Dan Martell - November 24, 2015


5 Ways to Create Your Own “Personal” Startup Accelerator


Episode Stats


Length

5 minutes

Words per minute

216.61102

Word count

1,211

Sentence count

79


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

5 ways to create your own startup accelerator. 1. Read more books about startups 2. Build a support group 3. Create your own pitch deck 4. Watch a lot of videos 5. Pick a date

Transcript

Transcript generated with Whisper (turbo).
00:00:00.040 Five ways to create your own startup accelerator.
00:00:03.380 Today, I'm really excited to be sharing with you guys five ideas.
00:00:06.540 You know, if you think about it, there's 1,500, maybe you didn't know this,
00:00:09.380 1,500 startup accelerators in the world,
00:00:12.360 and only 3% to 5% of applicants actually get in.
00:00:15.900 So that's kind of crazy, because if you think about it,
00:00:17.820 that's a whole lot of other startups that don't get access
00:00:20.920 to that kind of information and advice and counsel,
00:00:23.720 and that's the wrong that I want to write today.
00:00:26.680 Now, I get it. It's a process. Not everybody can get in.
00:00:29.380 but I believe that everybody can create their own version
00:00:32.680 of a startup accelerator.
00:00:33.860 And that's what I'm gonna share with you guys today
00:00:35.080 in this video.
00:00:36.120 The first thing that you can do
00:00:38.120 is start reading more books about startups
00:00:40.700 or even better, core blog posts.
00:00:43.640 I mean, think about this.
00:00:44.500 On core, you have other entrepreneurs, other investors
00:00:47.260 that get the questions that investors might ask them
00:00:50.400 or other startups ask and answer those questions
00:00:52.580 so you can start to learn the language,
00:00:54.600 the lexicon of the startup world.
00:00:57.200 Read the books.
00:00:57.900 There's a bunch of founders that have written these amazing startup books.
00:01:01.400 I'm going to link some of them below in the comments, but anybody has access to this.
00:01:05.540 So don't wait.
00:01:06.820 If you get rejected by applying to a startup accelerator or you feel that you need to be
00:01:11.660 in one to be successful, please don't let that stop you.
00:01:14.960 That is not the case.
00:01:15.840 So number one, read great books.
00:01:17.920 The second one is bringing people around you to ensure that you're really building that
00:01:22.200 support group.
00:01:22.780 And I call that founder's lunches.
00:01:24.320 So one of my strategies that I've been doing for over a decade is bringing like-minded entrepreneurs together to break bread.
00:01:30.400 And that could be lunch or dinner.
00:01:32.040 I mean, if you think about it, most accelerators, what they do is they essentially have office hours where they coach with you and they talk to you.
00:01:38.020 But once a week, they'll bring in a pretty notable entrepreneur to come in and share their story.
00:01:42.820 I mean, I've been a mentor for easily a dozen different startup accelerators.
00:01:47.080 So I understand their programs.
00:01:48.280 But the same advice that you can get by being in there once a week,
00:01:52.520 going in, learning from the other entrepreneurs or hearing their stories,
00:01:55.500 you can get every week using this strategy, Founders Lunches.
00:01:59.460 Bring people together, share their stories,
00:02:02.400 have you share your story so far of getting going,
00:02:04.860 and it will build that base, that foundation to create your own accelerator.
00:02:09.340 So that's number two.
00:02:10.100 Number three is you really want to create your own pitch deck.
00:02:14.100 Because to me, it's not about a business plan.
00:02:17.480 People talk about a business plan.
00:02:18.960 I call it a guest plan, okay?
00:02:20.980 But having your own pitch deck and creating, you know,
00:02:23.660 those 10 magical slides of information about your competition,
00:02:28.000 your market, your strategy, your team, your unfair advantage,
00:02:31.180 all these different aspects will just get you crystal clear
00:02:34.160 on what you're building.
00:02:35.420 And that's what you would learn if you were in a startup accelerator.
00:02:38.120 That's what they teach you.
00:02:39.760 They sit down with you and they say, okay,
00:02:41.400 you need to understand your competitive set.
00:02:43.160 You need to understand how to build a world-class team.
00:02:45.240 But you can do this for yourself.
00:02:46.760 and having that force and function of creating a pitch deck
00:02:49.860 for your startup is gonna be a great way
00:02:52.500 to get the same value that you would
00:02:54.200 if you were inside an accelerator.
00:02:56.000 Now, the fourth thing I wanna share with you guys
00:02:57.840 is really to watch a bunch of videos.
00:03:00.700 You know, these videos, my videos,
00:03:02.160 I talk to entrepreneurs and tech founders all the time
00:03:04.600 so you can watch my videos.
00:03:05.740 You can watch, there's so many other events
00:03:08.800 that record their videos.
00:03:10.200 Go and search an event and go watch all the presenters
00:03:12.420 at those events.
00:03:14.060 You can even watch pitch practice.
00:03:15.560 You can watch Startup 101, Startup School.
00:03:19.280 There is an unlimited amount of videos.
00:03:22.460 You could start today and you would never get done
00:03:24.520 because there's still new ones being created all the time.
00:03:27.460 But make it a daily practice.
00:03:28.920 This is what I want to challenge you guys to do is
00:03:30.260 maybe at lunchtime when you sit down to eat,
00:03:32.780 you also say, I'm gonna watch an hour of startup videos.
00:03:35.920 Again, it's to be immersed in it,
00:03:37.520 to understand what are some of the best practices,
00:03:39.640 what does a great pitch look like,
00:03:41.400 and just model those behaviors and the attitude
00:03:44.960 and the beliefs and the confidence
00:03:46.480 that some of these founders have.
00:03:48.920 I want you to get inspired by watching those videos.
00:03:51.500 So that's number four.
00:03:52.280 Five, the last one I wanna share with you guys
00:03:54.260 is really to choose a date.
00:03:56.320 Pick a date.
00:03:57.240 You know, just like every Startup Accelerator,
00:03:58.960 it's a 90-day program.
00:04:00.120 In 90 days, I want you to pick a date.
00:04:02.460 And that's either to launch with full force
00:04:04.760 or to raise your round of funding.
00:04:06.640 If that's truly the path you wanna take,
00:04:08.600 then pick a date today, set it, put it on your mirror,
00:04:12.240 share it with your team, share it with your family,
00:04:14.400 let everybody know this is my vision, this is my goal,
00:04:16.940 this is what I want to do with my life,
00:04:18.840 and that is how you create your own version of Startup Seller.
00:04:22.080 Real quick, I'm going to recap.
00:04:23.480 So number one, you want to make sure that you read all the books.
00:04:26.320 There's books, core blog posts, et cetera.
00:04:28.840 Organize founders' lunches.
00:04:30.100 That's number two.
00:04:30.940 Bring like-minded entrepreneurs together.
00:04:33.280 Three is make sure that you create your pitch deck, you know,
00:04:36.360 and think about the slides and the information that you want on there
00:04:39.460 that just helps you align and get clear on your strategy.
00:04:43.020 Four, you wanna watch the videos.
00:04:45.400 This video, many other videos out there,
00:04:47.300 just search startups, events, startup school.
00:04:50.320 There's so many great, so much great content out there
00:04:53.140 for you to consume and just add it to your calendar.
00:04:55.880 If you schedule it, you will get it done.
00:04:58.400 And five, make sure you pick a date in the future
00:05:01.360 where you're gonna either launch
00:05:02.660 or start raising your round of funding.
00:05:04.820 Again, just like an accelerator.
00:05:06.320 That's what I wanna share with you guys
00:05:07.380 because I truly don't believe that getting in
00:05:10.300 or not getting into an accelerator
00:05:11.520 is going to dictate your success.
00:05:13.100 No matter where you live in the world,
00:05:14.740 you decide your fate.
00:05:17.340 I hope those ideas worked for you.
00:05:19.380 I want to ask you, please, to like the video,
00:05:21.620 share it with somebody else
00:05:22.480 that you think needs to hear this message,
00:05:24.040 and leave me a comment.
00:05:25.060 Let me know, out of the five strategies I share,
00:05:26.680 which one are you committed to doing this week?
00:05:28.880 Start on it this week.
00:05:30.360 Leave me a comment below with your answer.
00:05:31.940 I want to challenge you to live a bigger life
00:05:33.180 and a bigger business,
00:05:34.440 and I'll see you next Monday.