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Mastering Relationship Capital: John Hope Bryant on How to Build Powerful Institutional Connections · Earn Your Leisure

• 0:00
  Speaker 1: About how to build these institutional relationships if they don't
• 0:03
  Speaker 1: have them. The first thing you gotta do is get
• 0:05
  Speaker 1: your credit screw up to seven hundred, otherwise you can't
• 0:07
  Speaker 1: even It's like somebody going to lunch with you and
• 0:09
  Speaker 1: saying they want to do a five million dollar deal,
• 0:11
  Speaker 1: but they can't pay for the fifty dollars lunch. I
• 0:14
  Speaker 1: can't tell you many times I've had people broke. People
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  Speaker 1: come to me talking about they have a five million
• 0:18
  Speaker 1: dollars or five billion dollar line of credit from excuse me,
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  Speaker 1: China or Russia or someplace that you get from China.
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  Speaker 2: I'm like, come on, knock that up that I said.
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  Speaker 1: If you had a five billion dollars or five one
• 0:29
  Speaker 1: hundred million dollar a line of credit, do you really
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  Speaker 1: think that you'd.
• 0:31
  Speaker 2: Be talking to me at lunch. Don't you think that JV.
• 0:33
  Speaker 2: Morgan Chase would have that.
• 0:34
  Speaker 1: Don't you think that Wells Froger would have that, KKR
• 0:36
  Speaker 1: would have that, some investment baker would get that deal.
• 0:39
  Speaker 1: Why are you so special? Because it's a scam, right,
• 0:42
  Speaker 1: so and it and it unravels. So first of all,
• 0:45
  Speaker 1: get your credit screw up so you so you actually
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  Speaker 1: can walk the talk If you can't do a fifty
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  Speaker 1: thousand dollars deal, don't be trying to talk talking about
• 0:53
  Speaker 1: a five million dollar deal. Knock it off. So get
• 0:55
  Speaker 1: your credit score up to seven hundred. They aver a
• 0:57
  Speaker 1: credit score for black folks is six twenty across the country.
• 1:00
  Speaker 1: I've done that through our Hope of Financial Wellness Index.
• 1:03
  Speaker 1: You put your zip code in, I'll tell your credit
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  Speaker 1: score wherever you live. Get your credit score up, get
• 1:06
  Speaker 1: your vibration up to the don't go to the local
• 1:09
  Speaker 1: bank branch. Find the regional credit officer for the bank.
• 1:14
  Speaker 1: Don't go to a money center bank. Go to a
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  Speaker 1: regional bank or community bank that has a billion two
• 1:21
  Speaker 1: billion in assets, five billing in assets. But you can
• 1:24
  Speaker 1: still get to the chief credit officer. You still get
• 1:26
  Speaker 1: to the chief lending officer. If you can't get a no,
• 1:28
  Speaker 1: why would you want to get a knowe from the
• 1:30
  Speaker 1: branch manager. No disrespect intended to from the branch manager.
• 1:33
  Speaker 1: If I'm gonna get a note, I want to know
• 1:34
  Speaker 1: from a boss. So I'm gonna go find. We're great
• 1:40
  Speaker 1: at storytelling. Go find who are the chief lending officer.
• 1:44
  Speaker 1: Chief credit officer is these people who make credit decisions
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  Speaker 1: at a mid size bank.
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  Speaker 2: Mid size is something with the B on top of it.
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  Speaker 2: Billion in assets.
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  Speaker 1: It's not very big for a bank, but you can
• 1:54
  Speaker 1: still access these people sit their emails on their website.
• 1:58
  Speaker 1: In most cases, send them an email. Don't be crazy,
• 2:02
  Speaker 1: send an email. Hey, I'd like to buy a business
• 2:05
  Speaker 1: in town. I've read your resume, your background. You seem
• 2:08
  Speaker 1: like a very interesting person. I love to meet you.
• 2:10
  Speaker 1: Here's a little bit about me. We're a great storytelling.
• 2:12
  Speaker 1: Most people will give you fifteen minutes. So either do
• 2:15
  Speaker 1: it virtually, do it in person. Build a report. Don't
• 2:17
  Speaker 1: go in there and ask for a transaction. Don't go
• 2:18
  Speaker 1: in there bragging about yourself. Don't go in there with it.
• 2:20
  Speaker 1: Don't go there with your hand. Go there and find
• 2:22
  Speaker 1: something personal about that person. Look at the photos behind
• 2:26
  Speaker 1: their desk, Ask them by their wife, their husband about them.
• 2:29
  Speaker 1: No one asks them about them. Build a personal rapport,
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  Speaker 1: a warmth. And but before the end of that meeting,
• 2:36
  Speaker 1: that person will say, by the way, thank you, this
• 2:38
  Speaker 1: has been a great meeting.
• 2:39
  Speaker 2: What were you here for? What do you need? What
• 2:42
  Speaker 2: do you need? Now?
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  Speaker 1: The door is open and you say, well, actually, thanks
• 2:47
  Speaker 1: for asking. I really enjoyed meeting. You.
• 2:50
  Speaker 2: By the way, you gotta be authentic about this. Can't
• 2:51
  Speaker 2: be a game. I really enjoy meeting you. Yes.
• 2:54
  Speaker 1: In addition to that, I'm trying to buy the Dentnis
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  Speaker 1: office or whatever. Okay, well let's get you with somebody.
• 3:00
  Speaker 1: Now that's changed everything because this person's job is to
• 3:04
  Speaker 1: say yes. The person in the branch manager, I'm not
• 3:07
  Speaker 1: picking the person in middle underwriting, middle management at a
• 3:12
  Speaker 1: corporation or a bank or lender. Their job is to
• 3:15
  Speaker 1: say no. Why they don't get fired for saying no,
• 3:20
  Speaker 1: they get fired or saying yes or the wrong thing
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  Speaker 1: to the awers. No, you need to go to somebody
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  Speaker 1: whose business it is to say yes. That's a C
• 3:26
  Speaker 1: suite executive. I'm just doing this quick because we don't
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  Speaker 1: have a lot of time. So you go to because
• 3:33
  Speaker 1: again I want to get a No. One get to
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  Speaker 1: know from the top. So relationship capital is everything. Why
• 3:38
  Speaker 1: does somebody go to Harvard because Harve's gonna make you
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  Speaker 1: three times more smart as the state university. No, it's
• 3:45
  Speaker 1: because the class of twenty twenty five at Harvard's going to.
• 3:48
  Speaker 2: Hook each other up for the next fifty years. That's
• 3:50
  Speaker 2: why you go to Harvard.
• 3:52
  Speaker 1: Country clubs, fraternity sororities, universities.
• 3:59
  Speaker 2: It's a club.
• 4:00
  Speaker 1: Uh uh, I can't you know, I can't mention where
• 4:03
  Speaker 1: I was last week. But that's a club. You guys
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  Speaker 1: right know what we're talking about.
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  Speaker 2: An Idaho milking conference. It's a club.
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  Speaker 3: Uh uh.
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  Speaker 2: Clinton, go on a initiative. It's a club. You want
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  Speaker 2: to be part of that club if you want to.
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  Speaker 1: You want to relationship capital because they're gonna hook up
• 4:24
  Speaker 1: their friends. If you see a white if you see
• 4:27
  Speaker 1: a board of directors with all whites the five year
• 4:29
  Speaker 1: old men, don't don't assume that's that's racism.
• 4:32
  Speaker 2: It might be discrimination.
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  Speaker 1: Discrimination is I'm discriminating against you to do something else?
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  Speaker 1: But if I grew up with these guys and went
• 4:41
  Speaker 1: to college with them, we chased girls together, and we
• 4:43
  Speaker 1: lied together whatever in school. And I need to hire
• 4:47
  Speaker 1: somebody who's a treasurer. I'm I'm the chief of Angel lawicer.
• 4:50
  Speaker 1: I need a treasurer. And I got three applications on
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  Speaker 1: my desk. One's black, eminently experienced, ones a white womanly qualified,
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  Speaker 1: and then the third ones a white dude I want
• 5:00
  Speaker 1: to college with, who chased women and he and he
• 5:02
  Speaker 1: and he didn't tell me when I when I cheated
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  Speaker 1: on a test, which one gets hired. This is the
• 5:08
  Speaker 1: white male now in this exactly the third that's discrimination.
• 5:14
  Speaker 1: It's not racism, by the way, that's the way the
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  Speaker 1: world works. You have a barbecue, you invite black people
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  Speaker 1: do your barbecue?
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  Speaker 2: Are you? Are you racist?
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  Speaker 1: No?
• 5:23
  Speaker 2: Are you discriminating a little bit? That means your friends.
• 5:26
  Speaker 1: So you're you're doing what's comfortable with you. We got
• 5:29
  Speaker 1: to break up the comfort and insert us. That's why
• 5:33
  Speaker 1: I loved you guys going to China and Africa. I've
• 5:35
  Speaker 1: been to one hundred countries. You don't go, you can't know.
• 5:38
  Speaker 1: So this AI thing and this capital markets thing and
• 5:43
  Speaker 1: the financial literacy thing, which I believe is the civil
• 5:45
  Speaker 1: rights issue of this generation.
• 5:47
  Speaker 2: Financial literacy and AI literacy is everything.
• 5:51
  Speaker 1: These pieces plus relationship capital can transform black Americas in
• 5:57
  Speaker 1: five years.
• 5:58
  Speaker 2: This is the third reconstruction br right now in my opinion.
• 6:03
  Speaker 3: So okay, So with that being said, okay, mommy, I
• 6:08
  Speaker 3: should just because I never really asked you about real estate.
• 6:12
  Speaker 2: You you like.
• 6:13
  Speaker 3: You said, do you still own those properties? So you
• 6:16
  Speaker 3: said that you you've offloaded them.
• 6:18
  Speaker 1: So I was a one hundred percent owner of the problem.
• 6:22
  Speaker 1: I built it from zero to one hundred and fifty
• 6:24
  Speaker 1: million dollars. I was one hundred percent owner. I paid
• 6:28
  Speaker 1: off eighty eight million dollars of debt and equity Christmas Eve,
• 6:32
  Speaker 1: twenty twenty one.
• 6:34
  Speaker 2: I owned thirty eight percent of the new joint venture.
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  Speaker 1: I was the largest shareholder after I sold, so I
• 6:39
  Speaker 1: sold it for less than it was worth. It was
• 6:41
  Speaker 1: worth one hundred and fifty sold it for her to
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  Speaker 1: twenty one. I was a thirty eight percent owner of
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  Speaker 1: the new joint venture. But I didn't I realized very
• 6:48
  Speaker 1: quickly because I'm a control free I didn't have control
• 6:53
  Speaker 1: of the new entity. And so I was chairman or whatever.
• 6:56
  Speaker 1: I resigned as chairman, and you know, graciously, and I'm
• 6:59
  Speaker 1: just I decided to let them do their thing, because
• 7:02
  Speaker 1: that's just not the way. The Camel's a horse designed
• 7:04
  Speaker 1: by committee, and I don't do committees very well. And
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  Speaker 1: I have a very distinct view of how I want
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  Speaker 1: to do something. So God bless them and wish them well,
• 7:12
  Speaker 1: and I have an interest in their success, right if
• 7:14
  Speaker 1: they succeed, But I no longer control the enterprise.