You Need To Have Thick Skin

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

In the fundraising process, the startup founder will hear ‘no’ many times from investors.

For the founder, this can be painful as the startup is their baby.

Investors will say ‘no’ often and in many different ways.

Some articulate it in words while others demonstrate it in their actions.

The founder needs to have a thick skin because not everyone will get it.

Consider these points when hearing a no:

Never take the investor feedback personally -- it’s business.

After each interaction, ask yourself why the investor said no.

Look at the pitch from their point of view.

It’s often the case the investment doesn’t fit their criteria or thesis.

Some investors have finished their funds and cannot take on any more investments.

Other investors don’t understand the space or how that part of the industry works.

Still, others are unsure of the technology behind the startup and want to see more proof.

Each interaction with an investor provides a lesson to learn.

Having a thick skin helps.

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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