how to ask your friends for money & stay friends
TRANSCRIPT
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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.
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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
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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.
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