This article was originally published on Business Insider.
This as-told-to essay is based on a conversation with Kevin O’Leary. It has been edited for length and clarity.
I’ve been asked countless times about what to do when family members come looking for money. It’s a very complex issue because you don’t want to disvalue your brother, sister, or cousin.
But when it comes to mixing family and money, it’s often a bad outcome. My extended family comes to me for money all the time. Through much trial and error, I’ve developed a very simple strategy. Ultimately, it’s the only way I would recommend approaching this situation — it’s really the only
→ Continue reading at Entrepreneur