One of the toughest thing for me in my new job is to pass on investment opportunities. We see a lot of companies and obviously we can’t invest in them all. So 99% of cases we say “no thanks” (for good or sometime bad reasons) and most of the time it is really painful because entrepreneurs are smart talented personns.
I remember when i was on the other i was saying to myself “those VCs just don’t get it”. Until we found one.
Actually i learned in many milestones of my short life that a NO can sometime be a HUGE opportunity, but you just don’t know it yet. A couple of stories from my personnal experience on dealing with a frustrating “NO”
case 1
When i was a student at HEC i want to complete my MBA at Berkeley. I really wanted. My file was refused because i was not considered “serious enough” (to be honest that was true). I was not ready to admit it at the time but that was the case. I felt really really really bad. So i applied to a “less prestigious” European Business school and arrived at ESADE. I had there the best 4 months of my whole life. I would have missed that if i went there. This also gave me to become fluent in spanish and even find a great job in Spain.
case 2
About 1.5 year ago i was starting to try to find a way out from ICQ. I was interviewing in a VERY prestigious and famous and successful israeli company for a top notch job. Went all the way through the process (several interviews and tests). Finale stage “we got someone else sorry”. I really really really felt bad. Eventually i started blogging, wrote TechCrunch in French got spotted by a VC and joined them. Now i have probably the most exciting job i have ever had.
But here is the funny bit. I met recently with the HR personn at this great company, i learnt that most people i met left the company and the job i applied for was “shut down” after a few months. Even better recently i was asked references on one of the personn who interviewed me!
Conclusion
I am not telling all this to explain how great i did. I still have a lot to prove and i still have difficulties dealing with a frustrating “no” but i thought it could help some of your to read that insight.
I guess frustration is an energy that can be converted in positive opportunity. Easy to say, hard to apply.