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Emerging Leaders: A Strategic Plan for Accelerating Your Company’s Growth

The Business View – April 2017 / News You Can Use

 

You’re a successful business owner, so you must be doing something right. But perhaps you’re stuck and don’t know how to spark growth again. Or you’re facing some challenges impeding your company’s progress and need help.

 

The U.S. Small Business Administration’s (SBA) Emerging Leaders program, coming to Mobile in April, can help. This intensive executive-level entrepreneurial training initiative provides a fresh, thorough analysis of all components of your company by experts in financial and resource management, banking, sales and marketing, customer and market research and others – and it’s free.

 

“Business owners often know where they want to take their business, but struggle with how to get there. They need the tools and expert guidance to spur acceleration and sustainable growth,” said program manager Brent McMahan, senior area manager with the U.S. Small Business Administration (SBA). “They leave the program with a vision, a mission and a plan to get there.”

 

Janice Malone, president of Business Resource Design and Print and a 2015 graduate of the Birmingham program, said that while her business was well-established, it was still not where it needed to be. “The program helped me create a growth plan that helped me rotate my business from just a print shop to a marketing and design business that just happens to print. It was a game-changer for me. It’s been a painful and intense process, but I have a plan and if I can fully implement it, then the business has a chance to thrive and survive into the future,” she added.

 

How It Works

From April to October business owners will participate in approximately 40 hours of bi-weekly classroom instruction. from April to October. Participants will develop a three-year strategic growth action plan with benchmarks and performance targets that will help accelerate growth.

 

Experts bring a “real world” perspective as guest speakers. Additionally, class participants meet and work in smaller CEO peer mentoring groups and prepare “homework.” The total time investment is approximately 100 hours.

 

“One of the keys to the success of this curriculum is that it causes the business owner to shift their focus from product and operations to the business itself and growth strategies,” said Thomas Todt, Alabama district director, U.S. Small Business Administration. “Acquiring a trusted group of peers, advisors and networks that can provide access to regional and national markets are also key to the program’s success.”

 

Who Can Apply?

Criteria to participate:

  • in operation at least three years;
  • at least one employee besides the owner(s);
  • average annual revenue for past three years of $400,000 to $10 million (exceptions may be allowed).

 

The program is limited to 20 businesses. The only cost is the time and commitment to successfully complete the curriculum over the course of seven months.

 

For more information, contact McMahan at brent.mcmahan@sba.gov or 251-544-7401 or Danette Richards, drichards@mobilechamber.com or 251-431-8652.

 

Click here to read The Business View – April 2017