Episode 86: Objection! Why Investors Say No (and How to Get to Yes) | Story Snacks Series

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Most fund managers panic when investors push back.
They freeze. They fumble. And they walk away from capital they almost had.

Not because their pitch was bad but because they didn’t know how to handle objections with confidence.

In this Episode, Stacy is sharing her best tips for handling push back like a pro. She’s breaking down:

Why objections can actually be your best friend - and bring you closer to a yes - IF you shift your mindset
The most common investor pushbacks you need to be ready for (and how to flip them)
The underrated sales skill that turns “not sure” into “tell me more”
And what Eminem can teach you about owning the elephant in the room (so it doesn’t own you)

This is Story Snacks! A bite-sized, jam-packed series for fund managers who are ready to master strategic storytelling in less than 20 minutes per week!

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TRANSCRIPT

Below is an AI-generated transcript and therefore it may contain errors.

[00:00:00] Stacy Havener: We are going to address the elephant in the room question so that we can control the narrative. Once you get that common objection, you figure out how you've successfully resolved it in the past. You help Other clients deal with it in a similar fashion and you don't hide from it. Hey, my name is Stacey Havener.

[00:00:24] I'm obsessed with startups, stories, and sales. Storytelling has fueled my success as a female founder in the toughest boys club, Wall Street. I've raised over 8 billion that has led to 30 billion in follow on assets for investment boutiques. You could say against the odds. Yeah. Understatement. I share stories of the people behind the portfolios while teaching you how to use story to shape outcomes.

[00:00:52] It's real talk here. Money, authenticity, growth, setbacks, sales and marketing are all topics we discuss. [00:01:00] Think of this as the capital raising class you wish you had in college mixed with happy hour. Pull up a seat, grab your notebook and get ready to be inspired and challenged while you learn. This is the billion dollar backstory podcast craving more knowledge, but don't always have time to sit down for a five course meal.

[00:01:22] Take a quick snack break with story snacks. Bite sized content to feed your funnel. Each short episode features Stacey digging into one question. This series has her talking stories, sales, and so much more. Oh yeah, it's time for story snacks.

[00:01:42] What common hesitations or objections do prospects have when transitioning to investment discussions and how can we address them effectively? This is a very good question. I want to break this into like two phases. Okay. So phase one would [00:02:00] be, let's say you're a member of the collective and you're using all the great frameworks and you're doing give, give, give, ask.

[00:02:07] Maybe you haven't done a ton of research ahead of time, but you've made a friend. So great job. This is awesome work. And now it sounds like one way this question could be interpreted is like now I want to start talking about investments and I'm getting objections right at the get. Okay, so this is a qualification problem.

[00:02:26] Because what I'm reading between the lines here is perhaps you've made this great friend and now you're taught, you're sort of transitioning to the work component and they're like, actually, I don't really do that. I don't do what you do. So, for example, if you are a real estate manager, you've made a friend, you've done give, give, ask, you've met this great person, now you talk to them.

[00:02:51] Hey, like, you know, wondering what you guys are doing in real estate, like, is, are you adding, subtracting, like what's happening there? And they're like, actually, we don't use real estate. [00:03:00] Dun, dun, dun, like total buzzkill. That's just not good news. If you had done some of the pre qualification, pre call research, maybe you could have found that out.

[00:03:13] And maybe this wouldn't have been like a high priority lead for you. They could still be a great friend though, so like not all is lost, but I think a lot of the early objections, like you can't overcome that. And here's why, because you're introducing another sale. So now you're not trying to convince or sort of figure out if this allocator is a good fit for your strategy and firm, you're trying to convince them that what you do at the asset class level.

[00:03:48] Is a good thing. Okay. Too many sales, not worth the time at this point, let's move on. So don't try to overcome that objection. Do more pre call [00:04:00] research to figure out if this is even like a good fit. So that's like one option that this question could be pointing at. The other is more like later stage conversations.

[00:04:13] And you're getting an objection. And now what do you do? Okay, well if that's happening, now we're just in sales. This is like, it's not 101, maybe it's like 301. Overcoming objections. This is gonna be like case by case. So really asking questions. One of the most underrated sales skills ever. Ask questions.

[00:04:34] Tell me more about that. Tell me what you don't like about the strategy you're in now. Ask, ask, ask. Get them talking so you can really get to the root of the issue. And then put yourself in their shoes and try to help them solve it. The trick here is, it's very one on one the first few times you get that objection, but If it becomes an objection that you hear more [00:05:00] frequently, then I want a little bell to go off that this is something that you might be able to sort of templatize or make repeatable.

[00:05:09] What I'd like for you to do is go to a deal that you've worked on, where that objection was present, and really look at how you overcame it and got the investment. And then I want you to codify that as an FAQ, as something, and really make sure that everybody on your team knows that when we have this objection, here's how we've helped other clients think it through and have those impact stories as well.

[00:05:38] Um, one additional thing on that, the elephant in the room. Okay, once you've realized that this question is an issue that comes up a lot, you cannot hide from it. You cannot put your head in the sand, fingers crossed in a meeting, hoping that this prospect does not ask this question, [00:06:00] no. We're taking the M& M playbook from 8 Mile where we are going to own the discs, okay?

[00:06:06] We are owning the discs. We are stealing your thunder. We are going to address the elephant in the room question so that we can control the narrative. So all of this is related. Once you get that common objection, you figure out how you've successfully resolved it in the past. Other clients deal with it in a similar fashion, and you don't hide from it.

[00:06:32] You M& M that and steal their thunder. Hope that helps. Are you an investment boutique looking to grow your business and need a little help? If you feel like you're fighting for the spotlight and, well, still stuck in the shadows of the bigs, join us in the Boutique Investment Collective, Havener's new membership community dedicated to the specialist in the investment industry.

[00:06:55] In the collective, we'll guide you through the billion dollar blueprint we've used to help boutiques add [00:07:00] over 30 billion in AUM. You'll refine your story, focus on your ideal target market, and practice your pitch. You'll rethink your marketing materials, rewrite your emails, and refresh your differentiators.

[00:07:12] We'll even help you step up your LinkedIn game and give your profile a makeover. You want to grow your biz, we've got your back. Learn more about The Collective, the curriculum, and the amazing coaches who will help you on your journey. Visit havenercapital. com slash collective. High five! Hope to see you in a coaching session soon.

[00:07:38] This podcast is for informational purposes only and should not be relied upon as a basis for investment decisions. The information is not an offer, solicitation, or recommendation of any of the funds, services, or products, or to adopt any investment strategy. Investment values may fluctuate and past performance is not a guide to future performance.

[00:07:57] All opinions expressed by guests on the show are [00:08:00] solely their own opinion and do not necessarily reflect those at their firm. Manager's appearance on the show does not constitute an endorsement by Stacey Havener or Havener Capital Partners.

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