How most startup accelerators lead founders to failure
The Six Percent Entrepreneur
How most startup accelerators lead founders to failure
June 5, 2021
In this episode, we talk about one of the main issues that can be seen on startup accelerators.
The first time I got a puppy, I read a lot of books and watched a lot of Youtube videos on how to raise a puppy. And the first two books that I read. There were a lot of advice on how to make sure that your puppy is behaving. And some of the recommendations that they used. We're actually a little harsh and I wasn't really sure if I should implement these things or what. To give you an example, one of the books that I read said that you should put a shock collar, a choke collar on your dog so they know how to walk properly on a leash essentially if they try to run away really fast then the shock collar or the choke collar will hurt them and if they're way too slow, the choke collar will also hurt them. But this is like a way to train your dog through punishment, which didn't really sit right with me. 

And the third book that I read, said don't listen to all the other books, don't punish your dogs. You have to treat your dogs with positive reinforcement and that's how you get them to behave. And right now my puppy, she's like so well behaved. She's never been punished. She's only been yelled at maybe like twice. And then, and there were times when we did yell at her. It's because it was for her safety. But otherwise, I mean, she loves to listen. She loves to do things right. And if I had followed the advice from those first two books, I don't think that I would have the puppy that I have right now. The well-behaved, amazing, awesome puppy. If you guys are interested, you go to Instagram @rarimylove or R A R I M Y L O V E. You can see my puppies Instagram and she's got like 85k followers on Tiktok. Just the shameless plugin there. 

The point of this podcast is sometimes when we are getting information from sources that seem legitimate, it actually might hurt what we're trying to accomplish, what we're trying to get done. And this is what I see with a lot of startup accelerators, a lot of startup accelerators, they are focused on the wrong things. They are focused on funding. That's the entire social proof model. We've been able to get funding for this startup at this many dollars, et cetera. But what they never tell is how many of these startups are actually successful and the reason they don't do that is because they know that the majority of the startups will fail even with funding. 

And on top of that, even with funding, when you have an investor involved in your business, what's to say that that investor knows more about your business than you do? If that investor actually did know more about your business, then that investor could go out there and create that business instead of investing in someone else to do it. So whenever I look at the start-up accelerators, I looked at the metrics that they're touting and I wonder what the flaws are like. What are they not touting? So the metrics that I would look at wouldn't be MRI it wouldn't be how much money that I raise. It wouldn't be evaluation because these are all vanity metrics, right? They don't really mean anything. The only metric that really matters is profitability. Are you profitable? Are you able to create a business that actually makes money that you can put in your pocket the very next day and it's not just bleeding costs and putting you into debt or bankruptcy? 

So I think this is one of the main issues that I see with startup accelerators out right now is they're just focused on the wrong things and they're really setting up their founders for failure. So if you are trying to select a started this letter that works for you, what I would advise is make sure that that startup accelerator aligns with your values because if they are just focused on the valuation and focus on all these other things that might not matter to you, what might matter to you might be freedom. It might be autonomy, being able to make your own decisions. This is what you need to be thinking about chasing after evaluations and investor funds. Those, that doesn't mean anything. We want profitability. We want freedom. We want happiness. This is Robin Copernicus. Boom.Bam. I'm out.

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