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In the second half of our conversation with Kara Goldin, she talks about her fundraising experience for hint庐 water. Because of Kara鈥檚 tech industry background, she had some connections with Silicon Valley investors and had no problems getting meetings.
But what did those initial meetings look like? What was the reception of her business? Listen to this episode of Motivational Mondays to hear the challenges she overcame.
One of Kara鈥檚 first meetings was with a group of well-known venture investors. She knew her company was small and that this group usually invested in tech companies. But she grasped the opportunity and confirmed a meeting.
The day of the meeting, one of the venture partners walked up, exchanged greetings, and said, 鈥淚 can鈥檛 believe you have four children and are starting a business.鈥� She was there for her company and that perceivably sexist comment was the first thing she heard.
Then he said, 鈥淪o who鈥檚 watching the kids?鈥� Kara gasped and exclaimed 鈥淥h my gosh!鈥� He immediately asked, 鈥淚s everything okay?鈥� Kara鈥檚 response was, 鈥淒id you know that there are babysitters?鈥� He looked at her and acknowledged that what he said was extremely rude. Kara calling him out proves you can鈥檛 be afraid to speak your mind.
Kara points out that sometimes people say stupid things. They may be intelligent but don鈥檛 really understand EQ or they say things they normally wouldn鈥檛. But you can use it as an opportunity to teach.
Kara has run into that investor throughout the years. At a particular dinner they both attended, he admitted what he said to their table. Someone said, 鈥淚 can鈥檛 believe you said that!鈥� To which he responded, 鈥淏ut you know what? I鈥檝e never said it again.鈥�
Actively Seek Out Your Target Market
Kara shares that instead of worrying a venture capitalist won鈥檛 invest because you鈥檙e a woman, think about the other reasons someone may say no. In Kara鈥檚 case, she wasn鈥檛 running a tech company and wasn鈥檛 making enough money yet. This group of investors was not her target market.
Kara emphasizes that you cannot feel sorry for yourself when you face rejection. Instead, think about who will invest in you. Seek out investors who are the right fit for your business. People don鈥檛 invest in what they don鈥檛 know. Kara has heard investors say, 鈥淲e don鈥檛 invest in married people.鈥� But she doubts that鈥檚 the reason. Sometimes, they鈥檇 rather insult you than just say they aren鈥檛 interested.
Steve Jobs once said, 鈥淒on鈥檛 expect people to tell you what they need鈥攕how them.鈥� Kara notes that you can show investors what you do and they have the right to say no.
So what do you do then? Push forward until you find someone that says YES.
Listen to the bonus episode to learn about the unique hurdles faced by women in business and the importance of pushing back against misogyny.
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