Ever wondered that startups like Airbnb, Sphero, Dropbox, Sendgrid and Talkdesk might have something very crucial common among them? Apart from the fact that they are all successful startups that the world is buzzing about, something that helped them in their initial stage to move forward with enhanced speed and knowledge is the fact that they all went through an accelerator program. Do they actually work? To clear your apprehensions about ongoing team bonding issues even after building a base of like-minded people, aligning with targets, working with numbers, etc., startup accelerators are there to help you flourish and accomplish your dreams. Let’s understand how we can make the most of them and provide you with momentum in the right direction.
- Accelerators can help get you in the right direction.
As an early-stage company, you are not only trying to avoid losing but you are trying to win. That rarely ever happens on its own. Thankfully, there are several people and organizations that can help you in your journey to success. Accelerator programs are one of the most approachable solutions to elevate your startup. Accelerators are not to increase your funding the moment you are a part of it. Rather, it enhances your business which in return increases your business. The modules are designed in a structured manner to incorporate startups at any stage of their journey without any obstacle and that is the most fascinating part of an accelerator program.
- Widen your arena of exposure and focus on the bigger picture.
Accelerators are an amazing way for entrepreneurs like you to learn the ropes of launching (and running) a business while also making valuable connections for its potential network. That is possible only if the founders select the right one for their needs. All accelerator programs are not similar. However, every accelerator may not make sense for your company’s vision. That said, it’s important to work with an organization that already has an established network in your desired location. Also, it’s important to notice the structure of these programs. Think about it, and make an educated decision based on the whole package.
- Learn, work and connect with established corporates.
Some accelerator programs work with established company ventures, by having a theme and assigning mentors to them which is not only interesting but attractive as well. But in some cases, a major company will run the whole program by itself. You will have access to these major companies with proven business strategies and an existing inventory of vast resources. You can learn from these major companies as they have dedicated enablers which constantly focus on accelerating growth for you and your startup, so you can seize the golden opportunity to form business alliances with them.
- Discover the most in a short period.
Don’t let the short duration of the program which varies between 4-5 months fool you, as they can be one of the most intense educational programs waiting out there for you. Accelerator programs are similar to a 2-year MBA program, distilled to tenure of a few months. During the program, a startup will be taught how to write a business plan, do pitches properly, find the right strategy to use, sharpen their vision and many more useful skills and techniques that will support you in accomplishing your mission.
- Ready to explore and open to challenges.
Accelerator programs look out and provide you with essential and appropriate mentors that are a good fit for your business idea. Mentors usually range from founders of startups to CEOs of major companies. They will advise you and some will work more actively and buoyantly during the period of the program. They will guide you about whether your business idea is displayed in the right way if your pitch is correct if you have the right strategies and resources, and if you have the right connections; there are many points that need to be addressed.
- Take your team to a higher level.
We all know the stories of major companies, which all started with a handful of like-minded individuals who shared a common vision. Each brought something new to the table and enabled one another to reach new heights that they couldn’t achieve on their own. Startups are all about team synchronization; it is probably