Greg Herlean tells Hannah Hammond that new fund managers can't wait for deals to appear. You need capital first to have negotiating power, which means relentless networking: panels, events, pounding the pavement. His personal energy and persistence convinced people to believe in his vision.
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if it's their first fund and they don't have a track record, I'm like, well, how do I trust you? And how can I let other people know to trust you too if you don't yet have that track record? So how did you go about that?
I get really frustrated, frankly. I'm on all these panels, I'm with celebrities that get up before or after me, or we go to dinner and they're like, oh, you know, you find the right deal, money comes. And I think that's bullshit, especially if you're just starting. I mean, you could have the best deal in the world And I don't believe money just comes. I always say lead with finding money because I believe when you have money, you have opportunity to negotiate into deals and find deals, especially when you're new in the business. I just worked harder and met more people. I literally was going out face to face in events, in the audience, and I was just pounding the pavement, building relationships, sharing what I was going to do. And people believed in my energy and believed in me. And that's where it begins.