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ePowerment Library

Smart Ways to Respond to Initial Investor Rejection

By Susan Schreter, Mg. Editor

Situation 1: Devils in Disguise

You have been coldly turned down to present at an angel club event. Now what?

Recommended Follow-up:

  • Email or call the manager of the club. Provided you meet the general investment criteria of the club in terms of Stage of Business development or field of technology, ask the manager to provide some constructive feedback to you. Sometimes clubs can receive a large number of applicants one month that might make the competition for just a couple of presentation slots unusually high. With a little more improvement, your deal may top the presentation list in coming months. Whatever you do, don’t complain or criticize the group’s “gatekeeper” or selection committee. Members of the club may turn out to be important networking contacts for you -- today or in the future. Also ask about upcoming entrepreneurial education events that may be sponsored by the club to enhance your visibility and knowledge of the workings of the venture community.
  • Network a better introduction. If the club's Web site lists various names of companies that have successfully raised money from the club, consider reaching out to the CEO's of these companies. Ask to meet briefly over coffee. Don’t expect the CEO to read your business plan (remember a recently funded CEO is on the high performance hot seat). Rather, the CEO may provide useful information on deal positioning or help introduce you to a club member who may one day champion your cause. Respect the CEO's decision to keep his or her investor names confidential however.
 

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