The Irrational Investor
If you are out of your office, visiting with prospects, you will come across people who we classify as ‘irrational.’ In our experience, it happens about 1 out of 40 visits. ‘The Irrational Investor’ will ask off-the-wall questions – to which ‘coming out of left field’ would be an understatement. This person may even appear to be apathetic toward making a difference (at all/ever) or maybe on a power trip. The Irrational Investor is the person that might ask for financials from seven years ago or some cost ratio that you (and nobody else) ever thought to compute.
Many people spend A LOT of time (years?) prepping for The Irrational Investor – preventing themselves from getting out and making visits because “What if??!” The ‘What Ifs?” quickly become irrational and never ending – keeping you in your office planning, prepping, scheming, waiting always until tomorrow.
- “What if they just aren’t into saving lives?” (are you kidding me?)
- “What if they want to see our financials from seven years ago?” (They’re making you run a fool’s errand)
- “What if? What if? What if?”
Stop focusing on The Irrational Investor.
Like an exotic animal, the Irrational Investor DOES exist. However, you cannot and should not be focusing on 1 out of 40. You need to focus on the other 39 RATIONAL investors – the prospects (individuals/corporations/foundations) that want to save lives, change lives and impact lives. The prospects that want to have real conversations – with YOU.
Think about the Irrational Investors in this way:
- You’ll never have enough info: Seriously, even if you came back with the 3rd quarter financials from 10 years ago you would then be asking for something else. You’ll never have enough info so don’t even try.
- Opportunity cost: Assuming you are having an impact, how many families are missing out on your programs? Students missing out on an education? Or advances toward a cure? Why does the Irrational Investor get to hold everything up?
- Laugh it off: On the VERY RARE occasion that you do come across an Irrational Investor just laugh it off. Make your presentation, get a good story from the visit and then keep follow-up really simple.
- “We become what we think about”: What a miserable life it is to think about The Irrational Investor. (So don’t!)
If the Irrational Investor is holding you up, let us offer an assurance – just about everyone you meet with be and act like a real person. They don’t bite. They want to have an impact. They’ll love the logic of your presentation and help if they’re qualified (… if you ask).