Unlocking the Secrets of Raising Capital and Accelerating Towards $100 Million with Richard C. Wilson

Richard C Wilson Guest 00:00

We asked them exactly why they said no. And then we follow up. When we purchased billionaires.com, we followed up over 12 years, every two to four months, until they cracked and gave it to us for less than half of what they were trying to sell it to us for 12 years.

Jonathan Tuttle Host 00:16

My name is Jonathan Tuttle, the host of the Accredited Investor Podcast, and I'm the founder at Midwest Park Capital, a boutique mobile home park real estate fund, along with Revenue Ascend, a leading digital marketing and fractional CMO agency, and a part of the founding team at WowiPop!, a new Kava and mood enhancing beverage. This episode is sponsored by Prestige, the world's most exclusive social networking app. All website links are in the show notes below. In this high level mini series called the $100 million Rainmaker Insights, Richard C Wilson of the Family Office Club, which is the founder of the world's largest ultra high net worth paid association and owner of Billionaires.com, breaks down in short high value strategies in this 19 part mini series on how to grow, think and optimize to get to your first $100 million. You will not want to miss any episodes. Enjoy this mini series. Please like, comment and share this podcast with your friends. Thank you.

Richard C Wilson Guest 01:20

Hello everyone, I'm Richard C Wilson, founder of the Family Office Club, and welcome to module one of our $100 million Rainmaker series. This is a 17 module mini series on advanced capital raising strategies and secrets. So in this module we're going to go over a capital raising mindset. These are all different angles and views on my perspective on what it takes to be really successful at raising capital. The bottom line of everything I'm about to say is that people want to like you, trust you and see you as a class act professional that's going to do the right thing and is high integrity and is not someone who is high stress, sneaky not to be trusted, dishonest, too slick, etc. Right, most of that goes without saying. Some other things, though little nuances about this for those of you that are new to the space or those who are looking to train their team, and just some real quick reminders and this will be a relatively quick module, because the next one is going to get very tactical and practical to apply right away. But a few things here is just to make sure that over time, you're being politely persistent, that you're following up If somebody says no, like somebody said no to us this morning.

02:28

They just said no. After reviewing the details, this isn't for us and we said okay. Is it the structure? Is it because you like direct investments and not through a fund? Is it timing? Is it the location of the assets? Or would you be more interested in our profitable medical practice platforms instead of our short-term rental revenue platform? Right? So we asked them exactly why they said no. And then we follow up. When we purchased Billionaires.com, we followed up over 12 years, every two to four months, until they cracked and gave it to us for less than half of what they were trying to sell it to us for 12 years. When we bought a large community in the doctor space, we followed up with them over 14 months, over 120 emails and instead of paying $3 million, we got the deal done for $400,000.

03:17

That's being politely persistent. You need to add value first. Nobody owes you a response to the email that you sent, right? So you might say, oh, why didn't someone respond? Or you might even I've seen people even get mad at investors saying you shook my hand at the event. Why do you ignore my email now? Well, they get hundreds and hundreds of emails. It's not their fault if your email is average or lame or not valuable, and one core issue with capital raising is a lot of people think they have better deals than they really have. The problem is that some investors are very sophisticated, some are not. Of course there's a full spectrum, but the very sophisticated investors usually are the bigger checkwriters. They see thousands of deals a year. Some early stage capital raisers see maybe 1,000 deals a year, maybe not thousands, and so what they see as a really good deal is maybe not that good a deal to the investor, or maybe the deal is great for the structure's average.

04:08

You have to be compelling in two or three ways. It has to be a sharp strategy, a great team, and they want to have the person lean forward for three different reasons. Two or three different reasons where they say, wow, that's new or I've been looking for something like that. I've never heard of that strategy and the rest of that space is really overcrowded, so I love that they took that approach. That's what you want to get to.

04:27

You need to be 100% or 1,000% conviction on what you're doing. If you don't believe in it, someone else won't believe in it. If you don't take yourself seriously, then no one's going to take you more seriously than you take yourself. If you email someone at the Yahoo email address, that means you didn't even spend $8 setting up a professional domain name, and 0.1 seconds of their time is worth more than $8. So they should not even be reading your email because you didn't even care enough to present it in an even halfway professional way. So we're going to give many examples of that throughout this mini series.

04:57

Make sure you be focused. You're unique, you don't look like everyone else in the crowd and always be learning and gaining an edge. That's partially what the Family Office Club is all about. Selfishly, for myself, I've been to all 190 of our live events. I'm going to keep on going and I decide what we talk about at each event so I don't get bored at my own event and I get bored really easily. So for our long-term members, we keep the content fresh in this way.

05:20

One of my mentors, Dan Sullivan, says there's two types of knowledge specialized knowledge and worthless knowledge.

05:26

And if you're watching this mini series, then you are looking for specialized knowledge on raising capital, getting deals done and working with investors and attracting new investors, and that's what we're going to be equipping you with.

05:38

But you have to open your mind to always be saying how can I use this from Inc Magazine and use it in my business? How can I use what Richard said and use that today in an email? How can I use what Robert Cialdini says about influence and persuasion or what Grant Cardone says about sales and then use that for raising capital Constantly? You have to be doing that because in our space you don't have to win by 100%, you don't have to lap the competition. If you're ahead by 1% or 0.1%, you might get 80 or 100% of that investment allocation. If somebody is looking at investing in our short-term rental platform or in our medical practice deals versus two other platforms, they might give almost all or most of the capital to one group in a secondary position to another one or, if they're looking at 10, they might allocate to two or three, but you just need to win by a little bit, not by a lot.

06:25

Instead of that little edge that might really make the difference. When we go through this mini -series, we're going to throw a ton of strategies at you. We do this at our workshops as well. We want to make this a great investment of your time and by the time you're done watching these 17 modules, I want this to be the most valuable thing you've ever found in the podcast world or on YouTube as it relates to raising capital or investor relations and working with new investors, and have that be the reason why we start a relationship through the Family Office Club and get to know each other and do business long-term. That's our motivation. Give you things you can put in place, but we're going to give you more ideas than you could possibly use right now. It's going to be like going to a breakfast brunch buffet at the Ritz Carlton. You're not expected to eat everything. You pick and choose what looks good to you now. Otherwise you'll get indigestion and things aren't going to work out well for you.

07:14

We do hope that over the 17 modules, you pick up three to four things that, when you stack them on top of each other, they give you an unfair advantage over your previous self or over competitors in a crowded niche that you're in likely. If you even have time to be looking on YouTube or podcast for information like this, you're either traveling, exercising or it's because you need more momentum. You need more attraction. If all of us were raising a billion dollars a year or $20 million dollars a month, we may not have time for this type of information. So even myself, I'm always learning and getting better, and so, until I get to the point of doing a billion dollars a year in deals, I'm going to be at our events. I'm going to be constantly learning, and so you want to be looking out for those things, when you stack them on top of each other, to give you a real unfair advantage in the marketplace, and we're going to point those out through these different modules.

08:08

So these are some of the premises of the right mindset you need to have to be successful at raising capital. You need to be long-term minded and patient with results, but very fast moving. Short term. You need to get right back to the investor very clearly and be a great communicator and show things with diagrams and visuals and be responsive, but not think that they're going to come in and invest right after you talk to them one or two times. You need to be very concise and quick, but also politely patient, so I hope that kind of sets the tone for a lot of the content here to come. This is module number one of our $100 million Rainmaker series. We have 16 more modules to go, so I hope to see you on module number two, which is going to be focused on investor demographics and defining your investor avatar. We'll see you over there in the next module.

Jonathan Tuttle Host 08:59

Hey, it's Jonathan. I get exclusive access to great investment deals, opportunities from my community, my network and just from my loyal listeners. We'll give you first access. Go to AccreditedInvestorPodcast.com and sign up for the email list. Also, join the Accredited Investor Podcast Patreon group where we give you additional exclusive interviews, monthly private group calls and networking with others in this community. Check out Accredited Investor Podcast on Patreon. Finally, I get a lot of people asking me for to help them one-on-one. Yes, I can, but it's very limited. Go to RevenueAscend.com/consulting .For any real estate investing exclusive access, go to the MidwestParkCapital.com . All links are included below. Please like, comment, share this podcast with other friends. Thanks for listening.