February 1 2008

One thing I have learned is no matter how good your idea is, someone be it a friend or a family member, is going to tell you how bad it is. One of your biggest threats, are the people you know. Perhaps it is because they feel they know you better than you know yourself, maybe they have seen your track record, it might even be jealousy.

We are taught to always love our family and friends, but realize sometimes they will not be the person you need to talk to about your idea. If you must tell them something, tell them as little as possible, and then you don’t have to be worried about being shot down.

Now the other side of the issue, one of your easiest ways to raise money is your friends and family that said, you might want to get all your ducks in a row before you ever approach them. Now I am assuming you have at least started a business plan, a simple and concise plan that lays out your idea and where it is going. Before you ever worry about incorporation or building a prototype or anything else, set your goals down on paper. You will always be taken more seriously if you have a plan, and it will help you set your mind in the direction you are heading.

Believe me it is embarrassing to be ask a question you don’t have the answer to. As the old saying goes “been there done that and got the t-shirt to show for it”