Whenever I search for guests to interview on my podcasts, I’m always looking for unique and innovative people who have overcome difficult obstacles in their careers and have succeeded in their field. I find that these are the ones who are able to inspire my listeners, often offering concrete suggestions and strategies that can help others succeed no matter what type of business they’re in.
That’s why I was pleased to have Ken Van Liew as my guest. His book, “The Modern Wealth Building Formula,” is a treasure-trove of stories, anecdotes, and proven tactics that have enabled Ken to enjoy unprecedented success. I know he has helped many others move up in their own fields, and I’m hoping his approach and advice will help you as well.
Overcoming Limited Experience and Limited Capital
Like many new investors and sponsors, Ken faced some of the same issues that I did when starting out, which included finding and convincing investors to participate in a deal despite having limited experience and limited capital. You have to bridge the gap of limited experience and let others know you have the skillset to make the deal work, but you’re bringing in investors. To raise capital, you need to put your ego aside and have a conversation with potential investors and find out what’s important to them.
In his book, Ken relays how he put himself next to others with money. He was in his 30’s when he put together his first deal, and he ended up making his first investor his partner. Ken raised $400k and earned income from development and construction fees. He believes that everyone knows how to do something, and his approach is to look at things as a puzzle and try to put the pieces together to make it all work.
You don’t have to know everything. Hire or partner with others who have knowledge that you don’t have and build a team with those who have specialized knowledge. Ken found, as I have, that when you put your own skin in the game, surround yourself with advisors, and can show deal flow, you’ll attract investors.