Peer to Peer Lending (TFM 8)

So those are the independent finance companies that Arthur was talking about. And the whole other section he was talking about is something similar but very, very different, which is peer-to-peer lending. And for some of you, that's very, very new. You've never heard of it. You've never done it.

So, in fact, let me spell it out for you in case you have no idea what we're even talking about. Peer-to-peer. So it's like a peer, like one of your peers. So it's P-E-E-R. Okay?

P-E-E-R, like one of your peers. So it's peer-to-peer lending. What it is basically there's a lot of – it's just like this. You've got someone like Arthur who wants a loan, and then you have somebody like me who wants to make a return on my money. I want to flip my money and make a return.

So what these sites do, like Prosper.com, what these sites do is they try to hook us up together. So Arthur goes on there and says he wants to raise $1,000. Arthur has to fill out a very detailed application. He has to fill out what he wants the money for, why he wants it, what his credit score is, and all this kind of stuff. Now, it's going to give me a profile about Arthur and about his request.

So I can go on there, and it's going to kind of show me like on a graph whether it's a safe investment or not. Not safe or not, but it's going to let me determine whether it's safe or not and what kind of return it is. And it's also going to tell me how many other people are investing in him. And here's how it works is that if he's looking to raise $1,000, let's say he's already raised $800. Well, to me, this seems like a good deal.

He's already raised $800 of it on there. So all he's really looking for is the extra $200 right there. So for me, I could throw in $20 if I want. I could throw in $50 if I want. So I'm just investing a small little amount in him, and his credentials look pretty reasonable, and a lot of other people believe in him, and it's good.

Now, if it doesn't fund, if the whole deal closes and Arthur only raises $850 but not the $1,000, then I don't have to fund him. I only fund him if the whole entire deal gets met. So it's only – I only fund. I only fund him if it's a victory. So it's a very, very cool way to be able to raise capital.

Now, here's the thing. Don't spend hours and hours and hours and hours studying Prosper. Okay, if anything, what you might want to do is you might want to just go to YouTube and watch a couple tutorials on it or watch some of our video training on it. Watch something about Prosper. Learn a little bit about it, and then just go up and set up a profile.

And you know what? Maybe start small. Start your first one off small. And here's the thing. Don't just say you're looking for the money for some.

You know, hey, yeah, I want to join an internet marketing company, so I want to raise this money to do this and that. Okay, that's pretty weak. Okay? Make it a little bit sexier. Make it a little bit more attractive.

Plus, in fact, let's talk about that for – let's just transfer to that for a second. Because how you present yourself and what you need money for is really going to dictate whether or not people want to give it to you. If somebody thinks you're going to join some schemey little thing, they're not going to give you money, no matter how good your pitch is. Right? Right.

One of the things you have to do is you have to learn how to present something in a way that people react really well to it. Your friends, your family, these profiles that you fill out and whatnot. So you should practice learning how to phrase your opportunity or what you want money for, learning how to phrase it in a way that makes it sound very, very attractive. For example, I'm going to give you an example right now. Let's take something like Empower Network.

Okay? So if I was looking to raise capital for Empower Network, here's a way that I might do it. I might propose it. And again, this is off the cuff, so I might change this up quite a bit before I actually propose it to somebody. But I might say something.

Let's say Arthur is my potential investor. And Arthur goes, Chris, well, okay, so tell me a little bit about what is it that you're trying to do here? What is the business you're trying to start up? What is this Empower Network? What is it?

And I might say to Arthur, say, look, my goal here is to start up my own internet marketing business. What I would like to do is I would like to get the education. I would like to set up my tools, my resources. Get everything together so I can go to small business owners and entrepreneurs and offer them a consulting service. There's a huge demand for this.

Studies show that businesses are going online in the droves. They're going to social media, but they don't know what to do. I believe that with the right education here and with the right practice in this company and learning as I go, I believe that I will be able to start up my own consulting business where I can go to any country, anywhere, any city. I can go to a small business owner, entrepreneur. I can go to a small business owner, entrepreneur.

And offer them very, very good. I can make very good money by teaching them how to market their business online, teaching them how to set up email autoresponder campaigns and social media contests and teaching them how to rank their websites on the first page of Google. So what I'm looking to do is I'm looking to get educated through Empower Network, which teaches all this, to learn side-by-side from some of the best internet marketers in the country. And at the same time, they have an earn-while-you-learn program. So while I'm learning, while I'm getting educated, I have the ability to market their products and services.

This is where I'm going to get my practice. I'm going to be basically setting it all up for my own business, setting up email campaigns, getting my sites listed in Google, and getting the results. I'm going to take that credibility and all the testimonials that I'm going to get from that, and I'm going to be able to start up my own business doing that. And once I do, I'll be able to make money in any economy, whether it's a recession or whether it's booming, I'll be able to make money. I'll be able to make money in any city, in any state that I choose to live in or any country because there's always...

There's always going to be a demand for businesses that want to learn how to market their business and opportunity online. And I want to be one of the smartest, most savvy people to be able to do that. I feel it's my calling. I feel like I'm passionate about it. And that's what I would be using the money for.

You'd be helping me get educated, and you'd be helping me learn the system, get the tools, get the resources so that I'm positioned to have my own internet marketing business and make money any time that I want. Okay. Again, that's off the cuff. Okay. Okay.

That's off the cuff. And again, that's off the cuff. I might change it up a bunch, right? But does that sound a lot sexier than, Arthur, you have no idea, dude. There's this crazy opportunity where people make sick money.

And basically, all I have to do is refer like... If I only refer like 20 people, then basically I make money off of all of them and their roll-ups. and I'll give you triple your money if you invest in me. Chris, you sold me the first time and I had my credit card out and it just retracted back into my wallet. Yeah, I mean, my first pitch was maybe a little bit wordy and long.

I might have switched that up a bunch. I was really just trying to say it a bunch of different ways so the listeners could get it. But, you know, the second pitch is how people actually say it. What's crazy is that when people pitch me for money, that's what they always say. Like, they always say things like, dude, look, trust me.

I'm going to make so much money in this thing. I don't mind paying you triple. If you loan me $5,000, I'll give you $50,000. I don't even care because I just need you to believe in me. And they'll say stuff like that.

But that doesn't sound realistic. It doesn't sound realistic, but it's a good rate of return. With that type of language, it screams desperation. And, you know, the reality is, like, if you're looking for somebody to invest in you, you're going to have to invest in them. If they invest in you, you can't be screaming that you're desperate.

And like what Chris was saying earlier, you can't give off the impression, even if it's what you feel or what you think, you can't give off the impression that you need the person's money, you know, that basically you're abundant enough that you're going to find it, whether it's going to be them or somebody else. Absolutely. So I think we've touched on this subject a lot. We've talked about independent companies you can borrow from. We've talked about – we've mentioned names.

We've talked about peer-to-peer lending. We've talked about how to position your offer. So that people will actually want to do it. And, again, this is all homework. You guys all – we can't – in one conference call on a Tuesday night, it's not like we can really give you everything.

We're just trying to steer you in the right direction. And we're trying to move quickly through a lot of things, but at the same time provide you with as much knowledge as possible. Okay, so.