Published:
01/26/2014 04:06am
How to Ask for Support From Friends and Family - And Why You Should!
The most important thing you need to have clear before you approach loved ones for any kind of funding is your big vision. And you need to know it inside and out, and be able to describe it well. You need to be able to clearly convey your big vision to your family, friends, or anybody that you're going to be asking for support.
Why? Because they need to be able to SEE that big vision in order to be willing to confidently invest in your future.
Maybe you want to leave corporate law and start your own practice that's dedicated to the little guy. Maybe you have a small practice that could be expanded if you had some capital-giving more people jobs, and you more free time. Perhaps your vision is to really take care of families, and be the go-to lawyer in your area. Or maybe you're seeking to build the kind of firm that is sustainable, and an asset that can be passed down or sold, down the road.
Whatever you big vision is, you have to be able to describe the value it will provide. And, more importantly, you have to come into right alignment and in integrity with what's true for you. Let me give you that new definition of integrity. I used to believe that integrity meant doing what you say you're going to do. It's a pretty standard definition of integrity. That's not the kind of integrity that we're talking about today. The kind of integrity we're talking about today is the kind of integrity that is right alignment between your words, your thoughts, and your actions. When you have that kind of integrity, you can go to a family member or a friend and ask for financial support without feeling any sort of shame, guilt, or fear.
Now, you might still feel it, but you can remind yourself that, "Oh, I come in integrity. I'm not trying to get anything. I'm actually asking for this so that I can give more to the world." And when that's your "come from", when your "come from" is giving more to the world, it's very hard to say "no" to that. If somebody has the resources and they're in alignment with your integrity, they're very likely to say "yes".
And so, I invite you into that space where you get into integrity with what you actually want, that you're not trying to get anything, that what you're really looking at is how you can give more value in the world.
Why You "Should" Ask
Think about it from this perspective. Right now, anybody that has any wealth is really at a loss for what to do with that wealth. There are no great investments out there right now, certainly none that are safe, right? Bank accounts aren't paying very much money. CDs, maybe you can get 1%. Treasury bonds, municipal bonds-these are the safe investments-they're not paying much return at all.
So, if you can make the case to be able to provide a better return on investment dollars not just financially but holistically, then you're actually doing the people in your life who have money a favor. You're giving them the opportunity to feel really great about how they're using their resources, how they're using their resources not just to earn a profit, (which they could very well do if they invest in you) but also to make the world a better place, to improve the world for future generations.
And if you are a child of one of these folks, they'll want to invest in you. You can be the best investment that they can possibly make not only for your future, but for their future as well. You're going to make the world a better place for them, too.
How to Convey Your Vision
Traditionally, in order to raise investment capital, not from family and friends, but from investors, you have to lay out the exact big vision. You have to know and present exactly how these investors are going to earn back not only what they give you, but much, much more-including how much they'll be able to sell for in the future (their exit plan).
It's different when you're going to family and friends. When you're going to family and friends, they're really investing in you. They're investing in their belief in you. They're investing in your energy. They're investing in
