I would do a small friends & family round pre-revenue. E.g., 8 friends and family @ 12.5K each = 100K. I don't mind if my success makes my friends & family some money.
But I'll sure feel bad if I take their money and lose everything. Perhaps that would be motivating...
(Note: where I live (BC, Canada), the provincial government offers a refundable 30% tax credit for investments like this, so if I did lose everything, friends & family would only be out 70K).
But I'll sure feel bad if I take their money and lose everything. Perhaps that would be motivating...
(Note: where I live (BC, Canada), the provincial government offers a refundable 30% tax credit for investments like this, so if I did lose everything, friends & family would only be out 70K).