Raising Funding From Family and Friends
b'For family and friends funding -- no one is getting paid back Today, we\\u2019ll talk about raising funding from family and friends Many startups launch their business with family and friends funding. Some entrepreneurs are often reluctant to take money from their family because -- well Thanksgiving turkey tastes different if things don\\u2019t work out. On the other hand, investors view funding from family and friends as an indicator of support.\\xa0 After all, if your family and friends don\\u2019t believe in you why should they. My recommendation is to go to family and friends and ask for no more than $5K per person and tell them it\\u2019s a donation.\\xa0 No one is getting paid back.\\xa0\\xa0 Most family and friends funding comes from those who want to support you and don\\u2019t look for a return.\\xa0 This also alleviates the challenge of valuing the business at such an early stage. If the business does succeed you may want to give back by offering $5K for one of their projects.\\xa0 Thank you for joining us for the Startup Espresso where we help startups and investors connect for funding. Let\\u2019s go startup something today!'