Nice post from Brad Feld on “Saying No”. Getting a quick “no” from a potential investor is refreshing. When I’m pitching a VC, I’m of course always shooting for a “yes”, but sometimes, for a variety of reasons, it’s just not a fit. So, just tell me. Quickly, please, so we won’t continue to waste each other’s valuable time. Nothing frustrates me more and the lingering “maybe” from a VC who for whatever reason, just doesn’t have the cajones to say no.
Worse yet, is the “bring me a rock” game, where the investor assigns a variety of homework projects to give them a better feel for the deal and the team. Delivery of the initial rock inevitably results in a “oh, not that rock, I meant that other rock.” Rarely have I seen this game result in a investment.
Fred Wilson also has a post on the subject here.
