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8 reasons you should think about joining an accelerator program as a startup
Most people don't even think about an accelerator program when starting up, mainly because they don't know about them, and they are essentially a jumpstart program that puts you in the room with people who are already successful and will help you out along the way. There are plenty of businesses out there that have been successful simply because they joined an accelerator program and knew what to do, and especially what NOT to do, when it came to their business and day to day operations.
You can't go about your day thinking you know everything about your business and how to run it, because you don't, but you can learn over time through an accelerator program! Getting into a program like this isn't the easiest thing to do, mainly because you need to spike the interest of the people who are already in them, but once you're in you have unlimited access to successful minds and guidance.
So, let's get into these 10 reasons you should join an accelerator program as a startup!
Detailed Support System
No matter your question, you will likely have multiple people answering you in order to lead you in the right direction. They want to see you succeed so they won't tell you false information and lead you down the wrong path. They made mistakes throughout their journey, learned from those mistakes, and now they're telling you what you need to do in order to avoid those mistakes.
Many activities to be done
You might not know how much actually goes into running your business, but the people within this special group do, and they will tell you every chance they get if you need help. You might not think of building relationships with other business owners within your niche, you might not think of setting up detailed social profiles and being active on them, you might only think of setting up a website and an adwords campaign. This program will tell you everything you need to do, and usually, they'll have guides to look through in order to go in the right direction, so be sure to take in all the info you can.
Access to potential investors
A lot of these programs will have successful business owners within them who now invest in other businesses in order to make even more money. These investors know you've made it within the group because your business has potential, so they don't have to worry too much about investing, but they might still need you to answer a decent amount of questions before writing a check. Just being a part of this program allows you to talk with these investors one on one and not have to talk with a secretary or manager of their firm.
Quick access to vast pools of knowledge
The support system is great within these programs, but the true power comes from talking to the people directly, which will get you detailed answers telling you what to focus on. They will give you their point of view related to their own business and you can use it however you want.
Access to future customers
The majority of people within these groups have already accumulated plenty of sales, but the real beauty of accelerator programs is that you can partner up and share traffic with other people in there and increase your sales overnight.
Development of specific skills
You may not know what skills you need to have for your industry, but I'm sure the group will let you know exactly what should be researched and tested before going any further. Think about it, if you were trying to code up a website and didn't know what language to do it in, you could ask the group and they would give you a detailed response along with resources on where to learn that specific language easily to get your new website coded up.
Dedicated risk analysis and management
Your risk analysis and management comes in the form of the members themselves. You can post an idea you had in mind and they will either tell you to go for it or avoid it at all costs. The senior members of this group have been building businesses for a while and know when to go all in or when to fold, so be sure to listen to them after getting accepted.
When you feel down, you can always go to this accelerator group and post your problems. They will likely pick you up, dust you off, and pat you on the butt while saying "Get back in there, you can do this!" and it's going to perk you up a lot. They've been in your shoes, some more than others, so they know it's always going to be darker before the light appears, and that light is profits
Accelerator programs are great things to join, but they might not be right for everyone, so be sure you know what you're getting into. Some accelerator programs require you to put up some sort of equity in your business before you even get in, which I think is a bit ridiculous because you don't really know how much it will really help you, so try to find the right group with great minds and doesn't require you to give up equity in order to join.
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