How to Make friends with Billionaires Ep 368

In an episode featuring Alex Mosi, he shares his five key rules for effective networking, emphasizing the importance of remembering names, exchanging contact information with a personal touch, and providing value first without expectations. He underlines the significance of saying yes to the first invitation to build rapport and advises against asking for favors, suggesting instead to discuss challenges and let others offer assistance. These strategies are presented as a means to cultivate a network of mutually beneficial and enjoyable relationships, with the last two rules highlighted as particularly crucial.

• The conversation involves discussing strategies for networking with affluent individuals.
• Alex shares his personal experience and rules for building a network of wealthy and influential people.
• The importance of networking for personal and professional growth is emphasized.

Welcome to the game where we talk about how to get more customers, how to make more per customer, and how to keep them longer, and the many failures and lessons we have learned along the way. I hope you enjoy and subscribe.

The quote outlines the purpose of the conversation, which is to share insights on business growth and networking.

• Alex has developed five rules for effective networking based on his experiences.
• These rules are designed to help individuals connect with millionaires and billionaires authentically.
• Two of the rules, specifically the fourth and fifth, are highlighted as particularly valuable and unique.

And so I think that there's something to be said for having a deliberate process for networking without seeming like a skis, right.

This quote emphasizes the importance of having a structured approach to networking that avoids coming across as insincere or opportunistic.

• The first rule focuses on the importance of remembering and using people's names during conversation.
• Alex suggests repeating the person's name at the beginning of sentences to help memorize it.
• The rationale is that people love hearing their own name, making this approach both a memory aid and a rapport-building technique.

And so what I do is whenever I shake someone's hand, I say their name and I keep saying it in the beginning of every sentence I say. And I do it that way because I want to say it like ten times throughout the conversation and then it'll stick with me.

The quote provides a practical tactic for remembering names, which is to repeat the name multiple times during the initial conversation to ensure it is remembered.

• Alex's wife views him as the networker in their relationship.
• He acknowledges that significant opportunities in his life have come from networking.
• The saying "your network is your net worth" is mentioned, though Alex is unsure of its validity.

And a lot of the things that I've had happen in my life that have been good have happened as a result of a conversation or connection that I've had from someone I've met randomly.

This quote illustrates the profound impact that random connections and conversations have had on Alex's life, reinforcing the value of networking.

• Remembering and frequently using someone's name is crucial for showing respect and making them feel important.
• Using a person's name often in conversation reinforces the connection.

"You always remember the name. You say them a lot of times."

This quote emphasizes the significance of recalling and repeatedly mentioning a person's name in conversations to establish a sense of importance and respect.

• It is essential to obtain contact details to maintain and grow a network.
• Sending a text message with a humorous reference to the conversation or a personal trait helps in making the interaction memorable.
• Including both names in the introductory text ensures clarity and aids in future recognition.
• Adding a personal touch or detail about the other person can enhance rapport.

"You got to get the contact info and otherwise you're not going to actually have the network."

This quote underlines the necessity of collecting contact information for networking purposes.

"Alex Ramosi, mustache gym guy... nice to meet you, and then Sam Gamge, whatever."

The quote illustrates an example of how to send a memorable introductory text that includes personal details and names, which helps in establishing a connection and making the interaction memorable.

• The primary aim in networking should be to offer value to others before seeking anything in return.
• Offering unsolicited assistance or resources can significantly boost one's respect and desirability as a business contact or friend.
• The effort put into providing value without solicitation is directly proportional to the respect and opportunities one may receive.

"Always provide value first, unsolicited."

This quote encapsulates the principle of leading with generosity in networking, suggesting that offering value without expecting anything in return is key to building a strong network.

"The goal of the conversation should be to figure out how you could provide value to the person, not what that person can do for you."

The quote stresses the importance of approaching conversations with the mindset of offering assistance rather than seeking personal gain, which is a fundamental strategy for effective networking.

"I know you were talking about this. I pulled up a bunch of these suppliers that I've worked with in the past. I thought this might to be valuable for you."

This quote provides an example of how to offer value in a networking context, demonstrating the impact of taking initiative to help others based on their needs and interests.

• Emphasize the importance of providing value first in any interaction.
• Highlight the significance of saying "yes" to the first ask in networking situations.
• Explain how saying "yes" to the first ask can lead to more opportunities and solidify new connections.
• Stress the idea that people may not attempt to befriend you multiple times, so it's crucial to be receptive initially.

To key point, you provided value first.

This quote underscores the concept that offering value is a prerequisite to successful networking and building relationships.

Always say yes to the first ask, all right? Always say yes to the first ask.

Alex stresses the importance of accepting the first invitation or request from someone as a foundational rule in networking, implying it could lead to significant opportunities.

Because I have learned this, and I learned this really early in my life, that people only ask once. And most times if you don't get that first ask, they'll never ask again, right?

Alex shares a personal lesson about the rarity of second chances in networking, emphasizing the importance of seizing the first opportunity to connect with someone.

• Discuss the organic growth of the podcast through word-of-mouth.
• Mention the lack of traditional advertising such as ads, sponsorships, or selling products.
• Encourage listeners to share the podcast, mirroring how they discovered it themselves.
• Emphasize the importance of community support and good karma in entrepreneurship.

The only way this grows is through word of mouth.

This quote highlights the podcast's reliance on listeners sharing and recommending it to others for growth, as opposed to paid advertising.

And so I don't run ads, I don't do sponsorships. I don't sell anything.

Alex clarifies the podcast's growth strategy, which is purely organic and not driven by commercial means.

My only ask is that you continue to pay it forward to whoever showed you or however you found out about this podcast, that you do the exact same thing.

Alex requests that listeners promote the podcast in the same way they were introduced to it, fostering a cycle of support within the entrepreneurial community.

• Explain the dual approach of being willing to say "yes" while also being persistent in making requests.
• Highlight the importance of accommodating others' requests to maintain and grow a network.
• Acknowledge that life can be unpredictable, and flexibility is key when building relationships.

So the two sides of that one are say yes to the first ask. And if you're the one who's asking, ask multiple times.

Alex provides a two-fold strategy for networking: be open to initial requests and, when making requests, do so repeatedly to account for the complexities of life and scheduling.

• Accepting initial invitations or requests can lead to significant relationships.
• Saying yes opens the door for future interactions and opportunities.
• Initial acceptance demonstrates willingness to engage and can foster goodwill.

"So rule four, always say yes to the first ask."

This quote emphasizes the importance of being receptive to initial opportunities as they can lead to meaningful connections and future benefits.

• Avoid directly asking for favors or help to prevent others from feeling used.
• Instead, share your challenges during conversations, which may prompt offers of assistance.
• Establishing a pattern of giving without expecting immediate returns builds a positive reputation.

"And rule number five, never ask for anything. Just don't do it because they'll immediately assume that you are trying to use them for something, all right?"

This quote underscores the principle of not asking directly for help to avoid being perceived negatively and to maintain a positive, giving image.

• People tend to reciprocate kindness and assistance.
• By giving first and generously without solicitation, you encourage others to give back naturally.
• Successful networking involves forming connections with individuals who are also willing to reciprocate.

"And this is why giving first is important, because people are reciprocal in nature."

This quote explains the concept of reciprocity in human relationships and its significance in networking.

• Aim to network with individuals who are cool and reciprocal by nature.
• Enjoyable networks consist of people who are willing to give back and support each other.
• The quality of your network is enhanced by the mutual willingness to help among its members.

"Because at the end of the day, if you want to have a network that you actually enjoy, then you want to network with cool people who are reciprocal in nature and want to give back, too."

This quote highlights the importance of networking with like-minded individuals who value reciprocity and contribute positively to the relationship.

• Alex Mosi presents five key rules for effective networking.
• He emphasizes the importance of saying yes to initial requests and avoiding direct asks for help.
• The underlying principle is to build a network based on mutual giving and receiving.
• Alex Mosi's approach to networking is aimed at cultivating positive, reciprocal relationships.

"So those are the five rules for networking that have served me very well."

This quote provides a summary of Alex Mosi's personal networking rules that he believes are the foundation for successful and enjoyable networking.

• Alex Mosi introduces himself and his business, acquisition.com.
• He mentions his company's annual revenue to establish credibility.
• His motivation for sharing networking advice is to help others avoid financial struggle.

"If you guys don't know who I am, my name is Alex Mosi. I'm an acquisition.com with about $85 million a year."

This quote serves as a brief introduction to Alex Mosi's professional background, giving context to his advice and establishing his authority on the subject.