What to do after a failed pitch to investors
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 one wants. What happens after the investors turn down a proposal? Here are some tips to deal with a negative outcome.
Thank the investors
It’s essential to be grateful to the people who took their time to listen to those ideas – they decided against investing, but they still listened. Besides, the industry runs in circles, and there’s a good chance of meeting these people again. Establishing an excellent relationship with them is well worth doing, and it’s never a good idea to burn bridges because a pitch didn’t get approved.
Evaluate what happened
Because of the incident, there’s no need to give up and decide to be a failure. Instead, it’s time to determine what went wrong and improve. There will always be a chance to do better next time. Now, it’s the moment to talk to the team at home and identify the possible mistakes. If the investors provided reasons for the disapproval, that’s even better as it gives an indication of where to look and what to do to fix it.
Look for other ideas
Perhaps it’s time to find different ideas, but that doesn’t mean giving up on an idea entirely. Instead, it shows that a willingness to grow and admit that some ideas aren’t as good as was hoped. Besides, there’s always a chance of arriving at something new and finding an investor who will finally believe in it.
Regain confidence
It’s important to be careful about feeling like a failure after what’s happened – some might not even want to stand up and continue the fight anymore, believing their ideas aren’t good enough and they can’t succeed as an entrepreneur. Before feeling that way, there’s a necessity to realise that it’s only a bump in the road. There’s always another chance to get back on one’s feet. It’s not possible to pursue another endeavour unless one feels whole again.
Have a conversation with the team
If it feels like a terrible ending to months or years of hard work to the owner, imagine how the team thinks about it. They might be just as devastated. Therefore, talking to them and checking how they feel is critical. Everyone should be on the same page if they wish to stand up and pursue the fight, otherwise employees might decide to take a different path. Finally, everyone should be reminded 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, nobody feels disheartened. Business people must make sure they stay strong amid the rejections and realise that the next pitch might also end the same way. Again, they don’t indicate how bad one is as an entrepreneur – they only test determination and how to see things through.
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