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***the 4 second power pitch***
THE FACT FRAMEWORK
No one likes asking for money. I don’t even like asking for money. And you might think that’s just something you have to do if you want to fund more deals using private money. But you’re wrong!
I’ve been using my FACT Framework since I started my investing business and it’s a total game changer – in FACT (ha! See what I did there?), you’ll never feel like you’re asking for money again.
FACT stands for Foundation, Action, Credibility, Transactions. I’ve outlined each step of the process below.
1. Foundation
First things first: let’s make this mindset shift:
Instead of feeling bad “asking people for money,” retrain yourself! You’re not asking for anything – instead, you’re presenting others with an opportunity to invest!
Once you’ve done this, you can start thinking about all the potential investors in your network, and develop your pitch. Here’s how:
When you’re creating your “networking mind map,” get creative and think outside the box!
Create a list of ALL the names in your inner and outer circle – all the people you encounter in life. People at church, at your kid’s school, at community meetings, regulars on your commute, anyone. If you want this list to include friends and family, it can… but it doesn’t have to!
Next, it’s time to perfect your 20 Second Power Pitch so you can speak to all these people on your list with confidence!
Once you create your own 20 Second Power Pitch, you’re going to practice it over and over and over to make sure you are confident, and that you don’t sound like a robot. Now, this will be your answer to that age old question…
“What do you do for a living?” Your answer is your 20 Second power Pitch.
That’s it! That’s all you have to do to build your foundation. Start a note in your phone right now for your networking mind map and add to it as you think of people throughout the next few days.
2. Action
Step 2 starts with another mindset shift. So many investors think “I can’t raise private money because I don’t know anyone with money”… STOP.
You can! Instead, retrain yourself to think “I CAN raise private money because I have steps, I have a system and I know how to identify private money lenders.” You’ve got this!
Once you have shifted your mindset and laid your foundation, it’s time to start creatively and strategically networking – this is your action step!
I teach the 1x4x30 method, and it’s how I built a full network of active and eager Private Money Lenders. Here’s how you can do it:
Choose one day each week that you are going to pre-schedule four 30 minute meetings with prospective private money lenders. Say it’s Thursday.
Then, you’ll spend the rest of the week strategically networking to fill those 30 minute appointments. Start with all those people on your networking mind map list!
Find people on social media, reach out to people of influence, your church community, coworkers, people you meet at networking events…
When you reach out, it’s time to let your 20 Second Power Pitch shine! Spark their interest with your pitch so that when you get to your 30 minute meeting, they know what they are there to talk about.
I’ve been using my FACT Framework since I started my investing business and it’s a total game changer – in FACT (ha! See what I did there?), you’ll never feel like you’re asking for money again.
FACT stands for Foundation, Action, Credibility, Transactions. I’ve outlined each step of the process below.
3. Credibility
After your first week of taking action, you should have some meetings set up with potential private money lenders to share a little more about what you do and what you can offer them.
But before you walk into your first meeting, it’s time for one more mindset shift.
So many people think and have been told that they can’t get 100% funding because they need skin in the game – that’s simply not true! So instead, make this shift and walk into your meetings knowing that you CAN raise private money because you know how to protect, secure and insure your investors.
During your credibility meeting, you will explain what that means!
It’s important to keep in mind that credibility is built over multiple meetings. And you’ll share just one credibility piece each meeting.
So what are some pieces that you can use to build credibility, especially when you are just starting out?
Do you have a property analysis template? Share the template and your numbers openly!
Do you have rock solid contracts? Share them!
Do you have an online presence (If not, you must create one!), a list of FAQs and answers (my 4 page document proactively covers about 98% of investor questions!), a Private Money Power Packet, or a private money presentation?
These are all solid pieces of assurance to your prospective PMLs that you are credible.
Once you create your own 20 Second Power Pitch, you’re going to practice it over and over and over to make sure you are confident, and that you don’t sound like a robot. Now, this will be your answer to that age old question…
“What do you do for a living?” Your answer is your 20 Second power Pitch.
That’s it! That’s all you have to do to build your foundation. Start a note in your phone right now for your networking mind map and add to it as you think of people throughout the next few days.
4. Transactions
As you work the system, you will start to see results.
You’ll make more and more connections as you set meetings, meet new people and get creative about who you see as a prospective PML in your day to day life.
You’ll start to build real credibility as you meet with your network.
And when you are consistent about the work you put in to the FACT framework, transactions will start to roll in!
I’m not here to tell you that it will be a walk in the park, or that it will happen overnight. This framework only works as hard as you do.
But I will tell you that transactions build on each other and you’ll start to build more credibility, get repeat lenders and start building up to being able to raise unlimited capital for your projects.
This framework is what I used to build a network of private money lenders so deep that I rarely have to ask for money outside of that network anymore.
I’ve built relationships and proven my credibility time and time again.
You can do the same.
Want a little extra guidance and hand-holding along the way to building out your network and securing private money?
That’s what I’m here for and that’s why I created the Raising Private Money Masterclass 🙂
