I’m trying to raise a friends and family round to support a pre-revenue startup that is showing significant traffic in several areas, including development, pre-orders and partnerships. We’ve done a lot of work and we do see a clear path to success, but we’re ready to expand the team and kick into high gear.
Everyone is working for equity because it’s something that we all passionately believe in and are wiling to sacrifice for. But, we have almost no money to go on and without salaries, that fire only burns for so long.
I’ve had about 5 emails with my uncle, who is a pretty successful business man himself and has made several alternative investments into clubs and real estate, among others. We don’t really have much of a relationship, but it’s not like we’re on bad terms either.
I’ve made the pitch telling him about the business and its potential, and while it’s admittedly a bit wordy and maybe too emotionally based (i’ve just had a baby that finally carries on our family name), it’s overall a pretty well put together pitch. There is style, substance, facts and details to paint a rather strong picture. That said, he’s been barely responsive.
His last email told me to “drop the sales pitch”, that he doesnt have time for a phone call and to just send over the specific investment request by email and he’ll let me know if he’s interested.
My pride is telling me to just say, fuck him, to prove I don’t need him. But, I really am in a tough spot financially and I have to think what’s best for the business and my family.
I don’t want to be desperate and weak, but I wanna get that money. How should I proceed to better portray myself as someone worthy of his time and investment?