This was supposed to be the final section of my previous post, where I spoke about my experience going through Antler’s startup incubator/accelerator program. However, the post became longer than expected; I had a lot to get off my chest! And I figured there are some people who just want to get the takeaways for considering whether to join the program.
So, I’ve written down 3 scenarios in which it’s worth joining the program program. Here it goes!
You genuinely want to run a VC-funded startup
Sounds obvious? Well, I didn’t realise what it truly meant when I joined the program; I know others who didn’t, either.
VC-funded startups are very different than “normal” businesses. Some key aspects:
- outcomes are more binary; it’s either high growth or shut down, no in-between
- you’ll struggle financially for a long time; it takes years for founders to get a decent income
- you’re constantly working on the next funding round
- you listen to investor appetite more than to business fundamentals
A classic on ignoring business fundamentals, from the Silicon Valley show
You’ve no idea how to launch a startup
Antler gives you a good base knowledge for launching a VC-funded startup. The organizers run seminars on what sort of businesses are funding-worthy, the steps you need to take in order to achieve success, and how to go about looking for cofounders. You’ll get an advisor who will give honest feedback on your ideas. And, just by being around 60 other people striving for the same goal, you’ll see what works and what doesn’t.
The story is different if you have those basics. There’s always a faster way of achieving something that you can get from inside the program:
- finding cofounders - go network, whether it’s through hackathons or meetups
- fundraising - direct outreach to the right people is the name of the game
- coming up with startup ideas - this will always have to come from you
- getting feedback on your ideas - your target customers and domain experts will know best
Dwight from The Office illustrating what happens when you don’t get the right feedback
You’re stuck
Maybe you’re wary of the downsides of a VC-funded enterprise, yet you’ve failed bootstrapping. Or maybe you’ve already gone through a startup incubator/accelerator, then tried to do something outside of it and got nowhere. And you don’t know what to do next. There’s no shame in giving it another go with Antler’s program.
It sounds like this contradicts the previous 2 reasons, right? Well, not quite. What I’m trying to say is that you may think you’ve learned all there is, but if reality keeps showing you a brick wall, then it’s a sign that you should revisit your previous assumptions.
Life hitting you like a wall
Final words
Hopefully I was able to help you get closer to making the right decision for yourself. One final point - I am one of the many who have gone through it; talk to others! They might have totally different experiences than mine.