In this special episode - the second in our ‘Coach Mike’ series - producer Drew Zias is joined by Mike Suprovici (Founder Institute EIR). Together, they discuss the mechanics of raising a Friends and Family round. It's sometimes the first round of funding, and a round where much can go wrong. Mike lays out four critical rules to follow, to avoid those issues and secure early inside investors:

• Do your research into what typical friends & family agreements look like.
• Manage the investor's expectations. Let them know that this will likely fail.
• Be transparent with updates & the progress of your company.
• Don't allow the investors to add strange terms in your agreement.

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