If you have signed up to take part in a startup accelerator program, going through this article will not waste your time. Here are the 5 most effective tips by which you can succeed in a startup accelerator:
1. Don’t be over-competitive with the other companies in the accelerator program
Since you will be working alongside a lot of different startups in the accelerator program, you might get over-competitive with a few of them. Especially with those companies which have similar a product or service to offer as yours. However, it is strongly suggested to help other companies with whatever you can and don’t compete with them. If you are nice to people, people will be nice to you. In an accelerator program, you are needed to concentrate on what’s on your plate rather than looking at others.
2. Listen to the experts
You’ll be in a much better place if you listen to the experts in the accelerator program. Even if you have to change your business model a little bit or divert your finances elsewhere, you need to trust them with their advice. They are hired just one purpose – to mentor you with your precious startup. If you don’t take their advice seriously, you will be missing on a lifetime’s worth of an opportunity to build a successful business concept. You can join Yuncture and witness some of the best young talents working together in synergy.
3. Start pitching well before the Demo day
No doubt that the ‘Demo-day’ is probably the most important aspect of a startup accelerator program when hundreds of potential investors come in one place to listen to your pitch and potentially invest in your startup. However, do not depend solely on just one final day. You should start pitching well before the demo day. Go out of your way and search for investors outside the program. On the day of resenting your demo, there will be a lot of competition that you can avoid by starting early.
4. Be honest with your work
You may find a lot of distractions in an accelerator but you’ll have to take control of your timings and make sure that you don’t waste them. Each and every hour of your work can determine that future of your idea and you wouldn’t want to jeopardize your startup because you love hanging out with people. Do the assignment on time and take the program seriously. Be honest with your work and push yourself to your limits.
5. Prepare for all the possible failures
You just can not win if you do not know your flaws. It is okay to fail several times but it is not okay not to learn from your mistakes. Take accountability of your failures and make it your strong point. Prepare for all the possible outcomes and do as many dry runs as possible. Have patience and faith in your work and yourself. Keep yourself motivated throughout the accelerator program and let others see the positive attitude of yours.
We hope these tips will help you in succeeding your startup accelerator program. Keep reading our articles for many more informative and effective business tips.