In part one of this article, I talked about what I consider to be the foundation of everything about Invest without money.
I told you how my parents often said to me that money is the foundation for more funds if I suppose another way to invest your money wisely and how I decided to look for another opinion about money. I found that opinion from those who have made significant money, and that changed my life.
For more than 11 years, I’ve been able to get investment from different people, including strangers who didn’t know me from Adam. I told you about some of the books I read, which taught me about other people’s money and how to get it.
I told you about the need to bury yourself into understanding whatever you want to invest in, even before trying to get someone else to invest in your idea.
If you’ve not read part one of this article, you must read this after this one.
Forget the bank
Forget the banks I sometimes remember in the year 2007 or so. I had an idea, and I wanted to raise investment for it via a bank in my country. I approached the bank, and it didn’t take me long before I saw that I was never going to be successful in raising investment from the bank. So, the first thing I want you to do when starting is to forget the banks.
Of course, this is not a commandment because I’m talking from my limited experience as a guy who lives in a developing country. Since I don’t know everything about every other state, I am not likely to tell what is going on in your country. Haven said that what I know with banks in my country is that, if you don’t have track records that show that you’ve been managing reasonable money before or have collateral, you probably won’t get them to give you money.
If a similar thing happens in your country, I advise you to forget the big institutions and focus on individuals, and this brings another problem: how do I get other people to trust me?
Get other people to trust you
Let me tell you a personal story. Like a few years ago, I sat down and asked myself, why is it that wherever I go, I always get people to like, trust, and support me? I mean, I still hear people complaining about the fact that the human race is doomed, no one likes you, and no one wants to support you.
Coming from a highly stigmatized country because of the few evil ones among us, everyone seems to believe that they are on their own, but I was rarely on my own.
Wherever I go, I find people to support me, and I wanted to know why I am different. This is what I found out; first, you see what you get. By this, I mean, if you think everyone is evil, you’ll meet enough evil people. If you think people are generally friendly and supportive, you’ll meet nice, supportive, and good people.
Maybe the law of attraction plays a game here, I cannot tell. What I can tell you is that your body language, words, and actions will show your most in-depth world view, and those external signals will either make you attractive to the right or wrong people.
I found out that if you lie in front of people, they know that you’ll lie to them.
It’s that simple. A persona story to demonstrate this is what happened to me around the year 2011. I needed some capital, and I discussed it with a friend. The only money he had was the money he wanted to use for his school fees, but he decided to give it to me, taking the risk of not being able to finish his education, and he told me something. He said he could never provide such money he gave to me to his blood brother, and the reason is that he didn’t trust them.
You have to be trustworthy
You have to be trustworthy if you want to get other people to invest in you. I can say this to you a million times; you have to be trustworthy. You have to be trustworthy again. You have to be trustworthy.
And one other thing I perceive about trustworthiness is that it seems to follow you everywhere you go. I say this because I have met strangers who seem to trust me within minutes after they meet me.
Again, I’m not a psychologist, and I can’t tell you how that happens, but it is suspect that something in your body language, voice, and words tend to reveal who you are to the people.
So, be honest, truthful, and trustworthy if you want to invest without money from getting other people to invest in your idea.
Have a Track Record Sometimes in 2016, I had a business idea, and I needed the amount that was a lot to me then. I sat down on my computer, and I composed an email to about three friends. One of them asked us to meet, and we did meet. After our meeting, he promised to invest more than the money I needed. I was crazy, and I thought he might not follow up with his promise, but he did some days after that meeting. What makes this investment surprising to me was that this man (who is now my good friend) knew almost nothing about me in the real world. We met online, and I had only visited him about two times. I lived two states away, and there was no way on Earth he could ever trace me if I decided to run away with his investment.
What makes such people drop crazy amounts for you without any collateral, guarantee, or something like that? I’ve talked about trustworthiness, and that is very important.
The other important thing is your brand or tracks records. By this, I mean, the combination of everything that is made up of you.
For example, I think everyone who knows me has always known me to be an actor. I talk a lot, but I do even more than talk. I am proactive, and I can make sacrifices. I don’t make excuses, and if I tell you I wanted to achieve something, you can trust me that I can sacrifice even my very life to achieve it.
So, I guess with everything this friend knows about me online; he knows that his investment is safe. You have to build such a brand. If you have a brand that is about proactiveness, a brand that is about actions, a brand that is about making sacrifices, people around you, and even strangers tend to know, and tomorrow if you need them to invest in your idea, they will be defenseless. Endure Rejections I’ve been rejected many times as an entrepreneur, and I think you get to a point where you get used to it.
While you’re starting, you must endure that most hated word; NO. People will reject you, and that’s fine. If you take their rejection personally, then you won’t move to another person. Don’t think about a million dollars. A young guy once visited my office. He should be around 22 years old. He wanted to start a business, and when he showed me his business plan, I saw a crazy amount.
From experience, I knew that he didn’t even need 20% of the money he was planning to get, and that is a problem. Most people who want to invest usually want to invest hundreds of thousands of dollars. That is the indication that you want to buy your way to riches, which never work.
It’s a painful fact that your first three businesses or investments are not likely to succeed. The reason is that you’re not as smart as you think you are. What happens most times is if you put too much money on your first or second investment or business and it collapses, you may never recover from such failure, but if the amount is small, you can always stand up and try again.
Firstly build a business
Another advice I have for you is, don’t invest in any company until you do business. Today, everyone thinks that Warren Buffet is a great investor. What most people don’t know is that he was an entrepreneur first and foremost. I know this advice is not for everyone, but if you’re still young, make sure you invest in your own business and learn how to build a company before you even think of investing in stocks, forex, or even Cryptocurrency.
This is because building your own business teaches you the fundamentals of how money is being made, and that helps you figure out the right investments from other places.
Another valuable advice I should give you is; look at the internet and maximize every free resource the internet has to offer you. Take, for instance, I’m a writer, and in the past, if you want to be a successful writer, you need investment or support of a printing house. In the last month alone, more than 1.5 million people consume my work on the internet. If you convert that to the monetary value, I’ll probably need a hundred thousand dollars in 1986 to achieve that.
So, be curious and pay attention to the technologies around you because some of these technologies can eradicate the need for money. As a talkative, it’s tough for me to know, maybe I make sense sometimes. Please read part one of this article about how to invest without money.