No one ever said that being an entrepreneur was easy. Starting a business is a major undertaking that most people will never experience in their lifetime. Making matters worse is the fact that most businesses won’t even make it past the 5 year mark. According to Shikhar Ghosh, a senior lecturer at the Harvard Business School – 3 out 4 startups will fail.
What’s the biggest reason for this astonishing high rate of failure? Business planning and customer discovery. The early stages of establishing a business ultimately boil down to if you are creating a product or service that is valuable and needed in the marketplace.
As an aspiring entrepreneur, where can you turn to ensure better results? A brand new initiative was created to solve that problem. Brave Launch is the Bradley University Turner Center for Entrepreneurship business accelerator program which aims to help businesses focus on those very elements that have been plaguing startups for years.
The 7-week intensive schedule is intended to solidify a business plan of attack to find customers in order to validate the product or service can survive and thrive in the marketplace. The program is modeled off of the National Science Foundation’s I-Corps accelerator program and Steve Blank’s Lean LaunchPad.
The unique offering is designed for anyone with an idea that they would like to develop into a business opportunity. The program does not focus on any specific industry, so ideas across all types of businesses are welcome to apply to be in the first cohort.
Due to the full immersion, it does require a team approach. Teams will consist of a maximum of 4 members and it’s recommend that a team have 3 – 4 members. There isn’t a cost to apply to Brave Launch, however, participation is limited to only 10 teams for a more intimate learning environment.
No business education experience would be complete without a robust group of mentors and advisors to guide would-be and current entrepreneurs through the processes of starting up and business expansion. With dedicated professional help and educational building blocks, your business will stand a better chance to survive the chaotic startup process. To find out more information about the Brave Launch business accelerator and to apply, visit bradley.edu/bravelaunch today!
This article was created in collaboration with Bradley University Turner Center for Entrepreneurship.
Cover image via steveblank.com