As I write this, we have less than 8 days until the end of our Techstars startup accelerator program. We’re alongside 10 other remarkable companies, all working 16-20 hour days, building our businesses, and preparing for the culmination of Techstars, Demo Day. Below is a previously unpublished post I wanted to share. It was written at the midway point of the program. If you’re an aspiring or first-time entrepreneur, it’s worth a read.
Rami Essaid, CEO Distil Inc.
Day 45 – “An Entrepreneur’s Execution”
There are a million great ideas in the world but very few people who can successfully build them. The one thing that separates the successful from the failures has always been the execution. In fact, great execution can make even a bad idea succeed. This is why one of the biggest factors that investors look for in a startup is the management team. For serial entrepreneurs that is not an issue. They learn from both past success and mistakes and each time around get better. But what is a first-time entrepreneur to do? No matter how great your startup idea there are inherit risks, out of your control, that could end any early stage company.
That is why we wanted to join Techstars. Distil had already secured funding but wanted the best mentors to help us succeed. What we didn’t realize is that Techstars is so much more than smart people telling you what to do.
Let's be clear, a month into the Techstars program and we have already received amazing advice on how to better execute our business. The mentors range from enterprise executives to successful startup founders and the gamut in between. With their advice we have been able to refine our pricing in a way that makes more sense to our customers and improve the robustness of our platform to better prepare for scale.
What we didn’t expect to gain was a surge of energy and culture, a network that puts anyone in the world within two degrees of separation, a community built around success, and 20 lbs from the catered lunches and dinners. These, in my opinion, are the most powerful parts of the Techstars accelerator program. From day one, the rush of excitement shared by the 10 companies is so electric that it instills in you an immediate culture of hard work and productivity. Day two the name-dropping begins and you start realizing how large and far reaching the Techstars network truly is. It puts the entire Internet at your fingertips. We are now at day 45 and the experience gets more amazing each day.
Techstars is the ultimate startup community, a network that for years will provide guidance when you are struggling, and share in your happiness when you succeed.
About the AuthorFollow on Twitter More Content by Rami Essaid