TBC: Building a Helpful Network Ethic

TBC134: Building a Helpful Network Ethic

[00:00:00] ​

[00:00:00]

[00:00:04] Hey there. Welcomeback to another episode of the Back Channel. In today's episode, I want totouch on some of the components associated with network building, relationshipbuilding, the things that people are starting to get an understanding around,around how important they are to successful fundraising.

[00:00:21] A lot of times I getquestions around when should I do it? How can I do it? What's effective? Whatare some of the strategies? And I will say that there's some stuff that you cando. In the short term, short term relationship building and networking is muchharder, but there are things that can be done. In today's episode, I wanna talka little bit about essentially like what are some of the easier things that canbe done and how effective are the small things.

[00:00:46] The reason I bringthis up is because of a small story. Well, I was scrolling through LinkedIn andsaw a woman post about her business, launching her new business, describingwhat it was. And I had this [00:01:00]immediate feeling like I would love to help her. I comment on it, commented forreach, reach out to her, asked her if she needed any help.

[00:01:08] And a lot of thishas to do with the relationship I have with her. But it also goes back to astory from back when we were in business school over, call it 13 years ago. Atthis point, I was out at a party with a bunch of friends and. For reasons Istill honestly don't understand. I, I don't know what I was doing, but abouncer came up to me and started kicking me out.

[00:01:31] He was trying tokick me out of the club that we were in, and without knowing where she camefrom or that she was watching, this woman stepped in between us and was like,no, he's with us. He's with us. She went out of her way to insist that hestayed, talked to the bouncer, got him to go away, and kept, kept us in, keptme in.

[00:01:53] For the rest of thenight. It was a small throwaway thing. It wasn't a party that mattered, itwasn't that big of a deal. [00:02:00] But whatshe did really stuck with me. It, it, like, as small as it was, it reallytouched me. It really made me feel great that someone would go outta their wayto protect me, to, to bring me back into the full, to help me out.

[00:02:14] And at the time weweren't even that close. Now we spent more time over the years together. Butthat memory has always stuck with me. I've always had such a positive feelingfor this person, and so years later, whenever I hear her name pop up, whenever Isee her doing stuff, I just always have this natural, very natural, comfortablefeeling like I'd love to help her.

[00:02:37] I think she's a goodperson. I, of course think she's talented, good at what she does, but I justhave this core feeling like I really wanna help her.

[00:02:44]

[00:02:45] One thing I learnedrunning my last venture-backed startup is your lawyers really matter. Somefounders like to glaze over this decision, but don't do that. It's reallyimportant. Last time I used Gunderson Detmer and I definitely do it again.

[00:02:59] They weren't just [00:03:00] transactional. They really felt like theywere a part of a team. There's a legal perspective on almost everything you'redoing at a startup, so they're involved in everything from fundraising.

[00:03:08] I. To equity comp,to hiring, to commercial contracts, really everything. And Gundersen is reallybuilt for the early stage. They work with more startups and VC firms thananyone else, over 3,500 companies, 500 funds, and they've been ranked the topVC law firm for over a decade. So if you'reraising so if you're raising, scaling, or just try not to mess up your firstsafes as you go out to fundraise. Gunder Endeavor can help you navigate all ofit, so you can focus on what really matters, which is building a greatbusiness, growing that great business, and following your dreams. So if you'dlike to learn more, check out gunder.com.

[00:03:27] All right, back to the show. I.

[00:03:27] So if you'reraising, scaling, or just try not to mess up that first safe when you go out.Fundraising, Gundersen Detmer can help you navigate it all so you can focus onwhat really matters, which is building a great business, growing that greatbusiness.

[00:03:39] So if you'd like tolearn more about Gunderson Detmer, check out gunder.com.

[00:03:44] Jason Yeh: This is a story to describe. Oranswer the question that people often ask me, what can I do? What should I do?How should I build a great network? And I think it starts with two prettysimple directives.

[00:03:58] The first is [00:04:00] to help when you can, to be helpful topeople when you can. Now, it can be a little bit more Machiavellian calculated,like, oh, is this person a valuable person? Are they talented? Do you thinkthey'll have connections or whatever? And sure, that could be a layer. Thathelps you filter what you do.

[00:04:17] But in general, Ilike the directive to help when it's easy for you. Especially help when it'seasy for you. When it's easy for you and it doesn't cost you anything to beable to help. Very small amounts of effort. Things that you know you canaccomplish easily help. It's a good feeling. It feels good to help people, andyou never know when that stuff is going to pay off in the future.

[00:04:41] You never know whenthat is. The initial. Point of a relationship with someone that might be ableto help you in the future. So in general, help when you can help.

[00:04:50] The second one Ithink kind of leads to that, but just be a good person. What I wanna illustratewith this story about business school and whatever, is that [00:05:00] also memories around this, this kind ofstuff are very long.

[00:05:04] Very long. Theimpact that you have of just being a good person can last with someone for areally long time. And by the way, extend beyond where you might think that helpmight come. This is, uh, a story about a friend helping in a social situation,being nice, et cetera, but you don't know when someone is going to go on and beworking in industry, influence budgets, be connected to people that you want tobe connected to.

[00:05:32] And just because youthink that your connection with them doesn't extend necessarily to the businessworld, it absolutely paints, uh, or colors their perception of you. And thereis still a little bit of reciprocity that they wanna be the person to help youback. They wanna be able to, to help you because you help them be good to youbecause you were good to them in the past.

[00:05:54] So in terms of whereyou start, start immediately, how do you start any [00:06:00]way that you can help? And I guarantee this is something that's going to payoff not only in the future down the road when you least expect it, but in shortorder because it'll make you feel good. Alright? So hopefully that helps answersome question or fill in gaps or just drive you to start helping more people inthe pursuit of building a better network, creating a better reputation foryourself, and at some point make it easier for you to raise capital.

[00:06:26] Alright, thanks.That's this episode of the Back Channel and I'll see you next time.

[00:06:30] ​

‍