Why Every Entrepreneur Needs A Personal Relationship Manager (PRM)

In All, Core Knowledge, Startups by Lucas BazemoreLeave a Comment

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What if you had a way to get access to money, talent, resources, ideas, and even lifelong partnerships faster than you thought possible? Oh wait. You do. It’s called your personal network. And I can bet money that you’re bad at keeping up with it. You know you should, but you refuse to take the steps in order to do it. Plain and simple.

After reading this, if you aren’t completely convinced you should have a Personal Relationship Manager (PRM), then you’re either a “wantrapreneur” or you just have so much money that you don’t care anymore. (If you’re the latter, please call me at 713-264-1320. seriously… call me, please.)

Here is why you NEED a Personal Relationship Manager:

Entrepreneurship runs in your blood

You get up in the morning pumped. Your ideas flow. You’ve got the tenacity to tackle them. And no one else is as passionate as you. Damn straight! You should be proud of it. Entrepreneurship runs in your blood.

You’re not going to create just one business. You want to build two, three, or four! And you should. Only you can stop you.

But you are going to absolutely, unquestionably need people to help you build those businesses. Take it from the serial entrepreneur master himself, Richard Branson.

Reproduced from his own Virgin website, Branson says:

“For an entrepreneur, the ability to forge connections is a great asset. When you’re conducting business in a field where you don’t have specialist expertise, it’s often the only way to get a job done right. When our team at Virgin wanted to go to space, I looked for the best engineer in the world to help us build a spaceship. Once we’d connected with Burt Rutan, creator of the revolutionary SpaceShipOne, we were able to get to work on creating Virgin Galactic.

Branson is a massive proponent of networking, making connections, and building deep relationships with people. But how does the budding serial entrepreneur keep up with the potentially hundreds of connections he or she is making?

Well then it looks like you might need Ryze | Personal Relationship Manager to help you build, maintain, and add value to those relationships that you are building. But keep reading… there’s more you need to know.

You literally can’t keep up with everyone

According to Robin Dunbar, attributed for Dunbar’s number, you quite literally can’t maintain more than about 150 personal relationships in your head at once.

And that’s because of the actual size of your brain and the ability of your neocortex to process bilateral relationships. There are over 1225 bilateral relationships that come from a group of just 50 people.

Since you’ve only got so much space for each person, how do you manage to keep up with all the different groups you should have as an entrepreneur?

Well that’s an easy fix. As an entrepreneur, you should have a PRM like Ryze | The Personal Relationship Manager. You’ll be able to extend that 150 to probably more than 200. Why? Because a PRM will augment your neocortex and help you keep those relationships alive. (Okay, that’s a bit of an overstatement. But it will help you build deeper relationships with more people.)

You have 1000 things to do

Every entrepreneur knows that you wear many hats (though I prefer the ones with propellers). There are only 24 hours in the day, and if you’re diligent, you stay on top of most things, but let’s break this down a bit:

  1. Sleeping: 6 hours
  2. Eating: 2 hours
  3. Bathing, Crapping, and Cleanliness: 1 hours
  4. Commuting: 1 hours
  5. Distractions (i.e. Laundry): 2 hours

So on an average day you’ve got 12 hours to get work done (24 – 6 – 2 – 1 – 1 – 2 = 12 I promise). Let’s break that down further. If you’re a phenomenal entrepreneur and you just kick ass at everything, then your schedule looks like this:

  1. Answering emails: 3 hours
  2. Building product: 2 hours
  3. Talking to customers: 2 hours
  4. Attending / Scheduling meetings: 2 hours
  5. Putting out fires: 3 hours
  6. Planning for the future: 1 hours
  7. Tweeting, Posting, Pinning: 2 hours

Well look at that. You just managed to create 3 hour of time (3 + 2 + 2 + 2 + 3 + 1 + 2 = 15)! So obviously this doesn’t work out, but where is the time spent cultivating your network? Where is the time spent keeping up with connections? Where is the time spent finding new employees, seeking expert council, or finding strategic alliances?

Oh that’s right. It doesn’t happen. Not unless you trade something else. Dr. Ivan Misner, the founder of Business Network International (BNI), recommends spending upwards of 6 – 8 hours per week networking.

Yeah right. Who’s got that kind of time?! Oh wait. If you just had Ryze | The Personal Relationship Manager, you’d be on top of it, and wouldn’t need to spend near as much time networking. (That’s probably not an overstatement.)

If you just took 10 minutes to consciously send 3 or 4, “Here’s an update on me. How’s life going for you?” emails per day, you’d be light years ahead of other entrepreneurs.

Investors will demand it

Unless you’re just loaded with cash or have a rich ass uncle who will pay for everything (please contact me if you are), you’re probably going to need to solicit an investor to help you out.

Marc Andreessen, co-founder of Netscape and Andreessen Horowitz VC firm, spoke at a Y Combinator event and was asked a question about getting a warm introduction to VC firms.

His answer was, “It’s the first test of your ability to basically network your way to the investor. The way the investor thinks about it is if you can’t figure out a way to network your way to a VC firm… then you’re unlikely to be able to network your way into hiring a great team or network your way into selling your product to customers.”

You can watch the entire talk with Marc and read parts of the transcript at the Y Combinator blog.

So if you think you’ll need an investor either now or in the future, then you might want to start building those connections and relationships now. You should be using a PRM like Ryze | The Personal Relationship Manager to help you focus on the right people (i.e. your power connectors, mentors, and other entrepreneurs).

It’s your true competitive advantage

You’re probably smart. I’ll give you the benefit of the doubt. But you don’t know everything. Google knows a good bunch, but when it comes to tackling difficult problems, you’re going to get your answers from other people. Probably people you haven’t met yet.

Reid Hoffman, the co-founder of LinkedIn, has some pretty deep insights on the power of people and the power of networks.

In his book, The Alliance, Hoffman says:

“Great information and insight from the people you know can be a significant competitive advantage. We call it Network Intelligence.”

“There are more smart people in the world who do not work at your company than the total number of smart people who work at your company. So look beyond your office.”

You can see more of his quotes and insight from Business Insider. Obviously you can see that the creator of the largest professional network in the world see the value of networking. Hahaha

So if you need to reach people outside of your immediate network, (using LinkedIn lexicon) you’ll need to access your second and third tier connections. If you’ve been using your PRM like Ryze | The Personal Relationship Manager, then you’ll be able to call on people in your network and gain quick access to those outside of your network.

Convinced yet?

At this point, if I haven’t convinced you that you need a PRM, comment below, email me, or call (713-264-1320). I want to know why you think you don’t need one.

If you do believe you need a PRM, then you know what you need to do.

Download Ryze on the App Store!