(Posted 514 days ago)

Do's and Don'ts:

Do not ask any friend or colleague to invest unless you know that the amount of money will be meaningless to them. That is a tougher standard than what Gordon recommends (seasoned investor). Startups are high risk and you don't need the added pressure of worrying about your friends' or family's finances being affected by how yours is doing.

This is one I would kick off with email instead of in person. Give them the opportunity to decline gracefully.

Say This:

I have an idea for a new business and am talking to investors about it. [Do a one-sentence on what the business is.] If you are interested, I would like to discuss it with you, but our relationship is more important to me than any business. Please let me know if you want to hear more.