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

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  Speaker 1: This episode is brought to you by P and C Bank.
• 0:03
  Speaker 1: A lot of people think podcasts about work are boring,
• 0:06
  Speaker 1: and sure they definitely can be, but understanding a professionals
• 0:10
  Speaker 1: routine shows us how they achieve their success little by little,
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  Speaker 1: day after day. It's like banking with P and C Bank.
• 0:18
  Speaker 1: It might seem boring to save, plan and make calculated
• 0:21
  Speaker 1: decisions with your bank, but keeping your money boring is
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  Speaker 1: what helps you live or more happily fulfilled life. P
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  Speaker 1: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly
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  Speaker 1: Boring since eighteen sixty five is a service mark of
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  Speaker 1: the PNC Financial Service Group, Inc. P and C Bank
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  Speaker 1: National Association Member FDIC.
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  Speaker 2: About how to build these institutional relationships if they don't
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  Speaker 2: have them.
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  Speaker 3: The first thing you gotta do is get your credit
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  Speaker 3: scoreer up to seven hundred, otherwise you can't even It's
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  Speaker 3: like somebody going to lunch with you and saying they
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  Speaker 3: want to do a five million dollar deal, but they
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  Speaker 3: can't pay for the fifty dollars lunch. I can't tell
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  Speaker 3: you many times I've had people broke. People come to
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  Speaker 3: me talking about the other five million dollars or five
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  Speaker 3: billion dollar line of credit from excuse me, China or
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  Speaker 3: Rusher or someplace that you get from China.
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  Speaker 2: I'm like, come on, knock that up.
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  Speaker 3: That I said if you had a five billion dollars
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  Speaker 3: or five one hundred million dollar a line of credit,
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  Speaker 3: do you really think that you'd be talking to me
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  Speaker 3: at lunch. Don't you think that JB. Morgan Chase would
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  Speaker 3: have that. Don't you think that Wells Froger would have that,
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  Speaker 3: KKR would have that. Some investment banker would get that deal.
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  Speaker 3: Why are you so special? It's because it's a scam, right,
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  Speaker 3: so and it and it unravels. So first of all,
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  Speaker 3: get your credit screw up so you're so you actually
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  Speaker 3: can walk the talk. If you can't do a fifty
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  Speaker 3: thousand dollars deal, don't be trying to talk talking about
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  Speaker 3: a five million dollar deal.
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  Speaker 2: Knock it off.
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  Speaker 3: So get your credit score up to seven hundred. The
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  Speaker 3: aver A credit score for black folks is six twenty
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  Speaker 3: across the country. I've done that through our Hope of
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  Speaker 3: Financial Wellness Index. You put your zip code in, I'll
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  Speaker 3: tell your credit score wherever you live. Get your credit
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  Speaker 3: score up, get your vibration up. Go to the don't
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  Speaker 3: go to the local bank branch, find the regional credit
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  Speaker 3: officer for the bank. Don't don't go to money center bank.
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  Speaker 3: Go to a regional bank or community bank that has
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  Speaker 3: a billion two billion in assets, five being in assets.
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  Speaker 3: But you can still get to the chief credit officer.
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  Speaker 3: You still get to the chief lending officer. If you
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  Speaker 3: can't get a no, why would you want to get
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  Speaker 3: a knowe from the branch manager. No disrespect intended to
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  Speaker 3: from the branch manager. If I'm gonna get a note,
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  Speaker 3: I want to know from a boss. So I'm going
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  Speaker 3: to go find. We're great at storytelling. Go find who
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  Speaker 3: are the chief lending officer. Chief credit officer is these
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  Speaker 3: people who make credit decisions at a mid size bank.
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  Speaker 3: Mid size is something with the B on top of it.
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  Speaker 3: Billion in assets. It's not very big for a bank.
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  Speaker 3: But you can still access these people their emails on
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  Speaker 3: their website. In most cases, send them an email. Don't
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  Speaker 3: be crazy, send an email. Hey, I'd like to buy
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  Speaker 3: a business in town. I read your resume, your background.
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  Speaker 3: You seem like a very interesting person. I'd love to
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  Speaker 3: meet you. He's a little bit about me. We're great storyteller.
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  Speaker 3: Most people will give you fifteen minutes. So either do
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  Speaker 3: it virtually, do it in person. Build a report in
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  Speaker 3: there and ask for a transaction. Don't go in there
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  Speaker 3: bragging about yourself. Don't go in there with don't go
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  Speaker 3: there with your hand. Go there and find something personal
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  Speaker 3: about that person. Look at their look at the photos
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  Speaker 3: behind their desk. Ask them by their wife, their husband
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  Speaker 3: about them. No one asks them about them. Build a
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  Speaker 3: personal rapport.
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  Speaker 2: A warmth.
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  Speaker 3: And but before the end of that meeting, that person
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  Speaker 3: will say, hey, by the way, thank you, this has
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  Speaker 3: been a great meeting.
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  Speaker 2: What were you here for? What do you need? What
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  Speaker 2: do you need?
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  Speaker 3: Now the door is open and you say, well, actually,
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  Speaker 3: thanks for asking. I really enjoyed meeting you. By what
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  Speaker 3: you gotta be authentic about this can't be a game.
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  Speaker 3: I really enjoy meeting you.
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  Speaker 2: Yes.
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  Speaker 3: In addition to that, I'm trying to buy the DNNIS
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  Speaker 3: office or whatever. Okay, well let's get you with somebody.
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  Speaker 3: Now that's changed everything because this person's job is to
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  Speaker 3: say yes. The person in the branch manager, I'm not
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  Speaker 3: picking the person in middle underwriting, middle management at a
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  Speaker 3: corporation or a bank or Linda. Their job is to
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  Speaker 3: say no, why they don't get fired, But saying no
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  Speaker 3: they get fired, or saying yes or the wrong thing.
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  Speaker 3: So the answers, no, you need to go to somebody
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  Speaker 3: whose business it is to say yes. That's a C
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  Speaker 3: suite executive. I'm just doing this quick because we don't
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  Speaker 3: have a lot of time. So you go to because
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  Speaker 3: I can't. I want to get to know one, get
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  Speaker 3: to know from the top. So relationship capital is everything.
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  Speaker 3: Why does somebody go to Harvard because Harve's gonna make
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  Speaker 3: you three times more smart as the state university. No,
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  Speaker 3: it's because the class of twenty twenty five at Harvard's gonna.
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  Speaker 2: Hook each other up for the next fifty years. That's
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  Speaker 2: why you go to Harvard. Country clubs, fraternity sororities, universities.
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  Speaker 3: It's a club. I can't you know, I can't mention
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  Speaker 3: where I was last week, But that's a club. You
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  Speaker 3: guys probably know what we're talking about. It was an Idaho.
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  Speaker 2: Milk and conference. It's a club Clinton Go Initiative. It's
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  Speaker 2: a club. You want to be part of that club
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  Speaker 2: if you want to.
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  Speaker 3: You want to relationship capital because they're gonna hook up
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  Speaker 3: their friends. If you see a white if you see
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  Speaker 3: a board of directors with all white siventy five year
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  Speaker 3: old men. Don't don't assume that's that's racism. It might
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  Speaker 3: be discrimination. Discrimination, is I'm discriminating against you to do
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  Speaker 3: something else? But if I grew up with these guys
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  Speaker 3: and went to college with them, we chased girls together,
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  Speaker 3: that we lied together whatever in school, And I need
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  Speaker 3: to hire somebody who's a treasurer. I'm I'm the chief
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  Speaker 3: of angel officer. I need a treasurer. And I got
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  Speaker 3: three implications on my desk. One's black, eminently experienced, ones
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  Speaker 3: a white womanly qualified, and then the third one is
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  Speaker 3: a white dude I went to college with who chased
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  Speaker 3: women and he and he and he didn't tell me
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  Speaker 3: when I when I cheated on a test, which one
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  Speaker 3: gets hired? This is a white male now and this
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  Speaker 3: is the third one. Yeah, that's discrimination. It's not racism.
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  Speaker 3: By the way, that's the way the world works. You
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  Speaker 3: have a barbecue, you invite black people do your barbecue.
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  Speaker 3: Are you are you racist? No?
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  Speaker 2: Are you discriminating? Little bit? That means your friends, So
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  Speaker 2: you're you're you're doing what's comfortable with you. We got
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  Speaker 2: to break up the comfort and insert us.
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  Speaker 3: That's why I loved you guys going to China in Africa,
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  Speaker 3: I've been one hundred countries.
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  Speaker 2: You don't go. You can't know.
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  Speaker 3: So this AI thing and this capital markets thing and
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  Speaker 3: the financial literacy thing, which I believe is the civil
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  Speaker 3: rights issue of this generation.
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  Speaker 2: Financial literacy and AI literacy is everything.
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  Speaker 3: These pieces plus relationship capital can transform Black Americas in
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  Speaker 3: five years.
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  Speaker 2: This is the third reconstruction we're in right now, in
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  Speaker 2: my opinion.
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  Speaker 1: So okay, So with that being said, Okay, mommy, I
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  Speaker 1: should just because I never really asked you about real estate.
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  Speaker 2: You you like, you said, do you still own those properties?
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  Speaker 2: So you said that you you offloaded them. So I
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  Speaker 2: was a one hundred percent owner. The problem.
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  Speaker 3: I built it from zero to one hundred and fifty
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  Speaker 3: million dollars. I was one hundred percent owner. I paid
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  Speaker 3: off eighty eight million dollars of debt and equity Christmas
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  Speaker 3: Eve twenty twenty one. I owned thirty eight percent of
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  Speaker 3: the new joint venture. I was the largest shareholder after I.
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  Speaker 3: So I sold it for lesson it was worth. It
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  Speaker 3: was worth one hundred and fifty sold it for her
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  Speaker 3: to twenty one. I was a thirty eight percent owner
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  Speaker 3: of the new joint venture. But I realized very quickly
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  Speaker 3: that I'm a control freak. I didn't have control of
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  Speaker 3: the new entity, and so I was chairman or whatever.
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  Speaker 3: I resigned as chairman, and you know, graciously, and I've decided.
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  Speaker 3: I decided to let them do their thing, because that's
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  Speaker 3: just not the way. The Camel's a horse designed by committee,
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  Speaker 3: and I don't do committees very well. And I have
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  Speaker 3: a very distinct view of how I want to do something.
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  Speaker 3: So God bless them and wish them well, and I
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  Speaker 3: have an interest in their success, right if they succeed,
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  Speaker 3: But I no longer contry.
• 8:01
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