How to still secure investment after a business failure

As we approach the end of this year, I'm looking back at some of the fascinating business stories that either made me smile, got me confused or made me curious. In 2019, I was interviewed by BBC to share my point of view on tech founders who were fired from their own businesses for bad leadership, click here to read. One of them includes Adam Neumann, the founder of WeWork. Despite having lost millions to his investors, I was baffled when I found out that he secured a $350M investment (and $1BN valuation) for his new rental start-up. How did he do it? I needed to know as the White Boy Privilege Club doesn't give unlimited passes. We all know it's even harder for ethnic minorities and women. Who was crazy enough to give him more money?

A few weeks ago, I finally decided to watch "We Crashed", the short series about his rise and fall. I was glued to each episode and couldn't believe how he managed to get away with murder for so long. I understood how he did it so I'm sharing this with you hoping it helps you secure investment for a new venture. Then hire my agency to do your branding and marketing so we can make magic together (wink!). Anyway, let's get to it.

Note:

Let's add something important. Adam Neumann negotiated to leave We Work with a billionaire package deal. He started his journey without spending a single penny. From the start, he never spent his money. That should tell you something. You don’t always need your own money to start your entrepreneurship journey. Mastering these skills will take you a long way.

Persuasion skills

When you try to convince someone to invest in your business, it's important to remember that people are motivated by different things.

The first thing you need to do is figure out what your audience cares about—that can be anything from money to power or a combination of both. Then, if you can show them how they'll get what they want by investing in your company, you'll be in good shape. But even if you don't have the right cards, you can still win over an investor by showing them how much they need you to get what they want.

Sales skills

Selling is the most important skill for a tech entrepreneur to have. It's not about being pushy or manipulative, it's about knowing your product (and knowing your target market) so well that you can clearly articulate why someone should buy from you instead of from someone else.

If you're not sure where to start, start by looking at your business as a problem-solver. Look at the problems your product solves and how it might solve them better than any other product out there. Then think about how people who need those solutions will go about trying to solve those problems themselves—and what they'll do if they can't find a solution that fits their needs perfectly.

Then figure out how to convince people that your solution is the best one for their specific problem, and make sure they know it!

Psychology

When I studied psychology at university and further the educational system, I realised that we aren't rational at all. We are highly self-centred and are motivated by emotion rather than logic. The best way to succeed as a tech entrepreneur is to talk less about your product—and more about what's in it for your customers emotionally and rationally. Understand who is in front of you.

Be a visionary with a personality

A visionary takes people on a mind journey of excitement. A new reality so exciting for them that they will want to be part of it and escape their boring reality. Feed that vision as often as possible to fuel drive. The best way to do this is by being an excellent storyteller! The most powerful visions are born out of stories, so tell your story with enthusiasm and emotion because these are the things that will make your audience fall in love with your vision! Become someone people dream to work with.

Confidence and conviction.

Another secret to success as a tech entrepreneur is confidence and conviction. Confidence in your ability to solve problems, and conviction in your ability to succeed.

When faced with an obstacle, most people will see a problem. But as a tech entrepreneur, when you see that same obstacle, you'll see it as an opportunity to create something new—and you'll do whatever it takes to make it happen.

When you're facing adversity or challenges, it's easy to get caught up in the moment and lose sight of what really matters: your conviction that this is what you were meant to do with your life. Have confidence in yourself, your ideas, and the fact that you are here right now because it was meant to be this way!

Love partner

When Adam Neumann was on the verge of starting We Work, he knew that he needed someone by his side. Someone who would support him in every way possible, but also challenge him when he needed it. Someone who was willing to be his partner in crime, not just a cheerleader.

Rebekah and Adam Newman have been partners for a long time now. They have been through the best and worst of times, and they have helped each other grow in ways that they never could have done alone.

Unfortunately she is also the reason that led Adam to his fall. The episode on marriage troubles and redefining the rules on their IPO application threw me out. They became so detached from reality that they could no longer see their own delusion.

Be careful mixing business with pleasure. Having the right partner by your side will make all the difference in your success and happiness.

Now, go be super successful.

Flavilla F.