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Introducing....

an exciting new program in Greater Roseland!

SBAC Empower and GRCC Entrepreneurial Incubator Program

Roseland CC
EmpowerNoSlogan

In collaboration with SBAC Empower, the Greater Roseland Chamber of Commerce (GRCC) is beginning an exciting new Entrepreneurial Incubator Program - a small business incubator - this September!

Applications for acceptance into the program are live through July 2024. Upon submission, each application is reviewed for possible placement in the program in one of the core stages. All applicants will be contacted by the GRCC regarding acceptance by August 30th, 2024. This session of the Entrepreneurial Incubator Program will commence at the start of September 2024.

Counseling will mark the initial stage of the program. In this stage, the GRCC will outline the program and its intended purpose in the form of a Mix & Mingle hosted bt the GRCC. All prospects wishing to be involved in the EC should be present to potentially share their business model and ideas to the Executive Director at GRCC. The Executive Director along with counsel from SBAC Empower will determine which businesses are eligible to move on to the next stage and advance into the EC.

Coaching will be a critical step to pairing admitted applicants into the third stage of the program - mentoring process. GRCC will plan a day for all participants to gather and be prepared to answer curated questions on the participants' business. This is solely to determine the level of commitment,
ownership, and accountability around each business model. It is important that each participant can articulate what their business is, why it is needed and to visualize the future of success.

This stage will entail all participants participate in the Let’s Talk Business workshop series listed
in Appendix A and complete the intake form providing information on their business and plans for success. Multiple workshops or learning sessions will be hosted which will cover the baseline of business growth and development. Attendance of these workshops will be mandatory to remain within the program and continue on to the third and final phase of the program. At this point, the businesses are presumed to have a product already developed and able to be distributed. If not, once the business plan is made, the participant will be allowed to open up a stall or some form of sales booth in the Shop Roseland event, providing they attended each workshop session.

Where coaching casts a broad net across several topics, mentoring is specific and directly associated with the participant's business. It is one on one coaching with a commitment level of one year. This will be one-on-one unless a single business is owned by several people. Strategies and ideas
will be tailored to the small business owners and to their product/service and where they are in their business cycle. The small business owners are encouraged to be open and honest about their business, where they struggle, what is needed to get them to the next level and about their conception of success. This is where pen, paper, and visions come to life. This is the time to build a relationship with a mentor who specifically assists the participant. It is a time to take advantage of a mentor's experience, expertise, and advice as the participant and mentor together develop an obtainable program for their business.

STAGE 1: COUNSELING

Entrepreneurial Circle Introduction

- Are you ready to be an entrepreneur?
- How to prepare for entrepreneurship
- How to know if entrepreneurship is right for you

Personal Financial Management

- What to ask your banker before opening a business

Credit/Finance

R U credit-worthy?

How to Start a Business

Classifications of businesses

STAGE 2: COACHING

Planning for Business Success

Business Plan Prep

Small Business Financial Management for Decision Making

• Is owning a Business a Good Fit?
• Practices, rules and tools for small business
financing

Financial Planning,
Credit & Financing
-PNC
-Byline

The Market – Competition and Customer

Marketing Strategy and Marketing Plan

Management and Operations

The People Factor

STAGE 3: MENTORING

Empower Pairing

Tailored Workshops

PERSONAL BUSINESS VALUES

BUSINESS GOALS

ALIGNING PERSONAL BUSINESS VALUES WITH ONE’S LIFE

ONE’S VALUES ARE GUIDEPOSTS

BUILDING AND STRENGTHENING ONE’S VALUES

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