How to network with people

I always wondered to myself is there something that helps the entrepreneurs that succeed that they have which other entrepreneurs don't is it something they know is it how they run their businesses is it the people they hire is it where they went to school is that their social I say should their background their education their mental spaces what is it that makes the entrepreneur succeed welcome to my master classes where I share with you everything you need to know about how to become a high growth high scale entrepreneur I'm joined by guests we break down the myths the ideas the lengths the legends everything you need to know to become a high-growth entrepreneurs one this is the high performance zone yeah the first thing I was actually gonna ask you is around the economics of your business a duration to make as well as retail cost right because because you're doing the work you're the input so that the theory of constraint is that the theory of constraint around your business is that you can't multiply yourself does that make sense guys so you're gonna have to think really hard about that Wow we're going back to eighteen 1980s now I wonder I wonder I wonder if you shouldn't be investing in some sort of technology that would do the paintings for you that would probably multiply some of your time unless as I get the sense that you argue that you're genuinely passionate about painting yeah okay well then you want to do it yourself but then you're in a long whole game bud [Music] what's your play how long were you in this fall how old do you know married kids that you know about yeah look I would show you hon I don't want to be presumptuous it's your life but I would ten-year it but I would 10-year it out I'd put a pod put up a peg it at 35 and I'd go next 10 years podium time and I want to do as much work as I can for as many people as I can because then I'm gonna get to hold my craft which is really important and I'm gonna get a level of demand in the market where people know that this is what I do the great thing about the position you're in which excites me is that you've really picked an area to specialize in so you're not just a painter but you know what you paint and you know for what purpose so I think the one part of your business is how do i how do i what's my game plan how long am i gonna spend in the game and how do i hone the craft here's the second part of your business which i think is the really exciting part is branding and marketing right so in your mind you've got to start thinking about how do I make sure that the customer who's going to buy what I need can afford what I want and also how do I make sure that they know I exist the second part of the question is much harder just raising basic awareness and what you might want to think about here is going to art galleries and maybe thinking about a sort of partnership or relationship without galleries where they allow you to exhibit one or two of your works that's one way to do it it probably is less effective than the second one I'm going to suggest and I'm doing this on the fly but the second one I would suggest is I would find three to five high net worth individuals what we call hnw is and I would ask I would offer my services to them in exchange for a portfolio so dear monza right I know that you are somebody who loves his dog because I've seen her new Instagram profile or whatever what would you say about me doing a portrait of you and your dog together right and make it a massive canvas but I'm talking like frame canvas exactly right there you go so you're really doing it and then what I would do is once I've collected the work you're gonna give it to them and gift it to them nobody hangs a painting in the garage especially one of themselves so the first thing they're gonna do is they're gonna put in those prominent spot in the house then every person that walks in is gonna go that's for you too how did you get that and what you know is Eagles fly with Eagles high net-worth individuals keep company with high net worth individuals and that's going to create for you to the waterfall you get the customer the third bit this is going to be the tricky bit take this because this is advice that's gonna make you real money okay who takes your phone calls at the moment I thought so I thought so do you ever give an aunt who doesn't work or like a granny who's retired or a cousin who's out of jail or something right so here's what you got to do this is so important guys listen to this so the first illusion trade in market is you've got a distort supply and demand dynamics so what you got to do is you've got to figure out a way of making sure that you're not available even if you are yeah so so here's what you do so you get a phone with a number you give it to an aunt a grandmother hello you've reached your own studios okay that's all you're looking for and when people phone they've got to reach that person and then what you do is you save the voicemail on the phone as a voicemail on the company phone hello you've reached your hon studios I'm currently on assignment I'm unable to take your call for the next 48 hours please leave a message you got to create the illusion of demand you could be at home watching telly tubbies nobody knows nobody knows okay but then they're gonna phone and they're gonna leave a phone they're gonna leave a voice message then you've got to get a person to communicate on your behalf never ever put yourself as the person selling the product anyone here ever met Daimler when you bought a Mercedes yeah because he didn't sell the cars himself anybody have met Henry Ford when they bought a Ford how many of you hear phone bill gates when you bought a Microsoft product yeah yeah always create a distance between yourself and the customer make sense I did that for many years but he's got it but remember this never being involved in the price discussion yourselves you don't want to be involved in the price discussion yourself so the next thing I would do is set a price but this is the price guys when you set a price be honest - the price don't shift don't move you're not saving are cha this thing is not negotiable set the price this is the price of my work it's the value of my time and then you get the person who phones in your behalf to talk about to the customer about the value of the work this is not about price okay because then so you'll remove yourself from the process while you're in the process you create the illusion of demand you supply this stuff to high net-worth individuals will network it with other high net-worth individuals and i promise you now in ten years time you are not gonna have a very different conversation and whatever happens I just want 10% you

Channel: MyGrowthFund Venture Partners

Views: 30,214

Keywords: Network, networking, entrepreneur, entrepreneurship, vusi, thembekwayo, vusi thembekwayo, business, growth, funding

Id: Wp_1FD3M0mw

Length: 8min 3sec (483 seconds)

Published: Fri Feb 28 2020