Apparently I’ve been traveling too much, because I was recently caught out of the loop.
On Wednesday I published an article about Panama’s Resolution 52; the law effectively makes it illegal for landlords to rent property in Panama for less than 1-year.
I predicted in the letter that, based on the past track record of Panama’s National Assembly, the law would be repealed shortly due to significant pressure from the real estate industry and expat community in Panama.
Well, it turns out that I was simultaneously entirely right, and entirely wrong. By the time my letter was published, Resolution 52 had already been repealed. Crisis averted.
I found out about it thanks to Augusto, my very dedicated Panamanian attorney. Even though he was somewhere shy of the 14th green at the time, Augusto somehow managed to read my letter and instantly correct my mistake with the following email:
“Your article is completely wrong. Resolution 52 was already revoked by Resolution 79.”
Did I mention he’s blunt too?
Frankly I couldn’t ask for a better attorney; I have burned through dozens of lawyers in Panama over the years, and Augusto is truly among the best in the business. He has literally saved me tens of thousands of dollars by steering me away from the wrong deals and connecting me with the right people to profit with.
Augusto’s example underscores and incredibly important point: a key element to success in many ventures lies in who you know. The ability to leverage contacts to make things happen often makes the difference between a home run and a strike out.
I believe in this principle so much that I try to make it a core theme of this letter.
All of my most profitable deals, most important relationships, and the best experiences have all come to me because of who I knew– my network. I know it’s cliché, but it’s the truth. “It’s not what you know, it’s who you know”.
It’s also true that you can dramatically expand your opportunities and experiences if you know how to grow your network; there’s an art to doing it, and it’s something that I’ve been successful with in the past.
For example, when I was working in the intelligence business, infiltrating networks was part of the job description. Now I use the same tactics to walk in to a foreign country and make a big splash with the upper ranks in a short period of time.
There’s no mystery to doing this, it’s a question of process and persistence… and sometimes even paying to be in the room.
Do you want better investment returns? Become friends with the people who have it mastered. Do you want to make a lot of money? Get networked with talented entrepreneurs and deal makers. Do you want to meet beautiful models? Get close to photographers and fashion designers.
Once you understand the strategy and tactics involved in building a new network, you’ll be able to immediately change the scope of opportunities in your life, solve problems, and create deep, rich relationships with the kind of people you want to associate with.
I’ ve written a free report about how to generate goodwill, build contacts, and penetrate any network. This isn’t for everyone, but if you’re looking to take your available opportunities and experiences to the next level, “who you know” can make all the difference.
If you are interested in receiving the report, sign up for our free daily e-letter, Notes from the Field, and you’ll receive a copy. You can sign up here.