It is not easy to fail, but I have. In the recent months I tried to raise funds from Israeli VCs.
Many told me not to do it, for multiple reasons, with the top one being "the market is low, and so are chances". And indeed - they were right.
I got many rejections at the preliminary stage and did succeed to move onwards with some VCs, only to get the rejections later.
In themselves rejections are divided to various groups. One being - we don't care or not really into investing these days - please go away. Another is the rejection that comes from finding the flaws in the plan (there are no flawless plans) and pointing the simplest one out. This is probably the reason for tip #1 of the day - never start dealing with any VC on the associate level, it leads nowhere.
The third type of rejection is the one that comes from smart people, that have really sunk their teeth in your plan and could not get themselves to invest, this is the type that tells you - please prove me wrong and we'll meet in the next round, which although is quite annoying is still better than the first two types.
However - there are some good news, the process was lengthy and I learned a few things from it. It helped me think of what we'll do next and what goals I should reach.
We'll bootstrap transposh, and with a little luck be able to announce our alpha product in the coming weeks. Funding will wait till we mature a bit.
If anyone wants tips and tricks regarding Israeli VCs, contact number of various partners and just a bit of knowhow - feel free to contact me - its a free service for fellow entrepreneurs :)
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