You can beg and grovel for money, or you can skip the begging and play hard to get. It depends on your situation. But strategy and logic always help when you ask for money.
Lenders and investors need you just as badly as you need them. Without people to lend money to they don’t make money either, so you are important to them.
You want to give them the impression that you will not take any money they give you at any interest rate. Let them know that you know you have other options—you have thousands of lending institutions and investors to choose from.
There is an art to asking for money: Always be professional. Don’t be afraid to hear no. Work smart. Build contacts. Don’t be afraid to hear no. Smile. Shake hands with confidence. Don’t be afraid to hear no. Come prepared. Be on time for meetings. Don’t be afraid to hear no. The key to knowing how to ask for money is to just keep asking.
Different lenders and investors all want different things, so understanding that you cannot be everything to all of them is important to remember. Your next meeting could end with someone uttering the word yes. The only way you will find out is if you are not afraid to hear no.
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