Initially, I found it difficult asking friends and family for investment but it became easy when I realized that my friends and family will learn how to invest, I provide them with a good ROI like 15%. This is a prime opportunity for them to learn about startups, they find it extremely interesting watching you grow. The problem is when you run out of friends and family willing to jump in!
Create an Investor List; added their names, loan amount and date. I will plan a annual dinner for investors only, those who helped me at the start when I needed them most! You will also learn more about your friends and family, it maybe eye opening!
Now seeking partnerships; industries wanting to diverse and develop new sales, suppliers for our patent dispensing system: stainless steel, tablet, tech, sensors and construction companies. Entice suppliers with 4 revenue streams selling: 1) brand name products commercial/retail via our system, 2) franchises, 3) systems only and 4) systems within building models.
Lastly, time to generate ongoing revenue via a book and research development via innovation network.