Table of Contents - #FreeFlowFriday: Overcoming the Fear of Rejection with Dave Dubeau
Welcome to Free-Flow Friday, powered by the Property Profits Real Estate podcast, I am Dave Dibble 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. And it really paralyzes us when it comes to raising money. And it's the biggest bottleneck that gets in our way and gets in the way of otherwise really, really smart, talented, forthright, great real estate entrepreneurs. And it's it's this issue of the fear of rejection. When it makes sense, nobody likes to be rejected. I think it probably somewhere in the back of our heads just takes us all back to our playground days when we were little kids and something happened and everybody pointed at us and laughed. That's probably happened to everybody one way or the other. And that just kind of sunk in that social shame, that rejection, that just that fear of of having something like that happened again, sticks with us to this very day. Could be 40, 50, 60 years later. We're still controlled by this fear. And that's normal. I mean, most of us have this fear of rejection, but it holds us back from so much. Right. We're worried about what if they say no or what if they laugh at me or what if they think I'm a complete doofus and they tell all their friends and family what an idiot I am or what do they slam the door on my face or hang up violently? The phone bilingually on what? What if this ruins a good friendship? Right. So it's crazy how much of this stuff bubbles up in our head. I remember personally, little aside, bigger indulgence here. But years ago and James and Jim Sergel, you remember this? You know, I'm talking about years ago I signed on with a fellow and became a licensee of a little advertising business called Doorknob Ads. And this guy sold me on the fact that, hey, these ads sell themselves. Right? They're new. They're different. Nobody's seen them. You just basically need to show this to a business owner and the ads will sell themselves. That's all you have to do. Little did I know that this guy had only sold like two ads himself. And those were two of his own buddies. He'd never actually gone out pounding the pavement, selling his own damn ads. So I took him out at his word, went out, started trying to schlep these ads and quickly found out the guy was fibbing. It was that's not how it worked. I'd walk into businesses they'd be thrilled to to see what they thought was a potential customer coming in the door. That look of thrilled anticipation would quickly turn into remorse when they realized that's just another sales guy right there. I'd be like, oh, shit, another sales guy. Yeah. So then I do my little if I could, I try to do my little song and dance and vast majority of the time I get shown the door right. It got so bad. I got to the point where I can vividly remember sitting in my vehicle white knuckling the steering wheel, petrified of having to get out and get rejected that way again. And that's kind of that's kind of what we think of when it comes to sales. That's kind of what we think of a lot of the time when it comes to finding investors and raising money. It's almost like we're we're thinking we're going to be like the Electrolux vacuum cleaner salesman trying to stick the foot in the door to get a word in edgewise. Well, that sucks so bad that I just couldn't do it anymore. I suck at it. I couldn't do any more. Luckily, I pulled my head out of my You-Know-What and got kind of focused. And I realized that I could apply marketing to what I was doing and get people to come to me kind of interested in what I had instead of me having to push it on them. And that that made a complete difference with not only that business, but every business I've ever been in. And once once I got into once I clued in to using other people's money for my own real estate deals and realized that there's lots of investors out there. I said, hey, why don't I apply this whole marketing idea to attracting investors, raising capital? Right. So it works just as well. And, you know, you could do it the old way. You could be picking up the phone dialing for dollars, cold calling. You could do the old turn every conversation into a real estate conversation. You can try your hand at having a really slick elevator pitch to tell anybody that will listen to you. You can spam people with your deals done. Tried that as well. Tried all of that as well. And bottom line, you're going to get a massive amount of rejection. On the other hand, when you get smart and you start using marketing and you focus on a target group of prospective investors and you do it consistently, constantly and consistently, communicating with people, educating people about what you're doing and getting them to put up their hand and self select and say, hey, you know what I'm interested in. Tell me more about what you're up to with real estate. That is a completely different conversation. Then you can go and you can sit down with somebody, show them your spanking new slideshow presentation and have an adult conversation with them. Show them what it's all about. Show them what you've got, show them the pros, show them the can, show them how you minimize the cons and see if it makes sense for them. If it does, great. If it doesn't, that's OK to time and circumstances might change their minds. It might not make sense right now. Six months not. On the line a year down the line, it very well could make sense for the men is still not a rejection. It's just not right for them at this time. And who knows? That might even turn into a referral if you do it right as well. So it's all about taking out that rejection. Right. And bottom line, not chasing after. Take care. God bless Bob. 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.