Victor Menasce’s career started designing microprocessors, and he eventually learned to raise capital in technology companies. He’s the author of the book Magnetic Capital, and today he’s building multi-million dollar apartment buildings as a real estate developer.
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Calm – Victor’s small business resource
The Speed of Trust –Victor’s Top Business Book
Magnetic Capital – Victor’s book
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3 Value Bombs
1) Your goals and the money you’re raising should always be aligned.
2) The people on your team need to be on the same page—unity drives success.
3) The five keys to successfully raising capital are: relationships, trust, results, a compelling opportunity, and perfect alignment between the money and the project.
(click the time stamp to jump directly to that point in the episode.)
[00:53] – Victor is a husband and father who lives in Ottawa, Canada
[01:43] – His area of expertise is in the art of raising capital
[02:35] – Share something we don’t know about your area of expertise that as Entrepreneurs, we probably should: People are scared to raise capital because they think it’s about raising money. What Victor does instead is ask people to participate and collaborate in a specific project
[03:41] – “If the goals for the entrepreneur and the goals for the money don’t match, don’t take the money — it’s not going to work”
[04:37] – Worst Entrepreneurial Moment: In 2004, Victor had just left his role with Tundra Semiconductor. Along the way, he learned to get involved in mergers and acquisitions, so he thought he’d do it for himself. He put together a team to carve out a division of IBM — they raised the money and then negotiated with IBM. It was important to do this by Q1 because of the loss that was happening in IBM. Two days before closing, IBM laid down their financial forecast for the year, which scared the private equity firm Victor worked with. The firm wanted more time to do their due diligence, but the senior executive of IBM said if the deal didn’t close in two days, they were going to be bringing in a competitor. Sure enough, the deal fell through.
[06:48] – Raising money in a hurry with a deadline is the most difficult thing in the world
[08:08] – Entrepreneurial AH-HA Moment: 7 years ago, Victor was presenting to a group of people at his mastermind. One of the guys in the room said that Victor’s gift was raising capital. That comment encouraged Victor to reflect on the art of raising capital, and he realized there are 5 keys to successfully raising capital: relationships, trust, results, a compelling opportunity, and perfect alignment between the money and the project
[13:29] – What is the one thing you are most FIRED up about today? “I love the project that we’re working on. I coach a handful of clients, and I really get a lot of energy from helping people learn how to do what my company is already doing successfully”
[15:09] – The marketplace now values authenticity more than anything
[18:34] – The Lightning Round
- What was holding you back from becoming an entrepreneur? – “As an employee, I was making way too much money”
- What’s the best piece of advice you’ve ever received? – “A good deal badly managed is no good deal”
- What’s a personal habit that contributes to your success? – “I decided I wanted to get much better on video, on camera”
- Share an internet resource, like Evernote, with Fire Nation – Calm
- If you could recommend one book to our listeners, what would it be and why? – The Speed of Trust – “it really unpacks the psychological contract in us and this book, if you read it, will change your life”
[21:39] – Make sure that all your relationships have a natural fit
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