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Dr Ro here. Hope you’re well on Tuesday.
I want to pick up the subject if you’re a business owner, if you’re a start-up which there’s going to be so many start off the back of Covid seriously.
Also if you are a property investor, then one of the areas that most people at that point in their business, property investors continue business owners potentially continuously depending on profits, but start up is definitely is raising money to get the business going and it’s a big subject. If I’m honest, it comes down to one simple thing, communication.
That’s all it comes down to. Raising money and communication are linked.
Even if you just need to raise a few thousand pounds for something for a lot of people the main block is not the external communication, but the internal communication. Think of it as having two elements to how you ask somebody for money.
The key thing here is if you’re thinking about talking to another person to raise money doesn’t matter how much it is, asking somebody for a pound you may feel comfortable with that. Asking someone for £10 you may feel comfortable with them, asking somebody for £50 starts to notice how the shift in your gut feels.
This internal communication is way more important at this stage than any external communication you have. Yes I’ve got a communicating impact system and without a shadow of a doubt, 110% if you follow that system it will enable you to raise money.
Not necessarily with your first angel or your second angel it’s a system and with a system it’s like anything just keep reapplying it. Keep reapplying it. What happens is you refine the system and you get to a point where you’re using that system money will start to come to you.
Some people have used it and they literally got it instantly. Others have done it, gotten some feedback and tweaked it. The CWI system 100% will work and we are working on it at the moment. Picture this scene. You need to borrow a pound from somebody, probably not an issue. £10 not a problem. £50, £100, £50,000. What is your pressure point?
What’s the point when your body starts to feel differently with the idea of asking another person for money and that’s the voice you need to listen to? I use this as the first point of contact with your negative belief system. A lot of people go I can raise okay so pick up the phone and call your mum to borrow £5. No problem. Ask her for £1,000 and there will be some point where it feels uncomfortable and the minute you can define what that point is what you need to do at this stage is make a note of what the conversation is you’re having with yourself.
What are the beliefs that are kicking up? My question is why do you feel uncomfortable? And you’ve got to answer that. It could be anyone. If you’re going out to a friend, angel because it’s the same thing if that tweak kicks in at £250 for the sake of argument it’s the same tweak that will kick in with an angel investor.
If we don’t nail this core element of the foundation, it’s not going to work over there. It will be to do with primarily your self-worth, two your belief system about money and number three your belief system about them. If you find yourself struggling at a certain point with any raising of money. Ask yourself the simple question I was going to borrow money from my brother at what point would it feel uncomfortable?
Could you borrow £1,000. I think so. Why are you hesitating now?
That’s the point I want to find out. That’s where the block kicks in. What is that block and that block typically will be to do with your primary beliefs about borrowing money from other people. Is it about security? How are you going to be perceived? How they’re going to communicate with you or what they might ask you? Is it about the lack of confidence? Is it your feeling that you are going to be humiliated by somebody?
When I built my property portfolio to start with, it was actually pretty tough. I went to my mum and my brother and when you’re asking your younger brother and you ask your mum and I’m the oldest in the family, there’s that little bit of feeling of shit what they will think about me, but the desire was greater, than that feeling of a block. That’s what you’ve got to do.
I think at this moment in time, a great exercise to do is find out where you start to feel the heat coming in. That’s where the rot starts, tackle that first and everything else follows. There’s a great opportunity right now in the marketplace I think for anyone looking to raise money with their angels because interest rates are ridiculously low. They’re going to stay low for a long time, that is my personal belief.
The average statistic at the moment the average person in this country has our £6,250 in the bank account and the average interest rate they’re making in their current account is .26%. That is ridiculous.
So what we know is that people are pissed off and they want it working for them, but you’ve got to find a way to get to that.
Ask yourself the question when it tweaks in what is the conversation having with yourself that makes you feel uncomfortable, and then we can address how to deal with that.
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