David Adefeso is telling his fans that an angel could be their salvation. Check out his post here.
‘The easiest, and usually the best place, to raise money for your new business is from Angel investors — this could be a professional Angel, but more often it starts with family and friends,’ he began his message.
View this post on Instagram
‘Like real Angels, they know you, they trust you, they love you, and they want to see you succeed. Run the idea by them and make them a minority partner/shareholder (I mean like low single digit percentages or less) in exchange for providing the capital you need,’ he continued.
David also said: ‘They will now start rooting for the business and some may even have certain skills that they can contribute for free, like accounting/bookkeeping, computer programming or sales/marketing.’
‘It will also inspire you to work harder and climb higher mountains to make your business a success: No one wants to lose their mom or sister’s money! The family and friends interest in the business should be what we call “limited shares” i.e. they have no control over any of the operations or say in how you run the business,’ he said.
David continued and said: ‘Also, don’t forget about two very important agreements for when you have investors or employees: A non-disclosure agreement and a non-compete agreement. Everyone must sign one. This will make sure no one steals your idea and uses it for their own benefit.’
David Adefeso just shared an important and uplifting video on social media.
‘Life often works in mysterious way. It often throws us curveballs when we least need them. Things get complicated when they could be so simple,’ David began his message.
‘During such times, it’s easy to be discouraged and give up however that’s when you need to do the complete opposite. Stay ready for the opportunity, keep working hard even when the work is not getting recognition/or bearing fruits as we envisioned.’