Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing.
In raising funding you will hear “no” from investors a lot.
When I say a lot, I mean it’s more than most entrepreneurs think.
I know one entrepreneur who made 50 investor pitches before he received his first “yes”.
For some startups they perceive this as a negative and after a while it can wear them down.
Hearing “no” is not necessarily a bad thing.
Instead of hearing “no” and thinking “they don’t like the idea”, consider it as guidance on how to make the business better.
When you hear “no”, ask what they would do to improve it.
Gain their feedback and guidance on how to position the deal, how to present it, how to run the startup.
You’re not bound to use every single suggestion, but you will learn a great deal and your business will certainly be the better for it.
You could consider it free consulting.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.
Let’s go startup something today.
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Copyright (c) 2020, Hall Martin and investorconnect.org. All rights reserved.
Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.