Remove #NO MATCH return from VLOOKUP query

Is there a way to make a cell blank if there isn't a match? I know I can do an IF statement where IF the value I'm trying to match doesn't appear in the table at all, do nothing, otherwise VLOOKUP. But seems like that may slow the sheet down because it's looking through that table twice, so doing twice the work.

Is that not true? Is there a simpler way? 

Thank you