Eric Siu and Neil Patel discuss building valuable networks through hosting dinners, becoming a connector, and using content to expand opportunities. They cover YPO membership, running private summits, and hiring people with existing networks. The trade-off: time and delayed gratification for access to high-value relationships.
Chapters
I believe you have a multi-billion dollar network, if not trillion. I believe I have a multi-billion dollar network.
I don't think I have a trillion dollar network.
Okay, fine. We both have multi-billion dollar networks, I believe. And so the way we define that is with the people that we know, how much are they worth? You just combine all their net worths, right? And, but like, it, to me, like it doesn't mean much. To me, it's just like, do we know great people? And the thing I get asked over, repeatedly over the years. I remember I was doing a podcast with Ali Abdaal and he was asking me this question. He was like, you know, how do you know all these people? Right? And you and I have, have met a lot of great people. I wanna hear from your end how you've met all these people. But for me, how I've built my network over the years is I started off by doing these mini meetings. And so these like mini master— we're in a little conference room right now, but I, I remember I had a dinner table like the size of this, um, when I lived in Hawthorne and I would have marketing directors come over and we would host these dinners. Eventually these dinners became bigger. We'd do them at, you know, fancier restaurants. You don't have to do 'em at a fancy restaurant. We started doing happy hours in downtown LA, um, at this bar upstairs. And then we, I, then I started doing events, right? And then some of these dinners would have like 40 people and then some of these events, you know, might have, you know, hundreds of people or whatever. Right. But my point is, I, I forgot who I learned this from, but if you know how to become the connector or the node, everyone eventually figures out who you are and they know who you are. They just wanna know like, oh, it's, it's, it's always Eric, the one that connecting everything. Even the dinner I did yesterday, the, the YPO dinner. Nobody was really emailing for a while. So I, I got the group together. I said, hey, we're gonna do it over here. You know, I, before they got there, I just ordered everything. And it just, you wanna make things easy for people. If you can put a great group of people together and then they can have a nice meal and then just make things like easy, like done for you, people are gonna come back to you. And you and I both know that everything in business is very much a people game. You need to hire amazing people. Well, if you meet amazing people, they might know other amazing people, or sometimes they might become your customers or they might refer you to somebody else. I don't do these to try to necessarily make money, but I know I'll make a lot of money in the long term. Um, but that's not my objective. I think all I've known in the past is just as long as I keep meeting people, um, amazing people that, that have my values, I know my network and my net worth will keep compounding.
Yeah, I totally agree with that. And it's getting to know people on a personal level because in that way, when you need help, they're much more likely to help you. I think the, you mistake most entrepreneurs make with networking is they meet someone, they don't really build a relationship, but they say, oh, I'm connected with, and then they think that they can just hit them up and ask them for favors.
Yeah.
And I know we both get that a lot. Like people just messaging me and being like, hey, can you do this for me? And I'm saying, I'm like, I met you once at a conference. I don't know you. You're asking me to promote your product and service on my social profile. Why?
It's— they— the, the, the problem with those people is they come into networking, and I hate using the word networking. That's why you and I don't really call it networking. I just call it relationship building. Cuz networking is very transactional. They want something out of it quickly and they're trying to angle their way into it. To me, relationship building takes a long time and I'm not really looking to get anything out of it. I think the only time where I've asked you to say, oh, let's, um, hit your email, it's only to hit your email list is only if it's favorable to both you and I. I don't really ask, like it's never been one way. I don't think it has been.
You've never forced me either.
Yeah. I'll say, hey, this is a potential, here's what I might see with the numbers. And you might run the numbers. Numbers look good, we might do something. If not, that's what it is.
And usually say, if the numbers work out for you, great. If not, no worries.
Yeah. And so there's no, I think the problem most people have with building a network is there's an expectation. I don't really have an expectation with these relationships. And if they treat me well, I continue to treat them well. And then to your point, the one-on-one thing, So once I start to meet people, there's gonna be people that you vibe with and people that you don't really vibe with. And you and I know like creators out there that are really popular and all that. We know them, they're more acquaintances to us, but there are people that I have genuine long-term relationships with. I'll do anything for. And those are the people that I wanna keep around. So you have like, you'll filter eventually, like once you build this node around you, or, or sorry, once you become the node.
Yeah. And like for me, I know networking is important, but I, I think I've kind of stopped networking.
You stopped cuz you don't, 'Cause one, keep in mind guys, Neil, you've been in business for like 25 years. So in the very beginning you were networking, like you would, you had a podcast where you were interviewing Jason Calacanis, you were going to events and things like that. So you did play that circuit. So there's a level to it. I think eventually you might say, I don't need that anymore.
Yeah.
And plus your audience became big too.
Audience became decent size. I think what's helped me more than anything else is understanding what helps me accomplish my goal. And that's usually not my own network. What helps me is hiring amazing people who have done it before, who already have the network, and I focus on just hiring them. And a lot of that is just outreach and trying to build relationships with them virtually. I haven't even met a lot of those people that work for me, but I have virtually, like on Zoom or a Skype call or WhatsApp call. No one uses Skype anymore. But, um, yeah, and then I just double down on that and I ignore everything else because I find that time is limited in this world. So why spend it to do things like continually go out to dinners with people? I'm not saying there's nothing wrong with that. When I was single, I did much more of that. I had more time. Now, you know, like yesterday when you were at dinner, I was like, oh, kid home, gotta get him in the shower, gotta get him to eat dinner. Got to get him in bed, read stories. We've got a busy day, got to pack. We're leaving on Friday and yeah, going to Vegas. But I had all these things in my mind. So right when they came home, I'm like, how can I convince him to get into the shower right now and start taking a shower? So it's just my mind is filled with so many of those things where I just don't have time for everything.
All right, so I wanted to take a moment to tell you about my podcast co-host Neil's agency called NP Digital. and they work with a whole host of global companies or a global organization. Also, Neil has SEO tools such as Ubersuggest and AnswerThePublic. All you have to do is go to npdigital.com to learn more, and we'll see you on the other side. Let me give you the flip side here. The second part to this, and then we can move on and talk about the summit and how this contributes to the network as well, and why I'm even doing it for basically pro bono. You have created content for a very long time, right?
Yeah.
And I do think, And I've created content for a while too. I do think the content has gone a long way. So I believe my content has helped me, you know, get some of the partners that I've gotten, right? When I think about you, for example, I think Mike found you. Mike Kamo found you through your content, correct?
No.
How did he find you?
AJ introduction.
Oh, AJ. Okay, got it. Okay, so AJ, you've known since high school. So that's like—
But most people find me through the content.
Your relationship and my relationship started because of your content because I was calling you out for something on your blog. More so I was asking questions, wasn't really calling you out.
Either one. That's okay.
But yeah, but it came from your content. So a lot of relationships that I've had, Yaniv, for example, that's through content, right? 'Cause he invited me to speak at his thing 'cause he listened to my podcast in the very beginning, right? Syed, that was through content too, but in interesting ways because let me make this connection. So Treehouse, the reason you got connected to Treehouse in the beginning was because of your content, right? Through your content.
Yes. Ryan Carson saw my content. I used to speak at his conferences. He had a conference back in the day, then he did Treehouse, and then he asked me marketing questions.
Yeah. And, and just to rewind for everyone here and then we'll move on. Treehouse is the online education company that I worked at. And then Neil was an advisor for that company for a little bit. And then, so Ryan, who's the CEO and founder, found Neil. And then I found, I already knew Neil and I found Ryan's content through Kevin Rose, right? So like all this content does increase the surface area of luck to make you aware and want to reach out to somebody. And then eventually through our connection, eventually I got connected to Treehouse, right? But I'm just saying that you can build a network in many different ways. You can do it through just being really successful, like being really good at business. Elon Musk, right? Or you can do it through like compounding like networks or dinners or events. Like even Ryan did that too. Or even like I did that, right? Or you can build content too, or you can combine these things as well.
Yep.
So, and then this all goes over to, okay. We're doing this private marketing summit next week, or more so I'm helping YPO with this. It's the YPO Global Marketing Summit in Miami. And, you know, it's like, okay, well, am I making any money from this? No, I'm not. In fact, I'm paying for my own flight. I'm sponsoring my own event. And, and then at the same time, I look at, and I'm, I'm not really upset about this or anything. I'm actually very excited.
Wait, you paid for your own flight? YPO didn't pay for your flight?
No.
But wait, why'd they pay for my flight?
Beats me. But anyway, let's continue. So I, I see, I didn't even, I went, I'm not even aware of that until right now. Right. So anyway, and I might get in trouble for this, but whatever.
Um, they should pay for your flight and hotel room.
Hotel room. They did. Um, okay. So anyway, the speakers, those are all my relationships. The venue, I picked it, the agenda, I picked it, right? All these things. Right. And so I'm, I'm very excited about this, but the key thing is it's, it's pro bono. Right. And so, People are asking me, like even YPers are asking me, like, they're like, why are you doing this pro bono? Like what's in it for you? The thing that I've realized over the years is that these things will all come back to me in some way, shape, or form. And sure, this was a lot of work to do for pro bono, but I just know that you, when you have 180 people coming and they're all business operators, like some people, people know other people and all that.
Yeah.
And it will come back to help me. And so I think you have to look at it that way. You're, this is a situation where it's proof That I'm just looking to play the long game here. Yeah. And there's no immediate gratifi— gratification. It's delayed gratification.
Do you like YPO?
I do. I like the people that I meet in YPO. That being said, I'll compare it to Entrepreneurs Organization. Um, Entrepreneurs Organization's all entrepreneurs. The requirements are lower, but when I meet other entrepreneurs, there's a different vibe. Um, and it's not saying YPO's bad. YPO has like family money and then you have like founders and then you have like hired guns. Um, there's just a different vibe. It's different perspectives. But I think with you and me, like entrepreneurs, like we, what I said, said earlier, we, we know how to tsuku. We know how to eat, eat, eat shit. It's not really eat shit, but it's, it's like, you know, um, ku actually means it's like bitter. Eat bitterness.
That's what it is. Yeah.
Yeah.
I've been in YPO I think 2 years now.
Oh, you're still in? Yeah.
Oh, I, I, I don't think I'll ever join again.
I think that, okay, we can move on from this and, and then we can talk about how to plan a private summit or whatever else you wanna go into, but If you had a forum, like one of our mutual friends, where it was like all very like successful investors and the YPOs, and one guy owns one of the largest car companies in the world, and then another, like that's the kind of group you want to be in. I think you just haven't found that yet, but it takes time to find.
Well, no. So I was in Beverly Hills originally with you. Good group of people. I didn't want to keep driving to the meetings because they weren't in Beverly Hills. They were actually in Santa Monica.
Oh, I only go to the local meetings.
Oh, okay. So I stopped doing that. And then I tried to switch chapters. So I joined one year, but I think it was called Global One. Is that the online one? And I was trying to get into— is it Los Angeles Gold is what it's called?
Yeah, but you can't, you're not old enough.
I tried and they were trying to figure out a way, but I got denied because of my age. And then I think I would have been happy with Los Angeles Gold. But the problem is I think you have to be like 50 or something.
You have to be like 50, 55.
Yeah. Yeah.
So you're not quite there yet.
I need another 10 years.
Yeah. Yeah. So my point is for Neil, this is not necessarily a bad thing, but he, and by the way, okay, so, so here's the thing I'll say and then we can move on from this. Yesterday I started, uh, I joined a YPO SaaS forum, so it's all SaaS founders in there and there's a ton of business value in there. And I think that's what you want. You want more business value than anything. Like you're not here to party or anything like that. Yeah. It's just, and I think if you could, you, Neil's perspective, this is not incorrect. It's more so, You want to hang out with people at your level or above your level so you can learn, right? And I— those pockets are available. This is a delayed gratification thing. I think, I think it just takes a little time to get used to it.
I gotta wait 10 years.
For, for gold. But like, I just mean right now, even right now, our mutual friend, he's the only 30-year-old in that group and everyone else is like 50, 60.
Yeah. And, and I, I know there's big hitters in a lot of different YPO groups, but I mean, David Sacks is YPO. Yeah. But what I found is The biggest hitters tend to be in YPO Gold.
Yeah, because they're older. Because it takes time to— see, you think it's normal for you to have the success you have right now.
I don't have that much success. Mark Zuckerberg is my age and he's way richer than I am.
He would never touch YPO at that point. They have their like billion trillionaire YPO. Sure.
But that's why I want to join Gold because I was like, oh cool, similar sized businesses. And then you can—
But just to share, I mean, you can share some of the stories you heard. Some of these people have done like You know, very big deals. These are like multi-billion dollar deals or like hundreds of millions of deals. I, I'm not, hundreds of millions of dollars. I'm not gonna name, you know, but the, these are the types of people you wanna interact with.
Yeah. But most of 'em are in YPO Gold.
I, I know. Had you, okay, well, and on this one, so like, uh, on the YPO piece, I think if you get more involved, you start like, this is why I'm getting more involved with this thing. So I'll start to know more people in Gold and the more people you know, the more they're gonna pull strings for you to make things happen. That's my Yeah, but Neil just doesn't want to do that right now.
No, I don't want to do the work.
Yeah, so you just wait 10 years.
Yeah, yeah, I'll wait 10 years.
Yeah. But anyway, guys, um, hope you guys enjoyed that session. That is it for today. We're gonna be recording in Miami using my DJI Osmo next week. Neil and I will be, and, uh, we'll see you in Miami.
