The No Email Thread

No is a not the word you want to hear regarding funding. No is not the outcome of a VC pitch you want.

A fast no, however, is important so you can move on to the next possibility.

When you meet with any VC, you can ask "what is your process" and get some details.  I would urge you follow up with "how fast can you get to a no" question because it should (I hope) remind the VC (me) that your time is just as valuable (or more) than mine.

I try for these types of email threads. I'm not perfect but I try.

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From: Veronica

Sent: Monday, April 21, 2008 10:44 AM

To: Rick Segal

Subject: Business Brief

Dear Rick,

[removed]

I review what was sent and respond with:

From: Rick Segal

Subject: RE: Business Brief

To: Veronica

Date: Monday, April 21, 2008, 2:48 PM

Hi Veronica,

Thanks for sending me a note. This is not something that JLA would consider

investing in.  It certainly is important and as a social media play, I

understand the value, however, it simply doesn't fit with what we are

looking for as part of Fund 4. I appreciate you thinking of JLA.

Best,

>R<

And I get this reply back:

From: Veronica 

Sent: Monday, April 21, 2008 4:17 PM

To: Rick Segal

Subject: Re: Business Brief

Dear Rick:

Thank you very much for your prompt reply and honesty!

Best regards,

Veronica

I think this is simply the right thing to do. A review and if it isn't a fit, tell the person immediately.  All VCs could do our industry a favor by extending this courtesy to people working hard to get a business going. 

Prompt Reply and Honesty, it isn't that hard.  Off to Calgary.

Comments

[Thomas Purves]

This would beg the question: What is Fund 4 looking for?

cheers
t

[rick segal]

Thomas,

IT stuff. Infrastructure (Q9/SIRIT), services (tungle/first coverage), new media (b5), etc, etc.

[Ryan Brooks]

That is very cool Rick.

See you in a few hours.

-Ryan

[Bob (Bob the Builder) Dapp]

I found this information to be very useful. Thanks for keeping us informed with guidance I can put to use right away.