Richard CanfieldPodcast Host and IBC Advisor, Ascendant Financial · Authorized Infinite Banking Practitioner | Author of 4 Books

Dennis Yu Exposes the Secrets to Building Credibility

9 Jul 2024 · 1 min

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A short excerpt from a YouTube interview (uploaded by Richard Canfield, July 9, 2024) in which Dennis Yu discusses a credibility-building strategy: deliberately collaborating with or interviewing competitors (e.g., peers in financial services) to grow audience, authority, and perceived legitimacy. He uses analogies (clustered car dealerships/restaurants) to argue that nearby competitors create collective credibility.

Chapters

You advise in financial services and helping people manage their wealth and whatnot. You have a best selling book in Canada and you and Jason Lowe and Caleb Williams and Garrett Gunderson and Kim Butler like all these people in the same sort of community. Right. You've realized that by interviewing these other people on Zoom or whatever, these people that might be competitors in some way actually helps you. I have so many friends of mine that interview competitors that that actually builds their credibility, builds their audience, builds their authority. This is like a huge mind twist for me because like you ever go to, I don't know, you drive along the road and like all the car dealerships are in the same place right next to each other. Right. Like all the restaurants are like right next to each other, all the competitors. That creates credibility for all of them. It's in every city. It's like that in every city. Yeah. So I love hanging out people who are competitors.