Newspaper article THE JOURNAL RECORD

Suggestions for Successful Financial Deals

Newspaper article THE JOURNAL RECORD

Suggestions for Successful Financial Deals

Article excerpt

The thought of meeting with the "money person" can unnerve even the most successful businesspeople. But just because a lender or investor controls the purse strings doesn't mean they have to control your heartstrings. The following suggestions may make meetings with money sources more comfortable and productive.

One of the best tools for preparing to meet with a lender or investor is role-playing. Make a list of what the money source is likely to want and what his questions or concerns are likely to be. Role-playing gives you the opportunity to relax and line up your rebuttals and justifications. It also gives you time to think through your responses and get comfortable with your answers before the meeting.

Tape-record a role-playing session in which someone asks you probable questions and you answer them. Try to be objective about the logic of your responses, and listen to the quality of your voice. You may find that you have an abrasive or unpleasant tone that could antagonize the person you are trying to persuade regardless of what you say. Maybe you speak too rapidly or use too many "uhs" or "you knows." Work on whatever negatives you hear on the tape. In small to medium businesses, the chief executive officer often makes the presentation for a request for money. But it may be essential that someone other than the CEO answer the questions. The person speaking at the meeting can greatly affect its outcome, and the CEO is not necessarily the right person for the situation. Ego and a vested interest may make it difficult to be completely objective. Go in with a positive attitude. There is a good reason for all the time and attention devoted to the power of positive thinking: It works. If you go into your meeting with a positive frame of mind, you will set the stage with a positive attitude for everyone there. Keep in mind that the lender and investor really have only one product: money. You simply have to show why your situation can be a vehicle for them to use their money to make the return they want within the risk parameters they find acceptable. …

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