At first, many of the best business ideas seem unimaginable and even laughable. So if you’re hearing a chorus of no’s — it may actually be a good sign. Don’t be discouraged by rejection. Instead, learn from it. That’s precisely what Tristan Walker did. After stints at successful start-ups, he launched Walker & Company, makers of the Bevel razor, and learned how to push past rejection to find the right investors and scale his vision. Here’s what really stays with us from Tristan’s episode:
Accept that rejection and entrepreneurship go hand-in-hand. The first truth of entrepreneurship and investing is that the biggest ideas are contrarian, so you will inevitably come up against hesitation and cynicism. But remember, large companies rarely take risks on big, contrarian ideas — but you can. So, like Tristan, assume and accept you will get many no’s, but persist until you find a yes.
View no as a gift. The most successful entrepreneurs listen closely to the no’s they receive. They analyze the responses and reasons they are given, looking for clues and data that can help their business, whether it leads them to refine their pitch, research missing information, or anticipate and address doubts.
Pay attention to the quality, not the quantity of rejections. Tristan knows that when the quality of the questions in a pitch drops, the conversation is over. That’s because half-hearted questions are meant to pacify entrepreneurs, whereas hard no’s backed by solid reasons provide information to learn from.
Focus on what you’re the best person in the world to do. Tristan urges every entrepreneur to do this. His advice: “Be thoughtful. Increase your humility, and really think about what you’re uniquely qualified to do. Then, do it.” This will give you your truly unique and competitive edge, and empower you to push through the no’s to find your yes.
How the Word "No" Inspires Change, With Princess Reema
To change the status quo, we need to lean into whatever advantages we have. Recorded live at the Masters of Scale Summit in San Francisco, Princess Reema bint Bandar Al Saud of Saudi Arabia talks with host Bob Safian about how anyone can use their advantages to push the boundary of what’s possible.
3 QUICK QUESTIONS From Our Lightning Round With Tristan Walker
What's Tristan's smartest time-saving hack? That and more answers to Reid's rapid-fire lightning round questions, from Tristan's complete interview.
Reid: Where’s your favorite place to think big?
Tristan: The hiking trail at the Dish at Stanford
Favorite movie ever?
The Godfather
Your smartest timesaving hack?
Writing down and planning for blocks of free time. Most often, folks just look at their calendar and see they have a meeting in five minutes, and then they don't know what to do with their free time. So I actually write down my free time and the things that I want to do within that free time to save me time at the end of the day.
To listen to the rest of Tristan’s complete, uncut interview (along with the full collection of complete interviews), become a Masters of Scale member! Download the Masters of Scale Courses app to start your 7-day free trial today.
