Our first VC meetings were practice runs and a source of free high-value consulting. The very first one couldn't understand our product, so we knew we needed t

Our first VC meetings were practice runs and a source of free high-value consulting. The very first one couldn't understand our product, so we knew we needed to edit. The second was excited but said we were in a great position to bootstrap. The third agreed and had some great suggestions that we took to heart. We didn't need money at the time so it was not the same as your situation, but VC will often just not click with a company. It is actually a lot like dating in that they are trying to read the people and what they're saying and projecting it out over the course of the relationship. They all came back, unsolicited, in 9 to 16 months, but by then we had reached a point where we were cash-flow positive and working with pilot customers to refine the product for launch. VC will rarely say no directly because things can change at any time. NB: This is Silly Valley, where VC are thick on the ground.