WEBVTT - Mastering Relationship Capital: John Hope Bryant on How to Build Powerful Institutional Connections

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<v Speaker 2>to you by P and C Bank, a lot of

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<v Speaker 2>people think podcasts about work are boring, and sure, they

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<v Speaker 2>definitely can be, but understanding of professional's routine shows us

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<v Speaker 2>how they achieve their success little by little, day after day.

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<v Speaker 3>About how to build these institutional relationships if they don't

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<v Speaker 3>have them. The first thing you do is get your

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<v Speaker 3>credit score up to seven hundred, otherwise you can't even

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<v Speaker 3>It's like somebody going to line unch with you and

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<v Speaker 3>saying they want to do a five million dollar deal,

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<v Speaker 3>but they can't pay for the fifty dollars lunch.

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<v Speaker 1>I can't tell you many times I've had people broke.

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<v Speaker 3>People come to me talking about they have a five

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<v Speaker 3>million dollars or five billion dollar line of credit from

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<v Speaker 3>excuse me, China or Rusher or someplace that you get

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<v Speaker 3>from China.

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<v Speaker 1>I'm like, come on, knock that stuff that I said.

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<v Speaker 3>If you had a five billion dollars or five one

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<v Speaker 3>hundred million dollars line of credit, do you really think

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<v Speaker 3>that you'd be talking to me at lunch. Don't you

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<v Speaker 3>think that JB. Morgan Chase would have that. Don't you

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<v Speaker 3>think that Wells Froga would have that, KKR would have that.

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<v Speaker 3>Some investment baker would get that deal. Why are you

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<v Speaker 3>so special? It's because it's a scam, right, so and

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<v Speaker 3>it and it unravels. So first of all, get your

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<v Speaker 3>credit screw up so you're so you actually can walk

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<v Speaker 3>the talk. If you can't do a fifty thousand dollars deal,

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<v Speaker 3>don't be trying to talk talking about a five million

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<v Speaker 3>dollar deal. Knock it off. So get your credit score

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<v Speaker 3>up to seven hundred. They have a credit score for

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<v Speaker 3>black folks is six twenty across the country. I've done

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<v Speaker 3>that through our Hope of Financial Wellness Index. You put

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<v Speaker 3>your zip code in I'll tell your credit score wherever

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<v Speaker 3>you live. Get your credit score up, get your vibration up.

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<v Speaker 3>Go to the don't go to the local bank branch.

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<v Speaker 3>Find the regional credit officer for the bank. Don't go

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<v Speaker 3>to money center bank. Go to a regional bank or

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<v Speaker 3>community bank that has a billion two billion in assets,

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<v Speaker 3>five being in assets. But you can still get to

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<v Speaker 3>the chief credit officer. You still get to the chief

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<v Speaker 3>lending officer. If you can't get a no, why would

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<v Speaker 3>you want to get a knowe from the branch manager.

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<v Speaker 3>No disrespect intended from the branch manager. If I'm gonna

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<v Speaker 3>get a note, I want to know from a boss.

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<v Speaker 3>So I'm gonna go find We're great at storytelling. Go

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<v Speaker 3>find who are the chief lending officer. Chief credit officer

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<v Speaker 3>is these people who make credit decisions at a mid

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<v Speaker 3>size bank. Mid size is something with the B on

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<v Speaker 3>top of it. Billion in assets. It's not very big

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<v Speaker 3>for a bank. But you can still access these people

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<v Speaker 3>their emails on their website. In most cases, send them

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<v Speaker 3>an email. Don't be crazy, send an email. Hey, I'd

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<v Speaker 3>like to buy a business in town. I've read your resume,

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<v Speaker 3>your background. You seem like a very interesting person. I

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<v Speaker 3>love to meet you. Here's a little bit about me.

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<v Speaker 3>We're a great storytelling. Most people will give you fifteen minutes,

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<v Speaker 3>So either do it virtually, do it in person. Build

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<v Speaker 3>a report. Don't go in there and ask for a transaction.

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<v Speaker 3>Don't go in there bragging about yourself. Don't go in

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<v Speaker 3>there with it, don't go there with your hand. Go

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<v Speaker 3>there and find something personal about that person. Look at

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<v Speaker 3>the photos behind their desk, Ask them by their wife,

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<v Speaker 3>their husband about them. No one asks them about them.

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<v Speaker 3>Build a personal rapport, a warmth. And but before the

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<v Speaker 3>end of that meeting, that person will say, hey, by

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<v Speaker 3>the way, thank you, this has been a great meeting.

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<v Speaker 1>What were you here for? What do you need? What

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<v Speaker 1>do you need?

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<v Speaker 3>Now the door is open and you say, well, actually,

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<v Speaker 3>thanks for asking.

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<v Speaker 1>I really enjoyed meeting you. By the way, you gotta

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<v Speaker 1>be authentic about this. Can't be a game. I really

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<v Speaker 1>enjoy meeting you. Yes.

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<v Speaker 3>In addition to that, I'm trying to buy the dentist's

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<v Speaker 3>office or whatever. Okay, well let's get you with somebody.

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<v Speaker 3>Now that's changed everything because this person's job is to

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<v Speaker 3>say yes. The person in the branch manager, I'm not

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<v Speaker 3>picking up. Person in middle underwriting, middle management at a

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<v Speaker 3>corporation or bank or lender, their job is to say no.

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<v Speaker 3>Why they don't get fired for saying no? They get

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<v Speaker 3>fired or saying yes or the wrong thing to the answers. No,

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<v Speaker 3>you need to go to somebody whose business it is

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<v Speaker 3>to say yes. That's a C suite executive. I'm just

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<v Speaker 3>doing this quick because we don't have a lot of time.

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<v Speaker 3>So you go to because again, I want to get

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<v Speaker 3>to know one can know from the top. So relationship

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<v Speaker 3>capital is everything. Why does somebody go to Harvard because

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<v Speaker 3>Harve's gonna make you three times more smart as the

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<v Speaker 3>state university. No, it's because the class of twenty twenty

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<v Speaker 3>five at Harvard's gonna.

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<v Speaker 1>Hook each other up for the next fifty years. That's

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<v Speaker 1>why you go to Harvard.

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<v Speaker 3>Country clubs, fraternity sororities, universities.

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<v Speaker 1>It's a club. I can't I can't mention where I

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<v Speaker 1>was last week, But that's a club. You guys right

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<v Speaker 1>to know what we're talking about. Who an Idaho milk

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<v Speaker 1>and conference. It's a club. Uh uh?

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<v Speaker 3>Clinton, go over on in initiative. It's a club. You

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<v Speaker 3>want to be part of that club if you want to.

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<v Speaker 3>You want a relationship capital because they're gonna hook up

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<v Speaker 3>their friends. If you see a white if you see

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<v Speaker 3>a board of directors with all whites, five year old

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<v Speaker 3>men don't don't assume that's that's racism. It might be discrimination. Discrimination,

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<v Speaker 3>is I'm discriminating against you to do something else. But

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<v Speaker 3>if I grew up with these guys and went to

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<v Speaker 3>college with them, we chased girls together, that we lied

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<v Speaker 3>together whatever at school. And I need to hire somebody

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<v Speaker 3>who's a treasurer. I'm the I'm the chief of ACIL officer.

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<v Speaker 3>I need a treasurer. And I got three implications on

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<v Speaker 3>my desk. One's black, eminently experienced, ones a white womanly qualified.

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<v Speaker 3>And then the third one is a white dude I

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<v Speaker 3>went to college with who chased women and he and

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<v Speaker 3>he and he didn't tell me when I when I

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<v Speaker 3>cheated on a test, which one gets hired? This is

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<v Speaker 3>the white male now in this exactly the third. Yeah,

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<v Speaker 3>that's discrimination. It's not racism. By the way, that's the

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<v Speaker 3>way the world works. You have a barbecue, you invite

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<v Speaker 3>black people do your barbecue. Are you are you racist? No?

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<v Speaker 3>Are you discriminating a little bit? That means your friends,

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<v Speaker 3>So you're you're doing what's comfortable with you. We got

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<v Speaker 3>to break up the comfort and insert us. That's why

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<v Speaker 3>I loved you guys going to China and Africa. I've

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<v Speaker 3>been one hundred countries. You don't go, you can't know.

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<v Speaker 3>So this AI thing and this capital markets thing, and

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<v Speaker 3>the financial literacy thing, which I believe is the civil

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<v Speaker 3>rights issue of this generation.

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<v Speaker 1>Financial literacy and AI literacy is everything.

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<v Speaker 3>These pieces plus relationship capital can transform Black Americas in

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<v Speaker 3>five years.

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<v Speaker 1>This is the third reconstruction we're in right now in

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<v Speaker 1>my opinion.

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<v Speaker 4>So okay, So with that being said, Mommy, I should

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<v Speaker 4>just because I never really asked you about real estate.

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<v Speaker 1>You you like, you said.

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<v Speaker 4>Do you still own those properties? So you said that

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<v Speaker 4>you you've offloaded them.

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<v Speaker 3>So I was a one hundred percent owner of the problem.

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<v Speaker 3>I built it from zero to one hundred and fifty

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<v Speaker 3>million dollars. I was one hundred percent owner. I paid

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<v Speaker 3>off eighty eight million dollars of debt and equity Christmas eight,

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<v Speaker 3>twenty twenty one.

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<v Speaker 1>I owned thirty eight percent of the new joint venture.

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<v Speaker 3>I was the largest shareholder after I sold so I

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<v Speaker 3>sold it for less than it was worth. It was

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<v Speaker 3>worth one hundred and fifty sold it for her to

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<v Speaker 3>twenty one. I was a thirty eight percent owner of

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<v Speaker 3>the new joint venture. But I realized very quickly. Because

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<v Speaker 3>I'm a control freak. I didn't have control of the

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<v Speaker 3>new entity, and so I was chairman or whatever. I

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<v Speaker 3>resigned as chairman, and you know, graciously, and I've decided,

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<v Speaker 3>I decided to let them do their thing, because that's

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<v Speaker 3>just not the way. A camel's a horse designed by committee,

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<v Speaker 3>and I don't do committees very well. And I'm a

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<v Speaker 3>very just think you of how I want to do something.

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<v Speaker 3>So God bless them and wish them well. And I

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<v Speaker 3>have an interest in their success, right if they succeed,

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<v Speaker 3>but I no longer control the enterprise.

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<v Speaker 5>An illegal alien from Guatemala charged with raping a child

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<v Speaker 5>in Massachusetts. An MS thirteen gang member from Al Salvador

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<v Speaker 5>accused of murdering a Texas man of Venezuelan charged with

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<v Speaker 5>filming and selling child pornography in Michigan. These are just

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<v Speaker 5>some of the heinous migrant criminals caught because of President

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<v Speaker 5>Donald J. Trump's leadership. I'm Christy Noman, the United States

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<v Speaker 5>Secretary of Homeland Security. Under President Trump, Attempted illegal border

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<v Speaker 5>crossings are at the lowest levels ever recorded, and over

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<v Speaker 5>one hundred thousand illegal aliens have been arrested. If you

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<v Speaker 5>are here illegally. Your next you will be fine nearly

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<v Speaker 5>one thousand dollars a day, imprisoned, and deported. You will

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<v Speaker 5>never return. But if you register using our CBP home

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<v Speaker 5>app and leave now, you could be allowed to return legally.

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<v Speaker 5>Do what's right. Leave now. Under President Trump America's laws,

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<v Speaker 5>border and families will be protected.

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<v Speaker 1>Sponsored by the United States Department of Homeland Security,