Latest / Networking Unleashed: Building Profitable Connections / Networking Unleashed: S1E97 An Interview with Ramsha Khan and Michael A Forman, Public Speaker

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Networking Unleashed: S1E97 An Interview with Ramsha Khan and Michael A Forman, Public Speaker · Networking Unleashed: Building Profitable Connections

0:16
Welcome to Networking Unleashed, Building Profitable
0:20
Connections, the podcast where we turn relationships
0:23
into real results. I'm your host, Michael Foreman,
0:27
and today we're talking about one of the most
0:29
overlooked aspects of networking, how your relationship
0:34
with money shapes the relationships you build
0:37
with people. My guest is an expert in financial
0:40
planning and the psychology of money. She helps
0:44
people not only create smart financial strategies,
0:47
but also rewire the beliefs that hold them back
0:51
from abundance. Together, we'll explore how mindset
0:55
impacts the way you show up in your network,
0:58
why financial confidence makes you a more magnetic
1:03
connector, and how you invest in your relationships
1:06
with the same clarity as you invest in your wealth.
1:11
If you've ever wondered how money and mindset
1:14
influence your networking success, this conversation
1:19
is going to open your eyes and maybe your opportunities.
1:24
I'd like to welcome to the podcast, Ramsha. We've
1:28
been friends for a while now. We've been going
1:32
to the same networking events, and I'm so thankful
1:35
to have you here to give us some of your wisdom.
1:38
But Ramsha, why don't you give us a little about
1:41
your background and welcome to the podcast. Sure.
1:44
Thank you so much for having me on here, Michael.
1:46
We have known each other for quite some time
1:48
and you've given such a great impression to me
1:50
and everybody else that we've connected with.
1:51
So it's an honor to be on here. But a little
1:54
bit about myself. My name is Ramsha Khan. I stay
1:56
in Atlanta, Georgia, work as a wealth advisor,
1:59
run my own practice with a firm called North
2:00
Star Resource Group. And alongside, I also produce
2:03
music and DJ as a fun little hobby of mine. So
2:05
I like to keep myself sane with my music and
2:08
I like to keep myself insane with my career.
2:11
Absolutely. Absolutely. It actually sounds like
2:14
a good mix, but okay. So let's delve into the
2:17
questions that I've got prepared for you. The
2:20
first one, how does financial planning influence
2:23
the quality and strength of someone's professional
2:27
network? That's a great question. Financial planning
2:32
is a strategy. It's very intentional. And I think
2:35
that goes into networking as well. When we're
2:37
networking with people, we have to go in with
2:38
a goal of being intentional about who we want
2:41
to meet, why we want to meet them and what we
2:42
want to do moving forward with them. And that's
2:44
the same thing when it comes to financial planning.
2:46
It's where are we, where do we want to go and
2:48
how do we get there? And so I would put those
2:50
two things together because. In order for us
2:53
to have a good financial planning strategy, we
2:56
need to be forward thinkers. And I think that
2:58
goes to networking as well. For example, when
3:00
we go to any type of networking event, whether
3:02
that's a local link or the chambers, our goal
3:06
is to connect with like -minded people that we
3:09
like, trust, and want to do business with. And
3:13
in my opinion, that's also what financial planning
3:15
means. That's so true. That's so true. You've
3:19
really come across... You have to be focused
3:22
on what you want to accomplish. Networking is
3:26
exactly the same way as the financial planning.
3:29
You have to have that end goal in sight. So you
3:32
have something to shoot for and something when
3:35
you're aiming for that, you can actually break
3:37
it apart and work your way to the goal. Exactly.
3:41
And one more thing I'd like to add on to that
3:42
is it's a fluid, like financial planning for
3:45
me is a very fluid document, a fluid item and
3:47
a fluid plan, meaning at any point it can change
3:50
because life changes for us at all times, right?
3:51
We can have kids one day and all of a sudden
3:53
now we've got to change our plan or we're moving
3:55
out of the state. We've got to change our plan.
3:56
We want to buy a house. We have to change our
3:58
plan. And that goes to networking as well, because
4:00
sometimes we're not looking to meet the same
4:02
type of people every time. Sometimes we're looking
4:04
for people that we can connect with in one aspect
4:07
of our business, or maybe we can connect within
4:08
a personal aspect. or someone that we can even
4:11
refer to. It doesn't even have to be somebody
4:12
for us. It's somebody that we're referring to
4:14
somebody else. So as much as the financial plan
4:18
changes, so does our strategy for networking
4:20
and growing personal relationships. That's so
4:23
true. You're actually what I call a professional
4:26
connector. and you're putting people together
4:30
and they have a need. And listen, if you get
4:34
something out of it, that's one thing, but that's
4:37
really not your main goal when you connect two
4:38
people together. You put two people together,
4:41
you say, okay, look, you have a need, you have
4:43
a want, a desire, you go together and you walk
4:46
away. And you wind up getting more business that
4:49
way than trying to push what you're selling.
4:53
Yeah, I agree 100%. In your experience, Do people
4:58
with healthy money mindset with a healthy money
5:02
mindset approach networking differently from
5:05
those with a scarcity mindset? That's a great
5:10
question. I would say yes. And the definition
5:13
of money rich, or could you repeat what that
5:16
was? Money. Money mindset, a healthy money mindset.
5:20
Healthy people with healthy money mindset develop
5:23
habits from early on. They're very disciplined
5:25
and focused on. achieving a win -win situation
5:29
because success doesn't come until both parties
5:32
are happy with where they are versus a scarcity
5:34
mindset. That is the type of people that when
5:37
we meet, they're just trying to sell you something.
5:39
You can smell it. You can feel it. You could
5:41
hear it. And there's no win -win situation at
5:43
the end. You just see someone pitching their
5:44
product or services to you rather than someone
5:47
looking to collaborate and build a relationship
5:49
or a partnership. So those who have healthy money
5:51
mindset understand that money is created when
5:55
two parties agree on it together. and both come
5:58
out with successful outcomes. Now, you really
6:02
consider yourself a fiduciary, right? I'm legally
6:08
obligated to work in the best interests of my
6:12
clients. Yes. There you go. So you have to, by
6:16
law. You have to try to get to the best of for
6:20
your client. Exactly. Again, sorry to interrupt,
6:24
Michael, but it always blows my mind when people
6:26
say by law, you have to do the best thing for
6:28
people, because I feel like that should be a
6:30
standard that we shouldn't have to have a lot
6:32
to be doing right by others, especially when
6:34
it comes to their money and taking care of their
6:37
financial future, essentially. So for me, it's
6:39
not my fiduciary is an honor title more than
6:42
it is a job title for myself. Yeah. You know,
6:45
as well as I do, there are plenty of people out
6:47
there waiting to take somebody's money and not
6:52
do anything for it. So there's more people like
6:54
that than yourself. So you have to work twice
6:57
as hard to have that trust value, that trust
7:01
factor. So you know you like you trust you will
7:05
do business with you. And that trust factor becomes
7:08
so important, especially somebody in your field.
7:12
Yeah. What is the biggest financial mistake professionals
7:18
make when investing in their networking efforts?
7:23
Oh, that's a good one. One of the worst financial
7:26
mistakes that they make when it comes to investing
7:28
in their network? Sure. is not taking the opportunity
7:32
to build a face -to -face connection. For example,
7:34
some people would rather save $2 than to go out
7:37
and have coffee for $2. I think the digital world
7:39
has changed business completely. Now we have
7:41
the opportunity to sit like this and we don't
7:43
need to go anywhere. We have the comfort of our
7:44
room. Our water bottle, we don't really need
7:47
to pay for anything. However, there is a big
7:50
disconnect, in my own opinion, when we're sitting
7:51
like this versus when we're meeting face to face.
7:54
The energy is very different. The relationship
7:56
that's being built and developed is very different.
7:58
For example, if we met like this, it would be
8:00
very different versus when we went to our bagel
8:01
shop and sat outside in the heat and talked about
8:04
all of our ventures. That leaves a lasting impression
8:07
for both parties as well as a great memory to
8:10
look back on versus so many times I've sat on
8:12
Zoom with people that I can't, if I'm being honest,
8:15
it doesn't leave a lasting impression on me.
8:17
It's a scheduled 30 minute call versus an open
8:19
schedule when you're meeting somebody. And the
8:22
money investing into a networking really just
8:24
goes into take that time, drive over to meet
8:27
somebody. Sure. You're going to pay a little
8:28
bit of gas money. Sure. You're going to get a
8:30
little coffee. You don't even need to get coffee,
8:32
but it's the effort that matters. And if both
8:34
parties are putting in the effort, it shows the,
8:37
the want to grow and develop a relationship and
8:40
you get to see who's really worth. putting your
8:42
time into, if they're putting their time back
8:44
into you as well. Absolutely. And I really found
8:48
it was like a line in the sand, the pandemic.
8:52
Before the pandemic, people were more, they're
8:55
treating these types of calls as transactional.
8:59
I have three widgets. You have a $2. Okay. You're
9:02
going to buy my widgets and that's going to be
9:05
it. After the pandemic, it's really become more
9:09
relationship. based. And when you go and meet,
9:13
so even if you're talking over zoom, you have
9:16
to realize that's a person behind the camera
9:20
and you have to treat them accordingly. So you
9:24
don't feel, you don't feel a vibe of the person.
9:26
You don't feel a vibe of the room, but you can,
9:29
as long as you can put yourself with that other
9:32
person, then I feel that you can create a relationship,
9:36
not just a customer. Yeah. You're so right about
9:39
that. Yeah. Time is money. I know we all hear
9:42
it. We all see it. Time is money. And if we're
9:43
going to invest anything to anybody, it should
9:45
be our time showing them what's valuable. And
9:48
yeah, I'll leave it at that. Okay. Okay. Sure.
9:51
How can someone budget their time? Speaking of
9:55
time, how can someone budget their time and resources
9:58
for networking the same way that they would for
10:01
a financial plan? book it on your calendar, schedule
10:06
it. When you have something in front of you and
10:08
that you're doing the next day, it's much easier
10:11
to follow a plan that's already created than
10:13
it is to create a plan out of thin air the day
10:15
of. And so that goes to financial planning because
10:17
so many people are like, oh, I can invest today
10:19
and I'll invest a little bit tomorrow. And when
10:21
I have this money, I'll put it away. But that's
10:23
not. a plan put into stone it's it's all up in
10:26
the air when things are all up in the air they
10:28
just float around and so when we have a structured
10:30
plan it really helps us stay focused and intentional
10:35
about the activities that we're doing that goes
10:38
to networking for example i have all of my networking
10:40
events scheduled on my calendars and blocked
10:42
off Every single week when I know it's happening.
10:45
So that way I know where my priority is during
10:48
that time and that my focus is not going to go
10:50
to anything else. I'm going to prioritize going
10:53
to these sessions or meeting these people, not
10:55
focusing on my own business. And then I block
10:57
out time for my own business as well. This is
11:00
very true. It's important to do that time blocking.
11:04
It's actually a thing, time blocking. But I use...
11:08
My phone, my computer calendar, and I have a
11:11
desktop calendar also just to make sure that
11:14
I don't miss anything. But I block out a set
11:19
time during the day for my business. I block
11:23
out and then networking at night and everything
11:26
else. But if I don't block it out, then somebody
11:29
else may get that time and I'll have to either
11:33
excuse myself or whatever the case may be. It
11:36
saves you heartache. So if you can block out
11:41
the time, just as Ramsha says, that you can block
11:46
it out, that will help you tenfold when you're
11:49
trying to do things down the road. Can I ask
11:53
you a question, Michael? Sure. There's been so
11:55
many times people struggle finding where their
11:58
priorities lie. Sometimes their calendar is their...
12:02
their bible they live by it they rule by it but
12:05
some people allow others to dictate their calendar
12:08
and I think that when we start our business it's
12:10
difficult at first prioritizing and do we want
12:13
to focus on other people for example you said
12:16
that there was a time available somebody will
12:17
take it but you have something that you have
12:19
to do where what do you decide you're going to
12:21
go with that person that decided to book it or
12:23
are you going to focus on your own priority so
12:24
how did you start making those decisions clearer
12:28
and more certain stern for yourself What I did
12:31
was I blocked out the time from now till December.
12:36
So the set networking opportunities that I have
12:40
that are every week, I automatically block that
12:43
out so nobody can touch that time. And I fill
12:47
in the time when I'm behind my desk, when other
12:51
people are filling in, so to speak, that time.
12:55
But when you have, when you get up. When you
12:59
get a little bit more, when you get a little
13:01
more opportunity, you can have an assistant and
13:05
that assistant will now have control of your
13:08
calendar. So that's where you're going to say
13:10
to your assistant, you have to make sure that
13:13
you don't allow somebody else to occupy this
13:17
time. So I work very hard at not letting anybody
13:23
sneak an appointment in while. I'm going and
13:29
I'm planning on doing something else. So I have
13:31
plenty of times when off my website or somewhere
13:34
else, I have my calendar link and people can
13:37
make an appointment for a consultation for anything
13:40
like that. So as long as they use the calendar
13:44
invite, it's blocked off because that works directly
13:48
with my calendar on my computer. So it takes
13:52
time. It takes a straight mindset. And if you
13:57
follow it accordingly, then you'll be successful.
14:01
If you're willy nilly and you're just using a
14:04
paper calendar and somebody else is going to
14:07
make an appointment, you're going to get all
14:08
messed up. You have to be structured and organized.
14:13
And that's a very difficult thing to do. Yeah.
14:16
Thanks for sharing that. Okay. So. Have you seen
14:20
networking play a direct role in helping people
14:24
achieve major financial goals? Yeah, you never
14:31
know who you're going to meet when you're networking.
14:33
You never know who needs you and who also you
14:36
need back. I think that because of the digital
14:39
world, it's so easy to go out and build lists
14:42
and go to LinkedIn and connect with a thousand
14:44
people. But you never know someone's true needs
14:47
until you have a conversation with them. And
14:49
so networking allows that conversation to build.
14:52
The first 30 seconds or one minute of you talking
14:55
about your services and listening to the other
14:56
person's services, you get a chance to see. Is
15:00
there something that I can help this person with?
15:02
And is there something that person can help me
15:04
with? And so when it comes to networking, for
15:06
example, I've had people where I've shared a
15:08
presentation and I've talked about, let's just
15:10
say like a 401k, how to make sure your 401k is
15:13
invested properly or what options you have if
15:15
you're leaving a firm with your 401k. And people
15:17
don't realize that until they know what they
15:20
don't know, they don't know what to act on. Don't
15:24
know what you don't know. You don't know what
15:26
you don't know. I say this to the high school
15:29
students and college students that I coach because
15:32
they're not sure about a networking event or
15:35
where they can help. I said, you're networking
15:37
every day of your life in your circle of friends,
15:41
in a department store, in a grocery store. You're
15:44
doing everything. When you're online and you
15:47
hear a conversation behind you, you just don't
15:50
put your earmuffs on and look forward to the
15:53
conversation. If you can add any type of smart
15:59
or anything to their conversation, then add it.
16:04
Turn around and say, oh, hi, excuse me, but you
16:06
were talking about this. I heard you and I do
16:09
this. And then you turn back around. You don't
16:12
have to sit there and wait for a conversation.
16:14
If what you said was interesting enough, tap
16:18
you on the shoulder and say, could you explain
16:21
that a little bit further? And then you're happy.
16:24
Exactly. So many times, Michael, tell me if you've
16:26
seen this too, people wait to be asked, what
16:29
can you do for me? And that's sitting there waiting
16:32
for those types of opportunities is in my opinion,
16:35
I've never really seen a lot of success come
16:37
from that. No, it's true. And I just, I just
16:40
had a very good friend of mine on the podcast
16:43
and he's a realtor down in Florida. And he always
16:47
like when he walked into a, it just told me a
16:50
story when he walked into a store. A person thought
16:53
he worked there and said, can you tell me where
16:56
this is? He said, yeah, come on, I'll show you.
16:59
And by the way, do you own a house or do you
17:03
rent? Are you thinking about buying? How about
17:06
in six months? Here, take my card. And that's
17:08
how it started. But he initiated. the conversation
17:13
and the guy probably never even thought about
17:15
it, but yeah. And he is, that's why he does very
17:19
well where he is, but you have to take the bull
17:22
by the horns. If you wait for everything to come
17:25
to you, you're going to wait a very long time.
17:28
Yeah. I believe in the law of attraction, but
17:30
you got to put out what you want back. We can't
17:32
just sit there. That's true. It's true. Okay.
17:36
How can a person's beliefs about money either
17:40
help or hinder the relationships they build?
17:44
Ooh, wonderful question. I've said this before
17:47
with other people, and I'm a true believer in
17:49
this. Research shows that when we grow up in
17:52
two different patterns, either we... hoard all
17:55
our money because we don't know when the next
17:57
next dollar is going to come from or we spend
18:00
all our money because we don't know when the
18:02
next dollar is going to come from and so those
18:04
two mindsets come from seeing our family situation
18:06
nature nurture the environment that we're really
18:08
raised and born in and how that money mindset
18:10
was developed there and it seeps into our subconscious
18:13
as we grow up and so when we grow up that can
18:18
hinder relationship building because of the same
18:21
one of the questions you asked earlier about
18:23
healthy mindsets versus non -healthy mindsets
18:25
now all of a sudden you're thinking one track
18:27
mind and me rather than we we a little bit of
18:32
french there for you but but that i'm a big believer
18:36
in that because if we don't If we have that mindset
18:39
of spending every money, we're going to give
18:40
out everything and never receive anything back
18:43
nor expect anything back, which is a positive
18:45
or a negative thing. But we're not working for
18:47
charity. We're working, right? We're building
18:49
a business, not doing charity work. Or the other
18:51
is we take from everybody and we don't give back.
18:54
And where is any relationships going to grow
18:56
from there? That's true. But also I factor age
19:00
into it because the older that people get, the
19:04
mind shift, mind changes. let's say a single
19:08
person, then all of a sudden they get married.
19:11
So they don't think about just themselves anymore.
19:15
They're thinking about their spouse. So now all
19:18
of a sudden it goes from a me to a we, we, we,
19:22
and then all of a sudden they have children.
19:25
And then all of a sudden, let's say in my case,
19:30
I thought solely about my wife and children.
19:33
I didn't think about myself. So things change
19:36
100 % by how old you got and your age. And all
19:40
of a sudden you realize, you know what, I'm getting
19:42
older. Do I have my finances in order? And that's
19:46
where you reach out to a financial planner or
19:49
somebody else. Or if you're friendly with somebody,
19:51
you talk to them about it. But it changes with
19:54
age. And that's something you should really think
19:57
about. Because it's different if you're talking
20:00
to a single person in their 20s as opposed to
20:03
a married person in their 30s. Now, I agree.
20:06
I completely agree with you. And that's why I'm
20:09
a big advocate on. Plan early for your future.
20:12
If you plan on getting married, if you plan on
20:14
having kids, at least have some type of draft
20:15
put together so that you're not thinking fresh
20:18
then. Sometimes it's a little too late to start
20:20
planning. Your kids are 15 years old and you
20:22
want to start for college education. Okay, maybe
20:24
we're a little, we can still do it, but maybe
20:26
we're not going to get the same results as if
20:28
we had started when they were three or four years
20:29
old. So it's always, I agree, it's always once
20:32
you get to that point, you have more responsibility.
20:34
And then you start really thinking about financial
20:37
security much more importantly at that time.
20:40
Absolutely. Absolutely. Okay. What advice do
20:44
you have for people who feel it's too early in
20:49
their financial journey to network with high
20:51
level professionals? Oh, I think people get scared
20:55
with high network professionals because of either
20:58
titles, PhDs, or how much income that they make.
21:01
But we have to remember everybody's human. Right.
21:03
Outside of our titles and statuses, we are all
21:06
skin and bones and a soul and a heart that are
21:08
all trying to make it in this world. And so there
21:11
should be no reason to be scared because eventually
21:13
you want to put yourself in an environment and
21:16
surround yourself with people that you desire
21:18
to. become or build a lifestyle of and if you
21:21
want to be a wealthy successful person you surround
21:23
yourself with wealthy successful people not be
21:25
intimidated by them there's a saying where you're
21:28
the average of the five people you surround yourself
21:29
with so I make it a habit to put myself in places
21:32
and rooms that where I'm surrounded with people
21:35
who are much more successful than me. And it
21:37
doesn't necessarily mean high net worth. Sometimes
21:39
it's high wisdom too. Some people have a lot
21:42
of an experience that they can share and we can
21:44
learn from. So regardless of whether you build
21:47
a business with them or if there's a relationship
21:48
that develops through that, at the end, it's
21:51
a great learning experience, a great lesson and
21:53
a great place to be to open your mind and grow
21:55
your mindset as well. What do you say to the
21:58
person that they say, it's too early for me to...
22:02
think about my financial future. It's never too
22:05
early. It's never too early. It's never too early.
22:08
When did you start thinking about your financial
22:10
future, Michael? When you were younger, what
22:13
was your take on it? What was your mindset on
22:14
money? I didn't start thinking about it until
22:17
my late 30s. Which is good. Better than never,
22:21
right? Absolutely. And then you had to figure
22:24
out, because I was married with children, I had
22:27
to figure out, okay, do I have that extra couple
22:31
of dollars that I can invest and things like
22:35
that. And I made it a habit that regardless of,
22:37
I made it like a bill, right? I have to pay all
22:41
these bills at the end of the month. That was
22:43
part of it. So that money had to go away. And
22:47
then whatever I was left with was the expense
22:49
that I can throw around and worry about. But
22:52
I learned that, let's say late thirties, that
22:56
I had to really figure it out. And I'm glad I
22:59
did today. Good. And you're doing super successful,
23:02
so I'm happy to hear that too. Are there parallels
23:07
between diversifying investments and diversifying
23:12
a professional network? 100%. Some people are
23:20
structured and have a niche. And I think having
23:21
a niche for your business is important. But at
23:24
the same time, you don't want to limit yourself
23:25
to your opportunities. When business comes knocking
23:29
at your door, you don't say bye and slam it in
23:31
its face. You take what you get. And also, if
23:34
somebody's coming to you, especially in my industry,
23:35
if someone's coming to me. asking for financial
23:38
help, it is a lack of my fiduciary responsibility
23:40
for me to turn them away. In my heart, I'm not
23:43
going to say, you know what, you're not making
23:44
X amount of money or you're not a high net worth
23:46
client. I don't really want to work with you.
23:48
And so I keep my doors open to anybody and everybody.
23:51
However, I also want to focus on mastering the
23:54
insights of a specific industry. So that way
23:57
I can be more knowledgeable in that field. For
24:00
example, with business owners, business owner
24:01
solutions, or for example, practice owners, right?
24:04
How do dentists pay off? Dentists, doctors, they
24:07
have high student loans. How do we plan a structure
24:10
for that? So becoming an expert in whatever field
24:12
you want to work with, but not limiting yourself
24:14
is a great way to grow. That's the parallels
24:17
for diversifying your investments as well as
24:19
your network. A little advice from my end, from
24:23
the networking end of things, focus on what you
24:26
want to do. So if you want to focus in on not
24:31
only business owners, because that's too broad.
24:34
If you want to focus in on business owner, medical
24:37
practice, that's okay. But are you going to focus
24:42
in on business owner, medical practice, dentists?
24:47
Okay, now you're laser focusing and you have
24:50
to go or physical therapists and you have to
24:53
go in and really see what's going on in their
24:56
world because there's a lot of costs in with.
25:00
being a doctor, but one of the biggest costs
25:03
is malpractice insurance. Yeah. So you have to
25:07
figure all this stuff out and say, okay, you
25:10
know what? And then you have the person going
25:11
to the health insurance and people like that.
25:14
And I've worked with people, I've had clients
25:18
that are in those fields. That's why I know what
25:21
it is, what it takes. So you have to be very
25:24
careful. And another thing I want to add is you
25:28
never know. where your next opportunity is going
25:31
to lie. It's you have to change your mindset
25:35
to be aware of other opportunities, right? Because
25:40
if your mind is closed off to that, then you
25:42
won't see it. If you and I walk into a room and
25:46
I can come up with whatever I wanted to say,
25:49
but you say, oh, this is great. I walked out
25:51
with three clients. And I said, I didn't walk
25:54
out with any because your mind was open to opportunities
25:57
and my mind was closed. So that's okay. Okay.
26:01
So what role does trust, both financial and personal,
26:07
play in creating long -term profitable connections?
26:12
Oh man, there's no relationship without trust.
26:15
We talked about this in the beginning. Yeah,
26:18
and also I'm a big believer once trust is broken,
26:20
it's very hard to rebuild that relationship too.
26:22
So when you have a foundation that you're building
26:25
with somebody and that trust is that structure
26:28
that you're building that foundation on, you
26:30
want to be very careful with it. You want to
26:32
be very diligent about it. You got to take care
26:35
of that person in front of you. If you say you're
26:37
going to do something, you got to do it, you
26:39
know, that kind of stuff. If you can't, you got
26:41
to communicate. Trust and communication are big
26:44
when it comes to building lasting relationships
26:46
with people. without trust nope no one likes
26:49
you nobody wants to do business with you right
26:52
you build business with people you like what
26:54
was it like trust no no interest exactly no interest
26:58
right and i i really believe without trust there's
27:01
nothing that can be there's no relationship that
27:03
can be developed especially in a world where
27:05
today trust is so scarce fine scarce may not
27:09
be the right word but it's very hard to be trusted
27:12
it's very hard to trust people easily today everybody
27:16
This is a crazy world today, Michael. So trust
27:18
is hard to earn as well as give. It is. And when
27:22
you go to a networking event, you have, if you
27:26
go in with what's called a servant's heart, you
27:28
want to give and not receive. And if you go in
27:31
with that philosophy, then it takes all the pressure
27:35
off your shoulders. You're not there to try to
27:38
sell them anything or do anything for them. You're
27:40
there for the other person. One line that I've
27:45
always used and was very accepted was at, let's
27:50
say, a networking table or something else. And
27:52
let's say I'm with you and you tell me everything
27:55
that you do and everything else. I say, you know
27:58
something, Ram Shah, I like you. I like what
28:01
you do for a living. I like how you do it. How
28:03
can I make you more successful? How can I be
28:07
a good referral source for you? And if I've done
28:11
my job correctly, you should say, I don't even
28:15
know what you do yet. And that's perfect. So
28:18
if you go in there with that thought, with that
28:21
feeling, then you never, you never can go wrong.
28:24
And you released all that pressure. And for people
28:28
who are building referral based businesses, trust
28:31
is their highest priority because no one's going
28:34
to refer anybody to somebody that they don't
28:36
trust. Right. Because that's their line, their
28:39
credibility and their name and friend that they're
28:41
putting in front of this person that that's looking
28:44
for business. And trust goes beyond just building
28:46
a relationship. It goes to many aspects of networking
28:49
growth overall. Trust build what I call social
28:53
capital. Right. It's your social capital. So
28:57
when people have that much trust in you, then
29:00
you have a great amount of social capital. If
29:03
you do something wrong. or bad, or something
29:06
to make them not trust you, you really go into
29:09
that social capital. So unless you have an abundance
29:12
of the social capital, if you're just starting
29:15
out, and you do something where they're not going
29:18
to trust you, then you're below the line. And
29:22
all of a sudden, you're out, and you owe them.
29:24
And as you said, it's much more difficult. to
29:29
get them back after they lost your trust or you
29:33
lost their trust or something else. It's like
29:35
going back to finance. Just one last thing to
29:37
add on this. It's like the concept of deposits
29:40
and withdrawal. Each person is a bank account.
29:42
If we just deposit money, we're building up that
29:44
cash balance and cash value. However, if we keep
29:48
taking from them, if we keep withdrawing, eventually
29:49
at some point we're going to overdraw ourselves
29:51
and that we owe them something. And that's where
29:54
now we're lacking our... We're not building anything
29:57
because we've taken so much out from them. They're
29:58
overdrawn. We're going to get overdraft fees.
30:00
They don't want a relationship with us. The bank's
30:02
going to say bye bye. You know, that's the social
30:05
capital. Yeah, that is exactly it. The deposits
30:08
and withdrawals. It's all built around trust,
30:11
that trust factor. But you're building your social
30:14
capital. OK, so let's bring this podcast full
30:18
circle. If you could give one money mindset networking
30:23
tip that would pay the biggest dividends, what
30:27
would it be? To start to review and have a plan.
30:35
That's really it. Most people just don't have
30:37
a plan. They go in and look at, ask questions
30:40
about investing or what's this stock doing or
30:42
what's this Bitcoin doing? And I think that it
30:45
really depends on your overall picture. Write
30:46
down where you want to go. And then consult with
30:50
a financial professional on how you want to get
30:52
there. And that way, regardless of whether you're
30:54
going to follow that path, if you want to, you
30:56
have that right in front of you. You have the
30:58
steps that it takes to move forward to that path.
31:01
Okay, Ramshad, that was... Fantastic. You were
31:05
a great guest and you must be a great financial
31:09
planner because you gave me all the answers that
31:12
I ask questions. So I'm thinking that you are
31:16
very good at what you do. But if somebody wanted
31:20
to get hold of you just to ask you a question
31:23
or bounce something off of you or have a consult
31:26
with you, what's the best way for them to get
31:28
hold of you? So they can reach me on LinkedIn.
31:31
My LinkedIn is ramsha khan dash. If they can
31:34
reach me on my email, ramsha .khan at northstarfinancial
31:38
.com or they can shoot me a text message. Now
31:41
everybody's texting these days, 470 -870 -1941.
31:45
So if anybody wants to talk, I am happy to just
31:47
have a conversation. I think that even conversations
31:50
just give people mental peace and peace of mind.
31:52
So, you know, I'm always happy to be that financial
31:55
therapist as well. That's great. That's great.
31:58
Ramsha, I look forward to talking to you again.
32:01
Thank you, Michael. Thank you for having me on.
32:03
It was a pleasure. Well, hold on, folks. Don't
32:14
go anywhere. Let's hear from our sponsors. David
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33:05
A huge thank you to our guests for sharing such...
33:09
insights today. And of course, a big shout out
33:12
to you, our amazing listeners, for tuning in
33:15
and spending your time with us. If you're interested
33:18
in my digital courses, being coached or having
33:22
me come and talk to your company, just go to
33:25
Michael and fill out the request form. Remember,
33:28
networking isn't about being perfect. It's about
33:32
being present. So take what you've learned today,
33:35
get out there and make some meaningful connections.
33:38
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33:41
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33:47
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