Seattle – June 19, 2019 (Open)
Portland – To Be Announced
San Diego – To Be Announced
San Francisco – To Be Announced
Silicon Valley – To Be Announced
Los Angeles – To Be Announced
Phoenix – To Be Announced
The GroundWork Accelerator program supports Startup Haven founders at the crossroads of growth, i.e., a customer-ready product, in market, with the earliest signs of revenue… but not yet at product-market-fit.
What’s next for companies at this stage is traction, i.e., to scale — scaling users, scaling customers, scaling revenue, scaling team. But scaling is among the most difficult milestones for any startup to achieve. And at this stage of a startup’s life, the clock is ticking.
The failure rate of startups is extraordinarily high, even for those with lots going for them — great product, great market, great team, and even great investors. There are certainly no magic bullets, but the GroundWork program thesis is that the most-reliable path to scaling is:
- have a solid understanding of the milestone you want to reach next;
- have specific growth targets and a thesis for how to attain them;
- have an objective and quantitative understanding of the assumptions underlying your growth thesis;
- have a thoughtful and metrics-driven approach to validating your assumptions through research and experimentation;
- have the discipline and dedication to build a cogent growth plan;
- buckle up… this won’t be easy.
Done right, this approach to planning for growth can lay the groundwork for scale.
But the startup world moves fast. It is sometimes said that planning anything in advance for a startup is a fools errand because plans are obsolete the minute they are forged. This is true enough. So not just any growth plan will do. For GroundWork, the cogency of the plan is fundamental.
Throughout the GroundWork program, founders are challenged to understand, explain, defend and refine the cogency of their assumptions and the cogency of the growth plans they develop.
Significant uncertainty and risk are an inescapable fact of life for every venture-scale growth startup. This is especially true in the early stages, before product-market-fit is achieved, and no amount of cogency can guarantee success. The GroundWork program thesis is simply that cogency is the best tool we have. And that’s good news because striving for cogency is within the reach of every single startup company and every single startup founder.
Every startup founder also has blind spots and not every element of risk and uncertainty is plainly obvious — even when you’re looking for them! Startups in the GroundWork program get help understanding the assumptions they already know about as well as flushing out assumptions that are hidden from view.
- Founders set their growth outcome targets.
- Prepare to raise capital?
- Achieve a valuation milestone?
- Launch in a new market?
- Achieve/grow profitability?
- Something else…?
- Founders build their growth thesis.
- How much growth? How fast?
- From where? From who? And how?
- What’s next?
- Founders model their growth thesis assumptions.
- Identify and quantify underlying assumptions.
- Verify plausibility of quantified assumptions.
- Revise based learnings.
- Founders build a growth plan that meets a high standard of cogency.
- What channels? What tactics? What cost? What time?
- What skills? What gaps?
- Expected results?
- What if the worst case? What if the best case?
At the end of the program, founders will either have a cogent growth plan they can execute on or they will know where the risks in their plan are and how to mitigate them.
There are four steps to applying for the GroundWork Accelerator.
- Must be approved for Startup Haven membership.
- GroundWork is only for Startup Haven member founders.
- Startup Haven membership is free.
- Must be a full time founder.
- Must be building a venture-scale startup.
- Must have some elements of traction.
- Must have some initial customer revenue traction,
- Customers must be “arm’s-length”
- No minimum revenue requirement, just getting started is fine
- Signed customer sales LOIs may be sufficient
- Must have completed a Startup Haven Investor Match profile.
- This provides an opportunity for your company to be discoverable by all Startup Haven investors.
- Requires disclosure of basic company metrics and team info.
- Open disclosure is optional (i.e., your company information may remain private.)
- Complete the GroundWork Accelerator application process.
- Complete detailed company information application form.
- Share your growth thesis with us.
- Agree to the terms of the program.
A few other factors to consider:
- All founders must agree to participate actively in the program.
- The program must be completed within four (4) months.
- Preference for teams of two to three co-founders.
- No stealth startups will be admitted to the program.
With that said, the GroundWork program is designed to accelerate founders and companies that are at a crossroads of growth. Here’s how we think about startups that are a good fit for the GroundWork program.
- Vision — We look for founders with big ideas that solve meaningful problems of meaningful value to meaningful markets… and with a plan to get there.
- Passion — We look for founders with strong conviction and sincere passion for the problems they are solving.
- Discipline — We look for founders who know that there is no “Get-Critical-Mass Button” and who understand that getting from here to there requires thoughtful execution and a lot of hard work.
- Initial Product — We look for founders who have built a live product, available for use by arms-length customers.
- Initial Revenue — We look for founders who have delivered value to at least some initial arms-length customer(s) willing to pay money for their product.
- Growth Thesis — We look for founders who have a thoughtful thesis about their next growth milestones and how they can achieve them.
- Lean Experimentation — We look for founders who are eager to quantify their growth assumptions and leverage Lean methodologies to validate, invalidate and improve their growth strategy.
GroundWork Accelerator mentors are different — 100% are Startup Haven members, which means 100% are experienced startup founders, C-level execs and investors. In addition to being a Startup Haven member, each mentor is individually selected based on their specific technical and business expertise, their personal startup experience and their commitment to adhering to the Startup Haven Mentor Guidelines and Mentor Code of Conduct.
Among other things, this means that we do not utilize the help of service provider mentors. This is not a value judgment against service providers. Service providers are essential and startups need help from lots of folks, including lawyers, bankers, accountants, recruiters, designers, marketers and a myriad of others. For Startup Haven and the GroundWork program, we think it’s essential that the help and advice that GroundWork participants receive from mentors should be free from the potential for conflict of interest or pecuniary bias.
We also believe that for founders with a strong network of other experienced startup founders, execs and investors, finding the right service provider is merely a matter of asking for referrals. Startup Haven and the GroundWork program provide just that sort of network.
You learn more about the GroundWork Mentor Program here.
GroundWork mentors can be either local or remote. Because in-person collaboration can be so valuable, teams are encouraged build relationships with local mentors in their city whenever they can. However, because the GroundWork program is essentially virtual, any team can work with any mentor in any city. In working with remote mentors, teams are encouraged to utilize web collaboration tools such as Slack, Zoom, Google Docs, etc. GroundWork teams and mentors are also provided access to private channels on Founder to Founder, Startup Haven’s member-only ask/offer forum.
You learn more about the GroundWork Mentor Program here.
Once you have reviewed all of the information sections above and once you have determined that you meet the minimum qualifications for the GroundWork program…