#036 Problems and Solutions

The common challenge for borrowers is not being able to meet the deadline. Now, what do you do if you can’t pay back in time? Don’t panic and stay calm! On today’s episode of How To Raise Money Podcast, Ray gives you tips and strategies to find the best solutions to your energy-draining crisis. Learn how to do the first step: finding the root cause so you solve the real problem. Taking actions carelessly might worsen it so learn how to distinguish assumptions from facts. Then, discover how buying yourself time and creating options for yourself can help you arrive at sound decisions. Remember to not rush into things, make sure you’re in the right mindset and you have all the information you need. KEY TAKEAWAYS "Solving the wrong problem can only make things worse." Find the root first cause before solving a problem. Don't let your emotions, assumptions, opinions, or bias get ahead of you. We stop thinking critically when we let emotions win. Change the problem into a question. What can I do that will have the greatest impact? What would a wise person do? What's the best way to solve this problem? Approach it through a contrarian's view. Do the opposite. Study the pattern because the solution might reveal itself. Look at the track record of the clients. Were always delays beforehand? "If you're running a business, you must be cautious about deleting opinions, including your own." Always look for the facts. It's much easier to make sound decisions. Facts are not necessarily the truths. Facts can lead or mislead you to the truth. Treat facts and the opinions parts of the puzzle so you could arrive at the truth. In any crisis, the first thing you look at is time. Don’t rush yourself in making important decisions. Take your time and don’t let other people influence you in doing something. The second thing is to look at your options. Don’t avoid the problem and just walk away. You have to face it in the best way possible. BEST MOMENTS "When you have an agreement, you need to do everything you can to make good in that agreement and to pay it back." "As long as your heart is in the right place and that is what you want to happen, then everything will be okay. it's really the question of communication." "Before you try solving any problem, you need to ensure you're calm and collected. If not, you have to allow yourself time." "In order to solve the right problem, you must discover the truth. Without truth, your actions will be based on assumptions which can be a recipe for disaster." VALUABLE RESOURCES Mark Homer ABOUT THE HOST Ray McLennan is a keynote public speaker and former corporate solicitor who has many years of experience owning and operating a variety of businesses in the UK and Ireland. Ray is the Regional Manager for Scotland & Ireland for Angels Den, which has over 13,500 high net worth Angel investors that help to find funding for property and SME businesses. Ray also helped to create Property Angels Den (PAD) in Sept 2014, which matches High Net Worth Investors with property proposals of all sizes. PAD now meets regularly and has funded dozens of property projects all over the UK. CONTACT METHOD [email protected] https://www.nigeltbest.com/ co.uk