It’s hard work to convince potential investors to believe in new ideas. It takes detailed research and to present the information as best as possible. The slides during the presentation need to keep them interested. Sometimes it takes investment too, like a projector ceiling mount at the office to securely hold the projector in place to ensure everything goes smoothly. Unfortunately, things don’t always go the way someones wants. What happens after the investors turn down a proposal? Here are some tips to deal with a negative outcome.
Thank the investors
Be grateful to the people who took their time to listen to your ideas. They decided against investing in your ideas, but they still listened. Besides, the industry runs in circles. There’s a good chance you will meet these people again. Be grateful for the opportunity since you might see these people again. Establish an excellent relationship with them, and don’t burn bridges because your pitch didn’t get approved.
Evaluate what happened
Because of the incident, you can’t give up and decide you’re a failure. Instead, determine what went wrong and improve. You will always have the chance to do better next time. Talk to your team and identify the possible mistakes. If the investors provided reasons for the disapproval, it’s even better. You know where to look and what to do to improve it.
Look for other ideas
Perhaps, it’s time to find different ideas. However, it doesn’t mean you’re giving up. Instead, it shows that you’re willing to grow and admit that some ideas aren’t as good as you hoped. Besides, you can always arrive at something new and find an investor who will finally believe in it.
Be careful about feeling like a failure after what happened. You might not even want to stand up and continue the fight anymore. You believe your ideas aren’t good enough, and you can’t succeed as an entrepreneur. Before you feel that way, realise that it’s only a bump in the road. There’s always another chance to get back on your feet. You can’t pursue another endeavour unless you feel whole again.
Have a conversation with the team
If you felt like it was a terrible ending to your months or years of hard work, imagine how your team thinks about it. They might be as devasted as you are. Therefore, talking to them and checking how they feel is critical. You should be on the same page if you wish to stand up and pursue the fight. Otherwise, they might decide to take a different path and no longer work with you. Finally, remind everyone that there will eventually be a perfect investor who will believe in the ideas. It’s only a matter of time before it happens.
Hopefully, you don’t feel disheartened. Make sure you stay strong amid the rejections. Realise that the next pitch might also end the same way. Again, they don’t indicate how bad you are as an entrepreneur. They will only test your determination and how you want to see things through.
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