Bridger Pennington breaks down two ways to access capital-raising networks: work your way in through LinkedIn groups and meetups, or buy your way in with a Ferrari or box seats. The right room opens doors to the people who fund deals.
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If you buy a Ferrari, guess what? You're in the Ferrari club. There's rooms that you work your way into, there's rooms that you buy your way into. Those are the 2 categories. Here's a few examples. You have like LinkedIn networking groups, you know, so like meetups like this. You don't have to buy to come here, you came for free. You had to work though. Like these rooms, you got to work, you got to show up, you got to be here, and sometimes the room's not good, sometimes it is good. Social media events, okay, a lot of great ways to work a room. Other rooms, you can buy your way into a room. Ferrari club, I love this example but like if you buy a Ferrari, guess what? You're in the Ferrari club. Yeah. There's the Salt Lake City Ferrari club downtown. They have a— the Lamborghini dealership has a club and guess what you have to have to be in the club? A Lamborghini, okay? Hence, you have to buy your way into those rooms. Box seats, I share a story with my dad. They bought box seats years ago and it let them get through gatekeepers. Allowed them to call, hey, we got box seats at the Utah Jazz. You guys want to come out tonight? And they'd invite wealthy people around them and that would get them in more rooms. Is this making sense? That's pay to play, that's work to play. I am a big believer in doing both.
