What is your advice for Emerging Managers, Guy Spier?
Aug 24, 2023
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Guest Guy Spier, Investment business builder, shares his advice for emerging managers. Topics include best investments, growing into new marketing channels, long-term payback, managing business expenses, and persistence in giving.
Creating content facilitates personal connections and engagement with potential clients and investors.
Investing in oneself and making strategic investments can break through gatekeepers and open doors for success in managing other people's money.
Deep dives
Breaking Through the Noise: The Power of Writing
One of the best things emerging managers can do is to write a book or create content that reflects their honest thoughts and experiences. By doing so, they establish a direct connection with potential clients or investors, allowing them to tell their own story rather than relying on third parties. Writing facilitates a personal and authentic relationship with others, leading to recommendations, partnerships, and investments. Creating content, whether through writing or other mediums, can turn the algorithm in our favor, helping us find like-minded individuals and engage in meaningful conversations.
Strategic Investments: Breaking Through Gatekeepers
To succeed in the business of managing other people's money, one must find ways to break through gatekeepers. Whether it's writing a book or making significant investments, the goal is to gain direct access and connection with key decision-makers or investors who can support and recommend you. Investment in yourself, your education, or attending events where you can meet the right people can be costly but worthwhile. Being strategic and making investments that position you effectively can help overcome barriers and open doors for future success.
Building Relationships and Adding Value
Developing rewarding and meaningful relationships is crucial for success. By focusing on making good things happen in the lives of those around you, whether it's investors, colleagues, or acquaintances, you create a positive and privileged network. Offering additional services, organizing networking events, or supporting others' goals can enhance these connections and generate trust, leading to long-term loyalty. Being generous and providing value to others without expecting immediate returns can build a strong reputation and increase opportunities for growth.
The Indirect Approach and the Power of Persistence
Taking an indirect approach in building relationships and making requests can yield better results. Rather than directly asking for assistance or favors, using an indirect approach, such as inviting someone to an event or expressing gratitude, can create a more genuine and trust-based connection. Persistence is essential, but it needs to be balanced with observance and intelligence. Understanding when to persist and when to respect boundaries is crucial to maintaining a positive and productive relationship. The journey of giving and being persistent requires constant refinement and adaptability.
In this last part of my 2023 interview series with Guy Spier, we have collected helpful thoughts for emerging managers and investment business builders. If you are building an investment business, please check out www.good-investing.net/plus/
We have discussed the following: 00:00 Teaser 00:26 Good Investing Talks Intro 01:10 What were your best investments as a business builder? 04:37 Growing into new “marketing” channels 11:55 Long-term payback 16:08 Check out Stratosphere https://stratosphere.io/?lmref=bJ0jjw 16:37 Giving more 27:34 Managing business expenses 32:44 Recommendations for Emerging Managers 36:45 Persistence in giving 43:16 Thank you
The Good Investing universe ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Apply to the Plus community: https://good-investing.net/plus/ Enjoy the podcast transcripts: https://good-investing.net/
Helpful services for investors ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬ Stratosphere – beautiful stock analysis tool* – https://stratosphere.io/?lmref=bJ0jjw TIKR – great data tool *: https://tikr.com/goodinvesting/ Wise – our recommended savings account *: https://good-investing.net/wise/
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