Latest / Networking Unleashed: Building Profitable Connections / Networking Unleashed: An Interview with Matthew Fornaro and Michael A Forman, Professional Speaker
Transcript
- 0:15Welcome to Networking Unleashed, Building Profitable
- 0:18Connections, the show where smart conversations
- 0:21protect your business and help it grow. I'm your
- 0:25host, Michael Forman, and today we're tackling
- 0:27a side of networking most people ignore until
- 0:31it costs them. We all love making, we're all
- 0:35talking about connections, collaborations, and
- 0:37opportunities, but what happens after the handshake?
- 0:42what's real, what's risky, and what actually
- 0:45needs to be in place when relationships start
- 0:48turning into revenue. My guest today lives at
- 0:52the crossroads of law, business, and AI. He helps
- 0:56entrepreneurs, startups, and growing companies
- 0:59build relationships the right way without stepping
- 1:03into legal landmines or misusing powerful tools
- 1:07like AI. If you're building partnerships, Using
- 1:12AI in your business or networking your way into
- 1:15your next opportunity, this episode will help
- 1:18you connect smarter, move faster, and protect
- 1:22what you're building. I'd like to welcome to
- 1:25the podcast, Matthew. Matthew, I really am excited
- 1:29for this podcast because I'm very interested
- 1:31in what you have to say. Would you mind introducing
- 1:34yourself and how you got here today? Sure. Thank
- 1:38you for having me, Michael. My name is Matthew
- 1:40Finaro. I'm a business law attorney. I'm in Coral
- 1:43Springs, Florida. I've been an attorney for 23
- 1:46years. My practice focuses on helping small businesses,
- 1:52entrepreneurs, and startups with their various
- 1:54legal issues, whether it's litigation or transaction.
- 1:58I got into this space by starting out when I
- 2:02was practicing law. I started out working for
- 2:05a boutique firm and then two Amla 200 law firms
- 2:09and I focused on predominantly commercial litigation,
- 2:12working for big companies, banks and insurance
- 2:15companies. And then about 11 years ago, I had
- 2:18the opportunity to work for an even bigger law
- 2:20firm or pivot and do something else. So I went
- 2:25through a lot of thought and internal soul searching,
- 2:29spoke to my wife, spoke to my family. And I decided
- 2:32that I wanted to go out and start my own law
- 2:35firm. And then I figured out in what my mantra
- 2:39or my focus would be helping the small businesses
- 2:42that I felt were underserved by bigger law firms
- 2:47and underserved by local law firms here out in
- 2:50the suburbs and non -metro areas. So that's how
- 2:54I decided to focus on helping small businesses,
- 2:57entrepreneurs and startups. And that's what I've
- 3:00been doing for the last 11 years. What I am here
- 3:05today for. That sounds great. It sounds the typical
- 3:10attorney. I worked for an attorney for about
- 3:13four or five years. I was a director of sales
- 3:16and marketing and brought them from a single.
- 3:19Single shop to four states twice. I've seen the
- 3:23growth, but I also saw how the small businesses.
- 3:30The attorneys really didn't react to or really
- 3:32didn't want. to go behind because I don't know
- 3:36if there was enough money or whatever the case
- 3:39may be, but these were left out in the loop.
- 3:41So I'm very interested to have you on and see
- 3:45what you're all about. From a legal standpoint,
- 3:50what are the most common mistakes entrepreneurs
- 3:52make when forming partnerships or collaborations
- 3:56through networking? Sure, the common mistakes,
- 4:00a pretty common mistake. The entrepreneurs or
- 4:04the business people, the founders, whatever you
- 4:07want to call them, are always very eager to get
- 4:10into business and want to start their business
- 4:13and do a good job and everything. So they overstep
- 4:18and step past some very basic steps to just get
- 4:22into business and start doing business. So what
- 4:25they miss out on is they don't do a written business
- 4:28plan. Before they even start their business which
- 4:31is a necessity in the written business plan tells
- 4:34you all about what your business is going to
- 4:37be what kind of structure is going to be who
- 4:39what when where why how about your business how
- 4:41you gonna spend money make money hire people
- 4:43fire people bring on people. Get rid of people
- 4:47lease property habit website all that stuff is
- 4:50in your business plan on people just skip over
- 4:52that step then the next step they skip over.
- 4:57is the next set of documents and papers that
- 5:01you need are your governing documents for your
- 5:04business organization. And this will also get
- 5:06into step three of what a lot of people miss
- 5:08out on is that people are so excited to get into
- 5:11business and start up that they just go, for
- 5:14instance, I'm here in Florida, you can go online
- 5:16to our secretary of state website and just kind
- 5:20of mess around and register your business like
- 5:22within five minutes and then. It gets approved
- 5:25like a couple of business days later and it's
- 5:26official and they think that's all that's required.
- 5:29So they don't really draft or have the operating
- 5:33agreement. If it's an LLC, the partnership agreement,
- 5:36if it's a partnership, the articles have been
- 5:38corporation or the bylaws. If it's a corporation,
- 5:41they just go online. They're like, Hey, the state
- 5:44took it. I'm in business. And so that's the second
- 5:47thing they miss is all those governing documents.
- 5:49And the third thing they miss that kind of ties
- 5:51back into. The first two is that. They miss collaborating
- 5:57with professionals who are there to help their
- 6:00business from before the start of the business
- 6:03to the life of the residence and that includes
- 6:05people like myself as a business law attorney
- 6:08an accountant commercial banker. You know depending
- 6:12on what your business is like a commercial real
- 6:15estate agent or someone who's into SEO or internet
- 6:19stuff or technology stuff. So they try to take
- 6:23on the entrepreneur, the founder, whatever, tries
- 6:25to take on too much responsibility to themselves
- 6:28and don't understand that it's a necessity, not
- 6:30a luxury to have your group of professionals
- 6:34who call upon for their advice in their council
- 6:37to help you out. And they just try to do everything
- 6:40themselves and they do everything with whoever
- 6:42they're in business with. And they try to do
- 6:45their best, but sometimes they make mistakes.
- 6:47And it starts even before they start up, they
- 6:50pick the wrong business organization and they
- 6:53pick the wrong, wrong contracts to enter into
- 6:55or whatever, the wrong lease to enter into, the
- 6:58wrong services agreement to enter into. And then
- 7:03they have all the best intentions and everything,
- 7:05but they're on the road to things not turning
- 7:07out well because they took a few missteps at
- 7:11the beginning. And that's probably the three
- 7:13biggest areas in common. are the three most common
- 7:17areas of mistakes that businesses make in their
- 7:21startup cycle. It sounds, if you follow what
- 7:26you just said and you don't be penny wise, dollar
- 7:29foolish, you should really just, I've been in
- 7:33multiple businesses. I've had brick and mortar
- 7:36businesses. I've had virtual businesses. I've
- 7:39been the employee while I've had businesses.
- 7:41And I learned early on. get yourself a good attorney,
- 7:47get yourself a good accountant, get a business
- 7:50plan in place, and then start your business.
- 7:54So you have to get all those. So you have to
- 7:56pay a little bit to get in the right sphere,
- 8:01but you'll be thankful for it every year afterwards.
- 8:06Correct. And it's not just preventative maintenance.
- 8:09It's necessary because Little things that you
- 8:12can do at the inception are very preventative
- 8:15and proactive that prevent catastrophic huge
- 8:19issues from happening later on in your business,
- 8:22whether your business is successful or it's unsuccessful.
- 8:26You need all those steps and you need to interact
- 8:29with those professionals and stuff to avoid future
- 8:31issues, whether you're successful or not, because
- 8:34issues are going to arise. As I have found out
- 8:39multiple times, so I understand that completely.
- 8:43When business relationships move fast, where
- 8:47do you see handshake agreements quietly turning
- 8:50into legal problems later on? The issue is that
- 8:55any handshake agreement can turn into a legal
- 8:58problem, not just fast, slow, medium. It just
- 9:02happens over time. So everyone who goes into
- 9:05business obviously has the best intentions and
- 9:07wants to succeed. Everyone who goes into business
- 9:09with someone or something else obviously wants
- 9:13the best and wants to succeed. But sometimes
- 9:16things happen, whether it's good things or bad
- 9:18things, adversity hits your business and your
- 9:22handshake isn't going to cut it when you're faced
- 9:25with a lawsuit, when you're faced with like an
- 9:28IRS investigation issue, whether you're faced
- 9:31with some kind of EEOC employment claim or something
- 9:34like that. All of a sudden, the person who you're
- 9:37a buddy with or whatever in your business, all
- 9:39of a sudden, there's cracks in the relationship,
- 9:42there's issues that can happen. So you always
- 9:45want to reduce your relationship with anyone
- 9:50or anything in business into writing in the form
- 9:53of a contract, no matter how In substantial you
- 9:58think it is it has to be in writing because if
- 10:00it's not in writing it doesn't exist and it's
- 10:03he said she said at that point and Your memory
- 10:07and their memory are going to be different particularly
- 10:10when there's liability involved or when you're
- 10:12apportioning fault So that's why you know, even
- 10:15though you start out with the best of intentions.
- 10:17You don't want to have adversity You don't want
- 10:20to fail. You don't want things for everyone's
- 10:22protection, for your protection, for the other
- 10:24person's protection, and then most of it only
- 10:26for the business's protection, you want to have
- 10:28a contract that's in writing, that's clear, that
- 10:32says what the relationships between the parties
- 10:34are, how everything happens, and if there's a
- 10:38dispute, what happens. Yeah, I usually, when
- 10:42I went into a contract with a friend of mine,
- 10:46we wrote the contract out, we put it in the safe,
- 10:49and we left it there. until there's a problem.
- 10:52Then we can always refer back to it. But I always
- 10:55felt that the best thing was to put everything
- 10:58on paper and we can put it away, put it to safe.
- 11:02We don't have to look at it again, but put it
- 11:05all on paper in case anything should happen.
- 11:08So that's the way that I always thought about
- 11:10it. How should entrepreneurs think differently
- 11:13about trust in networking while protecting themselves
- 11:18legally? But it goes back to a little bit of
- 11:21what I just said. You want to make sure everything's
- 11:24in writing. So when you're networking with people
- 11:26and they want to either build business relationships
- 11:30with them or referral relationships or whatever,
- 11:33you want to make sure that if it's a official
- 11:35legal relationship, you have it in writing. So
- 11:37if you're networking with someone and you want
- 11:39to use them as a vendor or you want them to use
- 11:41your services or your products, if it's... Official
- 11:45relationships you want to make sure you have
- 11:47a contract with just a networking kind of relationship
- 11:50or relationship. You're fine just doing course
- 11:53of business but make sure that if you're. Doing
- 11:57something where it's like you get a referral
- 11:59fee or your co fees is like a co party or whatever
- 12:05that needs to be in writing because. Again, if
- 12:09it's not in writing, it doesn't exist. So it's,
- 12:11he said, she said, so you just want to make sure
- 12:13when you're networking or you're developing your
- 12:15business that it goes back. If you're in a business
- 12:18relationship, you want to make sure it's in writing
- 12:20so that there's no discrepancies and there's
- 12:23no dispute as to what people are supposed to
- 12:27do or what businesses are supposed to do, not
- 12:30do, and then how things are resolved if there
- 12:32is an issue. Absolutely. Absolutely. What legal
- 12:37conversation should happen early in a relationship,
- 12:41even when everyone feels aligned and optimistic?
- 12:46Sure. You got to talk about what, you know, you
- 12:49got to talk about the foundation of your business,
- 12:52the direction of your business, how it's going
- 12:54to run. It's all the things that go, that start
- 12:56out in your written business plan. You need to
- 12:59have discussions about everything that's in there
- 13:02so that you have a cohesive written business
- 13:04plan and then when you go to the next step. Make
- 13:07sure that you have a cohesive set of governing
- 13:10documents for your business once it started and
- 13:13then make sure when you go to the next step,
- 13:15you have your open and very transparent and honest
- 13:19conversations. with your professionals who help
- 13:22you to figure out what the best legal structure
- 13:25is, what contracts you need, what agreements
- 13:27you need. And then on the tax side, what business
- 13:30organization you should be from a tax perspective,
- 13:33because if you're one kind of organization, you
- 13:35should have been another, you're going to get
- 13:36killed on your taxes. And then from a banking
- 13:39perspective, what kind, do you need to borrow
- 13:42money? Do you have money? Who's contributing
- 13:44money? How are they going to contribute money?
- 13:46Are you going to have a checking account? Are
- 13:48you going to have a merchant services account?
- 13:51What are you going to do with it? So those are
- 13:53all conversations that need to take place even
- 13:56before the foundation of your business, but especially
- 13:59during the foundation of your business, because
- 14:01it's going to dictate how things turn out afterwards.
- 14:05Absolutely. Absolutely. As you're speaking, I'm
- 14:08just thinking back of all the businesses and
- 14:11the partners and all the documents that I had,
- 14:15I was safe. filled with documents, and each one
- 14:19was from a different business, from a different
- 14:20year. I understand everything that you're saying.
- 14:24AI is changing how professionals connect. What
- 14:28new legal risks are emerging from AI -driven
- 14:33outreach, contracts, and communication? Sure.
- 14:39So, you know, one of the things with AI is I'm
- 14:42very into AI, both in the practice of law and
- 14:45the actual running and development of my business.
- 14:48But the first thing I always say is that I'm
- 14:52in charge. The buck stops with me. I'm at the
- 14:56top of the pyramid, whatever metaphor you want
- 14:57to use. I make sure that I review that and approve
- 15:03every single AI created thing. that is attributed
- 15:07to my business. And that's what the main issue
- 15:12is with AI is that people just take it for face
- 15:15value and put it out there without properly vetting
- 15:18it or properly researching it or properly making
- 15:23sure that it's correct because they just think
- 15:25that AI is probably correct. And then that's
- 15:27where people in businesses get into huge issues.
- 15:32And I can tell you from a legal standpoint, from
- 15:35an attorney standpoint, there's a lot of attorneys
- 15:39who just go with the flow and use AI for legal
- 15:43research or legal drafting. And they don't do
- 15:46it responsibly. They don't review the work product.
- 15:49They don't confirm the case in a rule of citations
- 15:52and law citations. They just take it and throw
- 15:56it out there. And they get in major trouble in
- 16:00litigation, they can trouble with courts, with
- 16:02bar associations and things like that. And then
- 16:05with other parties or other clients or whatever,
- 16:09the work products, if it's like from a transactional
- 16:11standpoint, may not be correct. And they're going
- 16:13to get major issues from that point. For lay
- 16:17people, let's say, just the average business
- 16:19person or whatever, it's just like the same issues
- 16:23when you for the last 25, 26 now plus years of
- 16:29just using Google, doing a Google search, looking
- 16:31for a document. You're gonna find a document,
- 16:34but you don't know if it's right or wrong or
- 16:36if it's correct or incorrect or if it applies
- 16:38or not, because you're not the subject matter
- 16:41expert. You're just the lay person who's taking
- 16:43what you found on the internet. And all AI does
- 16:47is takes that to another level and another crescendo
- 16:50of A much more refined cohesive product that
- 16:54you pull off of the internet that you don't know
- 16:56if it's right or wrong or if it applies or not
- 16:59or what the consequences are. And business people
- 17:03just throw around contracts that they get off
- 17:05AI business people throw out research that they
- 17:07get off of AI because I guess. They're trying
- 17:10to do it yourself and save money or save time
- 17:13and the issue is is just like with everything
- 17:15else you get what you pay for. and you're putting
- 17:18out material that could be right or could be
- 17:21wrong. And if it's right, great, you dodged a
- 17:24bullet, but if it's wrong, it's gonna be catastrophic
- 17:27because there's major consequences if you're
- 17:29putting out a contract there that, you know,
- 17:32doesn't have what it needs in it or actually
- 17:34has the wrong stuff in it, or material like soliciting
- 17:38material, whatever, just you don't know what's
- 17:40right or wrong because you don't know what you
- 17:42don't know. So obviously AI is probably the most
- 17:46significant technological change to come along,
- 17:49maybe ever, who knows at this point, because
- 17:51it's limitless potential, limitless productivity,
- 17:56limitless time saving, limitless force multiplier.
- 17:59But with anything, you have to take responsibility
- 18:01and ownership of it. And a lot of entrepreneurs,
- 18:04a lot of business owners, whenever, like I said,
- 18:06are just throwing stuff out there that they get
- 18:08from various AI platforms, not just general platforms
- 18:12like ChatGBT or something like that, but specialized
- 18:16platforms too, that they don't know what they're
- 18:19putting out there. So obviously I encourage people
- 18:23to use AI. It's a godsend as far as running your
- 18:27business and doing things. They can do things
- 18:30that are just revolutionary, that are time saving,
- 18:32that are resource optimizing and force multiplying
- 18:36and all those cliches or metaphors you want to
- 18:39use. But you have to make sure that you take
- 18:41responsibility and ownership over it. because
- 18:45you're responsible for what you're putting out
- 18:47there. Whether the AI made it or not, it's your
- 18:49name on it and it's your thing and it applies
- 18:51to all industries. I encourage people to use
- 18:54AI. I just encourage people to use it responsibly,
- 18:57which is what the issue is that people aren't
- 18:58using it responsibly. They just take it for face
- 19:00value and put it out there. They always said
- 19:04that everything that's online, if it's online,
- 19:08it must be true. Right? Because everything online
- 19:11is factual. It's 100 % correct. Now you and I
- 19:14both know that's not true and that you really
- 19:17have to be careful what you read online. But
- 19:22chat GPT takes all of its information from online.
- 19:27Right? So it brings all this information together
- 19:30for you, but it may be putting together something
- 19:34that is erroneous. So it may save you time in
- 19:39collecting all this information, but you have
- 19:41to do your due diligence and you have to trust
- 19:45it, but verify everything that's in there. So
- 19:47you're not back to square one because you got
- 19:50all the information, but you have to verify everything
- 19:54that you get. Correct. And then also another
- 19:57thing with the AI is that it's biased because
- 20:00it wants to get you the right answer. It wants
- 20:03to get you what you're looking for. So it's going
- 20:05to try to engineer the data and the information
- 20:09it gets to make it appear like it's what you
- 20:11want. And there's a big, not just misinformation
- 20:15issue, but there's a big bias issue because if
- 20:17you frame your prompts in a certain way, you
- 20:21can essentially get whatever answer you're looking
- 20:23for because it'll find exceptions or it'll find
- 20:26whatever, and then it'll frame it as something
- 20:28that stands for something that's not the actual
- 20:31proposition. So another big thing about AI that
- 20:34I should have mentioned is that the prompts that
- 20:37you generate are probably the most important
- 20:39thing that you can do because it establishes
- 20:42your guardrails and establishes what goes on
- 20:44with the AI. Absolutely. I was going to bring
- 20:48it up because you didn't bring it up until the
- 20:50very end. I was going to say garbage in is garbage
- 20:54out. You have to really put your prompts together
- 20:57properly. What it takes to put the prompts together,
- 21:01you may ask a question. depending on the answer,
- 21:05you'll have to revise that prompt like two, three,
- 21:09four times until you get to the, what you're
- 21:13actually after. So you have to really have to
- 21:17drill down and figure out, you can't just talk
- 21:20about emails. He has a make my email better.
- 21:23That's everything you have to really, when you're
- 21:26trying to create a slide, you have to tell him
- 21:29act as a. whatever, an event planner or a design
- 21:34manager for 15 years and that you want to create
- 21:38a slide for X, we have to really get down into
- 21:42it. I've done a lot with AI, if you can tell,
- 21:45but I trust, but I verify. No, I do too. And
- 21:49so should everyone. Everybody should. That's
- 21:52first and foremost. How can business owners use
- 21:57AI to strengthen relationships and operations
- 22:01without crossing ethical or legal lines? Sure,
- 22:07you can be much more productive and proactive
- 22:10doing things with AI and it becomes easier every
- 22:14day because there's more and more specific AI
- 22:18tools out there to help you strengthen your business
- 22:21relationships and things like that, and he just
- 22:24pointed out there's so many AI programs, apps,
- 22:30bots, whatever you want to call them, websites
- 22:32that help you do things like help your social
- 22:37media, help your internet marketing, help your
- 22:41email campaigns, help your visibility, help you
- 22:46do business planning and execution. So those
- 22:50are all out there to help you. And it's the same
- 22:52adage. You can use them. I use some of them.
- 22:55Like I said, on the business side of my business,
- 22:57but like I said, the buck stops with me and I
- 23:01need to take ultimate responsibility for that
- 23:03stuff. And it's a very time saving. It's very
- 23:07resource rich and it helps a lot of things, but
- 23:10you got to make sure that you're in charge of
- 23:12it and don't be afraid to use it, but don't cavalierly
- 23:15use it and just, I'll just see what happens or
- 23:17you got to make sure you're in charge of it.
- 23:19But It can totally revolutionize your interactivity
- 23:23with other people and other businesses because
- 23:25you can just put in your whatever your thoughts
- 23:28or whatever and then it'll send out social media.
- 23:31It'll send out email contacts. It'll send out
- 23:35virtually anything you need to maintain business
- 23:37relationships and further develop those. Correct.
- 23:41Very good. Should entrepreneurs know about ownership?
- 23:45data and confidentiality when AI tools are involved
- 23:51in collaborations? Sure. And the easiest thing
- 23:56to remember is that anything, unless it's unequivocally
- 24:00specified in your particular AI program, and
- 24:04it will be the first thing that it tells you
- 24:08about itself, that your data is secure, which
- 24:11is very few AI platforms and very few AI apps
- 24:16and very few AI bots, most of it's unsecured.
- 24:20So you need to act as if you're handing your
- 24:23confidential data and your personal information
- 24:27or whatever, you're handing it to a third party.
- 24:30And it's just as if you were to hand it to someone
- 24:32off the street and ask them to put it together
- 24:35and hand it back to you. You've lost confidentiality,
- 24:38you've lost exclusivity, you've lost everything.
- 24:41So the rule of thumb is don't put that Into the
- 24:45a i keep that confidential information people's
- 24:49personal contact information or sales figures
- 24:52or information that you want to keep secret that
- 24:55you don't want out there so i'm not gonna get
- 24:57leaked if you put it in a but legally speaking
- 25:01you've given it to a non confidential third party
- 25:04so now it's out there so don't put it out there
- 25:08don't. use the AI to do things with confidential
- 25:10information. Use it for non -confidential information
- 25:13and then take it. And then if you want, put the
- 25:15confidential information in it yourself if you
- 25:18need to have that in there. If not, just don't
- 25:20do it. And that's probably the easiest way to
- 25:23avoid dealing with confidential information issues
- 25:25or confidential data or business processes or
- 25:29trade secrets or whatever it is you want to characterize
- 25:32it as. Absolutely. Absolutely. You've seen both
- 25:37startups and established businesses grow through
- 25:41networks? What legal foundation must be in place
- 25:45before growth accelerates? It goes back to the
- 25:49first thing we're talking about, making sure
- 25:51you have all your documents in place and your
- 25:54governing documents and your business processes
- 25:56and everything, but you want to also make sure
- 25:58that you have a culture to your business or a
- 26:03mantra to your business that you uniformly and
- 26:06objectively conduct your business in a straightforward
- 26:10and transparent manner and that you follow all
- 26:14the laws and rules and that you uniformly do
- 26:17that because if you don't do that, you're gonna
- 26:20maybe run into issues later on down the road
- 26:23because if you don't always comply with business
- 26:27formalities then you're going to run into a problem
- 26:30when you didn't do your annual report or you
- 26:33didn't have an annual corporate meeting or you
- 26:38didn't do something with your taxes or whatever.
- 26:40So you always want to make sure that in addition
- 26:42to all your basic documents and everything that
- 26:45you're comporting yourself in compliance with
- 26:49rules and laws and just norms regarding business
- 26:54and don't vary or don't swerve off of that, that
- 27:00platform. Because if you do, you're going to
- 27:02run into problems because if you don't uniformly
- 27:03do things, you don't objectively do things. Then,
- 27:07you know, the time that you didn't do it or whatever
- 27:09is going to become an issue because it could
- 27:11be a major hurdle down the road or it could explode
- 27:14into a very bad situation. Okay. So how can professionals
- 27:21Spot red flags during networking conversations
- 27:24that signal future legal or financial trouble
- 27:28Sure, so when you're networking with someone
- 27:33or a business organization or whatever Obviously
- 27:36if they make specific outcome guarantees or promise
- 27:41things or whatever It needs to be in writing
- 27:44and it needs to be substantiated. And not only
- 27:46does it need to be in writing substantiated,
- 27:48but you need to independently verify that it's
- 27:50actually feasible and not just take their word
- 27:53for it. So you need to do your own due diligence.
- 27:56And that's always a red flag when you're networking
- 27:59is if someone's legit and, you know, they're
- 28:01promising you a lot of stuff that they can substantiate
- 28:04it and show you in an objective format. They
- 28:07can show you the data or the metrics that support
- 28:10what it is they're referencing to you. And that
- 28:13they're not afraid to have it committed to writing
- 28:15in the form of a contract if they're promising
- 28:18you something that they're going to deliver and
- 28:20if they don't promise you then there's consequences.
- 28:23So someone wants networking with you and promises
- 28:26you a lot of stuff that's great can they substantiate
- 28:29what they're promising and are they willing to
- 28:31reduce it to writing and stand by and if the
- 28:34answer is no then that's a red flag. Usually
- 28:38with, when it comes down to networking with any
- 28:43industry, that's really not the place for those
- 28:47exact numbers, those guarantees. And if you're
- 28:51networking with somebody and they are guaranteeing
- 28:55a certain number, you don't have the time to
- 28:59challenge that. I just, as a rule, I dismiss
- 29:05that person. Because during a networking event
- 29:08for him to come out and say, Oh, I can guarantee
- 29:11you X amount. I don't put a lot of credence behind
- 29:14what he's saying. I think he's full of castor
- 29:16oil would think that. So that's what I try to
- 29:19do. Okay. Let's bring this podcast full circle.
- 29:24If you could give one rule for building profitable
- 29:27relationships that stay clean, compliant, and
- 29:31drama -free, what would it be? Sure. Just going
- 29:36back to what I've been talking about, reduce
- 29:38it to writing and make sure that the relationship
- 29:41is clearly expressed in objective terms, that
- 29:46everyone understands what is supposed to be done,
- 29:49how it's supposed to be done, and if it's not
- 29:51done, what the consequences or remedies are for,
- 29:55and make sure that you apply that to every opportunity
- 29:58or business relationship that you have. And then
- 30:01in doing that, make sure that you do it in a
- 30:06cohesive objective fashion every time and you're
- 30:11going to avoid a lot of problems that you could
- 30:13have had if you do things that way. Absolutely.
- 30:16That's great, great advice. Matthew, I'm so glad
- 30:20you came on my podcast. You gave me a lot to
- 30:24think about, but I hope all of my listeners have
- 30:27something to think about. But if they want to
- 30:30contact you, even just to speak with you, get
- 30:33advice, or to hire you, what's the best way to
- 30:36get hold of you? Sure, Michael. The best way
- 30:38to get a hold of me is just go to my website,
- 30:40which is fornarolegal .com. Just my last thing,
- 30:44legal .com. And it has all my contact information.
- 30:48It has all my social media. It has all my blogs.
- 30:51It has all my white papers. It has all my podcasts.
- 30:54It has all my videos. It has all my free guides.
- 30:58So it's a really good resource for people with
- 31:01questions, because a lot of the answers are right
- 31:03there. And then if not, Feel free to email me
- 31:06or call me. That's great. This conversation is
- 31:11a reminder that great networking isn't just about
- 31:14who you meet. It's about how you protect relationships
- 31:18that matter. The strongest connections are built
- 31:22on clarity, smart conversations, and knowing
- 31:25when to move fast and when to slow down. Add
- 31:28AI into the mix, and the stakes get even higher.
- 31:32If today's episode changed how you think about
- 31:35partnerships, agreements, or AI in your business,
- 31:39share with somebody who is building something
- 31:41real right now. Make sure you're subscribed to
- 31:45Networking Unleashed, building profitable connections
- 31:48so you don't miss conversations that help you
- 31:50build opportunity without unnecessary risk. And
- 31:54if you want to sharpen your communication, strengthen
- 31:57your relationships or business connections that
- 32:00actually pay off, head to Foreman .com to learn
- 32:04how I work with professionals. teams, and organizations.
- 32:08So until next time, connect with intention, protect
- 32:11what you build, and keep your relations profitable.
- 32:15Matthew, thank you again for coming on the podcast.
- 32:17I hope to talk to you soon. Thank you, Michael.
- 32:20Thank you for having me. Well, hold on, folks.
- 32:27Don't go anywhere. Let's hear from our sponsors.
- 32:31David Neal, co -founder, Revved Up Kids. Revved
- 32:34Up Kids is on a mission to protect children and
- 32:37teens from sexual abuse, exploitation, and trafficking.
- 32:42They provide prevention training programs for
- 32:45children, teens, and adults. To learn more, go
- 32:48to RevvedUpKids .org. Henry Kaplan, Century 21.
- 32:53When it comes to making the biggest financial
- 32:55decision of your life, leave it in the hands
- 32:58of a proven professional, Henry Kaplan. Henry
- 33:02is a global real estate agent with Century 21,
- 33:05celebrating his 41st year in business. No matter
- 33:09where you're moving, Henry has the right connections
- 33:12for you. You can contact Henry at 561 -427 -4888.
- 33:23insights today. And of course, a big shout out
- 33:26to you, our amazing listeners, for tuning in
- 33:29and spending your time with us. If you're interested
- 33:32in my digital courses, being coached, or having
- 33:35me come and talk to your company, just go to
- 33:39Michael and fill out the request form. Remember,
- 33:43networking isn't about being perfect. It's about
- 33:46being present. So take what you've learned today,
- 33:49get out there, and make some meaningful connections.
- 33:52If you've enjoyed this episode, please don't
- 33:55forget to subscribe, leave us a review, and share
- 33:58it with someone who could use a little networking
- 34:00inspiration. Let's keep the conversation going.
- 34:04You can find me on Apple, Spotify, Pandora, YouTube,
- 34:09or my website, foreman .com slash podcasts.