Overview
On this episode of Build Your Network, Host Travis Chappell interviews Thor Conklin, entrepreneur, profitability consultant, and host of Peak Performers podcast. He owns a Peak Performance consulting group.
Topics Discussed:
- About Thor Conklin
- He’s been an entrepreneur for the last 18 years.
- He’s bought companies, sold companies, and even destroyed one company I his history.
- People often think everything will get easier on their journey as they go, that’s not the case.
- Before entrepreneurship:
- He wasn’t a great student in school.
- Applied to insurance school and didn’t get in.
- Had to go back and take some classes at community college.
- Then he came back to the insurance school.
- He learned that most people don’t follow through.
- He was a door to door life insurance salesman.
- He had a briefcase, business cards, etc.
- It was hard to find leads.
- He got a degree in insurance and got into serving private equity firms.
- Started Private Equity Risk Consultants.
- In the commercial insurance space back then, there were no rates, everything was negotiated.
- Based on your network you were more or less valuable as a client.
- He was about 25 years old when he started working with venture capital firms.
- His boss made him go to Hermes to get ties because he needed to fit the part.
- The first company he started, a private equity firm came to him and asked him to work on all of their accounts.
- This was one of the top five insurance companies in the world.
- They gave him 10 minutes to come up with a name and a business plan.
- In 20 minutes he had a deal done and was fully booked.
- Do you believe that what you know or who you know is more important?
- It’s who you know.
- You have to know something, the K in PEAK performance stands for knowledge.
- You have to execute on the knowledge.
- You have to get around people who recognize the knowledge and can help you.
- He was in proximity to people who were doing large deals, that helped him get the deals.
- Tell us a story about a time when a connection led to a big success:
- He was in Las Vegas at a business seminar.
- He saw a couple buddies of his and he knew they needed to meet
- He’s a connector.
- About two months after his buddies connected, the one guy asked him to come to his office.
- He gave him a 6-figure check in an envelope because the relationship was so profitable, and he wanted to thank him.
- That introduction has led to even further involvement in their firm.
- Boil it down to one tip on relationships.
- What are you going in for? If you’re trying to figure out what you’re going to get, it’s a loser’s game.
- Throughout your career, how important have mentorships and masterminds been?
- He used to be a caddy on a golf course, he would caddy for a guy who was an incredible networker. He gave him a good start.
- Why do so many people neglect to spend the time to network.
- They don’t see the importance of it.
- They’re not willing to get in and do the work.
- They don’t have the right intention.
- Networking properly takes time.
- If you had a funnel standing up, everyone is trying to figure out how to get people into the funnel.
- People are spending too much time up top throwing people into the funnel.
- They don’t have someone, or are there themselves along the customer journey to nurture them.
- These bottoms of the funnel people will throw referrals your way and those people don’t go into the top of the funnel.
- You’ve got to be present.
- People who network poorly usually do care, they just don’t understand how to connect. They’re every place except where they are.
- What fears have you overcome networking?
- He’s never really had fears, because it comes naturally to them.
- He just says “Hi, I’m Thor, what’s your name?” and then he gets to know about them.
- His intent is not to get, it’s to connect.
- Does anybody think you’re joking when you say your name?
- Yes, all the time.
- Who’s the best relationship builder that you know personally and what makes them that way?
- Charlie Weissman, his mentor on the golf course.
- Jessie Itzler, the guy behind coconut water and married to Sarah Blakely, founder of Spanx.
- He’s engaging and he makes you feel special and seen.
- He’s generally interested in what you’re doing and he’s very curious.
- Good networkers are curious, they’re not judgmental.
- It’s your network that has the biggest effect of your net worth.
- If he lost his contact list, he would go to Starbucks and just sit down with someone to get their information.
- You need to have a genuine interest in what’s important to other people.
The Random Round
- What profession other than your own do you think it would be fun to attempt?
- Yacht broker, they deal with the coolest clients
- If you could sit on a park bench for any hour with anyone past or present, who would it be?
- His dad, he’s passed away.
- How do you like to learn best, books, blogs, podcasts or video?
- None of the above, doing.
- Give us a glimpse of your morning routine:
- Wake up at 4:59am, stays in bed and starts off with a commitment, says a prayer.
- Gets up and has an audio program to his voice with music that’s meaningful to him.
- Sits down and writes out his top three goals for the year.
- What is your go-to pump up song:
- Can’t Stop, Red Hot Chili Peppers
- What are you not very good at?
- Spelling
- Find him on Facebook
- If you have a business, or not, send a 50 word or less email to Thor@thorconklin.com telling him what the biggest issue in your life or your business, he’ll respond with a 4-step process that will annihilate that issue.
Tweetable Quotes:
- People who network poorly usually do care, they just don’t understand how to connect. They’re every place except where they are.
- Good networkers are curious, they’re not judgmental.
- It’s your network that has the biggest effect of your net worth.
Resources Mentioned:
Buildyournetwork.co – Podcast website
Peak Performer’s Podcast – Thor’s Podcast
Thorconklin.com – Thor’s Website
Can’t Stop Won’t Stop – Song by the Red Hot Chili Peppers
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