Investing & Financing: Approaching family members for seed money

I am very cautious about asking anyone in my family for seed money.

I would rather go through traditional channels then to ask my family for money. Because there can be bad feeling in the future if something happens. I also don't want my family looming over me for money.

I don't think any special approch is nessecary with family. They are great to bounce your idea's off of because they will have no problem telling you the truth about your idea!

Just a personal preference for me not to borrow from my family.

I've never asked a family member for startup funding, but I have worked with a client who's business was entirely family based.

It causes an insane amount of stress and no matter the outcome of the business, isn't worth the risk that is placed on the relationship.

More importantly, a family member will never tell you that you look like a freak with that hat on your head. Same with business. They'll never tell you if your idea is stupid, nobody's going to buy it, etc....

If you really, really, really need funding, go to a bank, use a credit card, roll your coins. Bootstrap the hell out of it and think about what you can get done with what you have as opposed to what you think you need.