How to put off a property investor from investing with you

In this episode we discuss:

- How to put off investors
- The problem with talking about multiple strategies
- How to avoid ghosting investors
- Focusing on one strategy is so easy
- Building an opportunity that highlights the value
- It’s all about the person and the deal
- The problem with trying to become an expert in multiple strategies at the same time

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Transcript

Unknown: 0:02

Hey guys, you're listening to arrays in finance talks with Sam UNAL. We are on an absolute mission to help developers raise their first billion from investors. So they can go on and do deals with six figure profits. So if you're not moving forward with your property business, or a lack of cash than this podcast is for you, we're going to seek dive into all aspects of raising private finance. So thanks for listening, and let's dive in. Welcome to the episode, everyone. This one is a little bit different. Today we're going to talk about how to put off investors very quickly and forever. Please tell me how. Please tell me how I'm desperate to know. Yeah, it's just it's an exciting topic. But we promise we'll, we'll make it interesting for you. So that's what this one is all about today, just because we see some common pitfalls, don't we, over the years of sort of how people operate when they're trying to raise finance, and we just felt like, we could highlight a few of them and sort of maybe how they happen and why they happen and all that good stuff. Yeah. And what you can do so we'll see not not fall into those little traps. Really? Yeah. But yeah, before we jump into the episode, how are you mate? Oh, good. Yes, my Yeah, very good. This week, yeah. How's things your end? Not too bad. Not too bad. We're on Riverside today. By the way, everyone, we are literally looking at each other on a screen. It's amazing what technology can do. But Sam has had an interesting couple of weeks of chickenpox and all sorts of stuff. And I just didn't want to venture into the possibility of getting ill. So see a virus was quite funny. I saw some pictures on online recently about how crazy 2020 was, and some photos of like some guy with a one of those giant plastic bottles over his head using it as a mask. And I just had that vision of me walking into your place with just overalls on and gas masks and all sorts of stuff. I really don't want to get ill. Anyway. So yeah, let's jump in. Let's get cracking. So the first sort of thing that we wanted to discuss is, and one of the pitfalls I guess we want to call it that is just not being clear on what you want to achieve from your property strategy. This is quite basic, isn't it, mate. But it's, it's really quite a huge thing when it comes to the raising finance journey to be clear and have that clarity on this is vital, right? Yeah, exactly. My, it's something we've, we're always making sure that before we go into any, you know why? It's not, before you go into meetings, it's before you start really, you know, at the start of the raising finance process, or the process we use, we're making sure that you really know, like the ins and outs of your property strategy, and why you picked it, what the risks are, what the timescales are all that kind of stuff. So you really know, you know your shit, really, when it comes to speaking to people. Because when you know that when you know that stuff, you're going to it's going to promote confidence of investors and that, you know, when they listen to you speak, and you can answer all their questions, concerns, whatever they are, because you know, your strategy inside out, then you're going to be able to build up a real, like high level of confidence quite quickly within the investor. Yeah, I think that phrase, I mean, it's a real simple one, just knowing your shit, we say it quite a lot, don't we, in terms of, you know, that's when you know, you're clear on stuff is when you know your shit. And I think it's really key A to sort of highlight such a simple thing that knowing your shit can create it or should I say has loads of different knock on effects, doesn't it because it creates that clarity around what you're doing, it creates an element of, you know, confidence in what you're doing, which allows you then to have a lot of conviction when you're communicating. And I just think that first bit of, you know, getting to know deeply, you know, what your strategy is in property. It's just a nice and easy step to start with. But quite often, what we see is there's so much out there right? There's so many different things that you can do in property to make money and sometimes that that's where people just get stuck isn't it is just oh my god, I can't pinpoint one thing because I just want a mall or, you know, I go to one course and I, I seen like how to do that model. Now I know how to do this strategy and, and, but then I could do source I could do that as well on top top of everything else, and and you just get so caught up in this. I mean, obviously we know the phrase shiny Penny syndrome, but you get caught up in it. And I think that that can be a big issue, right? Because people just, they just I don't know, they just seem like they're winging it half the time because you ask them what they do. And they're just like, Well, I do a bit of this. And I do a bit of that. And oh, yeah, I do some of that, too. And I've tried this as well. And, and by the time you sort of get 30 seconds into a conversation, your mind is just blown, because you just can't actually work out what they do. It's quite an interesting subject, is I think, quite often, when I am speaking to people, when they are talking about doing multiple different strategies, and sort of that looks interesting. And this looks interesting, quite a lot of the time, I think it's people they are, they see something in a magazine, or they see someone do one glorious deal where they're gonna get 50k. Net for the rest of their lives. And they think, yeah, that's all I want. Let's do one of them. Let's do that HMO. Or, you know, someone else has done one deal. That's just extraordinary. And it's in a magazine, or it was on a podcast, and or just well promoted on social media. And I think, yeah, I just, I'm interested in that, because they've done one of those. And that looks great. And the truth is, it doesn't matter what strategy do, you can make great returns in whichever one it is, you just need to pick one, you know, you can, you can have a couple of different strategies if you like, but, you know, you don't want to be spreading yourself across, you know, turn every different type of property strategies, just because you've seen someone do like an extraordinary deal. And each one there's money to be made everywhere. So you can pick whatever you like, what suits you best. Really. Yeah, it's funny, because I think a lot of the time, especially for us when we're, you know, specifically talking about raising finance, which is something that you know, we pride ourselves on as the doorbell so it was the letterbox in episode number two. And now we have the doorbell possibly some children running in as well. That's funny. But I'll switch the offer the plug now getting it? Okay, that's, that's quite funny. So I'm back, I'm back. And it only took 24 hours to make it back off. So that doorbell is a long interruption. I have never seen it before. So I'm one go to the doorbell and to the door and literally took them 24 hours to come back. And here we are baby. Back and outrageously that was another podcaster I only know a couple of podcasters. And that was one of them. So just very disappointing. She didn't sense that we were recording in an I was in the kitchen, knocked on the door outright, gas sensors. switched on. So obviously not done enough enough episodes yet, not like us like seasoned pros where you know, letter boxes and doorbells, they're just a standard occurrence on our episodes, these days, I'm waiting for mine as well, because I got a delivery coming. So as always your plan which you know, I'm excited about. So we're obviously just getting on to why not being clear on what you want to achieve with your property property. So property, property, property strategy, why that can be why that can be a problem, and it could could put investors off. So, you know, you could appear like you're winging it, because you're talking about multiple strategies. And if if you're talking about multiple strategies, then it's really hard to have that clarity of the conversation you want, you know what you want to be talking about, and why. And if you're just if you're bouncing around in your head with all these different little strategies you're thinking of doing because you've, as we talked about before, as you've seen it, you know, someone's done a good deal, and they've spent a lot of money from it, then, if that's now one of your strategies, and you add it to your bow of you like then, yeah, it's gonna, that comes across, as you said, you know, if you've ever been networking or speak to someone who's looking at doing different strategies, and it does come across as well there, they're up to a lot here. I wonder how they can focus on that. And do they really know the ins and outs of that strategy? Yeah, something something that I think about that as well. Something that I think really does come across with that is I don't think it's a it's from a bad intention. I think it's from a really good intention is the whole feeling of wanting to help everyone with everything. So if you appear that you I can help everyone with all of these strategies, it means that surely I'm going to appeal to more investors that way. Because anything they want, I've got it covered to know. I mean, it's sort of, and I think that yeah, if you want to if you want to hold, if you want hold, we can do this. If you want to sell, we can do this, you know, if you want to don't put in if you just want to put in 10k per deal, then we can do a rent to rent and yeah, yeah, but yeah, it does, it does, because it doesn't call people out. And it doesn't, you know, speak to people in a way that a slightly more niched investment opportunity would, you know, because, again, we've talked a lot about this building the opportunity, stuff like that, it's, you can talk with utter conviction, when you really, really know what your opportunity is for someone. And I think that I just think having that clarity around that and having your your sort of ducks in a row when in terms of what you bring and what you do. And maybe considering that you don't have to do everything can really sort of benefit you, when you're when you're in conversations with people. Yeah, I think it's when you're so clear. And what you do is so defined, and it's really easy for people to understand it. If you're talking about a lot of different strategies, you can can perhaps feel like, you're like you're throwing a lot of information out there. And it's quite hard for people that maybe aren't in property to understand, yeah, it can be hard enough for people in property to actually understand what you're up to, if you're doing like, three or four different strategies, because it just you just get puzzled. And you're like, okay, they're just all over the place here, what they spend in like, half a day, a week per strategy, like. I love that. I love that when we work with people, and you actually end up getting, we get to that point where we're like, right, this is the strategy we're gonna do, or this is, this is what your model looks like or, and then you start, we start breaking it down with them, don't worry, and reverse engineering, sort of how that might look, in terms of like a timeline, you know, how that might look for them in terms of actually achieving what they want to achieve. And you get to that point of like, okay, so you are going to spend what, like half a day on each track? How is this all going to fit in? And that's the moment isn't it of clarity, when you're like, Okay, maybe we need to reconsider this just a little bit, you know, but that's something that we, we always enjoy, and I actually people we work with enjoy as well, because it creates a whole load of clarity for them, doesn't it and helps them move forward. So really, really key point, but also that that lack of like understanding around what you're doing, and in terms of the focus pneus of it, if that's even a word focus, that that lack of having focus around your model or strategy, it just doesn't build confidence with an investor, because when you're out there, you can't, you can't really speak with that conviction. Can you I know, we've talked a little bit about this already. But I really feel like this is something that, you know, a lot of people are coming to us and talking about the confidence and conviction around potential investors, they, they're struggling with that commitment to what they're doing, which is obviously not then being portrayed when they're in conversations, because they they're kind of all over the shop, as we as we, as we saw talked about, and I think it is a really vital part of of the whole communicating side of raising finance. Yeah, like you say that confidence thing is a big thing. We're sort of the more people we're speaking to, you know, obviously, we know it's something that people struggle with anyway, it's something that I struggled with. When I speak thing for people. And I think when you Yeah, so when you when you are just focused on one strategy. It's easy to really look at that strategy. What what's missing from what you know about it right now? Who are the people I need to speak to, to fill those gaps in, in knowledge that I haven't got? Who are the architects? Who are the planning consultants? Who the developers? Is there anyone online I can look at, it's done this kind of thing before money to get on the planning portal to research this kind of development. And it's just really easy to then just focus all your time and effort on that. And it'll, it's just yeah, I mean, it's just so simple, isn't it? And but I think a lot of people will just bypass it, because the they just want to, there's like it's the shiny Penny thing, obviously, the cream on the top, isn't it? Yeah, it's just so easy just to focus on one thing. All you're thinking is around that and if it comes to business and your businesses, I do this type of development, then it's just it's just so simple and You can compare it to, say, a restaurant, if if you know the restaurants got 150 things on their menu, then it's pretty tough for them to do a good job of all those different things and make a really good menu. But if they're just selling four different types of burger, then you know, they really know their stuff with with that food, they can repeat it well, and they know everything about them to get it absolutely bang on right every time. Whereas, obviously, that's a lot harder to implement, if you've got 150 dishes on your menu. Yeah, no, I think there's a concept I think that is absolutely bang on. Because, you know, it's, it's certainly something that you can become known for. You know, and it's easy for people to tell people about you, when you do a certain kind of thing, or when, you know, you're renowned for a certain type of development, as you said, and it's so that that's one real element to it. And the second element is, like you said, your ability to be able to go deep into what you don't know, and turn your weaknesses into strengths. Because you don't have that many things to, you know, pinpoint, and do within a sort of certain niche. Sort of, let's just call it a product, like a property product that you're offering someone, I think you like, let's just use you for your example was the planning stuff, wasn't it? You were like, Okay, I my knowledge of planning isn't maybe where it could be or should be. So I'm literally going to double down on that and get really good at it. And that specifically became like a massive USP for you, didn't it? Because you were kind of able to see things that other people weren't able to. And yet, when you're having conversations with investors, you were able to actually give that over to them and portray that to them. Because you were saying, Well, I understand that someone hasn't been able to get, you know, X amount of units in this building. But I know because of my planning knowledge that you can do this. And suddenly, you've opened the floodgate there for someone that hasn't been able to see something, and and that, again, just shows huge amount of expertise, experience and knowledge that sets you apart from everybody else. And that's just from one part of what you did. And I think that's really vital. It says me, yeah, because when you know, that kind of level of detail about your strategy, and you can go into that kind of detail, then again, this could be saying that this is, I just know that that was what separated me from other developers looking at that type of project, then that was really easy for me to communicate, and obviously promotes me as a person of value, who really knows their stuff about the strategy. And the little bonus for that, and not just for the investors to feel that is also when you speak to estate agents as well, when you can really clearly hone in on what it is you do and what exactly the project looks like that you're going to do, then it's gonna be far easier for them to remember you, and then call you up before those properties go on the market. So you can make an offer? Yeah, no, I think, yeah, there's just so much just and this is just about the strategy. Like it just going deep. And we work on this, this is what this is part of what we work on. It's is it's part of your opportunity, is your strategy. And, you know, there's there's a lot of nuances to it, I think people just look at it and go, Well, I'm a developer, I do development, well, you know, what kind where are they? You know, there's so many like, you know, nuances, what kind of planning sort of angle are you going with that might set you apart from others, there's, there's each and every, you know, what do you then bring on top of that to sort of layer in as your skills and stuff. So there's so much there, just within your, your strategy of what you're doing, that you can really, you know, hone in on and sharpen really is a tool. Yeah, I think this kind of leads on to something else, which can really put investors off is you know, being unrealistic or just not knowing the timescales or risks of a project. So, yeah, that's, I think something that's can obviously have a real impact on investors and it's the kind of thing that can ruin relationships or really test relationships. So, you know, not not being honest or upfront about the project instead in terms of the timescales or the risks when it comes to that kind of stuff. If you if you know the ins and outs of your projects. Just that one specific kind of project you're going to do or your strategy, what it looks like, then you really know what the risks are, whether it's planning, whether it's the build sales, whatever it might be, can identify them. And then obviously, you need to talk to the investors before they were going to invest in the project and be like completely upfront about what the risks are. And obviously, what you're going to do to mitigate them, because obviously, they need this information before, you know, openly deciding whether this project is right for them. And it's something they want to be involved in. I mean, that's just simple, isn't it? It's just being a decent person. Yeah, well, yeah. Sometimes a lot of people don't know that stuff, though. They might not know like, and they might Exactly, they might think they know, because they're trying to, again, this comes down to the whole get mentality, like I'm out there funding deals. So my, you know, my, the lens I'm seeing this through is I need to get money to fund this deal. And therefore, you start to go down that road, sometimes of okay, I, the timescale might be 18 months, but we'll just say it's 12, because I really need to fund this. And that is, that is desperation, it's desperation. And it's horrible. But you know, when you think about it, but but it does happen happens a lot. And I think phase one of raising finance really is, you know, you've got to build the opportunity that does two things, is, number one, an opportunity that highlights what's in it for the other person. And number two, is an opportunity that highlights how you're going to keep someone's money safe. Because really, they're the two questions that they're asking themselves, aren't they? So that is really phase one of raising finance. And a big part of that opportunity, as we've said, is, you know, being very, very clear on what your strategy is. So I think it's a simple thing. But a very, very important part of, you know, how you could potentially put off an investor and sort of, you know, lose their interest, I guess, forever, before you've even begun, which is pretty shit when you think about it, and easily avoidable, as well. So the next thing that we generally find, and that we do see, quite often that potentially can put off investors is making the conversation and the communication all about you, and the deal that you have, and not about the investor themselves. So this is definitely something that we, where we see a lot. And we also, you know, we had it at the beginning of our journey as well, didn't we, when, you know, you we started and a lot of the conversation in terms of what you're offering. And when you haven't built out and spent time on on that opportunity. And looking at what that opportunity is for the investor. A lot of the conversation tends to focus around the percentage because that's what a lot of people feel that they're offering, right, that's the main thing that they're offering is the money that someone will get when they invest. Now, obviously, we know that that's very important. I'm not disputing that in one way or another. But I am saying that what happens when you only think with percentages, at the forefront of your mind is that the conversation will generally always end up around money. Right? And therefore you're not, you know, not getting to know someone you're not understanding who they are. So, I mean, was that something that you found like early on in your journey, mate? How did you Yeah, definitely is something something that I came with from when we first started working together. I really didn't know what else there was to be said, right. I know, there'll be a little bit of chitchat and kind of relationship building. But I just always thought it was always going to be based around the percentage the return, you know, that was what I thought is all going to be focused on really. So yeah, I didn't understand really at that point. And I think that's what most people come to us. Whenever we speak to people on social media or clients. It's the same I think most people think that is it's all about the percentages and the returns. Yeah, it's a massive sticking point def definitely, definitely a big sticking point. But I think, you know, just highlighting some of the things that opened opened it up for you, I guess we're you know, you're just understanding your value more wasn't like just that you had so much to bring to somebody else that wasn't just a deal and wasn't just a percentage and you know, the proofs in the pudding for you because the the Reality is that a lot of the people that eventually went on to invest with you are long term investors. You know, there's, there's, they're, they're still with you, they still want to be involved with you. And they would probably choose you over somebody else based on, you know, the experience they've had, but just mainly because of what you offer. And, you know, somebody else could probably bring them exactly the same development. But they would generally I would imagine, go with you, because of what you bring to the table, and how you've been able to communicate that to them. This is the whole point, we all bring something to the table, but it's how you then portray it and communicate it to somebody. And I think that's really, really vital. Yeah. I mean, if if I if I'm an investor and someone brings me, or if two people bring me the same kind of deal, then which one, we're going to choose what it's going to be down to the person, isn't it? It's nothing about the deal. After that, it's, it's about the person and whether that which one I prefer to invest with? Yeah, um, so yeah, it's definitely about it's about the person, you know, just as much as the as the what they'll get back from from vesting, really? And I, I just think that these, this subject around that, then it's then what happens to someone when they don't have that belief of what they're bringing to the table? That's the thing here, isn't it that what happens then is that they they're kind of the leading card is the percentage, so it's all around the percentage, and it's not so much around, you know, the other person and finding out what it is that, you know, outside of percentages, because that's not even what we should be talking about, really, at the beginning stages have a conversation with a potential investor, outside of the percentages. What is it that they they're trying to achieve? What, what's I always I love the phrase that is, what's the ROI, on the ROI. And if the conversation can be around, what's the ROI on the ROI, then you're focused more about on them and who they are and what their life's all about? And what what the money might bring them. Instead of, okay, here's my top Trump bang, there's 10% a year fancier, you noticed a totally different conversation. And people are people that don't know. Exactly. And if you are then leading with percentages and trying to hook people in with percentages, then you're far more likely to be just, you know, talking at someone really, and obviously, that's gonna come across to that person, as you know, I'm being sold to hear someone's hooking me with a percentage. And essentially, you're just pitching at them. No one, no one wants to be pitched that really. I mean, even even if you look at like Dragon's Den and stuff like that, there's they still don't really want to be pitched out. They want to know who you are, and all of that kind of stuff. Yeah, or even on there. They love the backstory, don't know, they love the backstory, they love hearing about where someone's come from, what they've done in the past, and you know, that will often lead to conversations about their transferable skills as well. So, you know, if you look at it from a Dragon's Den perspective, that's it, isn't it? They did, they do want to find out about your past, and why you're doing what you're doing, what drives you, and all the rest of it. So there you go, proof in the pudding. And I mean, ultimately, then that will lead to more powerful conversations where you're able to, you know, again, because you're including the other person, you're sort of allowing them to speak and get to know them, you're building that connection, that relationship much, much quicker. And they will feel that too. So ultimately, you're not going to scare them off, because you're building that connection and having those powerful conversations every time you communicate. So I think that's really, really key. And something that I think is it just happens all the time, because we we love talking about ourselves, right? Like a lot of people just love, love it. Like it's me, look at me, I'm the man like talk to me, because, again, the louder we shout, the more we get heard. That's kind of the mentality a lot of people have, and I'm not entirely sure that that works with Well, I am entirely sure it does not work with raising finance. Yeah, we're talking about shouting and over communicating, then the exact opposite of that, when you're in an investment or a project with an investor is something that can really put them off and I can pretty much guarantee that they're not going to want to reinvest is when you're not contacting them, or going silent, you know. So it's a real, it's so simple to do. But I quite often see people that invest in Property projects. They do that for a living. And you quite often see them talking about on social media as well, this week has been mainly about me being ghosted by property developers who I've invested with. And I'm sure they're reading this, you know, I've seen that quite a few times. And yeah, and people just think I just, you've, you've gone out of your way, you've worked hard to get a deal to get an investor, and then just burn in that relationship by not contacting them, you know, when you said you weren't in or just, you know, ghosting them going silent, whatever you want to call it. It's just a really rough spot to put someone else in as, as an investor is disrespectful. And obviously, if someone doesn't know what's happening on a project, then think of it think of yourself if you'd invested, say, 250 grand in a property project. And then a few months in, you know, there's a couple of issues. Maybe we're planning, maybe it's the builders, whatever it is, you you've been made aware of them, and you know, they're happening, but then you don't start to get the regular updates from the developer, then, you know, where's your mind gonna go after that, you know, you've probably feel worried, feel like you've made a mistake? Why did you invest with this person. And even if it's only been a week or two, since you are supposed to get an update, then your brain can just take you off somewhere else to this kind of place where it just like goes out of control and gets worried because you just, you know, you go to worst case scenario in your brain, because you haven't been regularly updated. And it's just such an easy one to cover off as a developer, to maintain that relationship. And obviously, even if there are problems on a project, which they normally are, there's always issues to get over, then, if you can regularly update people and be open and honest with them. And obviously, take them when you are content to them, take them the scenario, and what you're doing to sort it out or what you have done to sort it out. Don't just take them to the problem. So you know, when you are going to them. So yet we've got this problem, this is what we're doing sorted out. So they know that yes, there is something going on, it's an issue, we kind of knew that there was always going to be an issue at some point on this project. But I can I can feel well here that you're doing whatever you can to sort it out, which is great. Speak to another couple of weeks, you know, it's just such an easy one to cover off as a developer. Yeah, it is powerful. I've had first hand experience of this. And most often, when the investment was going really well, everything was fine. Regular communication, or gravy, the second that something started going wrong. Lack of communication. Now, if you compound a lack of communication over weeks and months, then you start creating a huge element of fear and distrust within the relationship. And that that certainly something I've had in something that I've invested in. And it isn't a nice experience to go through as an investor. And it's something that can easily be avoided. I think the don't get me wrong, this is not a jab at developers. But I what I'm trying to say is that there's a there's certainly a element of responsibility from the investors perspective to find stuff out and understand what the project entails. But it's also equally as responsible for the developer to be able to communicate that at the beginning, which is kind of going right back to that first part of the podcast that we were talking about the strategy and understanding everything about it, the exits, and the timescales and all of that kind of stuff, and being able to communicate that stuff. Eventually, we'll, you know, this stuff becomes easier, because it's not a surprise. So when you're able to communicate with someone about okay, there is a problem and feel like, you know, I have already told you this stuff, because this was in our initial conversations, it is easier to actually, you know, ring someone up and say, Look, you know, remember we discussed in the early days of our conversations around, you know, investing and we had discussed the, you know, the issues that might occur and things like that, and we discussed some of the objections that you had. Well, this one thing has come up and this is how I'm dealing with it. This is what the plan is, you know, I just want to I want to let you know, I want to bring you into this so that you understand exactly what's going on that completely brings them on board again and that trust just keeps keeps where It needs to be. And I think, yeah, I mean, it is a way to like, and the thing is, you've got to think about the damage that might do when you ghost an investor, how that will make them feel, how that will then change their opinion of you, and how they would sort of recommend you to others, and how they would talk about you, and how they would talk about their experience of investing. And all of these sort of snowball effects that happen from just not sending a text message when you said you would, or, I mean, it's crazy when you think about it. It is, isn't it. So I think that the key there is just having consistency in in the way that you communicate, always, I think that's just a really, really big, big thing. And it just could just stop people from, you know, just never coming back effectively. Which is, which is great. Why not just why not just make it easy for them to come back and reinvest and tell their friends about you, all it takes is a few texts or a call whatever method of communication you've agreed on, at the start of the project, that's all you need to do. So yeah, moving on to the final thing, really, that we feel is super important, is not doing unnecessary practice and preparation for phone calls, meetings, networking, whatever it might be not not sort of going deep enough in your preparation to be able to perform it in front of people and be able to communicate confidently and be really confident about what you're doing. It's a vital part and a really big element to how you come across to people. So having that sort of preparation, as we discussed with you wasn't it in terms of, you know, how you went off, and you said, Okay, planning, I've highlighted that as something that I need to practice and, and get better with, I now I'm going to prepare myself so that I can, you know, perform in this part of what I do. And you just went off and just prepared like, it was insane the level of detail you went into. And I was massively impressed when you were telling me about what you're doing to sort of plug plugged the void, if you want to call it that. And, you know, your knowledge of planning now is, is so much more advanced than what it was. And that's just a very, very small example of how you can prepare yourself really, in getting ready for speaking to people. Yeah, definitely my that was a big part of what I did really is going off and spending that time on, you know, that deliberate practice, on spending time on the planning portal, and going deep into all the different playing applications, you know, looking through hundreds and hundreds, just to get my knowledge base up, really. So that's one of the things that I did. And one of the best things about all the different things you can do when it comes to researching your strategy, you know, you've you pick one, and then you've got the time, and you know where to go off and find all the information is all within your control. And you can just crack on and get stuck into it. You know? Yeah, I weirdly, I think if you look back to all of the different things we discussed in this podcast episode, all of them are within someone's control. So you can actually avoid every single one of these just by knowing that they are there and they are potential pitfalls, and then being able to, alright, I'm not going to fall for that one. I'm plugging the gap in that one and plugging the gap in that one. And eventually you'll end up in a position where, well in a very, very strong position in front of investors when you're speaking to them. And I think that's really what we're trying to achieve here is just highlighting things, isn't it and letting people know what what potential difficulties might come their way. And then hopefully, you know, taking a little bit of action and looking at each one of those and going Yeah, I can I can solve that one for myself, I can take the time out to to fix that and make sure it doesn't happen to me that that's essentially what this entire episode is all about. And as always, if you have any further questions, something triggers you from the podcast that you'd like to discuss with us more. We're happy to either create another podcast episode out of that specific material, create another piece of content for you. And also, you know, obviously have a conversation with you over DM in Instagram. So reach out to us on Instagram at raising finance club. If you have any thought provoking conversations that you want to have with us over DM we're always happy to chat. No, we'll see you next week. Thanks for joining us. Catch you later. Good See you next week as if you want to attract investors without asking for money. Check out raising finance club.com for our free resources. And you can also follow us on Instagram and Facebook at Raising finance club