No means no to that particular person at that particular time. It does not mean that everyone will say no. I'm a big American Idol fan (and it is great this year with Harry Connick Jr.). When contestants are eliminated, they are tearful and rightfully so because American Idol is a huge opportunity. However, a no from the judges or even from America for those who make it that far isn't necessarily the end of the story.
Clay Aiken came in second place and has had a much bigger career than the winner, Ruben Studdard. Jennifer Hudson made it to seventh place and then went on to win an Oscar, not to mention she's seen everywhere as the face of Weight Watchers. Chris Daughtry made it to fifth place but has had a substantial career with his own band, Daughtry, with several number one albums.
A no can take the wind out of you for a minute, but it gives you time to regroup and try again. No is temporary, it isn't final until you say it is.