5 Ways To Support Your Friend’s New Venture if You Can’t Invest

So, one of your best friends started a new venture but you are not in a financial position to invest monetarily. Fear not, as there are a plethora of ways you can show sincere support without overextending your cash resources.

Here are 5 ways to show support to friends with new ventures without breaking the bank:

1

Using LinkedIn or wherever you keep your professional database — create a list of people within your network who you feel could add value to your friend’s business. Take a few minutes to develop a super simple excel sheet with the contact’s details and shoot it over to your buddy. For an entrepreneur, relationships can be way more valuable than any dollar amount. 

2

Now that we live in a social media driven society, showing love by sharing your friend’s business has never been easier. A simple Like on a Facebook post or Retweet on Twitter could go a long way. To produce the most impact, create a short video explaining why you’re so excited about your friend’s new business, and share it across your network. Someone who can be a growth catalyst for your friend may be on the receiving end of that video.

3

While scrolling through your Instagram feed, you see a pitch contest or grant opportunity that speaks directly to your friend’s venture – be sure to share it with them! It takes about 5 seconds to create a screenshot and send a text message, but that one message could change the whole game for your comrade.

4

One of the best things you can do to support your fellow compadre is by simply showing up. If they are hosting an event, try to show face, even if you can only spare a few minutes. Time is exponentially more valuable than capital, so this gesture shows that you are committed to the friendship.

5

Did you know that 1 in 3 entrepreneurs suffer from depression? Starting a business from scratch can be one of the most rewarding yet daunting tasks anyone can pursue. The nights are long and the days seem endless. It can be draining not only physically, but more importantly, mentally. Many business owners simply need support in the form of a lending ear. One of the most impactful things you can do as a friend is to check-in via a quick call to find out how they are doing in their business. Let them know that although you do not have the capital to support, express that you are ready, willing, and able to help out in other ways. This small show of appreciation could be the difference between life and death – no exaggeration.

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In conclusion, do not feel bad that you are unable to provide financial support to your friend’s business because at the end of the day, you must place your survival at the top of your priority list. At the same time, if your friend has supported you in the past in any way, you can surely lose them if it is not reciprocated. Human connectivity is why we are on this planet, so as the incredible Bill Withers has said, make it a point to tell your friend to “Lean on me”.