My EMBA classmate makes ~$350k/year from people he met in our class. Crazy story.
The program had 28 students and cost $100k. There were 23 "execs" and 5 biz owners, myself included.
My classmate Jeff was a wealth manager, and he paid this $100k solely to network.
Traditional networking with 280 people is fine, but developing deep relationships and trust with 28 potential customers is even better. You can't even call it networking, really.
The executive MBA was 18 months long and was a lockstep cohort, which means we took every class together and got to know each other super well.
We were paired in different groups every 6 months a well.
One of the other business owners in the class was worth tens of millions from inventing a product he patented.
This product is a household name in certain circles. He took the program to hone in on his business skills, which is the same reason I did.
This guy grew to know and trust Jeff (name changed) and ultimately let him manage his wealth for a 1% annual fee.
At least 6 other classmates did the same, although with net worths much less than the biz owner's.
All 7 of these people are still letting him manage their wealth, years later, and will likely continue to do so for many more years.
That one $100k + 18 month investment made him a better business owner and provides an amazing income as well. It will be millions over several decades, not including referrals.
$350k/year is a minority of his total revenue, and he has overhead to pay, but I always thought this was an awesome story.
What's crazy is that Jeff NEVER ONCE soft or hard sold any of us. He didn't have to. He simply told us what we did for a living and then we naturally reached out to him for advice.
He's an amazing guy and friend.
The lesson? Networking is only good as:
- The company you keep - Your reputation - How well you nurture the leads - The industry you're in
More people should take this asymmetric bet this across a variety of industries.
Chris Koerner on The Koerner Office Podcast
My EMBA classmate makes ~$350k/year from people he met in our class. Crazy story.
The program had 28 students and cost $100k. There were 23 "execs" and 5 biz owners, myself included.
My classmate Jeff was a wealth manager, and he paid this $100k solely to network.
Traditional networking with 280 people is fine, but developing deep relationships and trust with 28 potential customers is even better. You can't even call it networking, really.
The executive MBA was 18 months long and was a lockstep cohort, which means we took every class together and got to know each other super well.
We were paired in different groups every 6 months a well.
One of the other business owners in the class was worth tens of millions from inventing a product he patented.
This product is a household name in certain circles. He took the program to hone in on his business skills, which is the same reason I did.
This guy grew to know and trust Jeff (name changed) and ultimately let him manage his wealth for a 1% annual fee.
At least 6 other classmates did the same, although with net worths much less than the biz owner's.
All 7 of these people are still letting him manage their wealth, years later, and will likely continue to do so for many more years.
That one $100k + 18 month investment made him a better business owner and provides an amazing income as well. It will be millions over several decades, not including referrals.
$350k/year is a minority of his total revenue, and he has overhead to pay, but I always thought this was an awesome story.
What's crazy is that Jeff NEVER ONCE soft or hard sold any of us. He didn't have to. He simply told us what we did for a living and then we naturally reached out to him for advice.
He's an amazing guy and friend.
The lesson? Networking is only good as:
- The company you keep
- Your reputation
- How well you nurture the leads
- The industry you're in
More people should take this asymmetric bet this across a variety of industries.
1 week ago | [YT] | 67