Marcelo Calbucci

Startup Score:

Successes: 0.1+0.5
Failures: 1
In progress: 1

Friday, March 30, 2007

Presenting at ESIF and Keiretsu, not on WSA.

 

    Sampa was selected to present at the Eary State Investment Forum this year. This is a pretty good timing for us since our growth on the last 3 months has been a consistent 40% M-o-M and this is the kind of news that investors like to hear.

 

    If you are an investor, you can always question the strategy, products or ideas of a company, but you cannot question customer uptake. If customers are using the product / service there is nothing that can challenge that.

 

    In another news, we were also selected to present at Keiretsu next week, which is an organization focused on bringing the best deals to angel investors in the region.

 

    In a third news, we've been rejected to present at the WSA Investment Forum, which at this moment I'm thinking it is a good thing because they are kind of disorganized. They were supposed to contact the selected/rejected companies more than a week ago. They didn't, and I had to ping them to find out we were not selected and they were running behind schedule on their selection committee.

 

    The rejection message was very funny because despite the fact they didn't select us they insisted that we participate in the event. Of course, they make money out of every attending person. In other words, they punched us in the stomach and are asking for our lunch money.

 

 

    Now, here is a quick lesson for entrepreneurs:

 

    If an investor tells no, or "call us back when you have more traction", or "we are interested but not now", just say thank you and stop all communication with them. Those non-deals are a drag of time with emails and phone calls. Learn as much as you can why they said no as quick as possible and then stop. We spend more time than we should explaining to investors that already declined investing in us about the technology, the market, the consumer and the competitors.

 

    A lot of times we do that out of courtesy because they don't have a good grasp on Web 2.0, but it is simply not worth it from a business perspective.

 

    There is no such thing as closing the doors, or burning the bridges. They are investors and venture capitalists. Money talks and if they think they can make money investing on you, you won't have to say sorry because you didn't call them after they said no the first time.

 

    Taking from Kathy Sierra: Focus on the customer, not on the competition [or on investors].

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