How To Get Them to Invest More If They're Already Investing
One of the most frequent types of everyday negotiations that people fear is negotiating bills and contracts. However, many companies are flexible in terms of negotiating prices and services - they just don't advertise it. We cover some tricks to get them to open up.
00:00:00 Beginning
00:00:19 Introduction
00:00:43 Tip #1: Understand Their Goals
00:01:55 Tip #2: Adverse Transparency
00:03:52 Tip #3: Effort Manipulation
00:05:11 Tip #4: Due Diligence as Continuous
00:06:46 Summary
00:07:36 Conclusion
In this video, we cover four main tips to raise more capital from investors or donors, regardless of your situation (startup founders raising funds from VC investors, asset managers raising capital from institutional allocators, NGOs raising donations, and so on).
The four tips include:
Understanding investor goals. Most entities who raise funds or donations ask for money blindly, not making an effort to understand the goals and needs of their investors. Not only is this is a bad thing to do - as you may be asking for money from a person who is not even a fit in the first place - but you also miss out on a big opportunity (since most other people fundraising don't do this, it's very easy to stand out by doing it);
Using adverse transparency. Or, in other words, sharing negative information you did not need to. There is no perfect fund or company, and investors know this. Seeming perfect will only make an investor suspicious, and if you're lying, you may be permanently blacklisted. But sharing negative details shows honesty and credibility. No one loses an investment due to a small past error, but a lot of people lose investments due to lying and not being considered trustworthy;
Using effort manipulation. That is, making things seem easier than they are. Most effort is perceived effort, which means that if you make an investment seem easier to do, it actually becomes easier. Using terms such as "simple investment process", "2 key investment principles", and similar help clarify for investors, which facilitates investment;
And finally, considering due diligence as continuous. Many companies and funds consider fundraising as a "one-time thing", but in reality, the tests that investors put you through in the beginning are just a taste of things to come, and it's important to see them as that. Chances are, most of you future funds will come from repeat investors, and not current ones, and it's a lot harder to obtain a new investor than to just keep current ones happy;
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Video Courses:
Ultimate Persuasion Psychology Course:
https://www.udemy.com/course/ultimate...
How Manipulation Works (9 in 1 Masterclass)
https://www.udemy.com/course/manipula...
Negotiating Your Salary
https://www.udemy.com/course/negotiat...
Dealing with Difficult People
https://www.udemy.com/course/dealing-...