Someone asked me, “What advice do you have for founders who have raised some money but are having trouble raising more?”

A: Raising capital for your startup can feel like navigating a maze, but one key insight can make all the difference: rock with people that are rocking with you.

When it comes to finding investors, focus your energy on those who understand your vision, believe in your team, and are eager to join you on this part of your journey. These are the people who will help you build, grow, and thrive—not just financially, but also strategically.

1. Optimize Your Time

Yes, fundraising is a numbers game, but it’s also about alignment. Spending too much time trying to convince someone who isn’t excited about your business can drain your energy and slow you down. Instead, prioritize investors who resonate with your mission and are genuinely enthusiastic about being part of your story.

A quick “no” is better than a lingering “maybe.” Of course, a “yes” is the ultimate goal, but a decisive “no” frees you to move on to productive conversations and the right investors. The best investors are those who are excited about your team, your current stage, and where you’re headed next.

2. Understand the Meaning of a ‘Pass’

When an investor says no, it often reflects their assessment of where your business stands at this stage of its journey, including the effort and challenges they anticipate in driving its growth from its current position. Their decision is typically shaped by a quick evaluation of your pitch, business model, team, and resources. However, this judgment may not always offer a fair or accurate reflection of your true potential.

If a prospective investor chooses not to invest at this time, you can ask for feedback or the reason behind their decision. However, keep in mind that not all investors will provide a candid response. You may receive a generic explanation about traction, growth, or market alignment, and at times, their feedback may not even apply to your business or the specifics of your pitch.

The key is how you choose to interpret the feedback. You might decide to ignore it, use it to refine your pitch, or adjust your list of target investors to focus on those who are better aligned with your business or its current stage.

Reframe the “no” as a signal that the investor isn’t aligned with where your business is right now. It’s not a rejection of you; it’s an opportunity to redirect your focus toward investors who are ready to join you now.

3. Keep the Right Energy in Your Corner

Remember: fundraising isn’t just about the money.

Building something meaningful takes more than just a strong internal team; it also requires the right investors by your side. The ideal investors will have the capacity to stand with you through tough moments and celebrate your successes. They will align with your vision, understand the bigger picture, and provide or recommend the resources, insights, and guidance needed to navigate challenges effectively.

On the other hand, the wrong investors can create obstacles that hinder your progress, potentially impacting both your business and your personal journey in ways that are not constructive.

Remember that with every pitch, every conversation, and every “no,” you’re getting closer to the right one. Stay focused, keep your energy where it’s appreciated, and trust the process.

Apply to your business, your personal life, or where applicable.