Hey, everyone! Today, this blog will be written from a podcast I did recently: Sell Yourself and Raise Capital.
I’ve chosen to talk about a few concepts on raising capital that you might’ve heard before.
Many people have requested unique information on this podcast, so I want to share a business gem with you all.
4 Types of Leverage in Business
Any of these levers will allow you to do so much more for yourself than you could on your own.
Capital is the most helpful of all because the more you have of it, the more you can use the other levers.
Raising capital is very similar to sales.
Ed Mylett pointed out that in sales, it is widely accepted that you have to be very convincing and persuasive.
However, he said, the salesman shouldn’t try to convince the potential buyer of anything.
The salesman should convince the buyer that the salesman themself is sold on the product.
Have you ever met someone that is so sold on something that you start to be convinced yourself?
I’ve heard over 1,000 pitches from capital raisers. I’ve heard some great ones and some awful ones.
Some have come to me with an attitude of, “You wouldn’t want to invest with me, would you?”
This is terrible! No one will invest with someone with low confidence.
How can you build confidence? Practice!
Learn about who you are pitching. Practice what you will say to them. Anticipate the many different answers or questions they could give you.
If you show up unprepared, you will have low confidence and a low success rate.
Crocodile brain is the fight or flight instinct that all people, including potential investors, have.
They start thinking of all the bad things that could happen if they invested with you.
You need to strategically work through that with them by making them comfortable, giving them a good hook, etc.
The goal is to get them to the mindset/brain where they’re not scared anymore and will make a rational decision.
There’s a few unique takes on how to sell yourself and raise capital.
Before you jump on that zoom call or drive to that office, make sure you come in at the right angle, practice, and break through that crocodile brain!
Thanks for reading!
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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