The Irrational Investor

Nick Fellers | October 24, 2008

In my experience, maybe 1 out of 40 prospects will be completely irrational. He or she will ask off-the-wall questions – to which ‘coming out of left field’ would be an understatement. The prospect may even appear to be apathetic toward making a difference (at all/ever)… or maybe on a power trip. This is The Irrational Investor.

Many people spend A LOT of time (years?) prepping for The Irrational Investor. That prospect keeps you in your office planning, prepping, scheming, waiting always until tomorrow.

“What if they just aren’t into saving lives?” (are you kidding me?)
“What if they want to see our financials from seven years ago?” (they’re making run a fool’s errand)
“What if? What if? What if?”

Stop focusing on the irrational investor.

Like an exotic animal, the Irrational Investor DOES exist. However, you cannot and should not be focusing on 1 out of 40. You need to focus on the other 39 — RATIONALE investors – the prospects (individuals/corporations/foundations) that want to save lives, change lives and impact lives… the prospects that want to have real conversations… with YOU.

Think about it:

You’ll never have enough info: Seriously, even if you came back with the 3rd quarter financials from seven years ago you would then be asked for something else crazy. You’ll never have enough for an irrational investor so don’t even try.

Opportunity cost: Assuming you are doing something to change the world then how many families are missing out on your programs? Students missing out on an education? Or, advances toward a cure? Why does the irrational investor get to hold everything up?

Laugh it off: On the VERY RARE occasion that you do come across an Irrational Investor just laugh it off. Make your presentation, get a good story from the visit and then keep follow-up really simple…

“We become what we think about”: What a miserable life it is to think about The Irrational Investor. So don’t.

This concept is freeing for many training camp attendees. If the Irrational Investor is holding you up, let me offer an assurance (again): just about everyone you meet with be and act like a real person. They don’t bite. They want to have an impact. They’ll love the logic of your presentation and help if they’re qualified (… if you ask).

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Tags: act now, attitude, planning, prospect strategy, the presentation

Steve Elder - October 24th, 2008 3:12 pm

So TRUE. So RATIONAL. Thanks for the reminder! This same effect can be true of comments from board members and other volunteers that are “off target.” We can spend way too much time and energy running down suggestions that don’t help us fund our vision.

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Nick Fellers reply on October 27th, 2008 2:22 pm:
True. True.

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Karin VanZant - October 26th, 2008 6:17 pm

Thank you for taking time to address this last week in Training Camp. I have been letting the notion of an irrational investor keep me from sharing my vision and impact of Think Tank for three years. I have never let anyone hold me back, and instead of just facing it I have created this monster of someone in my mind that I most likely will NEVER encounter. Thank you too for your guidance on the Ideal Investor… this will help us keep those who have similar passions always on our list of prospects. I really appreciate all I learned this week… but this was by far the biggest lesson that I needed to experience. Thanks Nick, Tom and Kerry!

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Nick Fellers reply on October 27th, 2008 2:24 pm:
Great to have you with us.

Don’t worry about the ‘tough visits’… if you follow the framework you won’t have many of them. Most, if not all, will be a very positive experience.

Being out in the field you will also continue to get better, make more connections and create more income (for your impact). It’s a self-feeding cycle.

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Janice - October 27th, 2008 9:23 am

How do we recognize this irrational investor? I don’t want to assume that anyone who asks a question that “I” might think is irrational should be ignored. Please provide some clarification for me. Thank you.

P.S. Have you set your 2009 Training Camp dates yet?

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Nick Fellers reply on October 27th, 2008 2:21 pm:
Janice – I guess I would say it’s one of those things, “You’ll know it when you see it.”

Supposing you don’t…

- Debrief with others after the visit. (for added perspective)
- See where it goes. Don’t get very far along without at least asking for something (a leadership society investment or commitment of some type)

2009 dates should be released later this week. We’ll announce here and in the wow email.

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