Are you looking for potential investors? Well first, you’ve got to make sure that you know what you’re doing. Make sure you’re doing the right thing, you have the right process, and you’re using the right vocabulary. Your goal is to turn skepticism into confidence. How do you do that? Listen in!
Today’s guest is Greg Centineo and he has been consulting with several startups. One single project alone was $122 million! He did that by bringing in the right people.
Here are the highlights of my conversation with Greg:
How to bring on investors without giving up control:
Investors Invest for Story
Investors invest based on the story behind the company. Who is the company? Why this company? What is the company doing? Ideas drive investors. If they like the idea and it matters in life and others like the idea then they will respond to that.
Investors Invest for Leadership
During interaction with potential investors, the CEO usually blows it during the process because they’re looking for leadership. You’re displaying leadership or non leadership just by spending time with the investors. They’re watching you! So it’s important the person is educated in what they’re doing and understands the pitfalls of raising money and avoids them.
Most Common Mistakes Businesses Make in Persuading Investors:
How do you show healthy risk?
Just be honest. Tell your current situation. Then show your strategy in how you can get that company out of it and how your money is going to help you do that. And who else do you have potentially coming in as an investor.
What you want is a skeptic investor. But a skeptic without information is ignorant. Ask you investors to take a look at the information and dialogue through it.
You’re not asking them to invest at that point. You’re simply educating them to eliminate ignorance. You make them knowledgeable. Then they can make an educated decision on what to do about it.
Never cease to educate them on the progress of your project or that person becomes ignorant again. So they go from being confident to being skeptic again. Take care of your investors and you’ll never get overwhelmed.
Chaos creates stability.
Greg’s Major Takeaway:
Whatever you’re doing, know it well. Know everything it is about what you’re doing. Be a consistent student of your product and your project. Everyone is an investor in the world we live in. Everybody is looking to make more money. The world is your audience. So everyone will listen to what you have to say.
Connect with Greg on his website www.GregCentineo.com and learn more about the great stuff he’s doing.
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Donald is the host of the popular sales podcast,"The Sales Evangelist". He is the founder of The Sales Evangelist Consulting Firm where he helps small companies develop killer sales process to scale their business and increase growth.Donald is also an award-winning speaker, sales trainer, and coach. He's a big fan of traveling, South Florida staycations and high-quality family time. Donald has a belief that “anyone” can sell if they have the desire and receives the proper training.