By Rieva Lesonsky
The year is almost over (can you believe Thanksgiving is around the corner?). Why not make an early New Year’s resolution to make 2019 the year you take your business to the next level?
For the past few months, SmallBizDaily has been featuring tips and advice on everything from business plan writing to getting a business loan from the folks behind the SoCal Goldman Sachs 10,000 Small Businesses program. This intensive educational program gives growth-oriented entrepreneurs nationwide the tools they need to create jobs and economic opportunity. Here are some stunning stats from the 7,000-plus small business owners who’ve completed the 10,000 Small Businesses program so far:
- 6 months after completion, 67.2% reported revenue growth and 47.1% of business owners added new jobs.
- 30 months out, 77.8% had increased revenues and 56.5% added new jobs.
The 10,000 Small Businesses Program is challenging—participants must commit approximately 100 hours to in-person sessions and at least that many hours working on their growth plans outside of class—but it clearly pays off.
How 10,000 Small Businesses Works
The program has three components: education, business support services and access to capital.
- Education: Participants follow a national curriculum designed and delivered in partnership with Babson College, the nation’s leading entrepreneurship education institute. Partnering with other small business owners for peer learning, they learn skills they can put to use immediately. The 100-hour curriculum covers a wide range of subjects, including growth opportunities, financials, marketing and human resources.
- Business support services: Participants get expert advice, one-on-one business advising, and technical assistance from business professionals in and out of the classroom.
During the program, entrepreneurs remain in the same classroom groups (called “cohorts”) and learn from each other. After graduation, participants can join a 10,000 Small Businesses alumni network; over 87% of alumni do so and keep working with the contacts they’ve made.
10,000 Small Businesses program is designed for established businesses that are seeking guidance and resources to grow. To be considered, applicants must:
- Demonstrate a commitment to growing their business and creating jobs in their community
- Be owner or co-owner of a business
- Have been in operation for at least two years
- Have revenues of over $150,000 in the most recent fiscal year
- Have at least four employees (including the owner)
Apply for 10,000 Small Businesses Now
If you live in the Southern California area, good news: 10,000 Small Businesses is currently accepting applications for three upcoming cohorts in 2019 to be held at Long Beach City College and Los Angeles City College.
- The deadline to apply for the Los Angeles City College cohort is November 15, 2018, and the program begins on March 15, 2019.
- The deadline to apply for the Long Beach City College cohort is December 19, 2018, and the program begins on April 5, 2019.
- Apply here or call 562-938-5054.
Don’t miss this opportunity to get expert help growing your business to the next level!
Want expert help starting or growing your business, but don’t have the time to commit to 10,000 Small Businesses? Whatever stage your business is in (or even if it’s just an idea), The Los Angeles Regional Small Business Development Center (LA SBDC) can help. Get confidential advice from business experts at no cost or attend affordable workshops on all aspects of entrepreneurship. Visit the LA SBDC website (www.smallbizla.org/locations ) to find an advising center near you, or call 866-588-SBDC.