Turn Business Failure on its head – It’s About Damn Time!
The Cannabis and Hemp industries are very exciting and destined for extraordinary growth. Truly massive diversity in its application. Yet, like the dot-com – and any other high-growth industries – we are experiencing the roller-coaster of the Hype Cycle. Add to this the Cyclical, Secular, Socioeconomic, and Institutional cycles, (not to mention our new friend, COVID-19) and we have a challenging environment for any business to thrive.
Disheartening? It doesn’t have to be. There are more dangers ahead and always will be, but with the right leadership and support, together we can build an incredibly strong industry.
Using the dot-com era as a comparable, many of the well-known brands came from accelerators like TechStars and YCombinator who started in a similar trough of the Tech Hype Cycle such as Reddit, Stripe, Dropbox, and Airbnb. We are in a place to lay a solid foundation for some revolutionary developments.
This is precisely what we at Fuse42 are here to do.
We are bringing stability, clarity, and maturity to emerging entrepreneurs. Injecting business fundamentals, best-in-class mentoring, world-class venture development, seasoned pitching skills, powerful team-development, and much more.
Entrepreneurs acting alone are known to be affected by a failure rate between 70-90%. As discouraging as that is, support from an Accelerator can invert that success.
Why is there such disparity between these models? At first, it doesn’t make sense. In both scenarios you might have an amazing idea, a cool prototype that has been loved by everyone you show, a huge amount of expertise in the field, or grand levels of excitement in what you’re building. Unfortunately, these don’t necessarily translate to success.
There are loads of different cliché sayings that bear truth here, but let’s focus on this one: “I’m not standing at the pinnacle of success, but rather, my success was built on a mountain of failures”. This touches on the spirit of entrepreneurship, but also why accelerators are so valuable. It is absolutely not necessary to build your own “mountain of failure”. Rather than add another cliché, learning from other’s mistakes is exactly what happens in an accelerator. The entrepreneur has the opportunity to tap into the community of those gone before her.
So, what are the steps for success? You can read loads of articles from successful entrepreneurs across the internet who say the same:
- Get a damn mentor
- Join a support community
- Start sharing your ideas and be open to feedback
- Don’t be afraid to try things that might not work – do it quickly and cheaply
- Learn to communicate your ideas, problems, and solutions
- Join an accelerator and get everything above, plus targeted training, people who have a specific interest in your success, and the potential funding needed to move forward.
How we can help
At Fuse42, our mission is to help you build an investable, tractionable business. Whether you require investment or not, we help ensure you have a business in which you can create success, and then work with you to get there.
We support entrepreneurs at all stages of their development and provide guidance through the journey. We have also created a system where our interests are aligned and you must succeed for us to succeed.
If you are an entrepreneur without a team, there are opportunities to run with ideas that have been given to us by others in and out of the industry with dreams. There is also the opportunity to join a team who needs help.
One major differentiator with Fuse42 is we offer an equity pool that each team in the cohort contribute into and share in. We’re creating a system of collaboration. This is a new industry and we will be stronger together. It starts here
Every team is different. Each needs a different mix of our core services:
- Venture Development – Build a business that will serve as a strong foundation for years to come as you scale.
- Product Development – We help you get all that is needed to ensure your product is ready for the market. Whether it is introductions to prototypers or designers, or help thinking it through how to make it ideal
- Market Validation – The goal for every business is to ensure you are building something people want. We have several tools and experts to help you with this.
- World-class Team Development – The most important element of a scalable company is the team. We help you know when to hire, who to hire, how to hire and ensure there is strong accountability, productivity and engagement
- Investor Readiness – The ability to pitch clearly and well takes a lot of work. Understanding the investors perspective, their key asks, and building an investable, tractionable business are how you will win them over.
We cannot invest into every company, but we recognize the value of the success programs we offer and want our programming to be accessible to all ambitious entrepreneurs. For this reason, we have a track for our core teams and a track for guest teams.
Once we have all the documents, we will conduct an interview with your team and ours.
We would be excited to have you as part of one of our upcoming cohorts where we can celebrate your immediate and future successes.
The Fuse42 Team