Business accelerators are programs aiming to help businesses develop, modernize, and speed up business operations by increasing productivity as well as growth opportunities. Although different programs have different approaches, there are at least six benefits that do not change despite the focus of the program. 


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1. Personalized attention from experts:

The Bridge Accelerator, Photo by HUBmedia

Experts and leaders with extensive experience in their respective fields present on various topics serving invaluable information on a silver tray. They’re also there to give advice, answer questions, make suggestions, share their experiences, and help business leaders improve their business methods. Simply put, these programs provide mentors who help pave the direction in which the participating companies will go. 


2. Evaluation and weaknesses identification:

The aforementioned experts provide the required tools and provide support so that company leaders are able to evaluate their businesses, identify weaknesses, and consequently work on them. At times, an external perspective is needed to identify the areas that require attention and many businesses even pay for it. In an accelerator the experts work together with the leaders so that once the weak spots are identified they’ll be able to strengthen them. 

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3. Innovation

When innovation is mentioned people in general immediately think of technology however, innovation can be in working methods, business practices, administrative processes, even in the vision and mission of companies. A good accelerator focuses on finding the areas of a business that are in need of improvement and tailor effective ways to achieve it. Whether in human resources, manufacturing processes, sales methods, or even by helping businesses start their digital transformation; a business accelerator will always help businesses innovate. 


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4. Access to clients and investors

The Bridge Accelerator, Photo by HUBmedia

One of the most important benefits a business accelerator can bring is the connections and contacts that are made during the program. All participants are like-minded people looking for their company’s improvement and growth. This fosters a very good environment to get customers, meet your competition, get better suppliers, and even find new business partners for the creation of new businesses. Some accelerating programs also have contact with global corporations since these are in the constant lookout for qualified suppliers or service providers that match their needs. These global corporations know businesses acceleration programs are a great source of suppliers capable of meeting their international quality standards. Networking in business settings is essential for the growth of any company. 
 

5. In-depth analysis of customer needs 

Knowing the needs and specific requirements of customers is not always easy, some businesses even pay a lot to obtain this kind of information. In an accelerator, customers directly speak to the participants about their specific needs and explain to them exactly what they’re looking for. This is the perfect opportunity for participating companies to develop their proposals during the course of the program. On the demo day, which typically marks the end of the program, they’ll be able to present their finished proposals in front of these same clients potentially opening the doors to doing business and closing sales. 

The Bridge Accelerator, Photo by HUBmedia

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6. Sales improvement:

An acceleration program generally helps the business improve sales simply with the networking opportunities it provides, however, they also help participants work and improve their Pitch. Working on a sales pitch cultivates self-confidence and security when presenting in front of important potential investors or clients, it’ll also make leaders more prepared and even give them the ability to do impromptu elevator pitches. The program also helps to improve or modernize the marketing strategy and may even go as far as innovating payment systems or manufacturing processes to achieve purchase orders for higher quantities. 

All these benefits mentioned above can be applied to any company regardless of their business field. The programs are mostly intensive, focused on achieving the improvement of businesses in a short period of time but achieving permanent results. To take full advantage of the program, it is recommended that those attending the sessions be the directors, owners, partners, or senior executives of the company, business leaders who have authority and are able to achieve true everlasting change. 


Now that you know the benefits of entering a business accelerator, what are you waiting to accelerate? 


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