Every entrepreneur would enjoy a faster growth rate with fewer “hiccups” along the journey. To make that happen, we have to find and maximize all the possible resources around us. This could include learning lessons from other entrepreneurs, finding vetted coaching resources, or learning what we don’t know before it impacts our business. This is where a business accelerator provides massive benefits to entrepreneurs.
Business Accelerators come in many forms and have different focuses. Some provide capital and have a vested interest in the business succeeding so they can get a return on investment and others are built to grow you as a leader. When choosing a business accelerator, you will need to determine which style is best for the long-term growth of your business. To do that, we will share a few things to look for in a business accelerator.
Mastermind / Peer Group – Learning from other people’s successes and failures is one of the fastest ways to grow your business. By meeting with other entrepreneurs on a regular basis, you can learn what works and implement those items in your business. You can inversely learn what doesn’t work and avoid a major setback.
Mentorship – Mentorship in this example is a recurring one on one interaction with someone who has a larger business or more experience in a given area than the entrepreneur. Mentors can be crucial in providing knowledge and introductions.
Accountability – The best business accelerators provide a level of accountability that pushes you to excel. This often includes an accountability system with regular check-ins with a group of people that are all looking to grow their business.
There are a number of different ways that a business accelerator can help you grow your business faster and with fewer headaches along the way. It will be up to you to find the right accelerator for you and to ensure it drives the results that you are looking for.
EO helps leading entrepreneurs learn and grow through peer-to-peer learning, once-in-a-lifetime experiences, and connections to experts. Contact us today to learn how EO can help accelerate your business growth.