Good afternoon, everyone, and welcome to another NachoTuesday. Today, I have Brian Lee here with Gildre. Without further ado, we’d love to hear about what your professional community does and learn more about your company. (00:38) Absolutely, I appreciate it, Andy. Happy to be here. At Gildre, we work to create a space for meaningful connections for what we call the "middle 98%" of entrepreneurs. We say "middle 98%" because, while there are phenomenal groups catering to the top 1% of entrepreneurs or those at the bottom 1%, we wanted to create a space with vetted subject matter experts—startup leaders, investors, and people who have been through it before. Sometimes, just one piece of information or one conversation can completely change the trajectory of how someone views themselves or their business. That’s really what we’re looking to build, and we’ve been doing that since last May. We currently have about 180 members and are looking forward to continuing to grow. Importance of Professional Networks (01:04) Why is it so important for people to be a part of a professional network? What tips would you recommend for finding a network that fits, and what kind of value can they receive from it? That’s a great question because there are so many networks out there. So many communities and groups exist, and it’s challenging to find a meaningful "third place" to connect with others. Traditionally, there was work, home, and perhaps a social activity like going to a bar, playing sports, or hanging out with friends. Nowadays, it’s harder to find that meaningful third place due to increasing costs and other factors. The importance of these communities is twofold: first, they elevate your thought process and how you approach problems, and second, they help you meet interesting people. We built Gilder to filter out communities where interactions are merely sales pitches or self-promotion. On platforms like LinkedIn, while it started as a way to connect with people you met in person or had a level of connection with, it has become a powerful sales tool. Many interactions are now transactional, with countless virtual assistants and sales pitches filling our inboxes. Finding a community that fosters genuine, meaningful connections remains crucial. Community Operations (03:44) Tell us more about your community and how it operates. Do you host any in-person events, or what does it look like? We are an international community with a strong presence in North America. About 70-80% of our members are based here, with the remaining 20-30% spread across Europe, Africa, Asia, Latin America, and Australia. We support both in-person connections and virtual interactions. We have regional hubs in major U.S. cities like Chicago, Austin, New York, and San Francisco. We also facilitate connections between members from places like Switzerland, the Bay Area, Sydney, Lagos, and other locations worldwide. We host virtual events such as speed networking, innovation roundtables, and executive workshops. Our goal is to create value-added opportunities and events that help people connect meaningfully. Networking sometimes gets a negative reputation for being transactional. Instead, we aim to get back to the basics of making genuine connections. As we age and our social circles shrink, it becomes harder to make new friends. We want to help people build connections without the pressure of transactions or personal gain. Building Meaningful Relationships (05:15) The importance of win-win relationships and thinking in terms of karma is crucial. Often, transactional people focus on what they can get from others, but it’s important to help others without expecting something in return. By creating good relationships, you build a reputation and positive word of mouth, which is essential both personally and professionally. Focusing on mutual benefit every time you meet someone will not only be better for them but also for you in the long term. Networking and Relationship Building (06:04) It seems counterintuitive to the people who are trying to get something today, but I think that’s where the types of people who attend networking events come into play. To be fair, there’s no right or wrong way to network, but there are definitely more wrong ways than right ways. You can approach networking in various ways, and I’m not going to critique anyone's style, but it becomes clear when you interact with someone at these events if they are primarily focused on their own agenda or something specific. There's nothing wrong with having an agenda for attending an event, but like everything in life, it’s about balance. Brad Feld, a prominent entrepreneur and author, offers a great example in his book about the "give first" mentality. Realistically, most people are inclined to be altruistic. If you have knowledge or resources to share, doing so without expecting something in return is valuable. In the grand scheme of things, this builds your personal brand. Others will recognize and appreciate your genuine help, which can lead to reciprocal support down the line. (07:20) It’s very clear when someone is at an event to support the community versus when they are there for personal gain. Navigating Networking Challenges (07:45) Sometimes, people might be nervous or receive conflicting directives from their leaders. They might be focused on meeting specific KPIs rather than building relationships. For those who are unsure of themselves, it’s crucial to approach networking with a genuine interest in meeting people. For leaders sending out salespeople, it’s important to make it clear that their primary job is to build relationships. KPIs and other metrics will follow once strong relationships are established. Ensuring that your team understands that they are there to represent your brand and build positive relationships will ultimately benefit your brand and sales in the long run. (08:35) I’ve seen many events where someone quickly pitches their services, asking, “Do you know anyone interested?” within the first 30 seconds. It’s interesting to consider how many of these scenarios actually turn into sales versus those where people simply exchange pleasantries and move on. Taking the time to develop relationships is crucial. If you attend an event to genuinely connect and engage with the ecosystem rather than just to meet a sales target, you’re more likely to foster meaningful interactions. (09:00) There are certainly events better suited for transactional networking, like trade shows, compared to those focused on community building, such as networking happy hours. The approach we’re discussing works better for events aimed at fostering connections rather than just transactional interactions. The Importance of Mentorship (09:48) Another significant concept is mentorship. Why is it so important to find a good mentor and to also be a mentor for others? What are the trade-offs between learning through trial and error versus learning from someone who has already been through the process? Mentorship is incredibly valuable both personally and professionally. From playing sports to academic tutoring or guidance from parents, having a mentor or advisor in your life can profoundly impact your growth. A single conversation with a mentor can alter your trajectory and change how you approach various problems. The right mentor is someone who genuinely embraces the "give first" mentality and is passionate about helping you achieve your goals. They should be invested in your success and offer guidance based on their own experiences. Learning from someone who has been through the challenges you face can provide invaluable insights and accelerate your development. The Importance of Regular Check-Ins (11:13) Having regular check-ins with a mentor—whether it's once a quarter, every week, or every month—can make a significant difference. This consistent interaction helps you stay accountable, especially if you're a solo founder or part of a small founding team. A mentor with more experience or industry knowledge can open up a whole new set of possibilities for your business. Mentorship is not just about knowledge. At Gilder, we view mentorship as a strategic partnership. It shouldn’t become transactional, like merely reviewing pitch decks or making introductions to investors. Trust must be developed over time. A mentor won’t just open their network to someone they’ve just met without first understanding if they will represent them well. (11:43) Having a coach, mentor, or advisor is almost a must-have at some point in one's career. There may be times when you need to learn through experience and failure, but the right mentor can save you a lot of time and money on your projects. Value of Strategic Advice from Mentors (12:33) Mentors can be incredibly helpful in providing strategic advice. They guide you in approaching problems and solving them, while you do the actual work. This process of learning through doing not only enhances your skills but also prepares you to be a valuable mentor in the future. However, be cautious of individuals who claim to be advisors but are merely looking to attach themselves to various companies. Genuine advisors are interested in your growth and success. They offer valuable support without vague promises and are committed to helping you excel. Be careful of those who might only want to ride on your coattails. Assessing the Value of Advisors (13:51) Your equity is one of your most important assets as a founder. Even a small fraction of equity given to an advisor can add up over time. Therefore, it’s wise to challenge potential advisors to invest directly in your company. If they believe in your vision and invest in you, it creates a stronger and more genuine relationship. You should never feel like you have to beg for advice from your mentor. Ideally, it should come freely because they believe in your potential. If they are only looking for short-term benefits, that relationship might be doomed from the start. (15:07) Perform due diligence on potential mentors and advisors. They represent you as well, so their credibility and genuine interest in your success are crucial. Building a Professional Network (15:36) To build a meaningful professional network, start by attending a variety of events that resonate with your interests and goals. Whether these events are related to entrepreneurship, specific industries, or general ecosystem gatherings, they can help you find your community. Over time, focus on fewer, more targeted events where you repeatedly meet the same people. This approach helps in forming more intimate relationships. For instance, attending a regular founder breakfast allows you to build deeper connections compared to attending many random events. (16:27) It may take a conscious effort to remember names and faces, but focusing on a smaller number of recurring events can foster stronger relationships. If you find that your circle isn’t a perfect fit after some time, you can always adjust your approach and continue building connections. Maintaining a Strong Online Presence (17:43) In today’s digital age, maintaining a strong online presence is crucial. Even if you haven't met someone in person, your online image can make a significant impact. Ensure your professional profiles, especially on LinkedIn, are well-crafted and reflect your true professional identity. Positioning yourself effectively online and establishing credibility can help others notice your expertise and contributions. Building a solid online presence requires consistent effort and authenticity. Ensure that your online interactions align with your professional goals and values. (18:08) In person, there are so many different ways you could approach things. LinkedIn, for instance, is often considered the gold standard from a professional standpoint. However, I know many people who either don’t use LinkedIn or don’t like it for various reasons—such as the spam and other issues we discussed earlier. This highlights the importance of how you want people to view you professionally versus personally. When someone meets Andy at a conference and learns he leads Partnerships at Nacho Nacho, they get a snapshot of his professional role. But what’s deeper than that? I believe that what you do outside of your main job often stands out the most. (18:33) In America, so much of our identity is tied to what we do. When meeting new people at events, the first question often is, "What do you do?" This focus on work is understandable given that it occupies most of our day, apart from sleep or a very busy hobby. When shaping your personal brand online, especially where you might not meet people in person, it’s important to think about what you want to be known for—whether it’s as a thought leader, a speaker, or a super-connector. Your affiliations, the events you join, and the groups you participate in should reflect this. (18:58) For instance, I recently joined the Founder Institute as a mentor and have been involved with other accelerators and events as a guest panelist and judge. I do this because I am passionate about entrepreneurship and supporting founders. I try to create my profile in a way that reflects my willingness to volunteer and participate in speaking engagements. This openness can be crucial if you’re seeking advisory roles or other types of engagements. Highlighting your involvement in volunteering and mentoring can greatly impact how people perceive you online. (19:25) The term "Association and Authority" comes to mind. Being associated with the right people and groups can enhance your authority in a field. Joining professional communities helps build your identity as an entrepreneur or thought leader. Engaging in panels and webinars can position you effectively within your industry. The right associations contribute significantly to your online brand identity. (19:52) There are many excellent communities that support this growth, though some are less effective. Large communities, such as those on Discord or Reddit, often become transactional and less personal. It’s essential to surround yourself with people who are willing to contribute rather than just take. Finding the right community or group is crucial, and there are numerous great options available. For instance, if you’re a woman leader seeking other female executives, you might consider groups like Chief. For mentorship or early-stage building, Gilder could be a good fit. (20:17) When joining a community, it’s important to align with its mission and values. These organizations can evolve, so even if a community doesn’t perfectly match your goals now, it might in the future. Sometimes you may need to move on as you grow, just as you do in your personal life. (20:44) So, what is a common mistake people make when building their online professional image? A lot of it comes down to overcoming imposter syndrome—feeling like you’re not good enough for certain roles or opportunities. This can be apparent both in-person and online. On LinkedIn, for example, it’s easy to present oneself as more accomplished than one might actually be, due to the lack of vetting on the platform. (21:11) To address this, start by eliminating any fluff from your profile. If you wouldn’t feel comfortable speaking on a topic for an hour in front of an audience, consider removing it from your profile. It’s better to be known as a master of a few things rather than a jack of all trades. Being a thought leader or expert in a specific area can be more valuable than spreading yourself too thin. (21:40) Tailoring your resume or online profile to match specific roles or opportunities is crucial. If your resume or profile is generic, it’s less likely to stand out. A focused identity can also improve conversion rates when attracting potential customers. The key is to use your online presence to build credibility as an advisor, mentor, or speaker, depending on your goals. (22:01) It’s also important to adjust your profile based on relevance and recent experience. For example, focusing on the last five to ten years of your career rather than listing everything from 20 or 30 years ago can make your profile more impactful. Early experiences are less relevant once you’ve established yourself. (22:24) Failure is part of any profession, and often the best stories and lessons come from it. I’ve had my share of failures, such as when my friend and I launched a BC travel tech app. We began development in 2019, but by May 2020, the pandemic had significantly impacted travel. We quickly pivoted from a consumer-focused app to helping SMBs and local communities. (22:49) The failure of our initial concept led us to adapt rapidly. By listening to our customers and understanding the current needs, we were able to pivot effectively. This flexibility and willingness to change course are crucial lessons for any startup. (23:16) In any venture, it’s important to recognize when to pivot and find alternative solutions. This ability to adapt and own your failures can lead to discovering new opportunities and ultimately success. (23:43) Looking ahead, what’s next for Gilder? With so many fantastic entrepreneurial communities available, Gilder’s goal is to create a space where people genuinely want to be involved. Our focus is on fostering a community where everyone contributes and learns from each other, regardless of their background or experience level. (24:08) Gilder is about lifelong learning and supporting each other. Whether you’re an established entrepreneur or just starting, everyone has the potential to provide value and impact. The key is to find a community where you can both contribute and benefit from others’ experiences. (24:29) The essence of community is not about exclusivity but about creating an environment where individuals are committed to mutual growth. It’s about finding a space where people are genuinely passionate and engaged. (24:53) At Gilder, we aim to be exclusive but not elitist. We believe everyone deserves access to resources and opportunities. Whether you’re a billionaire with multiple exits or a young entrepreneur with a fresh idea, everyone can provide value and benefit from the community. (25:23) Finding the right community can make a significant difference in your professional journey. It’s about surrounding yourself with people who share your passion and energy. Building meaningful relationships with those who are equally committed can be more valuable than sporadic interactions. (25:46) Thank you for discussing this with us today. Anyone interested in joining a meaningful community for entrepreneurs and tech leaders should consider Gilder. You can find it in the B2B SaaS Marketplace at a 20% discount for memberships. Investing in meaningful relationships now can pay dividends in the long run and contribute to a successful career. (26:08) Brian, thank you again for your insights. We look forward to continuing our partnership and seeing the growth of Gilder. (26:31) Thank you, Andy. I appreciate the opportunity and am excited about what’s ahead.