Stepping into entrepreneurship is an exciting time. Planning, strategizing, and networking can keep you focused and moving forward. Beyond this, however, is the milestone that must be crossed in order to translate all this planning, into something tangible: the task of securing funding.
Looking to investors for funding is a delicate and challenging road. It requires a combination of confidence, effective communication, and data-driven research. Despite this, even an incredibly calculated business plan and presentation is not impervious to rejection.
So how do you bounce back from a rejected pitch?
First things first, rejection is a part of entrepreneurship. Your first rejection will certainly not be your last and that’s okay because it’s all part of the process.
Successful entrepreneurs say "no" to most offers and those are exactly the people you're trying to do business with. To distinguish yourself and your business, your pitch needs to go beyond being “good” and instead be “exceptional”.
You need to know what investors want to see and then deliver that information in a way that is compelling, backed by data, and ultimately well communicated.
If you’re feeling disheartened after a rejection, read on to learn how to turn this into future success for your business.
To minimize the likelihood of rejection, make sure your target is the right fit for your pitch. Sometimes, when looking to fund startups, businesses, or projects, we try the “throw enough mud at the wall and some of it will stick” approach. I have yet to see this strategy produce any meaningful results.
Instead, a targeted, strategic approach will produce far better outcomes. This does require more research and effort on your part, but by putting the hard work and effort in on the front end, in the long run, you are far more likely to achieve the desired outcome and hit the mark!
There’s no doubt that startup funding is a tough game. Figuring out the right way to fund your startup isn’t easy. It’s especially tough for founders looking for seed funding to launch. Here are some things to keep in mind to refine your pitch if you’ve encountered rejection.
Nearly all founders want to learn how to pitch investors to get funded. Pitching to investors is both a science and an art. You need to deliver the right information in the right manner. And while every investor is different, there is a way to deliver pitches that are compelling, tempting, and will get you to the next step in the startup funding process.