Read This Before You Join Another Accelerator Program

May 4

TLDR: Signing up for another accelerator program might actually be halting your growth and wasting your precious time.

One mistake we see many small business owners make is joining too many cohorts, accelerator programs, or coaching groups.

If building a business is like constructing a building, it has to happen one brick at a time. Which is why joining another accelerator program can sometimes set you back and divert your attention away from what you should be focused on.

Don’t get us wrong, we know free resources are fundamental to making entrepreneurship more accessible and equitable. But sometimes spending so much time learning how to run your business leaves you with no time to actually run it.

Here are some things you should consider before you join another accelerator program:

1 — Relevance of Content

If your business is bleeding and you can’t tell which way is up, it can be difficult to identify the exact problem to focus on, which is why accelerators with such a broad content offering might feel like exactly what you need. But be warned! You could spend ten to fifteen weeks learning about social media marketing and how to pitch your business without ever addressing the root of the problem, like your pricing structure or your product positioning.

2— Cohort vs. One-on-One

Don’t get us wrong: Community is the best way small business owners can support each other. However: if you’re already making sales and moving with momentum, joining a cohort for brand-new business owners might waste your time. The concepts discussed in most cohorts are one-size-fits-all. Which brings us to our next point . . .

3 — Time Commitment

Small business owners tend to be highly motivated, and in doing so, they overload their schedules with meetings, courses or programs in an attempt to scale their business faster.

But if you’re filling your schedule with lengthy programs that focus on theory and not execution, do you actually have the time for implementation? Or is all the time spent in the program going to waste because you’re busy learning and not doing?

overwhelmed small business owner sitting in front of laptop with hands covering her face

4 — Distractions and False Progress

Accelerator programs can be exciting and offer a sense of progress, but it's important to evaluate whether that progress is actually meaningful for your business. At the end of the day, your most obvious success indicator is revenue growth, so anything distracting you from that is going to slow you down.

5 — Fit with Your Goals

Finally, consider whether an accelerator program aligns with your long-term business goals. Joining programs on a whim, however, is a quick way to burn out. They may seem enticing, but if their timelines aren’t aligned with yours or they won’t actually get you to your goal, it’s not a good use of your time.

5 ways the Impact Lab won’t waste your time

If you’ve been overwhelmed with managing the finances of your business and don’t know where to start, we offer personalized, **one-on-one finance support**.

With the Impact Lab, you’ll gain expert advice, a community to rally around you, and resources to help you invest in your future. Here’s why our program will be well worth your time (we would say it’s well worth your money too, but it’s absolutely free).

We only talk about finance, which is usually at the root of all business issues. You’ll be paired with a finance expert who can give you practical resources to better manage your expenses and increase your revenue in a non-intimidating, non-judgy way.
The Impact Lab is one-on-one focused, but we’ll also plug you into a community of other small biz owners in a similar growth phase, because both are important.
Our experts will meet with you for 50 minutes at a time (no day-long classes that make you feel more overwhelmed than equipped). We’ll discuss the nuts and bolts, not fluff.
We’ll only focus on what is relevant to your current challenges instead of overwhelming you with irrelevant content.
Your goals drive our discussion, and we’ll be your copilot along the way. Once we work with you to create measurable goals, we’ll track your progress.