Family and friends to invest in a business can be a complex situation to navigate, requiring both personal trust and professional approach.If things go wrong, you may lose your relationship with the people who are most important to you. Here are some steps for getting it right.
1) Establish a sound SFI business plan: This must show how the effort and money will be used and how you expect the business to perform. You need to treat your family and friends with as much respect as you would given other affiliates and downline,after all they are taking a risk and showing that they believe in you.
2) Set clear payment terms: Be clear about spending and profit sharing plans. For example you can reduce the price of S-Builder co-op by splitting the cost of a co-op unit.
3) Specify that SFI is not an overnight success: May be your friends and family members will agree to assume the risk of losing their investment. Spelling out the terms in advance will help to avoid recriminations later.
4) Keep the lines of communications open: If you give constantly posts about SFI, TripleClick and Share-IT in Facebook, Twitter etc.. definitely your family and friends will curious about it. Thats the right time for approaching them.
5) Be helpful: You can provide Gift Certificates to your family and friends to make purchases from TripleClicks in order to attract and convince.
Sourcing money from Friends and Family can be a great way to get your business off the ground or to help it reach new levels of success. With careful planning, it can be a win win deal for everybody.
Thank you.
less
Family and friends to invest in a business can be a complex situation to navigate, requiring both personal trust and professional approach.If things go wrong, you may lose your relationship with the people who are most important to you. Here are some steps for getting it right.
1) Establish a sound SFI business plan: This must show how the effort and money will be used and how you expect the business to perform. You need to treat your family and friends with as much respect as you would
...
more
