In my experience, maybe 1 out of 40 prospects will be completely irrational. He or she will ask off-the-wall questions – to which ‘coming out of left field’ would be an understatement. The prospect may even appear to be apathetic toward making a difference (at all/ever)… or maybe on a power trip. This is The Irrational Investor.
Many people spend A LOT of time (years?) prepping for The Irrational Investor. That prospect keeps 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 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 — RATIONALE 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 it:
- You’ll never have enough info: Seriously, even if you came back with the 3rd quarter financials from seven years ago you would then be asked for something else crazy. You’ll never have enough for an irrational investor so don’t even try.
- Opportunity cost: Assuming you are doing something to change the world then 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.
This concept is freeing for many training camp attendees. If the Irrational Investor is holding you up, let me offer an assurance (again): 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).