10 tips for succeeding in a startup incubator program

A considerable amount of business ideas are getting lost because of lack of experience of the creator, lack of knowledge, network or other things, and so they could not take the idea to the next level. This is where an incubator program comes in, a startup incubator program has the purpose of helping entrepreneurs to grow their businesses.

You might think that when you’re in one of those programs everything will work out. However, the contrary seems to be true. Even though a lot of help is given by these programs, still a large amount of the entrepreneurs do not manage to make it through.

Vivaio however isn’t considered as a regular incubator program. We help people launching their businesses in the hospitality and travel branch.
What should startup companies do in order to be successful in a diverse startup incubator program, such as VivaioLab? Let’s put it together within 10 relevant tips.

1~ Be open minded and willing to change, do not fall in love with your idea

It is completely logic that you have a certain perspective of the way things should go and should be taken care of. However, a company such as Vivaio has a lot of knowledge which can help you. If you are really sticky with your initial idea, you will miss out on this information. You have to be willing to receive mentorship and willing to change and adapt your vision and ideas. Be prepared for feedback and make sure you know how to handle it. Do net get insulted by tips and tricks but make sure you know how to take them into account.

2~ You should do your research
This is a major factor for success. You have to make sure your cautious ideas, which might be able to form a start-up, has common ground to the behaviour and structure of the company your collaborating with. Of course, the perspectives could be different but on the long-term the two visions have to correspond.

3~ Make sure you pass on clarity in your mission/visions
If you are not able to explain your idea in a proper way, your story will not be persuading. Your pitch definitely has to fit your vision and you have to fully believe it yourself first. Come up with good arguments, reasons why you think something is the way you see it and try this out on your environment.

4~ Be prepared to dedicate all your time in this, especially in the beginning
Be present on all the meetings, events, sessions which might be slightly important. Make sure you and your team are on the same team and have equal perspectives. In this way you show off devotion.

5~ Make sure the total package of the entire brand is clear
The company want to enter its start-up phase, so this means you have to make sure that it is not just the company’s idea which ‘may or may not seem nice’. It is about your whole personality and the entire environment surrounding you and your idea. In fact, this is actually more important, especially in this first start-up phase. Character is the essential part of the persuading phase.

6~ Have a clear goal in mind
The collaboration can give you all the opportunities you might need for your company’s successful kick-off. You should be aware of this. If not, you take the risk of missing out on opportunities, which would be a sin. It is key to completely use the entire network and resources your obtaining.

7~ Be aware of the financial situation regarding your own company and the wishes of the incubator
Where there are two parties involved, it has to be a win-win situation, right? Considering both parties, it should be profitable regarding their input and outcome.
Every entrepreneur is seeking for an escape in their start-up company, after setting it up and make it successful. On the other-hand a company as Vivaio would want to have an equity share.

Be aware of this, and know what your options are. Consider; how much are you willing to offer in exchange of what you are receiving?

8~ Have a proper attitude towards working, be proactive
As mentioned before, the way of approaching things is the most important aspect in the collaboration with an incubator. At the beginning it is not at all about your ideas but completely about your attitude. You and your team have to be willing to put a lot of effort into the project and show this in all possible ways. Because after all, where there is a will there’s a way.

9~ Do not focus too much on 1 specific positioning
At the beginning there is little certainty about a lot of objectives. One of them is the final way you will be positioning at the market. Plentifull focus on 1 specific positioning may led to the wrong strategy and position of your brand. Do not miss out on options by maintaining a tunnel-vision.

10~ Be eager to learn and create your own network out of the incubator program
The purpose of the collaboration is to gain knowledge and to get your advantage out of the help. And so, do not hesitate to get your own network out of it. Make contact with the people who you think you could obtain profit from.

There they are, 10 tips put together to improve the success of your participation in a programme considered as a startup incubator. Moral of the story would be considered as: be proactive, do not fool around and work with determined passion. For collaboration with Vivaio, you could join us on www.vivaiolab.com