Accepting Criticism with Grace and Appreciation

Critiques are a funny thing - in the business of venture creation, they're absolutely essential. Could you imagine *not* getting good, critical feedback on your company's strategy and presentations? I just don't understand how companies would improve without them.

However, some companies and individuals and I've spoken to lately have reacted quite negatively to critiques I've given them. So, for those of you who don't react well to criticism, here are a few thoughts:

1. It's tough to accept criticism - fight the natural reaction to defend yourself, and try to learn from the comments. There aren't a lot of people who are willing to invest energy into giving you a decent critique. So, when you do get criticism, analyze it and learn from it. (Credit and thanks goes to Zen Habits - good advice for everyone, including yours truly).



2. Spared feelings = zero feedback. If you get a polite "no", especially in the form of the "it's interesting, but it's just not right for us", you've learned nothing. VCs have to say no hundreds, if not thousands of times every year. They just get tired of people shooting the messenger, so a lot of them say the polite "no" when turning down deals. (Link: A great list of VC-isms from Bill Snow)



3. Success = dealing with rejection. According to Dow Jones Venture Capital, the top 8 venture funds in the US funded a total of just 56 web 2.0 ventures in 2006. So, chances are, Sequoia and other the top firms will turn you down - deal with it, learn from it, and move on.

So, what are we to do with our feedback? VC Josh Kopelman has a funny perspective on this, framed from the perspective of American Idol (is there anything better?):

• Simon (the ass): brutally honest, usually right.



• Paula (the polite): says something nice. Even if it's only about your shoes.



• Randy (the vague): lacks substance, but you got a high-five.

I have to admit, it's hard for me to change the way I give feedback. So, I guess I'll continue being a "Simon" (at least the brutally honest part, anyways).