What Two Tech Startups Learned at a Business Accelerator

     In this article, it spoke about 5 tips of how to growth startups with a business accelerator or incubator program.The tips was told at the Triangle Startup Factory entrepreneurship bootcamp.

1. Disprove your assumptions as quickly as possible.

     Anil Chawla launched startup. He had to be constantly making predictions and assumptions. Someday, he tests his theory to his client but it was disproved.

2. Build your business one step at a time.

     Deepak Gopalakrishna launched startup and made long-term goals for the company. However, all mentors said startup needs “iterative process of building.” Built and test is most important thing when launch the startups.

3. Spend your money to make aggressive changes, not just to stay alive.

     Chawla says that you have to use the money for aggressive challenges. Even if you don’t have the benefit of a instant cash infusion from an accelerator, think about doing more with your cash reserves.

4. Make money ASAP.

     “Generating revenue early was definitely pushed a lot,” says Gopalakrishna. There are so many investors and founder have to show them how much money earned. “Revenue is definitely a huge priority here as far as investors are concerned,” he says.

5. Pick up the phone.

     Founder always carries phone because nobody knows when call from potential customer. Before you have spent time and money creating a website and a way to sign up for a product or service, talk to your desired customer and see if they are interested in what you are selling.

URL
http://www.entrepreneur.com/blog/224793