Despite a Series of Rejections of Your Business Proposals, Don’t Give Up!
You’re lucky if you can find the right investor the first time of asking. If you have an irresistible idea, a host of investors will be ready to fund you. However, you can’t expect things to go as smoothly as you would like. If an investor turns down your proposal, you have to stand up and move on to the next potential investor. Unfortunately, you might receive several rejections along the way – that’s life. Persevere – don’t give up even if you face several stumbling blocks.
You will find the perfect partner
Finding the right investor is like looking for the right person to spend the rest of your life with. You can’t expect to find the perfect match at the first attempt. You may have to keep on searching until you find the investor who will work well with you. If potential investors said no to your proposal, it might be for the best. The perfect partner is still waiting for you out there somewhere.
You want to feel comfortable with the investor
Although investors will be judging your business plans, you also need to be selective. You can’t accept any offer just because an investor decided to fund your proposal. If you think your original idea will get replaced completely or severely tinkered with, you have the right to refuse any offer put forward. You still want to remain true to the spirit of your business plan. You can’t be too desperate because you might end up with something you do not recognise.
Put your ideas out there
Don’t wait for the right investor to find you. You can put your ideas out there for everyone to see. It’s a process called crowdfunding. It’s a strategy that entrepreneurs look at so they can broaden the catchment. It is not unusual for business owners in the UK for example to receive funding from abroad. There are lots of people who wish to grow their wealth; investing in the right company is one of their strategies. If you succeed in crowdfunding, you might even receive more investment than was originally asked for to keep your business rolling.
Learn from your mistakes
Every business proposal is an opportunity to learn. Even if you didn’t succeed in winning the hearts of investors, it doesn’t mean it’s over. You can still determine what went wrong during the presentation and improve them in the future. For instance, is it possible that your meeting room wasn’t perfect or conducive?
Perhaps the venue was not equipped with equipment you perhaps should have used to bolster your pitch. Look at ways to improve the venue; that could start by introducing tech such as computers and slide projectors. You can also invest in a projector mount so that it’s easy for you to present any time at any venue.
When making a business proposal, you’re not only selling your ideas. You also want to convince investors that you have a serious business in your hands. If they see that you have an environment conducive to serious business, they will believe in you more readily.
They are also more likely to invest and move forward with the transaction.