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Just turned down a term sheet. Terrified.

Two years after starting we just turned down a term-sheet that would return the investors 3x their money and would double my net worth. This is my 3rd startup: first one got a decent exit after 6 years (3x ROI for investors), second one is still going.

Everyone thinks we have great prospects (4-5x the term-sheet), but I am terrified. Growing this thing is daunting, and I am afraid that this bubble is going to burst soon and I will end up in another 6 year marathon. It never gets easier, no matter what people say.

 

  • Going through this now, turning down life-changing (for me) seven figure money is stressful! Believe in yourself though. I think the hardest part is dealing with a down-time in the business (missed deal, missed target etc…) after you’ve turned that money down. A couple deep breaths, a night drinking, whatever it takes to keep moving though. People are offering you money because they think they can make a lot more money, so hang in there.

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