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Why I Don’t Work on Success Fees for Fundraising Deals

I’m often surprised by how many people ask me to help them raise money for free, only getting paid if they succeed. Even though I’ve written hundreds of articles explaining why this isn’t a good idea, people still ask. Let me explain why I don’t work on success fees.

Raising Money Takes Time and Effort

Raising money for a project or business isn’t easy. It takes a lot of time, hard work, and planning. No one is going to help you raise millions of dollars for free. Expecting someone to do all that work without getting paid upfront is unrealistic.

Legal Problems

In many places, it’s illegal to pay someone only if they succeed in raising money for you. This is because it can break certain laws about how money is raised and who can help raise it. Getting involved in something illegal can cause big problems for everyone involved.

Show Your Commitment

If you don’t have at least 25% of your own money invested from friends, family, and people you know, why would strangers want to invest in your project? When you put your own money into something, it shows that you believe in it. This makes other people more likely to invest, too.

The Value of Professional Help

Professionals who help raise money are experts. They have spent years learning and building connections. They deserve to be paid for their hard work and knowledge. Asking them to work for free isn’t fair and doesn’t respect their expertise.

Be Realistic About Raising Money

There is no free, easy, or guaranteed way to raise money. You need a good plan, a convincing pitch, and your own money invested to have a chance at success. If you think you can get money without effort, it’s time to think again.

Instead of seeking free help, consider the value of paying professionals. This can greatly increase your chances of success. It’s an investment in your business’s future.

A Final Thought

If you aren’t willing to invest in your project and expect others to work for free, you might need to rethink your approach. Raising money is a serious business, and you must be serious about it. Otherwise, you might need to look for other kinds of work.

By understanding the realities of raising money, you can set yourself up for success and build trust with your investors.

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