What To Do While Exploring
It’s been a couple weeks since we notified our first batch of Accelerator participants about what stage they’ll start out in the Butler Venture Accelerator. Many, like you, may be exploring various ideas and not sure what to do next. Cindy Klein Marmer, advisor to the Explore stage of the Accelerator, hosted a “Welcome to Explore” session on Wednesday, October 1. Here are some takeaways to think about while working through feasibility:
- What need or problem are you solving?
- How does your target customer currently solve this problem?
- Is your solution a product or a service?
- Do you know what industry you are in?
- Who do you see as your potential customers? How will you reach them?
- Think about various market tests: what can you do to see if there is a market opportunity?
- What does your team look like? What skills are you missing? Make sure you have people with complementary skills!
- Practice, practice, practice. Make sure you can clearly articulate the idea (sign up for the Rocket Pitch by 5pm EST Tuesday if you want a chance to present to a large powerful audience!)
- Go out there, talk to people. You never know who might have a connection or who can help you.
- Plan action steps!
Remember that there are a lot of resources out there – find and utilize what is helpful for you. At Babson, make sure to engage with all the centers: the Blank Center’s Butler Venture Accelerator, The Lewis Institute and Food Sol, CWEL and the Cutler Center. The Glavin Office also has resources available for international student entrepreneurs!