If you would like an exclusive opportunity to observe the performance of the startups during our £1,000 Startup Race and get involved with those that impress you, please register your interest by clicking on the button below.
Winning The £1,000 Startup Race is simpler than you might think!
How The £1,000 Startup Race works
1 – Register Your Interest via our Typeform
Click on this link https://thestartuprace.typeform.com/to/N04vvY and answer a few qualifying questions:
- Are you under £100 revenue?
- Are you a Fast Growth Startup?
2 – Come along to our free event in December
And learn how the £1,000 Startup Race will work, how you can win it and get any questions answered. Everyone who wants to take part will complete a Non-Disclosure/Application Form.
3 – Discover the ONE thing that really matters
We will help you to identify your Prime Metric based on your business model. This is the single most important metric that will determine whether you are heading in the right direction or not and save you from wasting time, money and energy.
4 – Create a Minimum Revenue Product
If you have not already done so, you need to create a Minimum Revenue Product to validate whether anyone wants what you have to offer. People paying you MONEY is 100 X more valuable than people saying “Yes I like what you are doing.”
5 – Start Selling It!
Entrepreneurship is about making money and you need to develop your sales skills. The revenue you generate is one of the main ways Angel Investors will value your company.
6 – Learn What Works and What Doesn’t
If you haven’t noticed, the process described above is the Lean Startup methodology of Build, Measure Learn. The most successful startups are led by Entrepreneurs who can complete these cycles most quickly. In trying to sell your Minimum Revenue Product (MRP) you will have learned three things:
- Whether you can convert a Solution into an ‘Offer’ i.e. create a mechanism which enables people to pay you money.
- Whether you can get that mechanism in front of lots of people
- Whether people will pay you money or not for what you have to offer
7 – Be Motivated by Your Pacemakers
This is only for the truly ambitious entrepreneur as this is a competitive process and we will use your Prime Metric to benchmark you against your other Startup Racers to identify the Entrepreneurs that can really deliver.
Imagine you were #1 last week and you have just been knocked down to #5, what will you and your team do over the next seven days to get back to leading the pack once more?