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Becoming Backable: Suneel Gupta on What Makes People Take a Chance On You, Key Strategies to Win Over Investors, Building Conviction and Mastering the Art of Story Telling
No one makes it alone in this life. We all need people to say "yes" to support us and to back us. But there is a reason why some people can get others to believe in them, to invest in them, while others cannot. And that reason has little to do with talent, connections, experience pedigree, or even a perfect business plan.
Backable people seem to have a secret quality that inspires others to take action and take a chance on them and their potential.
So, what is this "it-factor"? And can it be learned?
This is a crucial question.
It is more important than ever to be backable in a world that is speeding up. It is more important than ever to not get left behind, especially in a time where millions will be reentering the workforce or changing their career and life direction after the pandemic.
My guest today has an answer to this question. Suneel Gupta teaches innovation at Harvard University and is the author of the book Backable: The Surprising Truth Behind What Makes People Take a Chance On You.
Suneel is also the founder of the telemedicine startup Rise, and his ideas have been backed by firms like Greylock and Google Ventures.
He himself has invested in startups, including AirBnB, Calm and Space X.
Suneel also serves as the Emissary for Gross National Happiness between the United States and the Kingdom of Bhutan.
In my conversation with Suneel you'll learn
02:35 Suneel‘s journey going from being the "Face of failure" in the New York Times to being named „The Face of Innovation“ by the New York Stock Exchange Magazine. From getting rejected by every single investor he pitched to, to raising millions of dollars.
06:51 What it means to be backable and what the qualities of backable people are
09:34 The Incubation Period for new ideas and why it is so important
12:25 Suneel’s favorite tools for honing new ideas and building conviction
13:47 Steering into objections and how it strengthens your pitch
15:59 How to overcome the “I’m not ready” voice inside you and get your idea out there
18:28 The concept of the 4Cs: the four types of personalities backable people have in their circle of friends that help them excel
25:28 The importance of casting a central character and mastering the art of story telling before you pitch your idea to investors
29:23 How to neutralize any potential fear decision makers and investors may have by making clear that your idea is inevitable
34:22 The key traits of an effective leader and how to optimize leadership skills
37:54 The most important business skill of 2021
40:26 The huge cost of not being backable and getting your ideas out into the world
43:30 Playing The Game of Now
48:58 Suneel’s practices
Resources mentioned:
Twitter @suneel
