![Founder Insights artwork](https://is2-ssl.mzstatic.com/image/thumb/Podcasts113/v4/e9/06/cf/e906cf0c-f078-6c65-bdc2-ea6b2759270b/mza_5655236358795650479.jpg/100x100bb.jpg)
Coach Mike: The Four Rules of Raising a Friends & Family Round
Founder Insights
English - August 27, 2019 17:13 - 28 minutes - 64.5 MBTechnology Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: Mindstorm Ep. 2: How to Identify and Solve Humanity's Largest Problems
Next Episode: Mindstorm Ep. 3: Manifestation and the Power of Thoughts
In this special episode - the second in our ‘Coach Mike’ series - producer Drew Zias is joined by Mike Suprovici (Founder Institute EIR). Together, they discuss the mechanics of raising a Friends and Family round. It's sometimes the first round of funding, and a round where much can go wrong. Mike lays out four critical rules to follow, to avoid those issues and secure early inside investors:
Do your research into what typical friends & family agreements look like.
Manage the investor's expectations. Let them know that this will likely fail.
Be transparent with updates & the progress of your company.
Don't allow the investors to add strange terms in your agreement.
For more insights from FI, subscribe to our newsletter at https://fi.co/subscribe/
If you have a pre-seed startup and you're looking to join an accelerator, apply at https://fi.co/join/podcast