How did Thomas attract investors to his small business bank?
Short answer: Thomas said early backers included prospective board members and a founder group. He connected the bank's small business mission to his own childhood jobs, then followed up with progress and updates on the team he had recruited.
In a Family Office Club hot seat discussion, Richard C. Wilson speaks with Thomas Inserra, Integro Bank's CEO, about its capital raise.
Thomas said backers connected with the mission
Thomas said the first groups included people slated for the board and a founder group. He found that investors connected with the mission of helping small businesses grow and increase employment. (at 9:22)
Thomas shared how small businesses shaped his life
Thomas told investors he was the first in his family to graduate from college and had worked small jobs as a child and teenager. He said those jobs at small businesses transformed his life, and that sharing this story resonated with people. (at 9:50)
Thomas kept following up after refusals
Thomas said every backer initially turned him down at least two or three times. He kept checking in, shared progress and successes, and showed the people he had recruited to the team. (at 10:18)
Thomas said most outreach happened online
Thomas said 90 percent of the capital was raised without meeting face to face. He used email, Zoom, and phone calls, with some local coffee meetings. (at 11:41)
"Every one of them turned me down at least two or three times initially."
From Richard's exclusive Billionaires.com interviews
Lessons from Richard C. Wilson's one-on-one interviews, as published on each interview page.
- Michael Lee-Chin: Learn from the best role model. Find the best role model in the world and ask how they did it. Then follow their recipe exactly without changing it.
- Serg Bell: Success comes from many decisions. He does not see business as one winning bet. He sees it as a long game, like poker or bridge, built on many smart choices over time.
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Frequently asked questions
How did Thomas attract investors to his small business bank?
Thomas said early backers included prospective board members and a founder group. He connected the bank's small business mission to his own childhood jobs, then followed up with progress and updates on the team he had recruited.
Could investors use an IRA?
Thomas said investors could open a new IRA online or use an existing IRA to invest IRA proceeds.
What came with a $25,000 investment?
Thomas said investors putting in at least $25,000 would receive complimentary membership in the CEO club.
Sources
Quotes are copied from the video captions and checked against the transcript. Timestamps link to the moment in the video. General information only, not legal, tax or investment advice.