Entrepreneur Plus - Short White
For Subscribers

Know When to Walk Away Don't ask venture capitalists for referrals if they say they're not interested.

By Brad Feld

Opinions expressed by Entrepreneur contributors are their own.

As a venture capitalist, I receive a steady stream of e-mail from entrepreneurs looking for funding for their businesses. I'm happy to receive these e-mails and try to respond to all of them. When they ask for advice, I try to quickly point them to something I've written or give a focused answer. When it's about a potential new investment, I determine quickly whether I'm interested. If I am, I ask for more info and engage more deeply. If I'm not, I politely respond that it's not my thing.

In some cases, I never hear from the person again. In others, I receive a short e-mail that says something akin to "thanks for your consideration." Occasionally, someone reacts negatively and goes off on a rampage about how venture capitalists are the scourge of the universe, how they stifle innovation by not supporting entrepreneurs and how I probably even kick my dog on a regular basis. This approach rarely elicits a response from me and is not particularly effective.

Memorial Day Sale - Save 20%! Unlock this premium article & so much more with Entrepreneur+

Join the internet’s leading entrepreneur community with our Memorial Day sale! With your subscription, you'll get:

  • Digestible insight on how to be a better entrepreneur and leader
  • Lessons for starting and growing a business from our expert network of CEOs and founders
  • Meaningful content to help you make sharper decisions
  • Business and life hacks to help you stay ahead of the curve

Use code SAVE20 at checkout.

Editor's Pick

A Leader's Most Powerful Tool Is Executive Capital. Here's What It Is — and How to Earn It.
Lock
One Man's Casual Side Hustle Became an International Phenomenon — And It's on Track to See $15 Million in Revenue This Year
Lock
3 Reasons to Keep Posting on LinkedIn, Even If Nobody Is Engaging With You
Why a Strong Chief Financial Officer Is Crucial for Your Franchise — and What to Look for When Hiring One

Related Topics

Business News

'Just Say You Are Going Broke': Starbucks Slammed For Price Increase On Popular Item

The chain will start charging $1 extra for customization on its popular Refresher beverages.

Business News

The Virgin Islands Want to Serve Elon Musk a Subpoena, But They Can't Find Him

Government officials would like to talk to Tesla's owner as part of an investigation into the Jeffrey Epstein case.

Growing a Business

My Startup Scored a Multimillion-Dollar Contract With a Fortune 100 Client in Just 3 Years. Here's What We Learned.

There's no perfect litmus test to gauge if you're ready to go after big business or not — but if you don't take the risk, you'll never realize the reward.

Marketing

5 Questions to Ask a PR Pro Before Hiring Them

You probably haven't considered asking these questions, but they're a great way to find the right PR firm for your business.

Growing a Business

The Inevitable Challenges You'll Face as Your Business Grows — and How to Handle Them

There's going to be some discomfort as your business expands, but it doesn't have to stop you from achieving massive success.

Marketing

This Location-Based Marketing Technique Is the Key to Boosting Retail Sales

Let's take an in-depth look at geofencing marketing and how it's helping retail locations drive foot traffic and boost sales.