There is one responsibility of all business entrepreneurs that is loathed more than any other. It’s asking for money. First off, you have to find financial resources and then you have to ask for money. This article is dedicated to finding money and how to ‘ask’ for the money from a family member. It is easier than you think.
Family members willing to supply the necessary capital it takes to get a new business off the ground and running are an essential piece of the overall equity position of most small businesses. Their expectation is different than that other types of investors. There is a risk/reward concept here that you need to understand when having family investors.