Wednesday, 8 March 2017

Check Out These 5 Things First Before Hiring a Business Incubator

Business incubators are helping startups to grow since a long time and there is no doubt with the help of the right business incubators, the startups are reaching a great new level of success. But before you hire a business incubator to help you’re your startup grow, there are a few things you need to take care of –

  1. Your Research matters a lot – Before you hire any business incubators you must do a bit of research about them. Not all incubators are same. There are incubators for tech support, and then there are incubators for some other fields. For you as a startup company, it is important for you to understand the cost of the service, services offered. However, do not ever forget to look for the mentor, location and curriculum especially.
  2. Talk with People who Have Experience with Incubators – When you reach out to a particular incubator, they probably will list out the numbers of previous startup companies they have worked for. Take your time and try to discuss with them about the services they have offered. Take their feedbacks and ask them to rate their experience. This will really help you to make up your mind about the incubator service.
  3. Assemble a Strong Team – You might have a great business idea but if your team isn’t strong enough, the business incubator is likely to say NO to you. Honestly, they look for strong founders and strong team rather than the business idea. Most of the startups go through a refined process and turn out to be amazing business groups while they are under the surveillance of a business incubator. Although there might be transition involved, it is important for you to put right people on the right place in order to execute the right business strategy.
  4. The right Pitch – While you approach a business incubator, it is always important for you to prepare the right pitch to deliver. The fact with incubators are they want to work with companies which have a good chance of being successful in the future; not only because they hold n equity stake, but also because this one success is going to help in the near future. Incubators are only looking for people who are very much serious about their business; they need doers and people or founders who has the right kind of ability to execute the plans.

Hiring business incubators are a great thing you do for your business. “The Tribe Space” is a incubator for tech startups in Vancouver city, that supports startup and fledgling companies by providing a variety of resources and services meant to accelerate its development.

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