When it comes to angels, aka the old man with money who will fund your project, expect a GREAT one to take 85-95% of your deal and throw your ass out within 1 year if you can’t deliver as the CEO or boss. While you might think you can manage, the truth is most can’t! Finding angels is not difficult; it’s only difficult but you never ask.

If possible, position yourself properly by using audited financials. You’ll double your chances of approval. When they’re from a big fix firm, you can expect that to be even 25% higher.

Remember, you must be willing to put your neck out on the line. If you won’t, why should a banker? You are the one running the company, not them! Roll your financial worth if you have to.

Aside from bankers, you have other options. Owner financing for one. For instance, a man may have run his business for fifty years, and now he’s watching his wife cough up blood at the hospital. He wants out, FAST! Let’s face it, there are plenty of opportunities out there. However, you must look for them and ask first!

42. Success In Selling Is Smiling And Dialing.

When pitching for funding, you’ll be met with an emotional hurdle! Think of yourself as a concept salesman. It doesn’t have to feel sleazy like being a used car salesman or the guy who sells encyclopedias at your front doorstep.

You must practice! Do so for two to three hours before a presentation, and you will be a thousand times more at ease. You must sell your vision with clarity. The banker has to feel like you’ll do WHATEVER it takes to pay back the money. That passion needs to be crystal clear!

43. Know How To Deal With Bankers.

You want to work with a banker who can make a decision, NOT one that will waste your time. Ask them, “What is the lending limit of your bank?” Immediately, you will separate yourself from 99% of the other people he’s ever talked to. When he responds, ask, “Secured or unsecured limit?” When you have that information, ask, “What is your lending limit?” By that, I mean the amount he doesn’t need a sign-off from his superior for. If his limit is $25,000, you ask for $24,950.