how to ask your friends for money & stay friends
Post on 17-Jul-2015
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1. SET EXPECTATIONS LOW
Think of it like a Scratchcard lotto game. Even though
they believe they can afford to lose the money when they
invest, their � nancial situation may be very different 12
or 24 months out.
2. DON’T GIVE ANY INFLUENCE IN RETURN. People are unsophisticated in this area. Don’t provide
insight into the business. Don’t give them in� uence. If
you succeed the last thing you want on your capitalization
table is a bunch of unsophisticated investors with
in� uence
3. PREPARE YOURSELF MENTALLY FOR DISAPPOINTING A LOT OF PEOPLE. Even if you have succeeded in setting expectations low
you will still disappoint people. And you may ruin a lot of
relationships. Prepare yourself for that—and don’t do it
if you cannot live with that.
Get practical advice for your startup, from the three guys
who risked everything to turn an idea into a global business.
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LEARN MOREstartupland.com#startupland
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