I had dinner the other night with a friend who is an investor. We were exchanging stories about the ups and downs of working with entrepreneurs when he told me about a particularly difficult experience he had this week. Apparently, he declined to invest in a startup, and the founders did not take the rejection well.

"They were furious," he said. "I was bombarded with messages calling me an idiot and saying I didn’t know what I was doing. They claimed I would regret this and that I must be one of those investors who pretends to invest just for attention."

I haven’t been able to stop thinking about this story for the past few days. Beyond the sheer rudeness of the founders, what fascinates me is how their reaction almost validates my friend’s decision not to invest in them. After all, if you’re an entrepreneur who believes the appropriate response to rejection is to lash out, you’re demonstrating exactly why you’re not a founder worth investing in.

Rejection Is a Reflection, Not an Attack

To be clear, rejection hurts. When you’ve spent countless hours pouring your heart into a startup and someone tells you they don’t believe in it—especially someone who could help you—it feels personal. After all, you’ve dedicated your time, energy, and possibly even savings to bring this idea to life, and this investor doesn’t see its value… how is that possible?

However, the reality is that investor rejections usually don’t reflect your worth as an entrepreneur. Instead, they reflect how investors view the market, the opportunity, or perhaps even their own portfolios. Maybe they don’t invest in your sector.

Maybe they’ve seen similar businesses struggle. Maybe they have low cash reserves this quarter. The point is, rejection is a business decision, not a personal attack.

But when founders respond with anger, insults, and threats, it sends investors a clear message. It tells them you’re too emotional, too impulsive, and too self-centered to handle criticism. And that communicates something far more important to investors than the business idea itself.

The Importance of Thick Skin and Self-Reflection

Successful founders share one critical skill: they can process criticism and improve from it. This is because they have the emotional resilience to understand that not every rejection is an insult, and they have the self-awareness to reflect on why the rejection happened. Was there a weakness in the pitch? Is the market opportunity truly compelling? Did the investor misunderstand the value, and if so, why?

When founders react with anger after a rejection, it demonstrates a lack of these skills. It shows they lack the maturity to handle tough situations professionally. And if that’s the case, why would anyone want to invest in them?

After all, building companies is an emotional rollercoaster with constant highs and lows and an endless stream of rejections. If you’re the type of founder who lets emotions dictate behavior in meetings with potential partners, what happens when you face crises like angry customers, product failures, or fierce competition?

Investors aren’t just looking for good ideas. They’re looking for leaders. They’re looking for founders who can stay calm and composed when things go wrong—because, spoiler alert: things will go wrong.

Why Investors Say "Maybe" Instead of "No"

I used to criticize investors who say "maybe" or "keep me posted" instead of giving a clear "no." "Maybe" seemed like a cop-out… a way for them to hedge their bets and keep deals warm without committing capital. However, after seeing my friend’s experience—and hearing similar stories from other investors—I can’t help but wonder if investors are cautious with their language for another, more defensive reason.

Perhaps investors avoid saying "no" because they’re protecting themselves from founders who handle rejection poorly. A polite "maybe" or "keep me posted" feels safer because it’s less final. It’s a softer letdown. And most importantly, it helps avoid potential fallout from angry and vindictive reactions.

From an investor’s perspective, why risk provoking someone’s anger when you can simply give a noncommittal answer that leaves the door open? After all, investors are human too. They want to avoid unpleasant conflicts and minimize unnecessary drama.

Unfortunately for founders, these "maybes" can be misleading. They keep founders chasing investors who were never truly interested in the first place, wasting time and energy instead of focusing on other opportunities. This means that as disappointing as a "no" is, it’s infinitely better than false hope.

Since "maybe" wastes the founder’s time but is easier for investors, I’m starting to think one of the best things entrepreneurs can do is signal to investors that they have the emotional maturity to handle rejection.

How to Signal Your Ability to Handle Rejection

Obviously, the goal of every fundraising pitch is to get a "yes." But if you want to avoid hearing "maybe" instead of a straight "no," you should intentionally demonstrate that you’re the type of entrepreneur who can gracefully accept a "no." Here are a few ways to signal this level of maturity to investors:

Openly Discuss Potential Weaknesses

In your pitch, make it clear that you’re not blind to the risks and challenges of your venture. Discuss potential weaknesses in your business or acknowledge gaps in your current execution plan. This shows humility and signals that you’re prepared for constructive criticism of your ideas. Investors will appreciate that you can look beyond your own enthusiasm and be pragmatic about potential obstacles.

Ask for Criticism Early

When meeting with investors, regularly ask for feedback throughout the pitch, not just at the end. Phrases like "I’m curious if you see any red flags in our approach" or "I’d love to hear your thoughts on what we could improve" show that you’re open to critical feedback. When you demonstrate this openness early in the conversation, investors are more likely to believe you’re mature enough to handle a "no" if the discussion heads that way.

Share Past Experiences with Rejection

You can build credibility by briefly sharing a story about a past failure or tough moment in your entrepreneurial journey that you overcame by listening to feedback and adapting. For example, you might say, "One of our earliest customers initially rejected our product because we hadn’t solved problem X, so we pivoted and addressed that issue, and now they’re a loyal customer." This shows you’ve faced rejection before, learned from it, and improved—exactly the resilience investors look for.

Manage Your Body Language and Reactions

During the pitch, stay calm and positive. Investors are observing not just what you say but how you react to their questions. If you flinch, get defensive, or seem uncomfortable when they express doubts, they may assume you’re not ready for tough criticism. Conversely, if you remain relaxed and engaged—even when faced with pointed questions—you signal that you’re mature enough to handle rejection gracefully.

Express Gratitude Regardless of the Outcome

Set the tone for the entire interaction by expressing appreciation for the investor’s time early in the pitch. A statement like "Regardless of the outcome, I’m grateful for the opportunity to share this with you and hear your insights" shows you don’t take the pitch personally and are prepared for any answer. This signals emotional maturity and the ability to separate business decisions from your self-worth.

Ultimately, the core goal of the above suggestions is to show investors that you’re not afraid of facing a "no" because you see every rejection as an opportunity to improve. If you can signal this mindset before investors give their answer, they’ll feel more comfortable giving you a clear "yes" or "no" rather than hedging with a noncommittal "maybe."

Moreover, demonstrating your maturity around rejection significantly increases the chances that investors will want to invest in you… if not now, then perhaps in the future. After all, investors understand that the best entrepreneurs aren’t those who avoid rejection. They’re the ones who are willing to face it head-on and use it to improve. By showing investors you’re that kind of founder, you take a crucial first step toward becoming the founder they’ll be excited to invest in.