“Being part of a well reputed accelerator like Sting has been a great opportunity,
It has given us the chance to be coached by brilliant and experienced entrepreneurs, who wants to see us succeed, who shared our challenges and has given us thoughtful and well grounded advice. It has also been a great door-opener, providing us with useful networks”, John Foodla, co-founder of Foodla, Sting Accelerate Spring 2018.
At Sting, you will get personal business coaches who have backgrounds as entrepreneurs. The coaches have all built successful companies, raised venture capital, and sold companies. In addition, several of the coaches are themselves active investors.
The coaches work closely with you and your team every week, and are always involved in where you are in important activities such as sales, marketing, product development, finance, recruitment, etc.
In addition to the dedicated business coaches at Sting, you also get access to other experts and advisers who help you and your team in several niche areas such as CTO coaching, pitch training, sales training, digital marketing, UX /design and some of the focussing on specific industry vertical e.g. e-commerce and e-health.
We believe in “fail fast, fail forward”. Dare to try things that do not work perfectly: Create a prototype (MVP), measure usage and compare to quickly move towards the operation and business models that work. Speed is the key. Our methods are best characterized as “lean” and iterative. The main methods and tools are “Lean Startup” and “Lean Canvas”.
Our coaching is always based on “pull” rather than “push”, i.e. it’s the coach’s task to help you find and decide what is the right way forward/focus/priorities etc, rather than telling you what s/he thinks you should do. You’re always in the driver’s seat!
- Business Development: Do we have the right business model or should we try a new customer focus, value proposition, pricing, methods for increasing retention, etc.?
- Sales and marketing: How do we set up our go-to-market strategy? How do we get better at selling? How can we shorten the sales cycle? How do we increase the conversion rate? How do we test a Facebook or Instagram campaign?
- Key metrics: What are the most important goals and metrics for the company? Why? How do we sync long-term goals with short-term?
- Financing: How will we finance the company’s development? How do we find investors? What is our company worth if we are to receive funding? How much should we try to raise, and when?
- Team and individual development: What additions to the team are most important? How should we find them? How do we need to develop ourselves to increase the company’s speed?
- Sales training: At Sting’s popular sales training you learn how all parts of the buying and selling process work and get to practice hands on. You gain insights into your own personal qualities to become better at customer and sales psychology. Sting’s sales training gives you the skills needed to become a successful seller:
– Book, plan, implement and follow up sales visits
– Successfully argue for your product/service
– Notice purchase signals, respond to objections and close deals
- Product development: How do we choose which features are most important to add development time to? How do we test this? Can we use existing libraries and open source, or do we need to develop from scratch?
- Process: How do we create an efficient process forward in everything we do to keep the highest possible pace?
- Order and structure: Do we have a stock register, shareholder agreement, balance sheet, bookkeeping etc?