Wayne’s Daily Words of Wisdom Archive

You can get Wayne’s Daily Words of Wisdom on Twitter, and get an expanded view on the thoughts here.  Class has begun!

Two ears, one mouth.  I've never closed a deal while talking, only while listening.  It's all about meeting someone's needs.  Listen.  -- 4/12/9

I’ve never sought to ‘sell’ anyone anything.  Rather, I want to assess their needs, find out what can help them meet their goals, and make them aware of what I have to offer.  I’ve regularly turned away investors if I feel it isn’t a fit, and it is only by listening to them that I can understand what their needs and goals are.  I watch others try a ‘hard-sell’ approach, and see that most people don’t want to be ‘sold’ – it can be a turn-off.  Let the investor state their objectives, and then present your opportunity – if it’s right, it will work out the way it should.  Listening is the key.

Ever see a pro-forma that says "We're going to lose money, and go bk."?  They ALWAYS make sense.  Think about that.  -- 4/11/9

Me either.  And my point is that just as investors should and do question the input, comparables and general cohesion of a proforma, you should be doing the same.  While you, as a creative left-brainer, may not have the experience and acumen for such review, that doesn’t let you off the hook.  You need to surround yourself with people who can fill-in your weaknesses.  This not only makes for a better plan, but shows the investor that you’ve covered the bases.  T/he more you can overcome any objections immediately when they come up – or even before they do – the greater confidence you will inspire for an investor to place money with you.

If you ask someone to invest, you better have passion, confidence AND a bulletproof plan.  If you don't, you're just running laps.  -- 4/10/9

The leading, ‘come to Jesus’-type question you should always ask yourself is “Presuming I am the type of investor I would like to have on my team, would I invest with this person?”.  Investors don’t just invest on a Project, they invest on a PERSON, and that person – you – need to have passion, confidence, competence and a bullet-proof plan.  They want to know that when you hit a rough patch you will get through it, and handle hurdles and their money like a winner.  They want to know that you will communicate with frequency, transparency and professionalism.  If you can’t do that, you need to re-think your plan.