"If you ask for money, you'll get advice. If you ask for advice, you'll get money." - Phil, Beem Class of 2013
You'll get a lot of information over the course of the programme
But Phil from Beem wants you to remember advice is information provided by people in situations that worked for them - it may not work for you. One of your jobs as a founder is to strategically decide what is beneficial to integrate into your business, and what you need to throw to the side or save in your pocket for later. Our ring leader and veteran coach Rose explains the value of having a dedicated coach to your startup: "Ask us anything, especially if you are unsure of some advice you've received. Even if you think it is a silly question, we are here to help you break through the roadblocks and decide what is the practical advice that will take you further quicker and more efficiently."
Stay one Step Ahead
Especially when going to meetings. Collider can provide you with the connections, but it's up to you to bring your best foot forward. Emily suggests you go in with an agenda - what 3 things can I take from this meeting? In particular, when meeting with brands, start with the pain points this brand might be facing. As a startup, the feedback you'll get from asking a brand manager 'What are some of the struggles and challenges you face everyday?' will be much more valuable than feedback on your product straight away. Once you understand their problems, you'll be able to tailor your explanations to fit their needs.
Think about Fundraising
But focus on revenue. You have the opportunity to extend your runway through contracts with the brands we connect you with - make sure you take advantage of it! Keep building up your support network and it's possible to bootstrap your way through the slower periods. When Beem pivoted while in theCollider Class of 2013 programme, Phil mentioned that he began to focus on generating revenue as opposed to looking for funding rounds. Leading into their third year, Beem is looking for their next contract to continue growing.