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Strategies for Asking for Money
Strategies are just as vital as the money you may secure.
In my experience, having a plan is key to securing funding. But the ability to effectively ask for money is also key.
The strategies you use to secure and use funding is critical. Many entrepreneurs I’ve worked with around the globe have shared that it has taken them anywhere from three — 15 requests before they receive any money.
That insight is vital in a way, because it presents an opportunity you may want to consider. The opportunity is just like asking for the sale:
When you ask for a sale, as you may know from my book — The Power of Seven — as well as the program about it — it is clear that it takes many touches to make one sale.
You might ask 10, 20, or 100 people and depending on the number you ask, the number of sales could change.
As an example: For every 100 people I asked for a sale in my early days selling perfumes, I got somewhere between 7–10 people to buy.
Sometimes those 7 or 10 were the first people I talked to, and sometimes they purchased over a period of a few days or weeks.
The same is true when asking for money. Just because you may ask 1, 2, 3 or 4 people, it doesn’t mean you’ll get a sale. You may have to come up with a strategy…
