13 Getting to No Is Just as Important as Getting to Yes
In sales, the next best thing to a “yes” is a “no.” Smart startups know that only a small percentage of the angels they approach will eventually invest in them. The trick is to limit your resources to the angels who are most likely to invest and cut your losses with the rest, no matter how many questions you answer or how many documents you provide.
“Time is the most precious resource you have,” says Justin Smithline, CEO of FunnelFire. “Don’t squander it by pursuing angel investors who will never fund your startup.”
“The ‘slow no’ is the worst,” agrees Keen IO’s Dan Kador. Startups have to vet angels even more diligently than some angels vet startups. “Know the angels who are likely to ...