January 04, 2018

Building Power Partners with Matt Garabedian [Ep 29]

30 minutes

On today’s episode of The Flip King CEO, Joe Evangelisti invites his good friend Matt Garabedian onto the show. Matt and Joe both work in real estate, and have both made the move to becoming CEO, where they’re out of the day-to-day grind of their companies and are now focused on strategy and growth. And they’ve reached that level by, as Joe says, harnessing and leveraging the power of people. On this episode, they talk about how to connect with people you can help and who can eventually help you. If you find yourself ready to take that next step, this episode will give you the motivation and the advice to make it happen.

Be the magician, not the mule

As Joe says, if you’re still doing the day-to-day tasks of your business, then the people who work for you are “looking up, and wondering who’s up there?” Both Joe and Matt stress the need for a company to have a visionary, someone who is always identifying the direction the company needs to go. As Matt says, “Be the magician, not the mule.” In other words, don’t saddle yourself with a thousand things to do and slog up the mountain. Instead, hire the right people to do what they’re best at, and free up yourself to work your magic. How do you do that? You’ll have to listen to Joe and Matt’s deep dive to find out.

Build power partners to elevate your business

Joe talks about the need to build “power partners.” He defines power partners as people related to your industry. In the real estate world, that might mean estate attorneys or insurance providers, but however it relates to your business, it’s the people who work in your field but aren’t competitors. And you want to build relationships with those people, take them out for coffee, figure out what’s happening in their business and how you can help them. Joe recommends quick, 20-minute conversations, in which you figure out how you can help them, who you can connect them with, and what needs they have that you may be able to fulfill. And that’s just step one in building these partnerships.

Creating power partners is all about how you can help them

You may not always be able to connect them directly with the specific people they’re trying to meet. But that doesn’t matter. What you’re trying to do is connect them with the type of people they’re trying to meet. And now what you’ve done is single-handedly started a new network. This idea is all about the long game: If they eventually do a deal with the person you’ve introduced, they’re going to think of you. If they meet someone you could do business with, they’re going to think of you. There are so many reasons why this simple technique could work for your business, and Joe and Matt break down each one for you in this episode of The Flip King CEO.

Be a giver instead of a taker

If all you’re doing with your business is looking to make deals, make money, get something from somebody, you’re never going to build meaningful relationships. What you need to do instead is figure out how to help others as part of your daily routine, and make strong connections. Matt tells a story in this episode of the Flip King CEO that’s the quintessential example of helping someone out because you know that relationship is going to be important. As Joe says, “When you first meet someone, refuse to talk about yourself.” If you find that you need to not just expand your network, but strengthen it, you need to listen to this week’s episode.

Outline of This Episode