| Looking back on all the private money deals I've | | | | raising private money, here are the questions you |
| done, I can't tell you how many times I thought that | | | | should be asking yourself: |
| I would have a "one-call close." You know, where the | | | | 1. What am I doing to generate private investor |
| potential investor calls you just after they have first | | | | leads? |
| learned about you, they're hot to invest money and | | | | --Internet, word of mouth, mail, etc. How I am |
| a check goes in the mail right to your door. I'm | | | | attracting people to my opportunity? |
| continually working for that "one-call close"...but it has | | | | 2. What am I doing once a lead comes in/how am I |
| thus far eluded me. I'm not happy about it, but, it's | | | | following up with leads? |
| something I'm striving for. | | | | --What kind of information am I giving them? How |
| A few days ago I was talking with a client and this | | | | frequently am I communicating with them? |
| subject came up. This person was wondering why he | | | | 3. How am I handling/sifting/sorting prospective |
| wasn't getting a flood of interested private investors | | | | investors in various stages of the decision process? |
| ready to throw money at him from his website. | | | | --Qualifying/setting meetings, phone appointments, |
| Going into the conversation more, I realized that the | | | | send PPM or prospectus, etc. |
| gentleman I was talking to had a lot of the private | | | | 4. What kind of follow-up marketing am I doing? |
| money game figured out. For instance, he was: | | | | --Once they invest, how am I pursuing additional |
| * Getting his message in front of people | | | | investment dollars from that individual and how am I |
| * Getting his message in front of the "right" people | | | | leveraging for referrals? |
| * Offering a competitive product | | | | Once you break getting private lenders down into |
| * Giving prospective investors a very good reason to | | | | the most simple elements, it becomes easier and |
| contact him (soon!) | | | | easier to get funding. The investor's decision making |
| Everything looked pretty good, until we started | | | | process works sort of like an assembly line. Most will |
| discussing how he was sequencing his marketing. Aha! | | | | see something that interests them. They will fit that |
| We stumbled upon a very critical - yet often | | | | interest to their goals and resources. They will then |
| overlooked - aspect of attracting private investors: | | | | want to learn more about that particular opportunity |
| the right marketing sequence. In any business, your | | | | and then begin the emotional/logical decision making |
| goal should be to have prospects contact you that | | | | process that leads them down the slide to placing |
| are pre-motivated, pre-disposed and pre-conditioned | | | | private money with you. |
| to do business with you. Therefore, with private | | | | Here are some more rules to live by: |
| money, you want to have prospective investors | | | | * If people don't know about your opportunity, how |
| contact you when they are pre-motivated, | | | | can you expect them to place funds with you? |
| pre-disposed and pre-conditioned to place funds. | | | | * If people don't know how your opportunity |
| No sweat, right? Not so fast! | | | | benefits them, how can you expect to get the |
| First, it's important to realize that marketing for | | | | money? |
| private money is not going to be a "one-step" | | | | * If people don't know why they should take |
| process (usually). It begins with lead generation, | | | | advantage of your opportunity right now, how can |
| continues with proper follow-up and ends (or doesn't | | | | you expect to get money quickly? |
| end, rather) with a continual stream of continuity | | | | Okay, that's a lot to digest for one day. More on this |
| marketing (whether they place funds with you or | | | | soon. Happy Investing! |
| not). To better help you, if you're serious about | | | | |