Rejection is such a ‘cold’ word. Everyone has encountered some kind of rejections at a point in their lives. Well, let’s not say everyone; some people are pretty fortunate to have the universe at their call. Rejection isn’t something pleasant, if you’ve ever faced one you know exactly what I’m referring to. It happens within a blink of an eye, but the aftermath emotions can take forever to get over with.
There are various kinds of rejections we are faced with in our lives. But let’s limit this ‘Rejection’ to the kind the startup entrepreneurs face.
I must admit, this kind of rejection is a heartache, which does not only get to your last nerves but can be so damaging to the extent of silencing a purpose, a vision or a dream deep within.
It takes some people almost half of their lives to discover their true purposes, their dreams or discover something they are so passionate about. So to lose it, can be extremely depressing.
Startups sprouts every seconds of the hour and in every corners of the world. Just as much as they sprout, they fallout too. The reasons to some fallouts may not necessarily be because of the usual perceptions created such as: lack of ideas, lack of financial cushions, zeal etc. Most of these startups fallout because of “depression” which they failed to handle rightly as a result of rejection.
Startups entrepreneurs suffer from what I call the “SILENT REJECTION” and most as well never talk about it. We keep hearing about the good, the bad but never the ugly. The sad truth about starting up as an entrepreneur is that, startups do not plan or prepare themselves psychologically as much as they do with their ideas and business plans, finances, strategies etc. So when they are hit by rejections unexpectedly, they gulped them down in shock and do not get out of it.
Let’s take a look at some rejections startup entrepreneurs face as per my own classification.
I know you must be wondering if one can be the cause of their own rejection? The answer is a big yes. This in my observation is more difficult to deal with. Self rejection can be a huge limitation to achieving your business success.
The feeling of self rejection is characterized by perfectionism, self unworthiness, highly impressing others, inability to fit into a particular group or network. Starting a business or running a startup business is not or never a glamorous lifestyle. Startups have the urge to be perfect to fit into existing markets. They thrive to belong to certain business networks to grow their networks. They try as much to build growing brands that can be accepted or rejected by their target consumer markets.
When these desires do not go as they had imagined, they turn to attack themselves on the basis of failing to achieve those desires.
Every startup knows the feeling of being refused some help or ideas, proposals presented being rejected in their faces. The reality is that, not every business idea would be welcomed or accepted; not every proposals would be accepted, not every network is right for you as a startup entrepreneur and not every entrepreneur is regarded, relevant or accepted by the society. As an entrepreneur, you have got to acknowledge these realities and be prepared to face them.
WHY DO STARTUPS FACE REJECTIONS ?
Briefly, why startups face rejections
1. Stronger competitive barriers .
2. Market fit
3. Product market fit
4. Growth plan not reliable
5. Team not in place or lack of team strength
6. Ideas not viable
Just to mention a few. Note that, there are so many reasons why startups face rejections and regardless of those reasons, you must pick yourself up and keep running. That is what entrepreneurs do.
SO HOW DO YOU DEAL WITH STARTUP REJECTIONS ?
As an entrepreneur you’re constantly going to be dealing with rejections. The rejection is going to be a challenge just as much as other startup challenges. You’ll definitely be rejected by investors, programs, funders, consumers will reject your products and services and the list is endless. Note that You’ll be rejected by people; every class of people who matters to your business and as well as those who least or does not matter at all. From potential cofounders, potential employees, potential founders and partners etc.
The power of the “No” will echo much louder than the YES in your startup journey. If you are not prepared for it, you certainly won’t succeed being an entrepreneur. New entrants have eye brows raised at their products, services and whatever they have to offer all the time, so dealing with these emotions are very crucial to your growth.