One secret to help you get you the cash you need FAST
“Money follows big ideas”, Phillip said. Phillip was a good friend and my closet mentor. We discussed and acted on several ventures together when I was still wet behind the ears. Phillip carried me on his shoulders for years, the kicked me out of the nest.
Phillip was a multi-millionaire when we met at a coffee shop his girlfriend owned in Wisconsin. But Phillip taught me a secret which has paid dividends for more than 30 years.
The secret is…money follows big ideas. Phillip taught me in every industry, market, venture or business there are millions of ideas. Most entrepreneurs just copy ideas, and there’s nothing wrong with doing it. There’s NOTHING new under the sun. But some entrepreneurs have a vision and a BIG idea. The real money in this world follows or is attracted to BIG ideas.
This doesn’t mean you need to invent an Apple Killer, a new search engine, or another Facebook. That’s usually a waste of time. A BIG idea can be applied to carpet cleaning, information publishing, junk mail and even mobile home real estate.
It’s simply presenting your BIG idea in the right way to the right people…and timing plays a part too.
Phillip taught me HOW to present a BIG idea to people with boatloads of money. I know this probably sounds like a lesson from business school 101, that’s not my intention…business schools are often wrong.
Phillip taught me the power of an executive summary. Google it. The most powerful and effective executive summaries are so simple an 8th grader will “get it”. I’m serious.
Now don’t get me wrong… Just because an executive summary is simple and concise, does not mean it’s easy, or something you can throw together in 15 minutes. However, a basic outline could be drawn up in just a few minutes.
On top of that, if you need money for a car, boat, RV or house…a loan application usually takes the place of an executive summary, but not always. Its true executive summaries are typically used in business ventures, investments or for charitable groups. But drawing up a powerful executive summary to attract personal financing, loans or investments, is not a bad idea. It will help you think like an investor, bank, wealthy individual or a trustee for a foundation.
In a second I’ll show you how and where to get your hands on some great money and funding sources. It includes contacts at active banks, investment firms, credit unions, wealthy individuals and even angel investors…so keep reading!
The best executive summary should have five basic parts. The summary should cover the what, why, when, how and where of obtaining money or an investment.
Marc’s Successful Executive Summary
(Names, locations, titles changed)
What: US Housing Trust
US Housing Trust acquires, develops and manages affordable residential properties primarily in the Eastern United States. The Trust focuses on strategically located properties which have easy access to public transportation, highways, discount shopping and healthcare facilities.
What: Acquire, develop and manage comfortable, affordable real estate properties with a view to moderate income residents (and seniors). Focus on strategic areas which have easy access to public transportation, medical facilities and discount shopping
Why: There is a significant shortage of comfortable, affordable housing in most rural areas, towns and communities throughout the US.
When: Now. There is a rising trend in demand for comfortable and affordable living housing in most communities due in part to the economic downturn.
There is also a rising trend for smaller homes and apartments. Foreclosures of large, expensive homes are at historical highs. The US Housing Trust should be a strong performer in hard economic times. The company should also excel in stable economic environments.
Where: In communities impacted by rising costs, home foreclosures, job loss, and a lack of affordable rental property. US Housing Trust focuses primarily on properties which have easy access to public transportation, highways, medical facilities and discount shopping.
How: By acquiring foreclosed, bank owned, and undervalued properties at deep discounts without overleveraging. The Trust focuses on renovating select qualified properties, and retrofitting existing structures.
US Housing Trust has eight competitive advantages over similar real estate ventures, holding companies and/or trusts.
Value Proposition for Investors and Lenders (Important stuff, what’s in it for them – specifically)
Monetary Requirement – $30 million
If granted, the funds would be used for three specific purposes:
The best executive summaries show a CLEAR competitive advantage. This is often the “tipping point” for getting funds.
For example, there are millions of companies, trusts and entrepreneurs involved with real estate. Lenders, investors and trusts have taken a beating the past 5 years because everyone was overleveraged and thought they were smarter than they were.
Thinking we have a competitive advantage doesn’t make it so.
You have to really think this through. When you have an executive summary which is easy to read, with specific points on how and what the money will be used for, with a CLEAR competitive advantage it naturally attracts banks, investors, foundations and wealthy individuals.
The “How” of getting the money you need is an executive summary.
The secret is money follows BIG ideas. Believe it or not, a $100 loan from a pawn shop or payday service is more apt to default then a $100 million investment. It took me many years to learn this simple business lesson.
Okay…on to the money sources…
I wrote an incredible book called How to Beat the System without Going to Jail.
In my book there’s more than 200 legitimate, viable and updated MONEY SOURCES.
Philanthropists are Still Handing Over Millions for Great Causes
There’s a misconception about most ultra-wealthy individuals. It’s generally assumed super wealthy people hoard money like misers or Scrooge and never give it to people or organizations in need.
The truth is…wealthy individuals are still handing over millions of dollars every year. They usually do this through foundations for GREAT causes (BIG ideas). The “right cause” is the key to receiving money for your cause or venture.
Granted, the chance of getting money from a foundation to pay bills, buy a new car, or acquire a new boat is pretty slim. But thousands of people, groups, organizations and ventures receive money from foundations and wealthy individuals simply by asking for it, and by promising to commit the funds to the “right cause” (executive summary).
The late Percy Ross in Edina Minnesota was the founder of the “Thanks a Million” newspaper column. His column reached millions of people every week. I devoured it as a teenager! I grew up by Percy Ross’s house. Individuals could write to Percy with their requests, and many of the requests were honored with an award.
So if you write to a foundation, wealthy individual or investment group be sure to include a simple, powerful executive summary. Here are a few wealthy individuals and foundations granting cash awards on a regular basis (you’ll learn about many more in my book):
Dorothy Ames Trust
PO Box 1054
Augusta ME 04330
Aid to hearing-impaired children
Thomas C. Burke Foundation
804 Cherry Street
Medical assistance to cancer patients in Georgia
Josiah H. Danforth Memorial Fund
8 Fremont Street
Gloversville NY 12078
Medical assistance to residents of Fulton County NY
Alfred I. DuPont Foundation
1650 Prudential Drive
Jacksonville FL 32207
Financial assistance to residents of Southeastern US
Addison H. Gibson Foundation
One PPG Place
Pittsburgh PA 15222
Hospital and medical assistance for residents of Western Pennsylvania
Final tip and million dollar advice……..
Ty Hicks at International Wealth Success taught me this principle. Ty’s written more than 50 books and programs on money, business and real estate. He’s a master when it comes to getting the money you need!
Ty told me, “Make sure you submit your loan application, executive summary or request for money to the right people”.
In other words, when you’re looking for money, investment or a loan it’s crucial to go to the right lender or organization. There are banks which specialize in business loans. There are investment firms which specialize in start-up funding. There are lenders which specialize in real estate deals. And there are banks which specialize in personal loans. This information is simple to find. In most cases all you have to do is ask!
If you submit an executive summary and request for money to the right people, at the right time, there’s a good chance you’ll get the money!
Have fun…and play nice.
“The King of Business Opportunities”
(Ed Note: Marc Charles is referred to as “The King of Business Opportunities” ….and for good reason. He should be known as “The King of Legitimate Business Opportunities”…because he’s launched, bought, sold reviewed and advised on hundreds of businesses and money making opportunities. He understands legitimate opportunities. Marc has agreed supply League of Power members with crucial updates regarding legitimate business and money making opportunities.)
Do you need money for a car, business venture, investment idea or home?
Write an executive summary. Yes…even for a personal loan. This gives a potential lender, investor, foundation or philanthropist the EXACT purpose and amount for any loan or gift.
You can use my example in this issue, or Google “executive summary” for more samples. The BEST executive summaries are not based on emotion or feelings, but rather on logic and business sense.
The Chronicle of Philanthropy is a publication which tracks financial giving from wealthy individuals and foundations to non-profit organizations.
The Foundation Center in New York City provides an abundance of information and insight with regards to securing gifts and money from philanthropists or foundations, as well as tutorials for writing successful letters.
Personal Loan Sources
Essex Credit Corp.
American National Bank
Hot Money Sources on the Web
FreddieMac (They’re still in business and making loans!)
Fast Cash Sources
Small Business Money Sources
Bank of America Community Development Bank
Lee County Bank & Trust Co.