As entrepreneurs, we find ourselves rejected more times that we care to admit. You open your emails and the first line you read is ‘thank you for submitting your applications, unfortunately…..’ not many of us finish such an email. If you happen to finish, they always end the email with ‘ this does not by any means imply that your idea is not good’ well, that makes it better right?
What do you do when you get such responses day in, day out?
Finish reading the email
If you are like me who will be so disheartened and ignore the email, you might be missing out. There are a few individuals who will go a step ahead and give some advice. Some refer you to organizations that may help while others will tell you when next their application opens up.
Be thankful that they took time to read and acknowledge your email. Some will send your application straight to trash. Take time to respond and thank them for the response. As much as you are annoyed at the response, use kind words to appreciate them. You never know, you might be the only one who responded and they will keep you in mind.
Keep their contacts and update them at least twice a year on the developments you have done on your product. Some may have rejected you because you were too new in the market. Some may have rejected you because no one else had invested in you.
Once you make strides in your business, drop them an email to keep them updated on the developments. They may just write back to request for a meeting.
Follow up with their advice
Very few people will take time to your proposal and point out the things that went wrong. If you went for a pitch, they may write back with reasons as to why they will not invest in your company. Take their advice. Do they have concerns on your team? On your packaging on your presentation? Having dealt and invested in many start-ups, they must have the expertise in the areas. It would be worthwhile to take on the advice you see fit for your next pitch.