals because 00:17:38.009 --> 00:17:40.369 you've done a great job. I've introduced you 00:17:40.369 --> 00:17:42.309 to a couple of clients. You're doing an awesome 00:17:42.309 --> 00:17:44.609 job for me. And I keep making money off of you. 00:17:44.670 --> 00:17:47.430 I'm just now quietly, you and I are just sending 00:17:47.430 --> 00:17:49.369 referrals. But I keep sending it to you and I 00:17:49.369 --> 00:17:51.369 keep putting it into the system and the community 00:17:51.369 --> 00:17:53.809 owner keeps getting paid every time. So they're 00:17:53.809 --> 00:17:55.289 happy the deal's going on. Then that passive 00:17:55.289 --> 00:17:57.589 income just kicks in, right? We did in the last 00:17:57.589 --> 00:17:59.940 two weeks. our community, for the groups out 00:17:59.940 --> 00:18:01.779 there that run networking groups, chambers, whatever, 00:18:01.980 --> 00:18:04.920 our community made $5 ,000 in the last two weeks 00:18:04.920 --> 00:18:08.599 in passive income. Just deals that I don't even 00:18:08.599 --> 00:18:11.039 know about. That's where it starts to get interesting. 00:18:11.259 --> 00:18:12.819 I was on a call today with a group that has 2 00:18:12.819 --> 00:18:15.759 ,000 members, a chamber of commerce out west. 00:18:15.839 --> 00:18:18.819 They have 2 ,000 members. We just generated five 00:18:18.819 --> 00:18:21.539 grand from 500 members. That's exponentially 00:18:21.539 --> 00:18:24.680 grow that. That's $20 ,000. That's in two weeks. 00:18:24.779 --> 00:18:30.019 That's $40 ,000 a month. $500 ,000 that a chamber 00:18:30.019 --> 00:18:34.160 or other can make in passive income. So it just, 00:18:34.299 --> 00:18:37.099 once it starts going, there's, again, our group, 00:18:37.119 --> 00:18:39.359 I always use our group, we have 4 ,300 deals 00:18:39.359 --> 00:18:42.940 going on right now, 4 ,300 deals in a 500 person 00:18:42.940 --> 00:18:47.720 group, right? Because the incentives there, these 00:18:47.720 --> 00:18:51.200 people want to, it's just, it's so simple and 00:18:51.200 --> 00:18:54.269 so easy and so effective. And that's why I try 00:18:54.269 --> 00:18:57.390 and tell people, why are we at 550 members after 00:18:57.390 --> 00:18:59.690 three years and you're at 60 members after 10 00:18:59.690 --> 00:19:03.130 years? Not much different. Networking is not 00:19:03.130 --> 00:19:05.490 much different across things. Pull people together, 00:19:05.730 --> 00:19:07.390 let them talk to each other through referrals, 00:19:07.549 --> 00:19:11.130 but we're paying people. The numbers don't lie 00:19:11.130 --> 00:19:14.829 in anything, right? That's the difference. That's 00:19:14.829 --> 00:19:18.210 the difference. Okay. How should connectors think 00:19:18.210 --> 00:19:21.859 about pricing their access? introductions or 00:19:21.859 --> 00:19:25.440 community without feeling awkward or apologetic. 00:19:26.619 --> 00:19:28.839 So listen, when you're starting a community and 00:19:28.839 --> 00:19:30.960 you have no proven track record, you're going 00:19:30.960 --> 00:19:32.920 to have to go low, right? When I started, our 00:19:32.920 --> 00:19:35.140 community was 500 bucks for the year, right? 00:19:35.240 --> 00:19:36.799 Which there's communities out there charging 00:19:36.799 --> 00:19:39.500 $6 ,000 for the year, right? We were 500, right? 00:19:39.599 --> 00:19:41.819 And then we got to 100 people. Okay, now we have 00:19:41.819 --> 00:19:43.640 a little bigger community. We're going to start 00:19:43.640 --> 00:19:46.559 charging $100 a month. Nobody batted an eye, 00:19:46.619 --> 00:19:48.700 right? And now we haven't even raised it in a 00:19:48.700 --> 00:19:50.339 while because we're still doing that. So you 00:19:50.339 --> 00:19:52.640 want to price it. Where's the value? Am I going 00:19:52.640 --> 00:19:55.119 to pay $100 a month for 20 people in a group? 00:19:55.220 --> 00:19:57.799 No. You got 100 people in a group? Maybe I'll 00:19:57.799 --> 00:20:00.880 pay $100 a month. Now you got 500, 1 ,000 people 00:20:00.880 --> 00:20:02.460 in a group? Maybe you're going to pay $250 a 00:20:02.460 --> 00:20:04.779 month. So base it on the value you're providing, 00:20:04.940 --> 00:20:06.900 right? People want to pay for value, right? When 00:20:06.900 --> 00:20:08.859 I first started, I had a guy come to the New 00:20:08.859 --> 00:20:10.940 York meeting. There's eight people there. He's, 00:20:11.000 --> 00:20:13.650 call me when you're bigger. which I get it, right? 00:20:13.769 --> 00:20:15.589 Okay. You don't want to be here when we're starting. 00:20:16.029 --> 00:20:17.690 And honestly, a year later, he tried to join. 00:20:17.730 --> 00:20:19.029 I'm like, you know what? You didn't want to take 00:20:19.029 --> 00:20:21.150 the chance when we started. You're not in now. 00:20:21.309 --> 00:20:24.480 I told him no. But listen, I get it. There was 00:20:24.480 --> 00:20:25.960 no value at the beginning. I don't want to come 00:20:25.960 --> 00:20:27.779 here where there's eight people here. So I think 00:20:27.779 --> 00:20:30.019 you got to price it according to how many people 00:20:30.019 --> 00:20:31.720 you have, how much value you're bringing, right? 00:20:32.000 --> 00:20:33.940 Now we've been around for a while. We could probably 00:20:33.940 --> 00:20:35.900 raise our prices if we wanted to, because we 00:20:35.900 --> 00:20:37.720 could see all the value, see all the deals we're 00:20:37.720 --> 00:20:40.200 going. And as far as the value you're putting 00:20:40.200 --> 00:20:43.059 on you to pay for these referrals, you have to 00:20:43.059 --> 00:20:45.119 decide what your margin is that you could afford 00:20:45.119 --> 00:20:47.359 to pay the other member of the group. Hey, Michael, 00:20:47.420 --> 00:20:48.680 you're a member of the group. I'll give you 10 00:20:48.680 --> 00:20:50.940 % of whatever comes in. I'm going to pay 10 % 00:20:50.940 --> 00:20:53.319 on that. Or I'm going to pay 7%. Or I'm going 00:20:53.319 --> 00:20:55.720 to pay 12%. It's up to the members what they 00:20:55.720 --> 00:20:57.319 want to pay. They put it in the system, tell 00:20:57.319 --> 00:20:59.059 you what to pay. That's what the system will 00:20:59.059 --> 00:21:02.240 do. But the problem we see a lot is someone will 00:21:02.240 --> 00:21:03.900 be like, I'm only going to pay for the first 00:21:03.900 --> 00:21:07.140 deal. And people aren't incentivized like that. 00:21:07.200 --> 00:21:11.359 If the initiation fee is $500 and you're paying 00:21:11.359 --> 00:21:15.789 10%, that's $50. You're doing an ongoing deal 00:21:15.789 --> 00:21:17.170 with this company because you're the one that 00:21:17.170 --> 00:21:18.789 made a referral. And all of a sudden, you're 00:21:18.789 --> 00:21:20.309 out with your friend. Oh, yeah, we're doing $10 00:21:20.309 --> 00:21:22.190 ,000 a month with Michael. He's been doing a 00:21:22.190 --> 00:21:25.049 great job. $10 ,000 a month? That guy only paid 00:21:25.049 --> 00:21:28.910 me on the first $500. So don't undervalue your 00:21:28.910 --> 00:21:31.430 incentive for the other people to give you money. 00:21:31.569 --> 00:21:33.009 Because I'm not going to go back to you if I 00:21:33.009 --> 00:21:35.809 find it out. I made $50 off that deal, and I 00:21:35.809 --> 00:21:38.549 know you're making $10 ,000 a month. So you've 00:21:38.549 --> 00:21:41.049 got to make sure there's a value to the other 00:21:41.049 --> 00:21:44.069 member to bring you more business. So incentivize 00:21:44.069 --> 00:21:47.630 them. Give them a good commission. Okay. All 00:21:47.630 --> 00:21:51.930 right. What are the fastest ways people damage 00:21:51.930 --> 00:21:54.549 a community when they rush to make money from 00:21:54.549 --> 00:21:58.910 it? That's a good one. I'll give you the story 00:21:58.910 --> 00:22:01.230 of what happened with me. When I started, I had 00:22:01.230 --> 00:22:04.210 a certain vision of what I wanted. And I want 00:22:04.210 --> 00:22:06.480 a certain... type of person in the group right 00:22:06.480 --> 00:22:08.660 i wanted someone to more higher end business 00:22:08.660 --> 00:22:11.720 we want to b2b we wanted people that really vetted 00:22:11.720 --> 00:22:13.579 out right we didn't want to let like a lot of 00:22:13.579 --> 00:22:16.380 groups the problem is and not to say any groups 00:22:16.380 --> 00:22:18.099 but as long as you have a hundred dollars and 00:22:18.099 --> 00:22:20.519 a pulse you're in right because they want to 00:22:20.519 --> 00:22:22.500 make money so i did the same thing right i had 00:22:22.500 --> 00:22:25.039 a certain thing i wanted to do And, but all of 00:22:25.039 --> 00:22:26.740 a sudden it was growing. Somebody wanted to open 00:22:26.740 --> 00:22:28.380 up a chapter. I said, oh, Michael, you want to 00:22:28.380 --> 00:22:29.980 open up a chapter in Atlanta? Go ahead. Yeah, 00:22:30.079 --> 00:22:32.019 that sounds cool. And someone else wanted to 00:22:32.019 --> 00:22:33.480 open one. All of a sudden I had four chapters 00:22:33.480 --> 00:22:35.559 of this group that I was starting in the first 00:22:35.559 --> 00:22:37.680 six months to a year. And it was great. We're 00:22:37.680 --> 00:22:39.539 going to make a ton of money. Now we'll get more 00:22:39.539 --> 00:22:41.700 members in. We were just letting everybody in. 00:22:42.319 --> 00:22:44.559 We started to just loosen up the reins because 00:22:44.559 --> 00:22:47.079 again, someone comes to meetings, eight people. 00:22:47.660 --> 00:22:50.039 That looks bad. I want 20 people in those seats. 00:22:50.140 --> 00:22:52.619 So I'll let Susie in, even though she's not the 00:22:52.619 --> 00:22:55.160 best member, right? But then you devalue your 00:22:55.160 --> 00:22:56.880 group because you have people in there that aren't 00:22:56.880 --> 00:22:59.759 good networkers, don't do a good job, make you 00:22:59.759 --> 00:23:02.259 look bad in front of the client, right? So I 00:23:02.259 --> 00:23:04.799 literally woke up one morning and I had about 00:23:04.799 --> 00:23:07.599 60 members in my group because I wanted to grow 00:23:07.599 --> 00:23:09.880 this quickly. And I woke up one morning, I cut 00:23:09.880 --> 00:23:12.700 30 people out. I sent them a note that day and 00:23:12.700 --> 00:23:14.680 said, sorry, Michael, we're going a different 00:23:14.680 --> 00:23:17.690 direction. Nicely, you're not part of that direction. 00:23:17.869 --> 00:23:19.809 We're just going a different thing. And from 00:23:19.809 --> 00:23:21.849 there, we always stuck to our guns about who 00:23:21.849 --> 00:23:23.869 gets in the group. Because if you're just trying 00:23:23.869 --> 00:23:25.569 to grow a group fast and get as many people in 00:23:25.569 --> 00:23:26.809 there, you're going to have bad people in there. 00:23:26.910 --> 00:23:28.069 And then the good people are going to leave. 00:23:29.130 --> 00:23:33.250 So we don't put the value on the $100 a month. 00:23:33.410 --> 00:23:36.369 We don't care about your $100. That's what we 00:23:36.369 --> 00:23:38.250 charge to be in our group. I don't want you in 00:23:38.250 --> 00:23:41.319 just to get $100. right if you're not if you're 00:23:41.319 --> 00:23:43.099 not a good member of our group we don't have 00:23:43.099 --> 00:23:45.519 a bad feeling about you somebody raised their 00:23:45.519 --> 00:23:47.039 hand and says i've done business that michael 00:23:47.039 --> 00:23:50.000 before i don't like you're not in where other 00:23:50.000 --> 00:23:52.519 groups are back up you got 100 bucks you're in 00:23:52.519 --> 00:23:54.299 yeah so that's the bad part you don't want to 00:23:54.299 --> 00:23:56.779 just go after as many people as you can it's 00:23:56.779 --> 00:23:59.619 just not going to be long no and i understand 00:23:59.619 --> 00:24:05.880 that 100 i i've i don't charge for my being in 00:24:05.880 --> 00:24:08.059 my group, but I know exactly what you're saying 00:24:08.059 --> 00:24:12.140 because I've had to cut people out. Now it's 00:24:12.140 --> 00:24:15.380 a free group. So for me to cut somebody out, 00:24:15.480 --> 00:24:17.660 what are you doing? It's, this is free. I don't 00:24:17.660 --> 00:24:20.259 have to come to you. I know, but I would prefer 00:24:20.259 --> 00:24:23.279 if you didn't come to the meetings at all. So 00:24:23.279 --> 00:24:26.099 without putting a price on it, I've had to do 00:24:26.099 --> 00:24:29.000 the very same thing only because I wanted to 00:24:29.000 --> 00:24:32.299 keep the integrity of the group. Exactly. And 00:24:32.299 --> 00:24:36.480 that's what you have to do. Okay. How does patience 00:24:36.480 --> 00:24:40.599 shape who succeeds in turning relationships into 00:24:40.599 --> 00:24:44.940 income versus those who burn out or fade away? 00:24:46.759 --> 00:24:49.460 Look, patience is the biggest thing in sales. 00:24:49.619 --> 00:24:53.259 You can't expect somebody to buy when you want 00:24:53.259 --> 00:24:55.920 them to. I want to get my quota done this month, 00:24:56.000 --> 00:24:59.180 but the person's not ready to buy. I tell everyone, 00:24:59.240 --> 00:25:01.019 if you're going to be a salesman, get used to 00:25:01.019 --> 00:25:04.160 fishing. Go out and fish. Get on a lake for the 00:25:04.160 --> 00:25:06.000 day and throw your pole in there. It's going 00:25:06.000 --> 00:25:08.240 to take you six hours to land a good bass, right? 00:25:08.319 --> 00:25:10.140 But as long as you're patient, a fish is going 00:25:10.140 --> 00:25:11.819 to hit at some point. It's not going to hit in 00:25:11.819 --> 00:25:13.359 the first hour that you want it to in the second 00:25:13.359 --> 00:25:15.720 hour. But that last fish you get, and I got it. 00:25:15.759 --> 00:25:18.420 I was up in Canada three years ago. We go fishing 00:25:18.420 --> 00:25:21.279 every year. And the last day, after three days 00:25:21.279 --> 00:25:23.099 of fishing, I hadn't caught anything. Me and 00:25:23.099 --> 00:25:25.519 my buddy are sitting on a dock sharing some tequila, 00:25:25.559 --> 00:25:28.039 and we just threw our pole in, and I hit a bass 00:25:28.039 --> 00:25:30.359 like you wouldn't believe. And it was the last 00:25:30.359 --> 00:25:32.839 hour of... Any chance to go fishing, I hit that 00:25:32.839 --> 00:25:34.859 bass. It's the same with sales, right? You got 00:25:34.859 --> 00:25:36.380 to be patient. If you're not going to be patient, 00:25:36.480 --> 00:25:38.440 you're going to get frustrated, burnout. Oh, 00:25:38.480 --> 00:25:40.140 this isn't working. Let me try something else. 00:25:40.200 --> 00:25:42.579 You can't. Go get your plan in place. Have your 00:25:42.579 --> 00:25:45.359 MVP. What's your value proposition, right, that 00:25:45.359 --> 00:25:47.359 you want to do? And go after the right people. 00:25:47.460 --> 00:25:49.720 Not all of them are going to buy. And you can't 00:25:49.720 --> 00:25:52.359 force them to buy. Hey, Michael, if you buy this 00:25:52.359 --> 00:25:54.599 month, like we'll give you a discount. All they're 00:25:54.599 --> 00:25:56.279 doing is trying to hit their quota. They don't 00:25:56.279 --> 00:25:58.660 really care if you come in as a client. They're 00:25:58.660 --> 00:26:00.619 just trying to get somebody in because they know 00:26:00.619 --> 00:26:02.940 they want to get X amount of clients this month. 00:26:03.059 --> 00:26:05.380 It's frustrating. It's the most frustrating thing 00:26:05.380 --> 00:26:08.440 possible in sales is like, I had a woman this 00:26:08.440 --> 00:26:11.579 morning said, let's wait till the spring. We 00:26:11.579 --> 00:26:14.140 have other things going on. I'm like, oh, all 00:26:14.140 --> 00:26:17.140 right, listen. I got to build a pipeline. So 00:26:17.140 --> 00:26:19.660 right now I'd love to close her. But in the spring, 00:26:19.839 --> 00:26:22.819 April comes around May. Oh, I have 10 people 00:26:22.819 --> 00:26:25.500 that said to wait to the spring. OK, I was patient. 00:26:25.619 --> 00:26:27.420 I got five of those clients. OK, but I had to 00:26:27.420 --> 00:26:31.079 be patient for again. It'll come. You just keep 00:26:31.079 --> 00:26:34.099 on to figure out a path, figure out your go to 00:26:34.099 --> 00:26:35.920 market strategy and just stay with it. Right. 00:26:35.980 --> 00:26:38.440 I do the same thing all the time. Reach out to 00:26:38.440 --> 00:26:40.619 people all the time, every day to your pipeline, 00:26:40.799 --> 00:26:43.559 build your pipeline. It's tedious, but you have 00:26:43.559 --> 00:26:46.819 to be patient with it. It's so true. And consistency 00:26:46.819 --> 00:26:51.279 is always the way you go. If you stay consistent 00:26:51.279 --> 00:26:54.940 in your marketing and everything else. So consistency 00:26:54.940 --> 00:26:59.420 is being authentic, of course, but that consistency 00:26:59.420 --> 00:27:05.279 will always net you more results. I found. Yeah. 00:27:05.380 --> 00:27:10.240 Okay. So let's bring this full circle. If someone 00:27:10.240 --> 00:27:13.640 wants to move from helpful connector. To paid 00:27:13.640 --> 00:27:17.759 community builder, what mindset shift must happen 00:27:17.759 --> 00:27:21.640 first? Yeah, if you just want to be a helpful 00:27:21.640 --> 00:27:23.339 connector, that's great and all. But if you want 00:27:23.339 --> 00:27:25.539 to really build a community, you got to go in 00:27:25.539 --> 00:27:26.960 with the fact that how are you going to build 00:27:26.960 --> 00:27:28.740 your community? How are you going to bring people 00:27:28.740 --> 00:27:30.539 in? And how are you going to monetize that community, 00:27:30.779 --> 00:27:32.559 right? What is the community you're going to 00:27:32.559 --> 00:27:34.079 bring? What type of people you want to bring 00:27:34.079 --> 00:27:36.599 in? And then you got to go from that mindset 00:27:36.599 --> 00:27:38.640 of just being a helpful connector. I'll help 00:27:38.640 --> 00:27:40.319 you here and there. You got to drive. business 00:27:40.319 --> 00:27:42.740 to those people then especially those first 10 00:27:42.740 --> 00:27:44.680 to 20 people you bring in and say hey michael 00:27:44.680 --> 00:27:46.900 come to be part of my network you better be ready 00:27:46.900 --> 00:27:48.660 not to be just a helpful connector like i'm going 00:27:48.660 --> 00:27:50.599 to drive a lot of business to you Because if 00:27:50.599 --> 00:27:52.200 I do that, you're going to tell your friends 00:27:52.200 --> 00:27:54.039 to join the group, right? And you have to go 00:27:54.039 --> 00:27:56.460 in thinking, this is a full -time job for the 00:27:56.460 --> 00:27:58.220 most part. Maybe you have another gig going on, 00:27:58.279 --> 00:28:00.319 but you got to put the time in to get this thing 00:28:00.319 --> 00:28:02.799 going. So like when I started the group, yeah, 00:28:02.880 --> 00:28:04.960 it took a lot of time to get that going. And 00:28:04.960 --> 00:28:07.079 it was every week of having meetings, doing more. 00:28:07.240 --> 00:28:08.799 And eventually you get to the part where you 00:28:08.799 --> 00:28:11.559 could start growing, but you got to get the first 00:28:11.559 --> 00:28:13.079 couple of people in there and make sure they're 00:28:13.079 --> 00:28:14.740 getting value out of the group. Because if you 00:28:14.740 --> 00:28:16.319 start getting people to leave in the first two, 00:28:16.400 --> 00:28:18.700 three months. it's not going to be good. So yeah, 00:28:18.740 --> 00:28:20.720 if you're going to start your own network, go 00:28:20.720 --> 00:28:23.380 in with a plan in place, how to do it, and make 00:28:23.380 --> 00:28:25.579 sure you're going to be out there knocking on 00:28:25.579 --> 00:28:27.240 doors, getting people in and getting results 00:28:27.240 --> 00:28:29.720 for them pretty quickly. So those first people 00:28:29.720 --> 00:28:31.299 that buy into what you're doing are going to 00:28:31.299 --> 00:28:33.000 be the ones that make or break you. Absolutely. 00:28:33.160 --> 00:28:35.980 I can't agree with you more. With my networking 00:28:35.980 --> 00:28:38.980 group that I started only about three months 00:28:38.980 --> 00:28:43.220 ago, that's exactly what I'm doing. And I'm staying 00:28:43.220 --> 00:28:46.420 consistent. I'm staying, and it's just... I only 00:28:46.420 --> 00:28:52.140 have 15 or 20 members now. It grows every week, 00:28:52.220 --> 00:28:56.200 but I put a whole lot of time into it. Okay. 00:28:57.480 --> 00:29:00.240 That conversation cuts straight to the truth. 00:29:00.460 --> 00:29:04.000 Building a network people trust doesn't happen 00:29:04.000 --> 00:29:09.019 by accident. It doesn't run itself. It takes 00:29:09.019 --> 00:29:12.640 consistency, care, and showing up long before 00:29:12.640 --> 00:29:16.319 money enters the picture. If this episode challenged 00:29:16.319 --> 00:29:19.259 you how you think about relationships, community, 00:29:19.380 --> 00:29:22.660 or getting paid the value you bring, share it 00:29:22.660 --> 00:29:25.079 with somebody who's been doing it quietly behind 00:29:25.079 --> 00:29:28.180 the scenes. Thanks for listening to Network Unleashed, 00:29:28.259 --> 00:29:31.200 Building Profitable Connections. I'm Michael 00:29:31.200 --> 00:29:34.680 Foreman. Keep building real relationships. Keep 00:29:34.680 --> 00:29:37.720 showing up. Keep creating something worth paying 00:29:37.720 --> 00:29:41.559 for. Until next time. But before we start, before 00:29:41.559 --> 00:29:45.079 we stop this podcast. Joe, I want to ask you, 00:29:45.160 --> 00:29:48.160 listen, you have a book that you published. You 00:29:48.160 --> 00:29:51.119 have this great software. What's the best way 00:29:51.119 --> 00:29:53.539 for people to get in touch with you? So if they 00:29:53.539 --> 00:29:57.079 want your services, how they can get you. So 00:29:57.079 --> 00:29:58.680 if they want to read the book, just go to Amazon, 00:29:58.940 --> 00:30:01.539 put in connectors, get paid. Kindle's 99 cents. 00:30:01.720 --> 00:30:03.119 It's a great, if you want to start a network, 00:30:03.180 --> 00:30:05.579 it's a great book to do it. Otherwise go to Joe 00:30:05.579 --> 00:30:08.400 at Nolodex, N -O -L -O -D -E -X .com. That's 00:30:08.400 --> 00:30:10.400 my email. Shoot me a note and say, I want to 00:30:10.400 --> 00:30:11.900 learn more about it. And we'll set up a time 00:30:11.900 --> 00:30:15.319 for a discovery call. That's great. Joe, I have 00:30:15.319 --> 00:30:19.059 to tell you, it was a great podcast. I'm so thankful 00:30:19.059 --> 00:30:21.980 that you came on. And I love hearing about New 00:30:21.980 --> 00:30:25.700 Jersey because I'm from New York. So we hung 00:30:25.700 --> 00:30:29.240 out in the same places. Exactly. All right, Joe, 00:30:29.359 --> 00:30:36.799 take care. Thank you. Well, hold on, folks. Don't 00:30:36.799 --> 00:30:40.250 go anywhere. Let's hear from our sponsors. David 00:30:40.250 --> 00:30:43.710 Neal, co -founder, Revved Up Kids. Revved Up 00:30:43.710 --> 00:30:46.549 Kids is on a mission to protect children and 00:30:46.549 --> 00:30:50.509 teens from sexual abuse, exploitation, and trafficking. 00:30:50.789 --> 00:30:53.970 They provide prevention training programs for 00:30:53.970 --> 00:30:57.509 children, teens, and adults. To learn more, go 00:30:57.509 --> 00:31:01.910 to revvedupkids .org. Henry Kaplan, Century 21. 00:31:02.400 --> 00:31:04.619 When it comes to making the biggest financial 00:31:04.619 --> 00:31:07.579 decision of your life, leave it in the hands 00:31:07.579 --> 00:31:10.920 of a proven professional, Henry Kaplan. Henry 00:31:10.920 --> 00:31:14.079 is a global real estate agent with Century 21, 00:31:14.279 --> 00:31:18.259 celebrating his 41st year in business. No matter 00:31:18.259 --> 00:31:20.960 where you're moving, Henry has the right connections 00:31:20.960 --> 00:31:27.960 for you. You can contact Henry at 561 -427 -4888. 00:31:29.180 --> 00:31:32.509 All right, folks. A huge thank you to our guests 00:31:32.509 --> 00:31:35.829 for sharing such incredible insights today. And 00:31:35.829 --> 00:31:38.650 of course, a big shout out to you, our amazing 00:31:38.650 --> 00:31:41.670 listeners, for tuning in and spending your time 00:31:41.670 --> 00:31:44.750 with us. If you're interested in my digital courses, 00:31:45.029 --> 00:31:47.930 being coached, or having me come and talk to 00:31:47.930 --> 00:31:51.369 your company, just go to Michael and fill out 00:31:51.369 --> 00:31:54.890 the request form. Remember, networking isn't 00:31:54.890 --> 00:31:57.589 about being perfect. It's about being present. 00:31:58.049 --> 00:32:00.740 So take what you've learned today. get out there, 00:32:00.839 --> 00:32:03.880 and make some meaningful connections. If you've 00:32:03.880 --> 00:32:06.619 enjoyed this episode, please don't forget to 00:32:06.619 --> 00:32:09.819 subscribe, leave us a review, and share it with 00:32:09.819 --> 00:32:12.140 someone who could use a little networking inspiration. 00:32:12.960 --> 00:32:16.039 Let's keep the conversation going. You can find 00:32:16.039 --> 00:32:20.380 me on Apple, Spotify, Pandora, YouTube, or my 00:32:20.380 --> 00:32:24.240 website, foreman .com slash podcasts.