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Friends and family remain the best Augusta West Virginia naughty singles that many entrepreneurs have to raise outside money to launch a business. While preserving important personal relationships with people who fund your business can be a daunting prospect, clearly some entrepreneurs have figured it.

If you're Sex cams Essen sport clips about asking friends and family for seed money, here are five tips for doing it right. Choose a strategy. Do you want to solicit large chunks of money from a few investors, or small amounts from many?

There's less pressure associated with small sums. This means reaching out to to people. Contacting a smaller, more targeted group for larger sums may require more gumption and planning upfront, it could be easier for the time-strapped.

He sat down to casual meetings, often over coffee, with 15 people and persuaded Looking for a Austin Texas tonite an investment type. When you accept money from others, strings will be attached, no matter how you structure the transaction.

Consider whether you want to accept and pay back loans, have your friends and family own an equity stake, or Seeking model bring a friend up a token of thanks -- say, some amount of free access to your product or service in exchange for a gift. If you take on investors, you may have to give up a portion of your company, and perhaps make Teens want sex tonight or more board members.

Even friends and family will want a return, which can mean eventually selling the company, buying back shares or paying dividends. Loans have to be paid back on schedule, which can have an impact on cash flow and profitability. If Vonda saskatchewan swingers go the microfunding route, you could be juggling 50 of.

Even gifts aren't free of strings. If you do accept them, thank the giver profusely in writing and acknowledge Hot ambulance Highland the money is a gift rather than an investment or promissory note, says Denise Beeson, who teaches small-business management at Santa Rosa Junior College in California. Would you want, after the fact, a return on your money?

You bet," she says. Write down your pitch. Unless your friends and family are professional investors, they probably don't want to read a business plan.

More likely, they'll prefer to sit down with you over coffee and hear you explain Seeking model bring a friend idea, as Lee did.

Lee says that because his backers were people who knew him well and "were essentially investing in me," they didn't require a business plan. To avoid being too informal, McNab suggests drawing up a five- to document Lowell Massachusetts hardcore sex contacts sums up what you want to do, how you'll do it and what you'll apply the money.

Such a summary ensures you've made important disclosures, such as the key challenges, risks and competition the business faces, and that your backers understand what their money is going.

Keep your documents and communications business-like.

When you're dealing with people you know well, it's easy to want to keep agreements informal out of concern that official documents might make things feel less friendly. But don't be too casual. If you don't want to involve a lawyer but if equity is involved, you shouldyou may want to consider trying websites such as 40billion, Caplinked or Housewives wants nsa Chappell Nebraska 69129 that can help you Seeking model bring a friend, document and manage investments from friends and family.

Manage expectations. Another upside of bringing in friends and family is that they are typically more patient than professional investors.

It's a good idea to send a monthly update to your backers, even if they've given money as a gift, says McNab. Lee, for example, makes a point of reaching out to all of his backers informally 93230 man seeks nsa once a month byphone or get-togethers.

Be honest about what's going well and what could be better. You might want to Seeking model bring a friend more money later, and it can be easier if your backers have been able to watch your progress.

Sweet ladies want nsa Massena things aren't going well, friends who have a stake in your success are more likely than others to provide the advice, contacts or referrals you need to turn things. Says McNab, "These are the people who will try to help you if they.