6 WAYS TO FIND INVESTMENT
 
CAPITAL FOR YOUR IDEA

EPISODE 155 of a Daily Dose of Greatness Quest with Trevor Crane

SUMMARY

How do you get people to invest in your business idea?

Today, I share the 6 WAYS TO FIND INVESTMENT CAPITAL FOR YOUR IDEA.

  1. You can get them through the loan SHARKS or the professional investors.
  2. You can get them through the DOLPHINS or traditional financial institutions like  banks.
  3. You can borrow from the FISH or people that you know, your friends and your family.
  4. You can SELL a portion of your company to investors, either the SHARKS, DOLPHINS or FISH.
  5. Look for CREDIT CARD companies that are willing to give you money on your  personal or business credit.
  6. HAVE YOUR CLIENTS FUND your project.. Nowadays, you can pre-sell anything. You can go out and sell your services, sell the result and collect the money first.

DAILY QUESTION

How do you get people to invest in your business idea?

DAILY QUOTE

“If you’re not willing to go ALL IN, why should anybody else?” – Robyn Crane

If you're not willing to go all in, why should anybody else?

DAILY CHALLENGE

Check out the book, ​Media Secrets ​ by Jess Todtfeld. Read it. Apply it. Review it.

HERE’S WHAT YOU SHOULD DO NEXT:

Get a FREE COPY of my book, HIGH PAYING CLIENTS at: trevorcrane.com/freebook

ABOUT TREVOR CRANE

Trevor Crane is best known for 2 bestselling books, High Paying Clients and Big Money With Your Book… without selling a single copy.

If you want to become IRRESISTIBLE to your ideal target client, and massively grow your leads sales and revenue, Trevor can help you craft a book that becomes your most powerful marketing tool, in 90-days or less. For details visit: EpicAuthor.com


TRANSCRIPT

How do you get people to fund your awesomeness? To invest in your awesomeness? And what I mean by that is, how do you get them to invest in your  business idea?
  
You want to launch something, you know, you need some capital, whether it’s 100  bucks, or 100,000 or 100 million, where are you going to find your money? 
 
That’s the subject of today’s show. We’ve got five places that you can look at.  People find your great idea, i.e. your awesomeness. 

(INTRO – AUDIO) 

Okay, so I’ve been doing this for a long time, as far as been in business of one of  the things that one of the challenges I’ve had in life, or one of the challenges I have not  had is to take action on an idea to start a business. 

When I was four years old, I started a business. And I don’t think that’s an  exaggeration. I mean, I didn’t go get an LLC or anything, but my dad inspired me by  saying, Trevor, I’m going to be gone for a couple of weeks. You’re the man of the house  now and you got to take care of your family. I just thought that that was important  enough that I should actually do it.  

And so that day I started a business and I started the business that didn’t need any  capital. So we’re going to talk about some strategies you can go ahead and use if you  don’t want to use can find you need capital we’re going to one of the strategies and to  share with that with you what I did is I grabbed rocks from my yard and I tried to sell  them to the neighbor like I like drop. 

So I figured that my neighbor would like them to and I created something that day  and as an entrepreneur that most people spend their a lot of time searching for number  fine and that is a profit a day assuming that I sold a rock and to my recollection, I did you  know, I, I took a rock from my yard, I sold it to the neighbor for a quarter or $1, I made a  profit.  

So let’s go ahead and get into the ways that you can find money for your deals.  And I’m going to tell you some personal stories about each of these, but one of them was  kind of cool. It’s the one that you might think of like finding investors in you. And so you  might call these going after, like professional investors, you’re going after people, you  might call them​ sharks​.

So there’s obviously caught the, the show called Shark Tank. And you have an idea  that there’s people there that have a lot of money. And there’s not just Shark Tank, by the  way, although that’s really cool. One of my neighbors actually went to shark tank and  pitch their idea and then got accepted by shark and partnered with them and then made  a made much it was a it was a phenomenal plan for them.  

But the challenge with sharks is they’re going to look at you they’re going to look  at your business and they’re going to go ahead and say, you know, what do you have now  if you have not already launched your business you’re not already started it you’re not  already creating a profit. Good luck getting somebody to bet on you. 
 
Like I have a lot of people coming to me from time to time and they asked me to  invest in their deal and when it comes down to it I I need to know that I don’t want to  invest my money in anything except a sure thing. So what I’m looking for and what  sharks are looking for is they’re looking for your business acumen. 

Like imagine if you were gonna bet on a horse like in you’re going to get a horse  race like if I’m going to put my money down on a horse racing was going to be random  and just go pick the skinny horse that has never raced before and that’s what I’m going to  put all my money is just like on the gambling track, or what do I want to go ahead and  put my money on the horse that wins all the damn time. 

Both of those are gambling and I don’t know that’s the greatest example here but  when the challenge when you go to a an investor it is that it is a gamble. Actually, when  you’re asking somebody for money for your thing. You know, the the world could not go  in your favor. A lot of ideas never pan out.  

So you’ve got to make sure you understand that investors like sharks are going to  want to take a big share of the business so even if you do have a great plan they’re gonna  look at your track record and say okay, have you had successful businesses businesses in  the past you’re having a habit of creating multi million dollar billion dollar businesses.

It’s probably not going to be hard to find a shark, the challenges shark who comes  in is going to want to keep most of the kill. They’re going to want a big chunk of your  business.  

So this isn’t always the best place to go. Although it can be like I shared with you,  my friend, my next door neighbor, when they own honeyfund, others be straight up  about what the company is, and they went to Shark Tank.  

And you can go ahead and probably do some YouTube research or whatnot and  find the episode of other was pretty cool. They got a big deal. And they made a deal with  Huffington Post. They did this co promotion, they have just scaled their business and  grown and grown and grown all from the relationship that they got when they got a  shark investor.  

And the biggest thing that they got from the shark investor wasn’t just his money,  but it was his business acumen. And just recently they did a big partnership with target  so actually if you are getting married or know someone getting married, and they are  you know going to register at Target department store. 

And then you will be prompted on there if somebody wants to as a bridal registry  to have people invest in their honeymoon and it you it’s it’s linked directly with honey  fund so what the first place that you can find money or sharks.

The second place are called, I called ​dolphins​. And another like a new mentor of  mine actually gave me these names and I thought they were cute so I’m going to keep  using them. And dolphins are basically your traditional financial institutions like banks.  And the nice thing about that is you go to the bank to find money and they can loan you  money. I’ve gotten money from banks a few different times. 

But it seems the banks, the challenge with banks is that they definitely again,  they’re not going to just gamble their money on just anything and banks tend to only  loan you money when you don’t need it. Like the few times in my life that I actually  borrowed money from a bank. It was when I had plenty of money and then they were  begging to borrow money for loans money so it’s always been crazy like that. I don’t  know why that’s the case.  

And you might think that banks are all happy Pappy and it’s nicer than the shark because sharks are mean and dolphins are not and that’s not the case at all. It’s just you  know a dolphin can still bite you in each you and kill you and whatnot I think dolphins  kill like killer whales so you know the the don’t be mistaken banks are not happy, happy  fluffy little bunnies they are here to make a profit as well and they can be very cutthroat  about that.  

So the challenge with going to a bank you know to the dolphins is that you again  you just got to have a really good pitch. If you don’t have a really good business plan and  history you’re going to have a challenge.  

So the third place and this might be for where a lot of you make this happen. And  this is the first place that I went to when I was borrowing money is for my ideas is I call  them ​fish ​and fish or people that you know they’re your friends and your family. They’re  the people that are going to love you and in and decide to invest in you because they  believe in you or they’re just frickin crossing their fingers hopeful that finally you’re  really nearly crazy idea is going to work out.
 
So I’ve done this a lot my life I borrowed when I first started my first stub  watersports business I bought a pair sailboat and that was like almost $80,000 we needed  to truck we needed some insurance we needed to buy all kinds of stuff I took all my  money and I borrowed some money from friends and some from family and an uncle  and things like that.  

Now they either ask for very low interest or no interest and they there was almost  no collateral like in these situations. It was just like a little written agreement and then I  brought the money and I paid him back. Also in college, I borrowed money from my  mom because I wanted the launch of business I called campus vision. And we create this  really created this really cool campus calendar and whatnot.  

And it took me a while to pay my mom back. It took me a while to pay back these  loans. But I did and that was really cool. I actually helped a friend of mine.  

There’s another version of this and I would call us another number in my five that  I just want you to think of this, you have the option to sell part of your business at the  very beginning, like a friend of mine came to me and he he just grabbed like a quarter of  a million dollars from investors in the business and he borrowed it and he promised to  pay it back.  

And what happened is his business idea flop. So he wasted all the money or spent  all the money and he had nothing left over zero nothing. And so then he came to me and  he’s like, dude, I got a new plan. I’m going to borrow money again this summer, I’m going  to get a half a million dollars and start a new business. It’s going to be about this.  

And I said, Okay, dude, you totally can do that. But what if you find instead of just  people to borrow money from what have you made them investors in your business, so  you don’t actually have to pay them the money back that they’re buying equity in your  company. And this was a really cool strategy for him.  

And he went out and to be honest, most of his investors were fish. They weren’t  really professional investors. They were just friends and family and friends. Isn’t people  that knew him and they believed in him and his passion is what sold this. He actually  shared with me his business plan and I and we got in.  

I was trying to help him write his proposal and write the whole thing was very  confusing. I was I didn’t think it was a good pitch. And so I just stopped. I stopped the  madness. I was like, dude, hold on, you raise quarter million dollars last time just  because of your passion. Why don’t you do the same thing here and it really doesn’t  matter what you have in a piece of paper. Nobody cared anyway.  

These people gave you money because they believed in you. Go after the fish and  and instead of borrowing the money and paying back sell them 10% of your business or  5% of your company. And the very beginning it was the coolest decision he ever made  because he went out and got to half a million dollars I can a month he’s freaking  amazing, this guy. 

And then guess what? The next day he could pay himself a salary out of that 500  grand he got because that was now seed capital to start his next company. It was not  money that he now owed and had to pay back. In fact that deserves a whole number. 

I said there’s five ways to go ahead and generate money for your business or  capital for your idea and that’s a really cool one at selling a portion of your company to  investors and you don’t have to go to banks although you can you don’t have to go to  sharks other you can you can also go to your fish and that’s a really cool way to come up  with money.  

Okay, so let me give you the next two because I think these are really key. This  one is a strategy I think is really awesome. I use it in college after I graduated college for  the first time in my life that the bank’s started sending the ​credit cards​ like Trevor we  want to give you a credit cards. I got like my first credit card out of college and then they  gave me another one. They gave me another one, they gave me another one.  

So what you can do and I have several people that are in my organization like if  someone wants to invest in what I do and in something that they want to get their book  down if they want some coaching and mentoring help if they’re launching a business  that oftentimes help people and have a financial option. 

In one of those financing options is I’ve got a friend and a business that I work  with and they actually fund like up to 50 to $100,000 on nothing but a good business plan  in like decent credit you can have shitty credit you gotta have some decent credit but he  works with you on figuring that out. 

And it’s been a phenomenal resource because he goes out and he finds all of the  credit card companies that can loan you money that are willing to loan you money on  your on your on your business plan on on your personal credit on a variety of different  things. And this is scary but I’ve done this time and time and time again.  

I’ve oftentimes had to fund a business if my cash flow wasn’t good. I’m not telling  you that this is the way to do it but I am telling you it’s a place I found money I had all  these credit cards that I was able to find and negotiate the right rates and whatnot. 

And it’s a really cool. It can be very complicated and hard to do and hard to get  good rates and hard to qualify and make it work with your credit so I’ve got a company  actually does this for me with myself. clients with Wi Fi find some funding to go ahead  and launch their venture to not just pay for myself but to pay for all the marketing and  extra things that they’re going to need in their business to launch. 

It’s a phenomenal strategy if you’ve never used it before it’s a place that you can  go ahead and find money and if you’re thinking well I don’t know if I want to use credit  cards that would be I don’t know if I trust myself I don’t know if that’s appropriate you  know I don’t know if I’m if I if it gets too risky honestly like okay I get it like you don’t  necessarily want to go in debt. 

I love using other people’s money and so his purse or credit cards but if you’re not  willing to invest in you Why should your why should the fish the dolphins are the sharks  and I this I think separates the men from the from the the boys at some stage the ladies  from the from the little girls are just talking about stuff is like, if you’re not willing to go into debt, why should anybody else? If you’re not willing to risk it all, why would  anybody else? 

So this is really important thing if you’re looking to borrow money for your idea,  like how old are you? When I went to my fish, I went all in, I invested everything. I took  everything I had to go in. So when I went to my friends and family, and the people that  cared about me, believed in me, they didn’t necessarily believe in in business idea. They  believed in me. 

I can’t tell you how many times that people give me 10, 50 hundred thousand  dollars to God and fun things. I know people that will loan a million bucks on nothing but  a word in idea and a hope and a prayer on the love that they have for someone. So don’t  don’t discount. This is a viable option. But you gotta make sure that you’re all in and  you’re not just stealing from somebody. 

That you’re not just if you’re not all laying man. Don’t ask for money in the first  place. Okay, let me give you the fifth 161. I can’t remember which one run it because I  changed the numbers. It’s called the sixth one. The sixth way that you can go ahead and  get money and this is one of my favorites.
  
This is my new favorite. I’ve been doing this for a while.couple of decades or at  least a decade, my favorite place to find money, wait for your new idea. And to fund your  awesomeness is from ​your clients​. And this is a great place to be like the world that we  live in these days, you can actually pre sell just about anything.  

You can go out and sell your services, sell the result, collect the money first, uh,  my wife has a client and their names are faith, faith and hope. And they’re architects and  you might be thinking, well, I can’t take the money up front. I you know, we were  supposed to be paid after we do the work well, who creates those rules, you know, you  can go in as a marketer, you can go out and sell your marketing services and you take a  fee, take $1,000, take $10,000, whatever it is, I mean. 

Now you can go do the work. You can go buy breakfast, you can go buy all the things that you need to go do like ads and run it do all the hard work and whatever it is,  but you accept the money up front. Like right now. I don’t work with any client at any  stage unless they pay me up front you pay for the services that I show up, you pay for the  doctor, then you show up and you’re thinking, well, in my industry, you know, I’m a doctor, I’m a chiropractor. I have to do it first. And then I get paid.  

Okay, fine. You can choose that belief. And then this will work for you. Or you can  do what my friends faith and hope did is they worked with my wife, they hired her to  help them in her business. And my wife asked them about her better building your  building. And she they decided to start taking their money upfront. They got paid up  front for their blueprint that they would do for someone’s house.  

And that’s the most beautiful thing in the world. Because now they are incentivized at the very beginning to do their best. Not that they weren’t doing their best  before, but now they’re not broke for weeks or months while they do the work. And so  you don’t have to go out and borrow money.  

Oftentimes the best place for you to prove your concept is with people who pay  and by the way, if you collect new clients and they buy your new course they buy new  programs. buy your book. I use this in strategies for my clients around promoting their books.  

We start talking about their books promote their products and services behind  that sell some of that stuff. They make a whole bunch of money and now they gotten paid  to write their book. Like it’s completely that ass to get your investment capital from your clients who already believe in you.  

And if you’re thinking, well, I don’t know how to do that, and I can’t do that, then  you need help. You know, we all need help with stuff you’ve never done before. And you  can figure it out yourself, which is trial and error and crashing and hurting yourself and  skin and your knees if you’re trying to ride a bike for the first time.  

But that’s not what happened. I was trying to train my daughter to ride a bike and  I gave her instruction and coaching and help and support and I and I ran beside the bike  for a long time. And I told her what to do and what not to do and where to hold her eyes  and how to balance and whatnot.  

And within a day, like one or two lessons she was being riding that bike and then yes, she fell eventually. And I wasn’t there to catch her at some stage, but we don’t talk  about that as well. So when it happened, she was able to pick herself back up and jump  on that bike.  

And we’ve already talked about the potential failure that could come up in fact it  was guaranteed so when you work with someone to help you through this you don’t have  to go it alone that’s my first and always my best advice is to find someone to give you  some help and not just help he’ll give me money I’ll give you money but like help you do  these things and implement them. 

I work with my clients and giving them strategies to get paid and and in the  finance their ideas with making sales when I cleansing just top felt that this and we were  launching his new book and he was all excited about it because the book was finally  coming out and he was working on finishing the book and I said, Dude, you need to stop  working on the book and you need to go back to my instruction. 

I gave you the very first and and and go to some do some marketing tell people  that the book is coming out and then make some sales and he said, Well, dude, if I make a  sale is going to distract me. I’m like, dude, you gotta make some sales.  

Like how about this? How about we stop working on your book and we pre sell it  and you become a number one bestseller before it’s written?. Let’s do do that before you  finish it. He’s like, dude, I don’t know. He’s all scared. We did it. By the way, he did it in  24 hours. We ran his number one campaign.  

And then we went ahead and while he was running with his number one  campaign for his book, and he became a bestseller. He stated bestseller for like 60 or 90  days in a row. And, and it was this really positive experience. He didn’t make hardly any  money because it was just the book or I knew he wouldn’t make money from that book  sales.  

The book is only like, $1. Let’s say you sold 1000 books. Great. That’s $1,000. That’s  like, not much, right? That’s kind of sucks. It’s good. I wouldn’t throw $1,000 away but it’s  not. It’s not much. So what we did is we had him sell a course he goes, Trevor, I’m not. Of  course. I can’t sell a course on a time to make a course.  

And like don’t you don’t have time to make it Why don’t we pre sell it? He’s like,  holy shit. You want me to pre sell a book and then on the back of that pre sell a course your friggin crazy. I’m like, dude, I’m helped most of my clients get more speaking gigs.  Get me to Yeah Do new marketing whether it’s free marketing or paid advertising I hope  you lunch courses launch programs launched new coaching consulting thing like we’d  let’s just do this just follow my frickin instruction. 

And he’s a friend of mine so I had to actually sat them around a little bit because  he wasn’t ready to listen at first it go Don’t stop stop working on your book and like just  do this pre sell this he went out and he may I think he sold 45 pre sales of his course that  he now sells for $22,000 over $2,000 I think he gave a discount speak only paid like 100,  200, 300 bucks because depending on what porn point of the process they bought,  because it got more expensive as things move forward.  

But how cool is that within the first 30 days of his book launch didn’t pre sold he pre sold 45 people if my numbers are right into his brand new course that he hadn’t created either he wrote a book he sold a book he didn’t have any sort of course he didn’t  have yet created. 

And then that course he did create over the next five six weeks with his clients  online and he didn’t lie to him he didn’t say this is already created he goes I’m going to  create this every week from you when we get a time I’m gonna ask you a bunch of  questions I’m going to do this with you as we go along it’s a five it’s a six week course  whatever it is it’s going to be phenomenal. 

I’m going to coach you I’m gonna throw in this bonus and that bonus it’s going to  be epic and I’m eventually going to sell this for two $3,000 but you guys are getting in for  x 1234 or $500 whatever it is and you won’t find out about that you got immediate secrets  hold on media secret No That one’s called ​mediasecretsbook.com​. Go to  mediasecretsbook.com​.

That’s my challenge for you guys. Do that because I didn’t know what my  challenge is going to be for you until this very second. If you made it this far and you’re  waiting for the challenge, go check out Jess Todtfeld’s book, Media Secrets book that  mediasecretsbook.com​ you will see he’s still as a link for you to go ahead and get his  book and potentially get his course or program whatever he’s now charging for it and  you should stupid up he is a freakin genius.  

We have a little private program that we teach inside of our epic author publishing piece and we give away as a bonus to all of our clients that guarantees they  will get booked on media and PR guaranteed that’s the program that people that join our  epic either mentoring ox using your epic author accelerator program we’ve changed the  name just recently it’s not called the epic author accelerator and what that one of the  things that get is mentoring.
 
The other thing they get is this get booked and it’s all media secrets tip media  secrets for authors and getting media and getting press and getting PR is guaranteed if  people come in through our program alright so my challenge for you today is go get this  book. 

Check out his funnel because what he did and by the way, the way the funnel  hacks somebody to buy their stuff this is the ethical way to look at what they’re doing  and then model it and you can you can rip it off the rip it off in an ethical way where you  modeling you model the color the field the look and style of the thing and then you make  it yours. You’re going to sell marshmallows or whatever you’re going to sell and be  different. But you can do that. 
 
And you should check out Jess Todtfeld. He’s an amazing guy. He teaches a lot of  different stuff. And if you’ve ever wanted to get on Good Morning America, or like any  media, TV, radio and print or whatnot, he has some amazing programs and you can be  introduced to him if you join our epic author Academy or epic author accelerator.  

You can just reach out to me or find them on social media. Find me you have any  questions about media, I didn’t have any cross promoting just Todd felt today. But he is  an awesome dude. And that was the story I wrapped up with today. So that’s it. Those are  six ways to go ahead and raise money for one of your new ideas. And hopefully you  found that valuable. 

If you’d like to leave any comments or questions, please do so. Wherever you’re  listening to this if you’re listening to it on YouTube, sometimes we post our podcast there  and just put the audio there we have comments on Instagram on Instagram as well and  Facebook and just please comment, ask questions. 

And it’s really valuable for us so that we get some feedback if there’s any other  content that you’d like for me to put out I can go ahead and do that and if you haven’t yet  reviewed us or subscribed on whatever channel you’re listening to this on, please do and please share this with someone else that you know love and care about.  

I’ll see you tomorrow on another daily dose of greatness quest. 

To get even more awesomeness, which means all my best stuff, download my app by texting ​Trevor​ to ​36260​. It will show up right on your cell phone.

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