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Think you’re onto something BIG, and surprised you’re receiving so many NO’s from investors?
It can really make you second guess yourself, and shake your confidence…
… but it shouldn’t!
Receiving a LOT of NO’s is natural.
You may be tempted to listen to the feedback after receiving some NO’s and think you just need to launch your product, change your business model, or grow your customer base, and then you’ll be more attractive to investors.
Guess again.
The reason you receive for the NO and the feedback you get may not be aligned.
Why?
Because at the end of the day, investors are human. They don’t want to hurt the feeling of a first time founder, and don’t want to seem rude in case they want to invest later.
Yes they just might invest later.
So how can you tell what is really going on?
Well that’s what we’re going to debunk in today’s episode of Build! To help us out I’ve invited Ooshma Garg who is the CEO and Founder of Gobble, and Danielle Morrill who is the CEO and Founder of Mattermark. They’ve both recently become investment partners at XFactor Ventures, an investment firm that’s focused on investing in female founders and mixed-gender teams.
We’re going to help get comfortable with receiving NOs and deciphering what they really mean.
You’ll learn:
- How Danielle and Ooshma learned to keep their spirits up despite all the NOs they received
- How to be politely persistent with investors who won’t bother taking a meeting with you
- The various tests investors put first time founder through
- How to maintain a relationship with an investors even after they say NO
In next week’s final episode on this topic, we’ll cover what it’s going to take to get a yes and that first check from an investor!
Enjoyed this episode and want to watch more?
Help others enjoy it too by hitting the 👏🏽 ! And subscribe to our YouTube channel to receive additional episodes.
Check out these additional resources on fundraising for startups
- When It Does And Doesn’t Make Sense To Fundraise For Your Startup
- How Fundraising Will Impact You In 2018 Whether You Are A Startup Founder or Employee
- Monetize Before Making Your Product
- What It Takes To Raise Capital From Investors For Your Startup
- How Investors Add Value Beyond The Check
- Why You Should Consider Being An Early Stage Startup Employee
Build is produced as a partnership between Femgineer and Pivotal Tracker. San Francisco video production by StartMotionMEDIA.
Startup Funding: Why Investors Keep Saying NO To Your BIG Idea was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.