My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

Starting a Business

How should I ask friends and family to invest in my startup without making things awkward?

min read
Opinions expressed by Entrepreneur contributors are their own.
First, prepare. Figure out what you will spend the money on and the repayment details. Once you have it all figured out, create a workable and detailed plan. Now you are ready to present this wonderful investment opportunity to your friends and relatives.

Phase 1--Send a blind email (Subject: Investment Opportunity or Investors Wanted) so that no one sees who else is on your "hit" list. Outline your plan. Do not ask directly for the money. Ask for investors. Invite questions, comments, and feedback. See if you get any bites.

Phase 2 - Directly (face-to-face) discuss your plan with anyone who demonstrates interest.

Phase 3 - Periodically, follow up with an email or letter. Keep your potential investors informed. If, however, you want the money more than you want to avoid making things awkward, ask (by phone or in person) for feedback.

Best,
Elinor Robin, Ph.D.

More from Entrepreneur

Kathleen, Founder and CEO of Grayce & Co, a media and marketing consultancy, can help you develop a brand strategy, build marketing campaigns and learn how to balance work and life.
Book Your Session

In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book.
Apply Now

Create your business plan in half the time with twice the impact using Entrepreneur's BIZ PLANNING PLUS powered by LivePlan. Try risk free for 60 days.
Start My Plan

Latest on Entrepreneur