Anyone have any specific recommendations they can give for raising a friends and family round of financing? I'm wondering about the usual approach about how much equity to give and what the valuation would be since obviously the business is going to be in an early stage. Any advice is greatly appreciated.
You might want to look into convertible notes, I hear they're rather fair and help you dodge that issue until the next round of funding.
They're also pretty much standard for seed funding in SV from what I've read.
I think the whole "skip the valuation" part is a major improvement, so the Business Angels (or your family) only have to answer one question: does this business have a good shot at succeeding ?