NOTES with Jay Conner Success
How to Host a Successful Private-Lender Luncheon
I f you’ve been with me for a while, you’ve heard me talk about the importance of holding a private-lender luncheon as part of your strategy to attract more money to fund your deals. On more than one occasion, I presented private-lender luncheons and received $1 million in Private Lender Funding. These numbers aren’t out of the ordinary, and you need to have the right plan in place in order for your luncheon to be a success.
“On more than one occasion, I presented private- lender luncheons and received $1 million in Private Lender Funding.”
Planning the Luncheon
• Step 1: Set the date. This is your deadline, and it should be no more than 30 days from today. I know you don’t even
• Step 5: Pick up the phone and call your list. This is not a task you should delegate out or automate with fancy, printed invitations. Two weeks before your event, pick up the phone and start calling people yourself. Don’t discuss private lending or private lenders, your conversation should be similar to the opening scripts I teach for offering the 16-minute CD. “Hey, this is [your name]. How are you doing? Great! Well, I’m putting on a very nice luncheon at the [name of venue] on [date]. I’d love for you to attend if you can. I’ll be putting on a presentation about how people can get higher rates of return on investment for IRAmoney than they can get anywhere else, safely and securely. There’s absolutely no obligation for you to engage after the luncheon, but I would really like for you to attend and support me in this effort. I promise to have you in and out within one hour and 15 minutes. It would be great to get your feedback on my approach and hear how I can do it better in the future.” If you think of someone a week before the luncheon or run into a prospective lender the day before the luncheon, you should definitely invite them. I have received pledges from people I invited to an event at the last minute. But the best strategy for inviting people is to give them two weeks’ notice. Keep inviting people until you have 20–25 yeses. • Step 6: Invite your teammembers. In addition to prospective lenders, you should also invite your teammembers. This includes your assistant, accountant, business partner, real estate attorney, Realtors, the sellers of a property you purchased, buyers, and private lenders who pledged you money Continued on page 3 ...
know where you’re going to have the luncheon, but setting the date should always be your first step. I do this with everything in my business. I might not know how I’m going to pull it off, but I have a self-imposed deadline, and that drives me to start planning. The best time to hold your luncheon is a Tuesday, Wednesday, Thursday, or Saturday at noon. I know you may have a day job, but 30 days out is plenty of time to notify your employer that you will be taking that day off. • Step 2: Choose the place. You want the nicest venue you can find. The best place is a country club. If you’re not a member of a country club, perhaps you have a friend or a relative who is a member and can help you. If you cannot book a country club, the next best venue is a nice hotel. I don’t mean a Motel 6. Look for a Marriott, Hilton, or some other classy hotel that can feed you and your guests. Very nice restaurants also work well. Be sure to book a private room so there are no distractions. • Step 3: Plan a preset meal. You need to work with your venue to have a preset meal arranged. You can include options, like a vegetarian plate, but your guests will not be ordering off a menu. • Step 4: Put your guest list together. You will invite people from your warm market. A private-lender luncheon isn’t effective for a cold market or people you don’t know. Now, the people you invite can bring guests who you haven’t met yet, but these are referrals, which isn’t the same as a cold market. Make a list of 40 people in your area who you can invite. If you joined Business Networking International or Rotary Club, they should be on your list.
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