There is an unbelievable amount of money in the world. Trillions. More than you can imagine.
There are two parts to getting the money you want for an investment opportunity you find or create:
- You need to develop your competence and confidence. And,
- You need to be able to offer what money wants
First, you need competence and confidence. Moving forward with an investment opportunity is a risky decision. Money can be made but money can be lost very quickly.
Competence means you know what you are doing. You know the major risks and the primary opportunities inside and out. You have a plan AND you have multiple backup plans should things go sideways or change. NOTE: things almost always change.
You know the tools available to you. You know the stakeholders and the clients. You know the rules of the game you’re playing.
Competence is gained prinarily through experience. On the job training so to speak. It can also be borrowed from others in the form of coaching or mentors. This is the best way to gain it quickly.
You can gain competence by reading, studying, and researching, but nothing beats actually steering the ship through a project or endeavor and seeing the results of the voyage unfold.
The more competent you are, the more often and consistently you will make winning moves and decisions.
Right along competence is confidence.
Without confidence, it doesn’t matter how competent you are. I’ve seen many people stuck in analysis paralysis mode. This is due to lack of confidence that they’ll make the right decision. When you can’t make a decision, nothing can happen. No value can be created.
You need confidence that you can get the job done. That you are making the best decision that you possibly can at this moment in time. You need the confidence that once you begin moving forward, you can and you will maintain control of the ship and be ready to adjust course if needed.
There are going to be rough waters. You never know exactly when, but people want to do business with people who are confident that they can and will get the job done despite what obstacles are thrown at them. They want to know that person will not quit until the job is done.
Next, for someone to give you the money you desire, you have to be ready to offer what money wants for the use of that money.
Money typically desires two main things in return for its use:
The first thing money wants is a return on the investment (ROI).
Typically, the more risky the opportunity is, the higher ROI will be requested by the money. You need to be ready, willing, and able to offer a fair ROI in return for the use of the funds. This means you either have or you negotiate the means and times by which you will deliver this return to the money source.
The second thing money desires is Collateral.
Collateral is something real that can be pledged to the money source should for some reason you not be able to full fill your commitments and default on your promises. The money source would then be given the collateral and now have the right to take possession of whatever that collateral is should you default on any terms of your agreement with the lender. (this is what the bank takes in return for its: a first position deed of trust)
Collateral is essentially money’s way of always making sure it gets its money back. NOTE: whenever possible, make sure your money comes back!
Often times, real collateral may not be available to pledge to the money source. In these cases, higher ROIs might be negotiated, or ownership stakes may be given to the money source in return for the added risk.
In summary, if you want money to pursue something you deem an opportunity:
- Start with your skills. Work on your competence in your field of expertise as well as your confidence in your decision making and follow through. Second,
- Be ready, willing, and able to proactively offer to money that which money wants. A great return as well as security that it is either going to be paid back, or well accommodated for added risks.
If you can do just these things, there’s an extremely high likelihood you can obtain the money you desire.
The last step is simple: Go ask for it, competently and confidently!
No elevator to success . Everybody has to take the stairs . Make as much as possible and retain as much as possible all the while educating yourself
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