Education Programs for Business Owners

I was a guest on the Gritfully podcast with Denene Rodney when she asked the following questions that made me take a deeper dive into small business programs.  She asked me:

“I know you’ve participated in programs which focus heavily on mindset and scaling businesses. How did those experiences shape your approach to business growth?”

These programs were a business lifeline when I needed them.  I took each course because I wanted something specific at that time, or I wanted to learn a methodology of how to apply what I learned to my business. The classes that I took when I was trying to grow my business to $1million were very different than when I was going from $5million to $10million.

The first program I took in 1993 was Workshop In Business Opportunities (WIBO).  This 50-year-old workshop provides start-up participants with the knowledge and tools needed to explore business opportunities, develop business ideas, understand their target market, and create a financial plan. After graduating from that program, I had all the information needed to start a business. Today, I currently sit on their advisory board and volunteer my time as a business advisor.

The second program that changed me as a business owner was the Make Mine a $Million Business program.  I participated in the second cohort in 2006. The goal was to get women businessowners over $1million in revenue. It was created by Nell Merlino who founded Take Our Daughters To Work Day.  That program gave me coaches including the mighty Simon Sinek, and speakers targeted to a specific piece of my business, like marketing. Within a year, my business crossed the $1Million threshold.

Here’s a list of some top programs designed to support small businesses and entrepreneurs, covering a range of topics from obtaining an EIN to marketing, scaling, or exiting a business. Most programs are free or low cost, usually sponsored by a large corporation or grant.

1. Goldman Sachs 10,000 Small Businesses: This program offers practical business education, support services, and access to capital for small business owners.
2. SCORE Mentoring and Workshops: SCORE provides free mentoring and workshops on various business topics, including marketing, finance, and business planning.
3. SBA Emerging Leaders Initiative: A free executive-level training program for small business owners, focusing on growth strategies and financial literacy.
4. Kauffman FastTrac: Offers courses and resources for aspiring and established entrepreneurs to help them start and grow their businesses.
5. Babson College’s Entrepreneurial Leadership Program: Provides a comprehensive curriculum on entrepreneurship, including scaling and exiting strategies.
6. Techstars Startup Programs: Offers accelerator programs and resources for startups, focusing on mentorship and networking.
7. Y Combinator Startup School: An online program that provides guidance on starting a business, including lectures and resources from successful entrepreneurs.
8. Founders Institute: A pre-seed accelerator program that helps entrepreneurs launch their startups through mentorship and structured curriculum.
9. Small Business Development Centers (SBDCs): Provide free consulting and low-cost training services to small businesses on various topics, including marketing and financial management.
10. Entrepreneurship Bootcamp for Veterans (EBV): A program specifically for veterans, offering training in entrepreneurship and small business management.

These programs offer a mix of online and in-person learning opportunities, mentorship, and networking to help entrepreneurs at different stages of their business journey.

These programs teach the business owner elements that are crucial for scaling a small business:

1. Strategic Planning:

• Vision and Direction: Strategic planning helps business owners set a clear vision and direction for their company. This ensures that all efforts are aligned towards common goals, making it easier to scale effectively.
• Resource Allocation: It allows for efficient allocation of resources, ensuring that time, money, and human capital are invested in areas that will yield the highest returns and support growth.
• Risk Management: Through strategic planning, potential risks can be identified and mitigated early on, reducing the likelihood of setbacks that could hinder scaling efforts.

2. Financial Acumen:

• Budgeting and Forecasting: Strong financial skills enable business owners to create accurate budgets and forecasts, which are essential for planning growth and ensuring that the business can sustain its expansion.
• Investment Decisions: Financial acumen allows for informed decision-making regarding investments in new projects, technology, or personnel, ensuring that these investments contribute positively to scaling.
• Cash Flow Management: Effective management of cash flow is critical for scaling, as it ensures that the business has the liquidity needed to support increased operations and unexpected expenses.

3. Leadership Development:

• Team Building: Developing leadership skills helps business owners build and nurture a strong team, which is essential for taking on the increased workload and responsibilities that come with scaling.
• Change Management: As businesses grow, they undergo significant changes. Strong leadership is crucial for managing these changes smoothly and maintaining morale and productivity.
• Vision Communication: Effective leaders can clearly communicate the company’s vision and goals, inspiring and motivating employees to work towards scaling objectives with enthusiasm and commitment.

Each of these elements plays a vital role in ensuring that a small business can grow sustainably and successfully. If you are a business owner and need cost-effective program options, select one of the above programs that has been proven to help others.  Or, do your research and survey women who have participated in these programs. Just do it!