English
Dansk
Why Investors
Say No
… and how to make them say yes
This is not a book about how to raise capital. It is a book about how not to be dismissed. 200 pages on the red flags that make investors hesitate – and what to do about them.
- 200 pages
- 4 parts
- 50+ chapters
- 5 formats
- English
A manual for avoiding red flags
Most rejections are not about the idea being bad. They are about small but telling signals that make an investor pause, question your judgement – and move on to the next case.
Why Investors Say No is written by investor and entrepreneur Magnus Kjøller and draws on the patterns he and the team at Kjøller have watched repeat since they started reviewing investment opportunities in 2008 – from small family-run businesses to billion-dollar tech ambitions.
A red flag is not disaster or deceit. It is an early sign of risk – the kind of risk that could have been avoided, and that convinces an investor the digging required probably isn't worth the effort.
The uncomfortable reality is that you will rarely be told the real reason. Most investors simply review too many opportunities to give every founder an honest answer. This book is that answer.
- What is Why Investors Say No?
- A practical book on why investors reject companies, and how founders avoid the mistakes that trigger the rejection.
- Author
- Magnus Kjøller, investor and founder of the investment company Kjøller.
- Length and language
- 200 pages, written in English, divided into four parts and more than 50 short chapters.
- Where can you buy it?
- Amazon (Kindle, paperback and hardcover), Payhip (PDF) and Saxo.dk.
Four parts – from the investor to the deal
The book follows the same order as a real investment process: first who you are sitting across from, then the business, then yourself – and finally the tools.
The Investor
How investors actually assess trust, fit and clarity – and why cultural differences decide more than most people think.
- Trust
- Fit
- Clarity
- Cultural Understanding
- Scoring Systems
The Business
The numbers, the materials and the structure. The part where most cases fall apart without the founder necessarily noticing.
- Know Your Numbers
- Pitch Materials
- Market Validation and Competition
- Bad Budgets
- Valuations
- Proceeds of Funds
- Dirty Books
- Corporate Structure & Cap Table
- Deal Structure
- Too Good to Be True
- Exit Strategy
The Founder
Behaviour. Investors invest in people – and this is where most unnecessary rejections are created.
- Professionalism
- Ambition, Energy & Focus
- Background Check
- Cooperation & Coachability
- Short Term Thinking
- Digital First Impression
- Artificial Intelligence
- Solo Founder
- Building from a Distance
- Other Common Pitfalls
Tools and Final Notes
The practical side: how the deal is put together, when not to raise at all, and what to do when the answer is no.
- Structuring the Deal
- When Not to Raise
- How to Handle Rejection
- Checklist
- Resources
Investors aren't looking for flawless plans. We're looking for founders who are grounded enough to acknowledge what they don't yet know. You don't get penalised for being early or uncertain. You do get penalised for lacking awareness.
From the book — Magnus Kjøller
For anyone who has to ask for money
The book is written for founders, entrepreneurs and business owners raising capital – whether it is your first attempt, or you have already collected a string of rejections without being told why.
It is just as useful for advisors, board members and investors who want concrete language for what actually decides an investment.
What it is not: a theoretical tour of the capital markets, or motivational filler.
Written by someone who makes the decision
Magnus Kjøller is an investor and entrepreneur behind the investment company Kjøller, which invests in ventures and real estate.
Before becoming an investor he built companies himself – made the mistakes and learned what it takes to build trust. That double perspective is what the book is written from: the founder's side of the table and the investor's.
Got a case? You are welcome to apply for investment – but read the book first.
Good to know
Get the investor's answer before you ask
200 pages that can save you a rejection you didn't need to get.