I Got 100 Rejections

I got 100 rejections.

From VCs, after quitting my job to launch my startup.

“You need more people on the team.”

“Minimum $1M recurring revenue”

So many reasons my idea wouldn’t work.

But I studied every rejection in painful detail.

And learned 4 powerful lessons that all entrepreneurs should know.

1. Read your rejections.

I realized they were onto something.

I read the common threads.

And turned their criticisms constructive.

2. Put your money where your mouth is.

One common thread = not ready yet.

This means keep going.

This “no” means “not yet.”

I drove harder.

3. Rejections drive change.

I spent everything I had to grow my business.

Built a team, version 1, customers, changed the tech and pricing model.

Rejections improved my company.

A baby unicorn was conceived.

4. Keep and follow up on your rejections

VCs like when you value their feedback.

Show you’re a professional they can work with.

I asked to show them my progress with their feedback.

Almost all took the meeting — and were amazed.

90 days later: 2 term sheets from investors.

1 month later: Series A investment closed.

$4 million.

Save rejections. Value input. Act on advice.

Rejection isn’t the end. It’s the beginning.

You’re a unicorn waiting to be born.



Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Larry Kim

Larry Kim

CEO of MobileMonkey. Founder of WordStream. Top columnist @Inc ❤️ AdWords, Facebook Advertising, Marketing, Entrepreneurship, Start-ups & Venture Capital 🦄