Comments on: Are Friends The Best Source of Capital? – Entrepreneur Poll Update http://www.youngentrepreneur.com/blog/2008/05/are-friends-the-best-source-of-capital-entrepreneur-poll-update/ Fri, 20 Nov 2009 21:18:36 +0000 http://wordpress.org/?v=2.8.4 hourly 1 By: zowoco http://www.youngentrepreneur.com/blog/2008/05/are-friends-the-best-source-of-capital-entrepreneur-poll-update/comment-page-1/#comment-58704 zowoco Sun, 18 May 2008 14:00:17 +0000 http://www.youngentrepreneur.com/blog/2008/05/16/are-friends-the-best-source-of-capital-entrepreneur-poll-update/#comment-58704 Borrowing from friends and family can be a cop-out on a business venture that is weak and not properly planned out. Venture Capital, perhaps from a select group of doctors and dentists, or small business owners, or even bank managers, or best of all, an investment club, should be the long term goal. If these people like your plan, it is a good plan. Your friends and family usually only want to humour you. Plan carefully, ask people who have been there before and think carefully whether now is the time for this venture or whether you would be wise to wait a year or two. A really good business idea will ripen with maturity so do not be over eager to jump in! Take your time, gather advice, source the people who will be ideal to assist your project. Borrowing from friends and family can be a cop-out on a business venture that is weak and not properly planned out. Venture Capital, perhaps from a select group of doctors and dentists, or small business owners, or even bank managers, or best of all, an investment club, should be the long term goal.

If these people like your plan, it is a good plan. Your friends and family usually only want to humour you. Plan carefully, ask people who have been there before and think carefully whether now is the time for this venture or whether you would be wise to wait a year or two.

A really good business idea will ripen with maturity so do not be over eager to jump in! Take your time, gather advice, source the people who will be ideal to assist your project.

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