Hello, everyone! Today, I want to teach you how to do your first deal in 2023!
This is a special article and episode because it comes from the Fund Academy Mastermind Course only available at Fund Launch!
Basically, we’re about to go over some valuable content; so, keep reading!
(In)Experience
Your first deal can seem daunting, but it will become simpler by following these steps…
“But Bridger, before we get into that, you should know that I’m young, have no experience, didn’t go to an ivy league school, and don’t have any names in my network.”
Here’s what I said in my video in response to that…
“If you wait until you have the age, experience, and track record before you start a fund, you’ll probably be dead.”
No one feels ready to ask for and manage other peoples’ money. Imposter Syndrome is normal.
I was 22 when I started my first fund and I didn’t have experience, a prestigious school to leverage. Why would someone invest with me?
Unlike older fund managers, I had so much more time on my hands, and I didn’t have to change my college-budget lifestyle to make sacrifices for the fund!
Additionally, I was able to charge a 0% management fee – I wouldn’t make money until the investors did.
I asked them to give me a trial investment. I didn’t want all their money, I just wanted to show them that I could manage a fund well.
We raised $50K for my first fund, and $800K for my second!
How to Who
If you don’t have experience that you want, sometimes it’s better to ask, “Who do I need to partner with?” instead of “How do I get that experience?”
I don’t have Harvard experience or know much about the tech industry, so I partnered with Dan Young.
Hes’s great, the Harvard graduate has been on Intel’s Board of Advisors for 15 years and so much more.
I leverage his education and he leverages my fund experience.
A Single Deal
Remember, there is so much power in doing your first deal – whatever the size.
You don’t have to raise $10M on your first fund. Don’t get overwhelmed. Start small.
Play the long game!
Conclusion
How to do your first deal in 2023:
- Leverage your inexperience
- Find the “who” you can partner with
- Find your deal now and play the long game
2023 is your year! If you need help with any of this visit Fund Launch or watch my other videos!
That’s it for today!
Thanks,
Want to get direct guidance for your fund? Schedule a time with my Fund Advisors!
DISCLAIMER: This content is for educational and informational purposes only. It is not to be taken as tax, financial, or legal advice. You should always consult a legal professional before taking action. Furthermore, this is not a recommendation to buy or sell any security. The content is solely just the opinion of the author