With a new year comes new beginnings along with all the excitement of new ideas and unlimited possibilities. But like anyone who buys a gym membership in January can tell you, once the novelty wears off, the reality of achieving your goals requires a lot of hard work and consistency.
When you first start a new business, it feels thrilling. But getting a startup off the ground requires more than a good idea. Just as the gym gets less and less crowded as the year goes on, 20% of new businesses fail within their first 12 months.1 Within the first five years, 50% of businesses fail. To succeed, you need access to capital, mentors, a supportive network, resources and expert guidance.
Sometimes described as “startup boot camps,” business accelerators are intensive programs for early-stage businesses and entrepreneurs to fast-track their progress and lay a foundation for long-term success.
What is a business accelerator?
Business accelerator training is a system or program designed to give companies the support they need to reach their goals faster and more efficiently. These immersive programs generally provide mentorship, education, networking and accountability. It’s the business equivalent of getting a trainer, nutritionist and accountability partner to achieve your health goals faster.
In an accelerator program, entrepreneurs learn on the job, applying what they learn to their company in real-time and making adjustments with the support of experienced mentors. This kind of training condenses years of education into just a few months.
Who needs a business accelerator?
Business accelerators are for any companies or entrepreneurs in the early stages of building a business who want to take things to the next level. If any of the following statements have occupied your thoughts, a business accelerator may be just what you need:
- I really wish I had someone to ask about this who could give me some advice.
- My business is off to a good start, but I’m ready to grow. What is the next step?
- I’m ready to expand, but I need capital. How can I get connected with investors?
- Running a business is taking over my life. I feel trapped and overwhelmed. How can I find balance?
- How can I market my business to bring in more customers?
- My business is thriving now, but I’m worried about what will happen in a downturn.
A business accelerator program can help you with all of those questions and concerns while also unlocking your potential for growth and success.
How will a business accelerator fast-track my business growth?
Develop a peak-performance mindset
When it comes to running a business, the mindset is even more important than strategies. While 80% of business success is psychology, only 20% is skills.
The chokehold on any business is always the psychology and skills of its leader.
No amount of instruction or any number of tips are going to help if you aren’t prepared to lead your team and guide your company through periods of growth and over every obstacle. When you use a business accelerator you prime yourself for success by breaking down the limiting beliefs holding you back. You will learn to view failures as gifts and obstacles as opportunities.
You will learn crucial leadership skills so you are capable of communicating your vision for your company, inspiring your team and empowering your employees to maximize their potential.
Gain clarity and set actionable goals
Before you can set any goals for your business, you have to know where you are and where you are going. The outside perspective of a mentor or coach will give you clarity on where your company is now. They will point out your strengths as well as your shortcomings.
This will allow you to build a plan for your future by identifying your vision and creating a MAP, or a massive action plan, to get you there.
Get access to a community of high-performers
If you want to turn your dreams and goals into reality faster, you must put yourself in proximity with people who are playing the game at a higher level than you are.
One of the most beneficial aspects of a business accelerator is the relationships you will build with mentors and peers. As Richard Branson, the founder of Virgin Group says, “If you ask any successful business person, they will always have had a great mentor at some point along the road." Oprah, Mark Zuckerberg, Tony Robbins and Howard Schultz all credited mentors for their success.
As a part of a business accelerator training program you will get to learn from experienced and successful leaders as well as join a community of driven entrepreneurs. This community gives you a chance to ask questions and float ideas. You’ll learn from others’ mistakes and triumphs, saving you years of trying to learn from your own trial and error. And when you make progress toward your goals, you have a community with whom to celebrate your wins.
Learn effective strategies for business growth
Business accelerator programs provide a toolkit for optimizing your business, speeding up your growth and increasing your revenue. Here are some of the concepts and strategies you might cover in your business program:
- The power of strategic innovation
- Value added-marketing to bring in the ideal clients
- Closing more sales ethically
- Building and empowering the perfect team
- Creating raving fans internally and externally
- Financial management and record keeping for success
- Streamlining your business to give you more time
For new business owners looking for executive coaching, business accelerator programs are a great fit. You’ll get everything you need to transform your business from top to bottom and bring in record profits.
January is the time for new beginnings. Act today and close the gap between where you are and where you want to be. Changing your business will change your life; there’s no better time than the present to start living the life you’ve always dreamed of.
1 https://www.bls.gov/bdm/entrepreneurship/entrepreneurship.htm
