What could we have done to get you to invest the $300K in the company vs buying the Lambo?
This is a 100% real question i had to ask one of our high net worth individuals after a client investor meeting.
Here is the context:
I had setup a meeting for our client with a high net worth individual who usually invests in real estate in Dubai. This investor owns 28 apartments and this is how he created and maintained most of his wealth.
So i asked him to try something new. I said this:
"What if the next investment is something unorthodox? What if the next investment is something that can return you 100x instead of 7% yield?"
It sounded interesting to him and he agreed to meet the founder.
The meeting went great. The founder is a top founder with experience from some of the world's largest investment banks and organizations. The investor met him for an hour and a half! almost double the time of a normal meeting!
But in the end of the meeting. They didn't close a deal and nothing happened.
The next day the same investor asked me to find him a Lambo for social media. He is not really a car guy but one of his companies relies on content creation and he thought adding a lambo would be a cool spin. So i found him a unique white on white lambo and we bought it for $300K.
So, i asked the investor this:
"I know you are not a car guy and you prefer to invest in things that bring returns. So what could we have done to get you to invest the $300K in the company vs buying the lambo?"
he said:
"Hmmm, probably if the founder had somewhere for me to pay at the end of the meeting. I would have just paid it. I liked him"
My mind was blown. I realised something that changed the way i do business for ever. And here it is:
Sometimes you need to believe that deals can be closed and not expect resistance.
Which just means that we should practice for obstacles but we shouldn't expect every deal to have 100s of Nos and 100s of rejections. Sometimes people do really need and want what we can offer and opportunity is waiting for us to grab it.
So next time you go out there to raise funds from investors. Make sure to be ready to close the deal. Don't expect that things don't go your way and be ready for success!
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