R. Adam Smith discusses network-building, and it's about to get innovative

"Always respect where you’ve been, those you’ve worked with, and stay in touch with them." In this edition of You've Got This, investment banker, entrepreneur and advisor?R. Adam Smith shares his approach to building his portfolio career, driving impact, and his insights into finance as a career as well as the importance of building a dynamic and engaged network. Don't miss his answers below, along with announcing our next guest, author, speaker, and founder Julia Pimsleur.

Victoria: "Can you share with us your professional journey?"

Adam: "I began as an entrepreneur in high school, with a couple of odd jobs mowing lawns. I think I sold some Amway product at some point; certainly not enough to retire.?And then during college, I decided to look more into the financial markets, as I had been trading some stocks, testing my curiosity and ideas, since the age of 16. So during college, I took some internships in financial services, first at a mutual fund within Scutter, Stevens and Clark (later merge into Zurich) and also in the high net worth area of Smith Barney - both of those roles being held in my senior year. I was able to get early insights into the markets and finance culture. Part of my family comes from Wall Street, so I was curious how it worked, and of course, I wanted to get the best job I could. I hustled, networked like crazy, and I was fortunate enough to have the opportunity to go to Wall Street and join Salomon Brothers or Kidder Peabody—both of which were terrific organizations at the time. I chose Salomon, which is where I began my career in 1993."?

Victoria: "Most recently, you’re a managing director at Salomon Brothers, but in your previous experiences you’ve advised companies ranging from art galleries to consumer packaged goods. What do you find the most compelling things about advising companies, and what opportunities do you see coming up around the pandemic?"

Adam: "I guess I’ve always been advising companies, and have always tried to learn how to be the best advisor to an increasingly complex audience. As a banker, you’re advising clients to help solve problems for them. As an investor, you’re also advising multiple constituencies, including your investors, the board, and the management each with their own unique set of goals on how to run the company.?So I’ve seen different sides of the coin - from what they call the sell side and buy side - and also as a founder.?

As a banker, you have to advise the whole company and continually test your thinking—to be nimble, mindful, and creative, and look forward, and consider the whole circle of the organization as well, from its financials, its industry, its culture, its people, and its mission.?

So I think many people advise companies with the perspective of more of a transactional view, but it’s important to look at the more holistic relationship, and go beyond advice - to put yourself in their shoes. And I am proud to now be supporting Salomon Brothers in its renaissance, providing strategic advice to clients. As is the case at all investment banks, it is an important time to be an advisor to clients—mostly, our world becomes more consistently complex, particularly in environments like this. And clients’ needs become more multifaceted when there’s greater volatility. And here at Salomon Brothers, as has always been the case in our investment banking—the pillar, our core—is the client. The mission of investment banking is to provide service to clients in their goals to attain excellence, whether it’s a transaction structure, wealth creation, reconfiguring a business - ultimately it’s about finding the best solution for them expeditiously and successfully.?

Again, it’s a complex time. And to be a trusted banker in these markets is intellectually rewarding and empowering to help others."

Victoria: "You’ve also a co-founder of Caring Capitalism. How do you approach driving impact?"

Adam: "Caring Capitalism is dedicated to offering a broader, collaborative, progressive voice of pluralism in global economics.?Over time, we hope to provide a platform for a wide range of voices around the ecosystem of capitalism, and how it can be improved, how it affects the whole suite of stakeholders, and create a unique intellectual hub for experts within that community.?These days, there are many worthy causes driving financial knowledge, empowerment, and community across education, technology, leadership, next-gen startups, media—all of these can be supported from mindful philanthropies dedicated to supporting an evolved framework of modern capitalism."?

Victoria: "For those who may be interested in finance or strategy, what advice would you have?"

Adam: "The path into finance—and investment banking in particular—has always been and continues to be, quite intense and complex. It is not for the thin-skinned professional.?But for those that want to enter it and go through it, it can be quite rewarding, beyond the financial element.?The real gains of being successful in finance—and particularly investment banking—is to become a trusted advisor to your clients. Salomon for example, has always prided itself on providing savvy counsel to clients - family offices, corporates, founders, public companies, and their boards.?

To get there, you have to be audacious, to be networked, to be confident and to be open-minded. You have to be willing to put yourself in a position to continue to learn, grow and transform—to acquire an increasingly broad array of knowledge across different functions, environments, and build that as your own intellectual 'Lego set' essentially.?

"It’s also important to build an active network that is diverse, proactive and managed as a pillar of one’s career, rather than a social network or a secondary asset. It really needs to be at the core. It’s essential to build that network, whether it's on LinkedIn or through traditional networking, to maximize your career long term."?

Lastly, always respect where you’ve been, those you’ve worked with, and stay in touch with them. Those relationships last a long time and can connect the dots for your career over many decades."

Follow R. Adam Smith on LinkedIn.

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Our next guest: Julia Pimsleur

I'm looking forward to our next guest, speaker, author, and founder of the Million Dollar Women Community Julia Pimsleur. I first met Julia some years back when she was giving a book talk, and we've kept in touch over the years as she's continued her mission of helping empower and support women entrepreneurs. With that in mind, here's what I'll be asking Julia:

• Can you tell us about your approach to building your career?
• Why do you think community and entrepreneurship are connected?
• What advice would you have for those who are looking to start their own entrepreneurial journey?

Have your own questions for Julia? Ask away in the comments below, and thank you for being a part of You've Got This.