It is common for business owners to think that the first solution to growth is increased revenues, but the smart business owner understands that a good strategic vision along with a solid infrastructure need to be in place in order to be ready for growth. The South Metro Denver Small Business Development Center's Success Tracks certification program is a 6-month program designed to help small businesses create this model for strategic planning and implementation.
Many small businesses grow by the "seat-of-the-pants survival mode" as the owner works 24/7 to ensure the success of the business. At a certain stage, the owner realizes that specific foundational structures are necessary, but they are too busy wearing all the hats of the business to put these foundations in place. "The owner is caught in a Catch 22 of running the daily affairs of the business and not having the time to implement the critical processes to escape this never-ending cycle of workload, inefficient systems, and other barriers to growth," says SBDC Business Consultant, Caroline Hanna.
The Success Tracks Program will take you through the process of creating your strategic vision and understanding how to implement it. Beginning with an assessment of your current business and comparing it to where you want your business to be, you will create a one-page strategic plan. The challenge for small businesses is implementation, and through a combination of tools and accountability through one-on-one consulting, the business owner can meet this challenge. The consulting sessions are designed to give you a framework to help you stay on track to implement your vision. Through this program you will gain a better understanding of your business and leave with a knowledge of the tools to help you put your vision in place.
Six companies will be selected for the program. "We are looking for motivated business owners who are open to suggestion in growing their businesses. This intense program requires a commitment of 2 sessions of coaching per month as well as 5-10 homework hours per month outside of consultation," says Marcia McGilley, Director of the South Metro Denver SBDC. "This is a great opportunity for businesses at this particular growth stage who understand that they need a stronger foundation but lack the resources to move forward."
Business owners who complete the program will receive a certificate at the Small Business Leadership Awards in May.
The ideal candidate meets these criteria:
- Minimum of 2 years in business
- Minimum of one employee outside a spouse or family member
- Minimum gross annual revenues of $200,000
- Owner is seeking tools to strategize and create a solid foundation for growth
- Owner is willing to commit 8-10 hours/month to the program September through March
Business owners interested in applying for this program can fill out the application and submit it to the South Metro Denver SBDC. From the total applicant pool, businesses will be selected for an interview, and six businesses will then be selected for the program. Final candidates will complete an assessment form and begin the first consulting sessions in September.
The cost of this program is $149, or $99 for South Metro Denver Chamber of Commerce Investors. The program fee will be collected after your interview and acceptance into the program.
Please contact the SBDC at firstname.lastname@example.org or 303-795-0142 if you have any questions.