Subscribe to Entrepreneur for $5

Get It in Writing

If your family decides to invest in your business, you'll need a contract.

Opinions expressed by Entrepreneur contributors are their own.

When borrowing from friends or family, don't forget to putit in writing. Make sure it's clear exactly how much money youneed, what you'll use it for and how you'll pay it back.And draw up a legal agreement stating that the person will indeedput money into the business.

Excerpted from Grow Your Business

Entrepreneur Editors' Picks