Last week we rattled off the advantages of biz incubators and explained what places like Excelerate look for in applicants. While these programs are great, they of course cannot accept all the start-ups hoping to get in -- and actually rejection can be a positive in disguise.
Nick Cronin, founder and CEO of the Chicago-based ExpertBids.com, recently blogged about his start-up not being selected and offered some advice to others in the same boat. Really, though, it doubles as sound advice to anyone thinking of pursuing an incubator in the future.
"Seek out your own mentors and ask them for opinions and advice," wrote Cronin. "Though you will not have full access to the list of mentors Excelerate has compiled, there are some great people out there willing to help out... Be resourceful and get in touch."
Cronin also recommended seeking out relevant books and podcasts -- which makes sense. If you're running your own business, you're never done learning anyway.
Also heartening among Cronin's list is an explanation that "being rejected from Excelerate does not put you out of business." Which, again, makes sense. You'll never succeed unless you're able to endure and push through some failures. That's part of life and business.
Read the full post on Cronin's blog.