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When to go back to investors with a new idea?

After a whirlwind round of meeting a lot of interesting investors that did not bite on my startup, I decided it was the latest in a long line of signals and wound it down. I am now pursuing a new venture with significant lessons learned, but I’m curious of how long I should wait before bringing this new idea to the people I met previously. Nervous about giving off a flaky impression for moving onto something new so quickly…

  • You’re early stage looking for seed?

    Traction -demonstrate market for your product.

    Team -you don’t mention anyone else working with you, if you’re a solo founder who hasn’t yet made the leap to having co-founders/team, do so, it will give you valuable insight on your new concept’s appeal.

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  • Talk a little about yourself. Do you have Apple/Google/Microsoft VP on your resume? Do you have a previous successful exit? Were you previously in a position of responsibility at a unicorn?

    One thing I’ve experienced is that pedigree matters a hell of a lot. Your failure to get funding may well be a function of this. I know because I’ve had my idea shot down, only to see the literal same idea get funded 2 years later including one of the investors I had talked to. The only positive difference the funded had was pedigree, there were a number of negative differences.

    Another issue is focus: were the investors you talked to, focused on the area you were ideating on?

    I’d also look at what you were asked to provide. If a 3-5 year plan was asked for – it may well be that said plan was not credible.

    Other areas to look at: were said investors fully committed (i.e. their funds were already tied up in existing opportunities).

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