No one enjoys attending a failed investors’ meeting, but staying positive and focused is essential after the meeting. By taking the proper next steps, you can ensure that your business will get back on track.
Keep moving forward
After a failed investors’ meeting, the first and most important thing is to keep moving forward. It’s easy to get discouraged after hearing “no” from potential investors, but it’s essential to keep your head up and keep moving.
Finding non-VC fast lenders, focusing on a sound business model, and researching new prospects are all innovative next steps after a failed investor meeting.
Even if you didn’t receive the news you were hoping for, it’s crucial to stay professional. Remember that these investors could be potential partners down the road, so it’s important not to burn bridges.
Thank them for their time and let them know you appreciated the opportunity to present your business. You don’t want to give them any reason not to invest in your company in the future. You never know when your paths might cross at a later date.
Be prepared for next time
After a failed investors’ meeting, one of the best things you can do is start preparing for the next one. Make sure you know your business inside and out, so you can answer any questions. In addition, be sure to practice your pitch and prepare a solid deck. If you’re well-prepared for the next meeting, you’ll be one step closer to getting the funding you need.
Don’t take it personally
Investors are looking for a solid return on their investment, so it’s essential not to take their decision personally. They’re not rejecting you as a person; they’re not convinced that your business is a good investment.
Keep this in mind as you move forward and continue working hard to make your business successful. If you believe in your business, eventually, you’ll find investors who believe in it too.
Be careful how you refer to competitors
In almost every industry, there are always going to be competitors. When talking to investors, be careful how you refer to your competitors. Investors may think you’re not taking them seriously if you’re too dismissive of them.
On the other hand, if you seem overly confident, they may think you’re not being realistic. Try to strike a balance and show that you’re aware of the competition but that you’re confident in your ability to succeed.
Do your homework
Investors will do their homework on you and your business, so you must do your homework on them. First, find out as much as possible about the investors you’re meeting with, so you can prepare to answer any questions they may have.
In addition, try to find out what kinds of businesses they’ve invested in previously. Doing this will give you a better idea of what they’re looking for and whether or not your business is a good fit, which will help save you time and your investors’ time.
Follow up after the meeting
Even if the meeting didn’t go the way you wanted, it’s essential to follow up with the investors afterward. Thank them for their time and let them know you’re grateful for the opportunity to present your business.
You’ll keep the door open for future investment opportunities and your business top of mind by staying in touch. An excellent way to follow up is to send a brief email or LinkedIn message. You could also send a letter if you have their physical address.
Change up your pitch
If you’ve been pitching your business to investors and not having any success, it may be time to change up your pitch. First, look at your deck and see if there’s anything you can improve. In addition, try to find a different angle to approach investors.
Sometimes, it takes a small change to make a significant impact. Also, don’t be afraid to ask for feedback from investors who have already passed on your business. They may have some helpful suggestions that you can use to improve your pitch.
Look for other funding sources
If you’re having trouble getting investment from traditional sources, it may be time to look for other funding sources. Several alternative lenders may be willing to provide funding for your business. In addition, you could also consider crowdfunding or even personal loans. You’re more likely to find the financing needed by exploring your options.
A failed investors’ meeting can be a discouraging experience, but staying positive and moving forward is essential. By following these tips, you’ll be one step closer to getting the funding you need for your business. In addition, you’ll be better prepared for future meetings and more likely to succeed.