(Previous post - #3 in a series)
#4: Keep getting turned down? Ask
Some investors will tell you why they aren’t going to write you a check.
Others won’t tell you. Still others will say “No for now,” and let you know what
milestone(s) you need to accomplish for them to invest.
But you won’t know unless you ask.
Many entrepreneurs are so focused on their idea that they miss something.
Perhaps it’s your your pricing assumptions, or your presentation skills, or an
unimpressive team. There are many reasons why investors don’t get interested
enough to write the check.
When you do ask why they aren’t investing, tread softly when replying to them
and don’t get defensive. Above all, don’t argue with them about how they’re
wrong. Take it as valuable feedback from one perspective. Also, many investors
will say no to you, but that doesn’t mean it is no forever. Ask them if they
would like to keep track of your progress with a monthly or quarterly email from
you. You’ll be surprised at the interest that comes your way as you continue to
achieve your milestones.
Remember, you don’t ask, you don’t get…