How Do You Take One Partner and Grow in the Self-Storage Industry?

Sometimes getting started just takes having one person believe in you enough to invest in you. But what do you do when they run out of money, or they don’t have enough money? How do you keep building and growing after that? The cool thing about people with money is that they know other people with money. They can introduce you to potential partners. The problem is that most people will be reluctant to introduce you to other investors because they don’t want to get left behind. So how do you prevent them from feeling the fear of missing out?

When you are talking about multi million dollar investments, one partner usually isn’t enough. This is why it is so important for you to have a system in place that allows you to grow, and your first few investors to continue to benefit financially. You can create a multi-level marketing strategy that allows them to profit as you grow. For example, if Uncle Mike is your first investor, you don’t want to abandon him for supporting you and getting you started. Instead, you are going to say to Uncle Mike. We need more money to keep growing, who do you know that might be interested in investing with us.

Any time that someone else can introduce you to a potential investor is better than you trying to sell yourself. They will sing your praises for you. They will tell them how they have made so much money working with you and what a great investment you are. A new investor is much more willing to believe someone who has been there and benefited from working with you than they are to believe you.

However, Uncle Mike might be hesitant to introduce you to his friend Bob because he might be afraid of losing out on future deals. Structure an opportunity where Uncle Mike gets the first shot at any new investment that you are looking at. That way he doesn’t worry about FOMO. (Fear of Missing Out) You should also reward him for introducing you to Bob. Give him 5% to 10% of the profit off of the investments that you and Bob make. If you know that you are going to be doing that, you will know that you have to offer Bob less. This way Uncle Mike will continue to make money with you and benefit from your new relationship.

Now eventually, Bob is going to run out of money and purchasing credit too. When that happens, you need to do the same thing. Ask him who he knows and let him know that he will get paid for introducing you to the next person. You can’t give him the first right of refusal because Uncle Mike already has that, but you can give him the second right of refusal. You can also offer him a portion of the profit that you are going to get off of the friends that he brings to the table. You don’t want Uncle Mike to feel left out at this point so you can give him a much smaller piece of the pie. This way everyone benefits from you continuing to grow and grow and grow. This way, you have an easier time finding additional investors.

Remember that people with money know people with money. Most people hang around with people who have the same amount of money that they do. Because of this, you may need to reach outside of your comfort zone to find your first few investors. However, once you get started and get the ball rolling, you can keep it going as long as you want to. As always, happy investing,