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Advice Capital Entrepreneurship Growth Investing Negotiating Negotiations

The Road to Getting Funded: Overcoming Rejection and Finding Success

 

The early stages of any entrepreneurial journey are fraught with excitement, anticipation, and a healthy dose of uncertainty and intense fear of failure.

You have a groundbreaking idea, a vision and a burning desire to turn that potential into a reality. But there’s one major catch. You need to raise money to fund your new venture and growth potential.

As you step onto the road to getting funded, you quickly realize that it’s not all smooth sailing. In fact at times, it doesn’t feel like sailing at all. It feels like you fell out of the boat without a life preserve and it’s a daily struggle just to keep your head above the water.

Welcome to the jungle of getting funded. Here’s some advice and condolences on the journey of overcoming the rejection of getting funded and some tips to get back in the boat and sail your way in the sunset of success.

 

 

 

Being Rejected by Investors Isn’t For the Faint of Heart, But it’s a Necessary Right of Passage

In the quest for funding, rejection becomes a familiar companion. You reach out to potential investors, eager to share your passion and the immense potential of your venture. You meticulously prepare your pitch deck, honing every slide, crafting each word with care into the depth of the midnight hours with blood shot eyes. Your heart races as you go to meet with your first investor, ready to make your case with eager and naïve anticipation.

But then, the dreaded words echo in your ears: “We’re sorry, but we’re not interested at this time.”

Rejection stings, like a sharp arrow piercing through your armor of confidence. It’s easy to feel disheartened, to question your abilities, and to doubt the very essence of your idea. You may even feel like giving up and going back to your dreaded day job.

But take heart, for rejection is not the end of your journey. It is merely a detour, a bump in the road that tests your resolve and fuels your determination. Many successful entrepreneurs have faced countless rejections before finding the right investor who believed in their vision. Remember – every rejection brings you closer to that pivotal “yes.”

 

 

Tips to Overcome the Sting of Rejection and to Get Funded

1. Reframe Rejection as Free and Valuable Feedback:

Instead of dwelling on rejection, embrace it as an opportunity for growth. Seek feedback from investors who turned you down. Listen attentively, absorb their insights, and use them to refine your pitch.

Constructive criticism is the compass that guides you towards improvement.

 

2. Build Relationships:

Funding is not just about the numbers; it’s about the people. Invest time in building relationships with potential investors. Attend industry events, network with like-minded individuals, and seek out mentors who can provide guidance. The power of a strong network should never be underestimated.

I’ve made my career out of building a large network of connections, and leveraging them to open doors I never knew where possible.

3. Showcase Traction and Milestones:

Investors want to see progress and tangible results. Demonstrate traction by highlighting key milestones you’ve achieved since your last pitch. This could be user growth, revenue generated, strategic partnerships forged, or product iterations. Concrete evidence of progress instills confidence in investors and makes your venture more attractive.

Don’t be shy about taking credit no matter how big or small the progress.

 

4. Clearly Articulate Your Unique Selling Proposition:

What sets your venture apart from the competition? What problem are you solving, and why is your solution superior? Craft a compelling narrative that conveys your unique selling proposition with clarity and conviction. Investors are drawn to stories that resonate and inspire. The difference between competition in any industry is the ability to articulate your brand story.

Test your pitch to as many people as you can and constantly remove any friction to irrelevant or vague slides and talking points.

To articulate your unique selling proposition make sure you can answer the following 9 questions specifically:

  1. What problem are you solving and
  2. How significant is the problem?
  3. How is your solution different or unique from anything else on the market?
  4. How will you generate revenue? What’s the business model?
  5. How have you proven the problem you are solving is real to the target audience?
  6. What is your financial outlook?
  7. What is your funding requirement?
  8. What will you do with the funds to grow the business?
  9. How will the experience of your founding team aid to the success of the launch?

Don’t forget to highlight and showcase the experience of your team!

 

5. Showcase the Team:

Investors invest in people as much as they invest in ideas. Highlight the expertise and experience of your team members. Showcase their accomplishments and demonstrate how their collective skills will drive the success of your venture.

A strong, cohesive team inspires confidence and reassures investors of your ability to execute.

 

6. Leverage Warm Introductions:

Cold emails and unsolicited pitches have their place, but warm introductions hold greater weight. Tap into your network to find connections who can vouch for your credibility and introduce you to potential investors.

A warm introduction opens doors that may otherwise remain closed.

7. Persistence and Resilience:

The road to funding is rarely a swift journey. It is paved with setbacks, disappointments, and unforeseen obstacles. But it is those who persist, who summon the strength to rise after each fall, that ultimately reach the destination.

Embrace resilience as your steadfast companion and let it propel you forward.

 

 

Conclusion:

The road to getting funded is a winding path, often fraught with rejection and unforeseen challenges. But it is also a road of incredible opportunity, where determination,

The road to getting funded is a winding path, often fraught with rejection and unforeseen challenges. But it is also a road of incredible opportunity, where determination, resilience, and strategic thinking pave the way to success. As you navigate this journey, remember that every rejection is not a reflection of your worth or the potential of your idea. It is merely a stepping stone, a lesson in resilience, and an invitation to refine your approach.

Throughout your entrepreneurial voyage, it’s crucial to reframe rejection as valuable feedback. Embrace it as an opportunity to learn, grow, and iterate. Seek insights from those who turned you down and use their perspectives to sharpen your pitch and enhance your offering.

Each rejection brings you one step closer to finding the right investor who shares your vision and understands the true potential of your venture.

 

Categories
Advice Negotiating Parenting

How Do You Discipline a Child That Doesn’t Listen? Tips from a Parenting Expert

As a parenting expert, one of the most common concerns that I hear from parents is how to discipline their children when they don’t listen. It can be frustrating and overwhelming to feel like you’re losing control, especially when you’ve tried different methods to get your child to follow your instructions. However, it’s important to recognize that controlling our children’s behavior isn’t the answer. Instead, we need to approach discipline with consideration and understanding of our children’s needs and capacities and skills for managing their emotions and responses.

Here are some tips on how to manage when your child doesn’t listen to what you say:

  • Have a solution-focused mindset: When approaching a meltdown, is there a specific time of day when your child is falling apart? Are they tired? Hungry? Need some closeness? you can begin to see positive changes in your child’s behavior when you support them to meet their needs and develop skills to regulate their emotions.
  • Address underlying issues: Sometimes, a child’s behavior is related to an underlying issue such as ADHD. If you suspect that your child may have ADHD, consult a healthcare professional for guidance.
  • Identify the root cause of “disrespectful” behavior: It’s important to address the underlying causes: Is your child feeling neglected or ignored? Are they struggling with a difficult situation at school? By addressing the root cause of their behavior, you can help your child develop better problem-solving skills and improve their behavior. To keep your own feelings in balance avoid thinking judgmentally and stay curious.
  • Approach the situation calmly: Yelling and losing your temper will only undermine your child’s self-confidence and lead to further behavior issues. Take a deep breath, apply the oxygen mask to you first, and approach the situation calmly and assertively when you’re ready.
  • Be flexible with your approach: Be open to trying new methods and approaches to see what works best for your child. Guidance approach to discipline is about supporting your kids to be the masters of their emotions and for them to learn how to be present to the outer voices in their world and speak up assertively for any conflicts occuring inside them so that they can meet their needs too.

Remember, disciplining your child is not about controlling their behavior, but about finding a balance between their desires and your expectations. Healthy and positive ways to discipline your child include setting clear expectations, catching them doing it right and acknowledging, highlighting and verifying that, and modeling the behavior you want to see. By approaching discipline with consideration and understanding, you can create a more positive and close relationship with your child.

So, are you struggling with a child who doesn’t listen to you? It can be frustrating for any parent, but there are ways to discipline your child without resorting to harsh punishment. The first step is to identify what works and what doesn’t. Observe your child’s behavior and see if there is a particular time of day when they are more receptive to problem solving. The rule of thumb is to listen to their side when they are resistant to your directions. Listening to them doesn’t mean you agree with their perspective, but, ignoring their perspective and repeating your own is guaranteed not to work.

It’s also important to keep in mind that some children may have underlying issues, such as ADHD, or an irritation in their nervous systems from an allergy to gluten or red dye or sugar or dairy, inflammation too can make it difficult for them to focus, think clearly, and follow instructions. If you suspect that your child may have an underlying condition, seek the advice of a healthcare professional who can provide proper diagnosis and treatment. Getting a neuropsych evaluation is always helpful!

When your child is being “disrespectful” it’s important to identify the root cause of their behavior and address it directly. Are they feeling neglected or ignored? Are they struggling with a difficult situation at school? By addressing the underlying cause of their behavior, you can help your child develop better problem-solving skills and that gives rise to feeling better and will improve their overall behavior.

Losing your temper and yelling at your child may seem like the only way to get their attention, but this can damage their self-esteem and lead to more behavioral problems. Not to mention, it can result in you feeling yucky about you! Instead, be assertive about meeting your needs and approach the situation with a clear mind.

Remember that discipline is not a one-size-fits-all approach. What works for one child may not work for another, so be open to trying new approaches. Healthy and positive ways to discipline your child include setting clear expectations, providing acknowledgement, and modeling good behavior. Setting clear expectations helps your child understand what is expected of them and encourages them to meet those expectations. Acknowledgment can help build your child’s self-confidence as they learn to be more aware of their own traits and capacities. Modeling good behavior sets a positive example for your child to follow.

Disciplining a child who doesn’t listen requires a solution-focused approach. By observing what works, addressing underlying issues, and utilizing healthy and positive discipline methods, you can develop a positive relationship with your child and help them become confident and well-behaved individuals.

Love and blessings,

Katherine

P.S. Looking for more weekly guidance? Join me in my private Facebook group for tips every Tuesday!

 

 

Categories
Advice Marketing Negotiating

Is Your Small Business Ready to Franchise? . . . A Checklist of Basic Considerations

Many owners of small to medium-sized businesses dream of turning their companies into franchises, and with good reason. Becoming a franchise could let your company expand rapidly into new regions, become a nationally recognized brand, increase your bottom line, and offer other meaningful returns.

But the reality is, not all companies are ready to transition and become franchises. Another reality is that a number of companies try to become franchises but fail in that attempt because they are not prepared.

With that said, what are some of the basic assets you should have in place before you try to franchise your business? Here is a checklist for you to review.

Do you have the following?

  • A proven business model – You should have a proven business model – preferably one that has been successful in multiple locations. If you do, you have a business model that can be replicated in different markets.
  • Strong profits and financial stability – If your company is not performing strongly, don’t expect a franchise structure to cure that problem. Your company should have a strong financial track record with positive cash flow and a healthy balance sheet. This will provide potential franchisees with confidence that they will succeed.
  • Brand recognition – A well differentiated brand is a big consideration. A strong brand is essential for a successful franchise system. Your company should have established brand recognition that can continue to expand.
  • A well-defined customer base – Do you know who your customers are and why they buy from you? If you don’t, you will have a difficult time supporting your franchises as they attract new customers and repeat business.
  • Excellent training – Work with a training development company and create excellent training programs before you start to sell franchises. When prospective franchise owners see that you will train them in all aspects of running your franchise, they will have greater confidence because they will see you are invested in their success.
  • Committed leadership and management teams – The company should have strong leaders who are committed to the success of the franchise system. These executives should have a clear vision for the future of the company and the franchise system.

And Remember, You Can’t Do It All!

Yes, you built your business, and nobody knows it as well as you do. But please be modest enough to accept the fact that you might not personally have all the knowledge that your new franchise will need to succeed. I would encourage you to bring in a franchise consultant – if not permanently, for at least long enough to get your new franchise off to a strong start. And build a top franchise management team that brings you all the legal, business, accounting, supply chain, marketing, and technology knowledge you need to be stronger than your competitors in the marketplace.

Getting the expertise you need can make your franchise a stunning success on the franchising landscape.

Evan Hackel, Entrepreneur, Author, Speaker, Podcaster

As author, speaker and Evan Hackel has been instrumental in launching more than 20 businesses and has managed a portfolio of brands with systemwide sales of more than $5 billion. He is the creator of Ingaged Leadership, is author of the book Ingaging Leadership Meets the Younger Generation and is a thought leader in the fields of leadership and success.

Evan is the CEO of Ingage Consulting, Delta Payment Systems, and an advisor to The Learning Network (formerly Tortal Training). Reach Evan at ehackel@ingage.net, 781-820 7609 or visit www.evanhackelspeaks.com

Categories
Economics Entrepreneurship Growth Investing Negotiating Skills Wealth

The Top 10 Times Mark Cuban Called Out the Sleaziest Frauds on Shark Tank

Hearing the phrase “you’re such a con-artist!” coming from the lips of a potential investor during a live pitch is defiantly not a good look (especially when it happens on live TV broadcasting to millions of viewers).

It happened 10 times when Mark Cuban publicly called out scams when he smelled fish oil on ABC’s Shark Tank.

 

 

Sharktank is the place where people’s dreams can become a reality or a total nightmare…

The television program features some of the world’s most successful investors which include: Mark Cuban, Keavin O’leary, Daymond John, Barbara Corcoran, and Lori Greiner.

Since the show debuted in 2009, there have been some pretty memorable pitches. Here’s a video that shows some of the most savage shark tank moments on that were called out at total scams.

Mark Cuban goes head to head with these entrepreneurs, even questioning their ethics. Here’s the 10 times Shark Tank’s Mark Cuban calls out the sleaziest frauds on Shark Tank.

 

So awkward…

 

WATCH:

 

 

 

 

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