Table of Contents - #FreeFlowFriday: Attract Don’t Chase with Dave Dubeau
Welcome to Free-Flow Friday, powered by the Property Profits Real Estate podcast, I am Dave Debeau and I'm very excited to give you an over the shoulder learning experience around raising capital, as well as other tips, tricks and strategies to help you on your real estate investing journey. So let's start. Let's discover together. Hey, again, is Dave Tebow with another raising capital concept for you today and what we're going to talk about is the idea of attracting investors to us instead of chasing after them, because this is a big, big, big problem. I see a lot of new capital razors suffering from and even some older, more experienced coverages as well. Is it they're picking up the phone dialing for dollars or networking. They're schmoozing. They're doing all this old school, old fashioned sales type grunt work when it comes to raising capital. They're chasing after the capital late. It's kind of like the movie The Wolf of Wall Street, where you see the capital on the phone just grinding, people grinding through phone calls. And that's what it seems all about. And it's all about getting people convinced over the phone to invest in their shady deals. Well, you don't want to do that. You don't have to do that either. In fact, there's a way to actually attract people to you, people who are already pre educated, pre motivated, predisposed and prequalified to invest with you. And I tell you what, that conversation is a complete 180 from you chasing after somebody. If you've ever had any experience in sales, you know this to be the case. I know. I remember one of my several businesses that I've owned and operated over the years. I had a small advertising business and I got into that. And the guy that got me involved said, hey, these things are so great, these ads are so great, they'll sell themselves. That was a big fit. And I remember looking at what all of the other advertising sales guys were doing, sales people were doing, and they were basically going and cold calling, knocking on businesses and pitching their advertising. So I thought, OK, well, that's what you have to do. So I tried doing that. And I tell you what, I sucked at that. I really, really sucked at it. And I can remember vividly one day I just been turned down by a number of business owners because here's what would happen. I'd go walk into the business, they'd look up, they'd have a smile on their face. They'd be kind of they'd be happy because they thought I was a potential customer. And then that look of happiness would quickly turn to dismay when they realized that I was just another salesperson trying to sell them something. All right. And that was tough. That was a tough slog. And then I got a brilliant idea at a moment of clarity and I said, why don't I do something to get these people to come to me? So with that business, I put on a series a little what I called Business Builder Workshops, and we promoted this to local business owners and myself and a couple of other non-competing business guys got together and we did a presentation and we provided value. And then at the end of my presentation, I made an offer for my advertising and then guess what happened? Instead of me chasing after people, I got people coming up to me with their credit cards enhancing. Yes, I want one of your acts that was such a big, big shift for me as well. So fast forward a few years. I magically forgot all about that when I first started raising capital and I tried doing it the old way. So I tried dialing for dollars. I tried networking and schmoozing and turning every conversation into a realistic conversation. I tried spamming everybody I knew about my deals. All of that failed. All of that failed miserably for me. And I remember I had a really good deal on the go. I have to collapse. I deal. I wasn't able to close on it because I'd done all this supposedly stuff that you're supposed to do. And then that's when I when I stood back after the fog went away in my mind and I got over my hurt feelings were getting rejected. All that stuff, I, I went back and said, Dave, what are you doing? There's one thing that you're good at. It's marketing. Why don't you apply marketing to attracting investors and raising capital instead of chasing after it? So that's exactly what I did. That's how I came up with this whole five step money partner formula. But the big idea I want you to understand is that, yes, it is completely possible you can attract people to you. And the way to do that is through specifically targeting exactly who you want to focus on and then doing constant consistent communication, marketing and getting people to put up their hand and say, hey, you know what I'm interested in, tell me more. Because when they do that, then you're not having to sell them. You're not having to pitch them. You're having what I call a nice, pleasant, grown up conversation where you're showing them your deal and you're seeing if they're in or they're out, you're allowing them to make an educated decision. So here's the big idea. Stop. If you're doing this right now, stop chasing after the money and let's start focusing on how to attract. Investors and their capital instead, I'm proof in the pudding it can be done. I've worked with at this point hundreds and hundreds of real estate investors across North America and now in Australia and the UK as well. If it works for them, it'll work for you as well. And if you're interested in finding out more about this whole concept of attracting people instead of chasing after them, if you'd like to attract investors and their capital, then join me at one of my upcoming one day virtual workshops and find out all about that. Gravitated at Investor Attraction Workshop dot com or check on the link that might be up there, might be up there. I'm not sure which way it's going to show up. And I look forward to seeing you here. Take it. Well, hey there. Thanks for tuning into the Property Profits podcast, if you like this episode. That's great. Please go ahead and subscribe on iTunes. Give us a good review. That would be awesome. I appreciate that. And if you're looking to attract investors and raise capital for your deals, that may invite you to get a complimentary copy of my newest book right back there. There it is, the money partner formula. You get a PDF version at investor attraction book, dot com again, investor attraction book, dot com ticker.