160: John Lee Dumas, Molly Bloom, and Patrick Bet-David: Top Networking Tips Part 4

On this episode of Build Your Network, you’ll hear top networking tips from three high-profile guests – John Lee Dumas, Molly Bloom, and Patrick Bet-David.

Here’s what Travis and John, Molly and Patrick discuss in this episode:

  • Tip 1: John Lee Dumas
    • Why do so many people fail at growing their inner circle?
      • Because people don’t have guidance.
      • People need to hear the stories of how and why building your network and relationships is so important.
    • Who’s the most influential person you’ve been able to meet?
      • Sally Hogshead – she’s an incredible stage presence in live speaking.
        • She and her entire family have had insane success in all of their fields.
      • If you had to boil it down to one networking tip, what would it be?
        • Give.
        • To network more efficiently it’s always going to be you giving 50-99% to the relationship.
      • What’s a really practical way to give in a Facebook group type of setting?
        • Ask a question every day – asking a question is giving.
        • Answer a question in the Facebook group.
        • Giving one piece of support or guidance to someone in that group.
        • Consistency is key.
      • If you moved to a new place and lost all of your current contacts, how would you network?
        • He would throw a party with food, band, and drink tickets.
        • He would bring in cool, affluent entrepreneurs.
        • He would post in local Facebook groups, meetup.com, ad in a newspaper, fliers at the local We Work.
        • Ask to meet people for coffee to grow his tribe.
      • Tip 2: Molly Bloom
        • What were some of the tactics you put into play in a new place?
          • Truly caring about who people are and what their story is.
          • You never know who will be helpful in your life.
        • Talk about moving to where opportunity is.
          • You have to decide who and what you want to be in the world.
          • You have to do real, substantial work on fear.
          • Know the difference between fear and danger, meditation helps.
        • Have you been able to keep your network intact since you’ve stopped poker?
          • She’s created a completely different network.
          • She’s more interested in impact now.
          • Once you build a network, you know how to do it and you can do it anywhere.
        • Tip 3: Patrick Bet-David
          • Tell us about a time when a connection led to a moment of success.
            • He met someone who asked him to meet his son in prison.
              • Through referrals that contact made him $30 million.
            • Another story – he met with a guy in the insurance business.
              • They built a strong relationship and he put him in contact with Steve Wozniak.
              • Steve stayed for a long time.
            • He connected with Mark Cuban to get the word out on Cyber Dust.
            • He met a guy from Peru who put him in contact with Robert Kiyosaki.
            • If you get into the right circles, networking can completely change the game for you.
          • Why do you think so many people fail to network?
            • He believes in capitalism after coming from a communist and imperialist background.
            • He doesn’t feel bad for people who play games and are lazy instead of reading books and getting to work.
            • People put very little energy and obsession into working things out.
          • What are some practical ways that you add more value to your inner circle than you receive?
            • When he got out of the army, he decided that whatever his army contacts needed (other than paying bills), he would help.
            • 90% of people didn’t help him out back, but the 10% that did more than made up for it.
          • If you had to narrow it down to one networking tip, what would it be?
            • You have to paint the picture clearly of what you need.
            • If you ask for general referrals, you’re not getting the highest reward.
          • If you moved to a new place and lost all of your contacts, how would you rebuild?
            • Listen to people, take notes, see what matters.
            • Write details about people in the notes on your phone.

Tweetable Quotes:

  • To network more efficiently it’s always going to be you giving 50-99% to the relationship.
  • You need to know the difference between fear and danger.
  • Once you build a network, you know how to do it and you can do it anywhere.

Resources Mentioned:

Buildyournetwork.co – Podcast website

BYN.media/fb – Facebook Group

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