A business thought as of now exists, the whole substance of the business model canvas is being executed, founders and the core squad is formed. As you come, you may discover critical impediments, particularly with respect to your endeavors to access a more extensive market. The objective, which is no less significant than income, is to give an unmistakable explanation to you and the center group whether the items and organizations that you oversee are suitable and focused on. One approach to discover is to follow the accelerator program.
Unmistakably the accelerator program is definitely not a required essential for startup achievement, however, accelerators are demonstrated to have the option to help from different parts of the business, from operational to overseeing assets for item advancement.
Accelerators will suit you in the event that you and other prime supporters have committed themselves completely to dealing with the startup that you oversee. Additionally, it would be far and away superior if your whole office space—called "space" since it accepts your office is still as large as a private office space in cooperating space—is as yet adaptable for moving spots on the grounds that there is a likelihood that you will participate in a concentrated program from one quarter to one semester. It's alright if subsidizing is still in little seed, yet you and the group are prepared for an extraordinary startup advancement condition that requires high duty.
Strangely, subsequent to enlisting with the accelerator, frequently just 1-3% of startup registrants are then acknowledged. Dismissal is a type of evaluation and regularly turns into a harsh pill for beginner specialists. In any case, it's imperative to understand that, as founder, your essential objective is to work together. At the point when dismissal is excessively close to home, you can lose the chance to get the hang of something. To foresee this a bit, you have to learn two principle things at the top of the accelerator about the startup.
Fundamental problems and business model
"Are you solving the real problem—not the composition on the slide deck? Are you targeting the right audience for that problem? Is your product potential enough to complete it—and can it be linear with the parent company's business vision of the accelerator? Is the problem ‘touching’ enough so that your product users might be able to change their habits? "
At least, you can answer the questions beforehand. Sometimes founders are too in love with an idea and rush to build it and to think that the accelerator will solve all the validation matters. In fact, before reaching that point, verification from others also needs to strengthen the reason your startup can be intensely sharpened by a startup accelerator.
Ability to persuade
Often, the problem is not the business model or market dynamics. The problem is that you cannot solve the problems one by one so that everything is not conveyed convincingly. As a founder, inevitably one of your tasks is to become a persuasive storyteller so that the process of pitching, product validation, and market research can go according to plan.
To overcome this problem, start by placing yourself in the shoes of business incubators, accelerators, or investors. Why you? Why should they? Why does it have to be now? Build pitch with substance to encourage urgency. If the founder is the name of a superhero, then persuasion is his main superpower. Persuasive stories will help you acquire many things going forward.
Following the accelerator, a startup is the beginning of the journey. That is why mature founders understand that their work is not to please all investors, corporations, incubators, accelerators; Founders just need to build a great business. Many results from the cold hand of startup accelerator which is now a world technology giant, let's say one of them is Airbnb.
The startup from San Francisco, United States, known for disrupting the real estate and tourism industry, experienced an important phase in its journey involving accelerators. Nathan Blecharczyk, Airbnb's Chief Strategy Officer, claimed that there was a time when he and two other co-founders almost gave up after the failure to get capital, along with the recession at the end of 2008.
Long story short, the three Airbnb founders agreed to join the accelerator program at Y Combinator for 13 weeks. In 13 weeks, they target achieving $1,000 each month. The result? They managed to earn $4,300 per week and with progress every week.
"During that period we got some suggestions that made us rethink how we met with our users, how we often did things with low scalability, how we photographed property. All of this allows us to show significant growth every week, "said Blecharczyk.
The accelerator program is not just about farming and learning. This is also the test phase for every part of your startup. Do you have a solid founding team? Is your business strong enough to answer market challenges? Can you pivot for business sustainability?