Tactical insights for first-time founders to outsmart the burn, the churn & the breakdown.
Hey Founder,
You know what the real currency of the most successful founders is?
Not capital. Not connections. It’s rejection.
Back in 2013, I was scrubbing dishes in NYC, firing off 200+ résumés and stacking nothing but “No’s.”
Until one random “Yes” from an Indeed ad with the odd title Global Venture Development, cracked the door open.
That single “Yes” launched a startup journey that’s carried me through the last 12 years, and it’s still unfolding in 2025.
Lesson? Rejection compounds. Hope doesn’t.
This issue is all about the strange economy of “No’s” and how to make it work for you.
The Margin
The “Yes” Illusion
Founders love to chase the “Yes.”
The signed deal. The investor wire. The logo win.
But behind every “Yes” is a long string of “No’s” and that’s the part no one posts about.
Colonel Sanders got over 1,000 rejections before KFC became a thing.
Daymond John got turned down by 27 banks. He used his mom’s house to fund FUBU.
Canva? Started as a school yearbook app. 100+ rejections later, they got one check. Today: 220M+ users.
James Dyson: 5,126 prototypes.
Howard Schultz: 217 investor rejections.
Zach Yadegari: Rejected by 15 top colleges, built CalAI, made $30M in year one.
Rejection isn’t failure. It’s feedback.
It’s the dataset you use to adjust and go again.
Tiny Reframe
Rejection feels personal when we confuse it with identity.
But in most cases, it’s not about you, it’s about the offer, the timing, or things you can’t see behind the curtain.
Founders often forget that. We internalize the silence, the pass, the “not right now.” But rejection isn’t feedback on your worth. It’s feedback on fit.
Like missing a serve in tennis, the point’s over, not the player.
With enough reps, “no” loses its sting. It becomes a data point.
And eventually, just part of how you get to “yes.”
Even Sam Altman agrees:
Why You Should Care
Every “no” leaves a trace.
It tells you something about your pitch, your timing, your clarity, or even your market. If you’re listening, rejection becomes research.
Second: most people don’t say “no”, they say nothing.
That silence often comes from not being asked.
When you hesitate, you miss out on warm intros, honest feedback, or a simple favor that could change your trajectory.
And finally, it’s a numbers game.
In cold outreach, PR, and fundraising, success rates are low (1.5-5%). But they’re real.
You don’t need everyone. You just need a system and the discipline to play the volume game without burning out.
Margin Moves (Building a Rejection Muscle That Actually Serves You)
1. Start Smaller
Big asks get big rejections. Instead of going all in, try slicing your ask into something lighter.
Pitch not converting? Ask for feedback, not funding. Client not biting? Offer a test run, not the full package.
Smaller asks build trust and trust opens doors.
2. Log the “No’s”
Rejection feels random when you don’t track it. But there’s almost always a reason: price, timing, confusion, misfit. Write them down.
Keep a simple log:
Date | Prospect | Ask | Channel | Response | Objection | Root Cause | Next Move
Review weekly. It’ll sharpen your instincts and your offer.
3. Follow-Up Is a Skill, Not a Second Thought
If you’re not following up, you’re leaving opportunities on the table.
Draft a few short follow-ups (Day 2, Day 5, Day 10). Add something new each time: a data point, a reframed benefit, a testimonial.
Then schedule them. Let tools (even Gmail) do the work.
4. Track Your Touchpoints
Look back at the last 10 “No’s.” Where did the thread fall apart? Was it message #1, #3, or when the channel changed?
Build your own playbook:
Eg: Email → LinkedIn → DM → Light ping → Call → Let it breathe.
No one touchpoint closes the deal—consistency does.
5. Avoid the Desperation Trap
Persistence is good. Neediness isn’t.
A good rule: no more than 3 follow-ups over 2 weeks. Then give it a cool-off period (30 days works well).
And if you’re just repeating yourself, stop. Add something meaningful or move on.
Tough Love Corner
A founder emailed me:
“After a year of growth, every customer negotiation centers on price. Our larger prospects say we’re ‘too expensive for an unproven product,’ while new customers almost always ask for discounts, and it’s getting harder to close deals at our target rate. Should we hold the line, or drop prices? Any guidance? Thanks!”
You don’t have a pricing problem. You have a perception problem around risk, value, and clarity.
When prospects say you’re “too expensive,” they’re really saying:
“I don’t fully get what this solves.”
“This feels risky.”
“I’m not sure it’s worth it... yet.”
Here’s how to shift the conversation without racing to the bottom:
1. Segment your approach
Enterprise buyers want proof. Don’t lower the price, offer a low-risk pilot.
For smaller customers, tier your offer or break it down. Meet them where they are, without undervaluing yourself.
2. Anchor with contrast
Use price psychology. A higher “premium” tier makes your core offer feel reasonable. This works in SaaS, services, even coaching. It’s not trickery, it’s clarity.
3. If you discount, do it with rules
Make it conditional: pay upfront, commit longer, refer someone.
And in services, never discount your rate. Instead, discount a one-time fee or offer bonus hours. Protect your perceived value.
4. Lead with results, not features
“$480K saved” lands better than “automated reporting.”
Your ROI is your best defense against price objections.
5. Choose quality over quantity
You don’t need every deal.
A few right-fit clients at full price will do more for your growth (and sanity) than chasing volume at a discount.
Bottom line:
If everyone’s pushing back on price, the fix isn’t a discount.
It’s sharper positioning, clearer ROI, and the courage to say no when it’s not a fit.
Got a burning founder question?
Send it my way, just hit reply.
Founder’s Toolbox
1. How Resilient Are You to “No”?
Take this quick self-check.
If I were in your shoes and scored…
4 or less → Run a “20 No’s by Friday” challenge.
5–7 → Test new channels: short InMails, cold DMs, a 90-sec Loom.
8–10 → Pressure-test your offer. Start tracking why people say no.
2. Tools to train your “No tolerance”
The one way you can test how strong you are in receiving nos is by reaching out to potential investors, even if you don't need them now:
Signal by NFX → Filter investors by stage, sector, geography.
Pro tip: Don’t pitch, ask for feedback.
Investors remember the founders who respect the long game.
Need help getting started?
Here’s a small pack of plug-and-play templates for cold outreach and follow-ups.
Before You Go...
“No” is how the market gives feedback. Don’t take it personally, take it as direction.
Ship after every rejection. That’s how you outpace founders still waiting on “maybe.”
And that’s your real moat.
See you next Thursday,
— Mariya
What did you think of today’s issue?
Hit reply and let me know. I read every single one (for real).
About me
Hey, I’m Mariya, a startup CFO and founder of FounderFirst. After 10 years working alongside founders at early and growth-stage startups, I know how tough it is to make the right calls when resources are tight and the stakes are high. I started this newsletter to share the practical playbook I wish every founder had from day one, packed with lessons I’ve learned (and mistakes I’ve made) helping teams scale.
