We get our hopes up for successful conclusions that make all the sense in the world to us. We really try and ‘manage’ our expectations and not get too far ahead of ourselves, but the conversations are going so well we think. The indications of interest are spot on. So we get lost in managing expectations, trying not to get ahead in the what ifs of a successful conclusion. Then, unexpectedly, we hear NO. Huh? Whaaat? Can’t you see how well all of the puzzle pieces fit together? We sure can!.
This is the life of an entrepreneur. When you feel passionately about your venture, you THINK you know how all of the pieces fit together, how your business will be the one to succeed beyond everyone’s wildest expectations, it’s hard to get a NO, particularly when it comes in raising capital to sustain and grow your business. So, how do you handle NO? Particularly when you know it’s right? Well here’s what I do:
1) lean hard on my faith. While to some of you this may sound cliche-ish, it works for me. Every core of my body believes that God has an amazing plan AHEAD of each of us, so whatever ends that NO means that with that door closed a new one opens.
2) allow yourself to grieve a bit. One thing I’ve learned in my entrepreneurial journey is that when you’re ‘all in’ in your passionate belief in your business, it’s disappointing (sometimes bitterly so) to hear NO. In many ways, it really defies logic. So go ahead, be bummed…I’ll give you overnight.
3) reassess why you got the NO. This self reflection needs to be open, honest and transparent with yourself, your business partners and, most importantly, your loved ones. Learn from this, incorporate your lessons in order to chart your course from this point on. Maybe that means minor changes, maybe major, or, sadly, means the endpoint for this dream. Hey, reality really sucks sometimes.
4) maybe this should be number two (after your faith), DO NOT REACT, RESPOND, LASH OUT OR MAKE ANY IMPORTANT DECISION immediately after NO. Emotional decisions are dumb, typically cause even more problems, and are completely counterproductive. Worse yet, they can even be downright hurtful or devastating.
So, while you’re grieving, keep your thoughts to yourself overnight until your emotions dissipate. Then you’ll be able to really hear God’s small voice guiding you, encouraging you to press forward. My biggest inspirational thought when I go through this comes from the amazing actor, John Wayne in the the movie the Longest Day about the invasion of France in WWII (great movie, all star cast!), the Duke broke his ankle as a paratrooper when dropped behind enemy lines. When the medic informed him that his ankle was broken he said, “well, just have to lace up my boot a little tighter…” and off he strode into battle!
So, if you’re licking some NO wounds, better lace up your ole boot a little tighter…you’ve got a passion to follow!
Good Luck!