NOtivation - lessons from raising a seed round

For the past 4 years I’ve been on the other side of the table. Meeting with companies deciding if our firm is going to help them raise or invest in their company. I’ve calculated the number and it’s somewhere between 300 and 400 different companies. Most of the time I say no for three main reasons. 

1. Don’t like the management team
2. Not the right stage (either too early or too late)
3. Don’t know enough or not interested in the industry.

Now, for the first time, I find myself on the other side, sitting down with investors and often getting turned down because of 2 or 3 (at least I hope no one says no because they don’t like me, what’s not to like?)

Raising your first round is an absolute grind, but for some sick and twisted reasons, I LOVE It. When an investor says no, a jolt of energy rushes through my body. I’m energized, motivated to work 10 times as hard and prove them wrong. A couple of times I’ve been in meetings and the investor really wasn’t a good fit for the company and I remember sitting there, just waiting and hoping he’d say no so I can use that to fire me up again. He said no. And l love it!

Right now Amuka Esports is finishing off our seed round and I’m very happy it was a grind. If someone just came in blindly with $500K I don’t think I’d be successful long term. I strongly believe, every founder needs a large dose of rejection to prepare you for what’s to come. So thank you to everyone who said no. I’ll keep you in mind when I ring the bell on opening day. 

On the flip side, I’ve never cared so deeply or been more grateful to the people who believed in us from the onset. Whether they wrote the cheque or connected us to the cheque, you have to really appreciate the people who bet on you when no one else would. To all of our early investors and supports, I want you to know that if you ever need a kidney, I really hope you have a family member to give one. But if you don’t, I hope you have some good friends who will as well. But if that fails, I would give you my kidney. 

To all of the founders out there who are looking to raise your seed round or A round or down round, there’s only two ingredients you need, GRIT & HUSTLE. Let’s go get NOtivated.