On my flight today I started reading Red Notice by Bill Browder. I found out about Browder from his interview on Hidden Forces and was fascinated by the story, so I decided to dive deeper and read his book.
Once I’m finished the book, I’ll post my notes and thoughts, but there is one thing I want to dive into today from Browder’s story of starting to build his investment fund in Russia.
Over the period of time when he goes from working his first assignment in Russia for Solomon Brothers to securing his first couple deals after raising money and started Hermitage Capital you see again and again the importance of relationships.
Browder can get introductions to investors, build trust with a bank, get invites to dinner with a Russian presidential candidate, find out background details about former state-run oil companies, and a lot more from people that he had weak to strong relationships with. Former co-workers, former classmates, friends of friends, or people he was connected with through acquaintances.
As a young person building your career, it is exceedingly hard to know in advance which relationships will or won’t be valuable to you in the long run. Some great friends may never help you with your career while a friend of a friend who you meet at a party may give you the most lucrative opportunity of your life.
It is also easy, as you start your career to lose the forest for the trees. To get so focused on the tasks you are responsible that you don’t take time to connect or get to know your coworkers and customers. That is a mistake.
You should prioritize kicking ass at your job, but a ton of the potential value you can get from your first couple jobs comes from the relationships and soft connections that you can build.
During his time working at Boston Consulting and Solomon brothers, Browder was well compensated, but the relationships he built there made him way more money eventually than and of his financial compensation at the time.
So don’t forget to build your relationships. Don’t waste your time, and do your job well, but don’t forget how valuable your relationships today can be in the future. More than the money you earn, and likely more than the skills you gain, the relationships you build with the people you work for, with, and around will be the most valuable part of your compensation ten years down the road.
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