JT Foxx’s 7 steps for raising capital for your business
With his South African leg of his “Comeback Tour” having just come to an end this weekend in Johannesburg, JT Foxx’s story is one well-known by most South Africans. The 34-year-old American entrepreneur has acquired and sold over 500 properties, closed over $40 million in real estate deals having started his empire with nothing more than $1000 in his name.
This serial entrepreneur and real estate investor is considered one of the foremost speakers and strategists and is considered the number one coach in business, wealth, and real estate. Foxx’s mission, as he is has said in his various wealth coaching sessions, is to create the next dollar billionaires.
Foxx says for people who have no money, raising capital is very difficult. But for those with money, it’s not a problem because the banks want to invest with people that have a track record.
“Don’t promise the potential of making more money for investors. They already have more money than you do”
In this 8 minute video taken from one of his wealth coaching sessions, JT Foxx gives his advice for raising startup capital.
1. It’s all about partners. If you make it about the numbers and promise a percentage-based return on investment, people will treat you as a number. Focus on creating lasting partnerships.
2. Be visible. Brand yourself. You can have the greatest investment or product in the world. But no one is going to invest with you if they don’t know you. People will ask to invest with you if you’re branded
.3. Build relationships. Don’t rush to sell your concept. Building relationships and networking is more important.
4. Why would they invest with you? Don’t promise the potential of making more money for investors. They already have more money than you do.
5. Brand reinforcement and credibility. What you say must be reflective in your cyberspace and online presence when investors search you.
6. Reinforcement of investment. Make your investors feel comfortable about their decisions. They are likely to withdraw investment if they have fears.
7. Use the GPS. Bring as many partners with the Growth Partnership System to grow the business. It’s not as profitable as having one partner, but it sustains the business.