Accelerator programmes have been developed to help the startup or entrepreneur avoid the pitfalls of the company that’s just getting itself started. If you own a startup in Bangkok, you may have gotten your company off the ground, only to run into problems along the way with expanding your capabilities, product or services line and quality of management. These are common problems for growing businesses to have. Thankfully, there are plenty of organisations offering programmes that will help you effectively address any type of business problem you may have.
But before you rush out and enrol in an accelerator program, you should have a good idea what you can expect to receive from them. These facilities are not miracle workers who will take care of your business problems for you.
They are intensive training programmes that teach what you need to know to solve the problem yourself. They give you a leg up in the tech business community and provide you with the support and knowledge you need to take your business beyond the phase you seem to be stuck within.
Here are 7 ways that your startup can benefit from a comprehensive accelerator programme.
To say these programmes can be intense is an understatement. They are generally only for a fixed period of time, although the support you find in the various network of individuals you meet while in them, can last a lifetime. But within that fixed period of time, you’ll be exposed to, and be able to absorb, a wealth of knowledge very quickly. You’ll have mentors who will take a close, knowledgeable look at your business, find what you’re doing wrong, or could be doing better, and provide you with the knowledge of how to correct the situation you’re in.
Through this mentorship, you’ll have your skill-set focused on and developed. Often, we lose focus on what aspects of business we excel at and what aspects are better left to others. The mentors will be able to take an objective look at your skills and prescribe ways that you can better develop them to meet the particular challenges you’re facing. By focusing on improving your skills before you attempt to fix the problems with your business, you'll have much more success in recognising and knowing how to deal with the actual, instead of the perceived, problems.
You’ll learn how you can manage the risks of the type of business your company’s involved with. Every business has risks associated with it, but the key to success is understanding what you can to minimise those risks as much as possible, and how to cope with the risks that are simply beyond your control. This aspect of the accelerator programme will also tell you exactly how to assess these risks and where to look for them.
The mentors will also focus your attention on how your company can be expected to develop. Understanding the big picture in terms of the growth of your company will provide you with ideas to implement today, with an eye on tomorrow. This will help your company grow smoothly and intelligently, with a minimum of disruptions and slowdowns in your development.
An accelerator programme is a great opportunity to increase your business contacts as well. With the like-minded people you meet in the programme, you’ll find opportunities that you never would have thought of if you had kept your tunnel-vision focus on pursuing what you thought was the correct course of action. This business network can be invaluable as you seek new, exciting roads to take in the course of your business development.
These programmes offer regular 'demo days', in which they invite investors to visit and talk to the owners of what they see as being up-and-coming companies. This can also be an invaluable resource to utilise, especially when your company requires market capital. Even if the investors are not interested in funding your company, they may know and put you in contact with other investors who will be interested in your facet of the tech community. You never know where the next round of funding may come from, so it’s always good to spread the word about your company and what it offers to as many investors as possible.
Finally, while the programme will inevitably end at some point, making a good impression on your mentors will cause them to remember you and your company, meaning you’ve created a knowledgeable support network that will be there whenever you have a question or face a certain difficulty that you’re having difficulties with. This ongoing source of support can be crucial to your business and can go along way in giving you the self-confidence to make the right decisions about any business situation you're facing and convince you that nothing is impossible.
Academy Bangkok A Google Space at True Digital Park
True Digital Park has a wealth of valuable accelerator programmes to choose from. Contact us to discuss your business and which programmes would be the best fit for you and your company at this stage of your company’s development.