I received some disappointing news recently about a potential partnership falling through. It was particularly tough because it was so unexpected. The team we were in talks with was enthusiastic about our capabilities, and their mission aligned perfectly with ours. I took a risk and tried a new sales approach, but ultimately, they decided not to partner with us—not because they disliked our product, but because it wasn't the right fit at this time.
I did what you're supposed to do: I asked for feedback to improve our approach and offerings. I went over my sales process to see what I might have missed. But I was deeply upset, I had been convinced this was a sure thing. When it didn't happen, it knocked me back.
Starting a business is a rollercoaster. You constantly second-guess your decisions. One moment, you feel like a genius; the next, you question everything. It's easy to assume that a missed opportunity is a catastrophe. But instead of viewing it as the end, I asked myself what I could learn from it.
So I did a little exercise:
First, I laid out the facts: We presented a partnership proposal tailored to their mission and budget. Initially, we received positive feedback—they loved our work and saw potential. They promised to get back to us after finalizing their budget. They later emailed, saying we weren't a fit for them at this time.
Then, I wrote down all my assumptions. My mind raced with negative thoughts—our product is bad, they don’t like me, this approach is totally wrong, no one will ever hire us.
After that, I compared the lists. Comparing these assumptions to the facts, none held up. No one said anything like what I was thinking. We simply weren't a fit for them right now. It was a reminder that we can't be everything to everyone. And we might be a fit for them later this year!
From this short exercise, I learned (or remembered!) several things:
This particular sales approach needs a lot of nuance, it’s going to be different every time. I need to work on it!
I need to give myself space to process bad news. It’s good to take a beat and calm down!
We have a strong product that can revolutionize our sector. It might take time for some to see our value, and that's okay.
So when you’re inevitably faced with a tough situation, take a moment. Give yourself space and think about what you’ve learned. Every challenge is really an opportunity to learn something, even when it feels like there’s nothing to gain.