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.

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Larry Kim

Larry Kim

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