|
Many people are guilty of similar thinking yet are fascinated with
watching shows like Shark Tank, the Profit and the like.
Thankfully, JumpStart gives practical advice for planning
your business, starting it, marketing it, and running it
post-launch too! And right here in Ohio.
“Back in the early 2000’s the business and philanthropic community in
Cleveland, Ohio came together with the idea of creating a
new kind of non-profit focused specifically on early-staged
tech-companies. The community's reasoning for doing that was
from 1990-2002 Northeast Ohio, according to Entrepreneur
Magazine, was one of the least entrepreneurial communities
in the United States. The community wanted to figure out a
new approach that could stimulate innovation and small
business growth,” says Ray Leach, CEO., in the company's
introductory video.
“JumpStart is the first
venture development organization of its kind, combining the
principles of private venture capital and non-profit
economic development to help entrepreneurs start and grow
their business,” shared Nick Worner, senior manager
of Communication.
JumpStart was founded in 2004. The original focus was to coach
entrepreneurs by finding 15-20 of the most promising
first-time local entrepreneurs while investing an average of
$450k into each business.
Their work is now focused on three core areas:
First, making investments by funding tech
entrepreneurs and select program graduates with capital to
grow their startup businesses quickly.
Next, JumpStart provides technical assistance helping
high-potential businesses solve problems, drive growth and
create jobs within communities.
Finally, they invigorate businesses by acting as
intermediary, working on behalf of private, public and
philanthropic funders eager to assist entrepreneurs.
Things really got exciting in 2008 when a series of
funders came to JumpStart and encouraged a broader ecosystem
approach. Their new focus would be inclusion on assisting
business owners in urban or rural communities. Through state
funding and help from dozens of economic development
organizations, both early stage entrepreneurs and those
needing to scale their already successful ventures, were
included.
In 2011 JumpStart expanded into working with a range of
national foundations and the U.S. government. These
collaborations aid them in helping leaders learn new,
innovative ways of thinking while creating a diverse support
chain for companies within their local region.
A new set of initiatives was introduced in 2014. A focus
on inner-city, non-tech entrepreneurs, as well as small
businesses located in poor and disconnected rural
communities, was added to JumpStart’s objective.
“Since our inception, we’ve engaged more than 5,470
companies; 51percent were led by women; 44 percent were led
by people of color,” explains Worner to The Truth.
JumpStart truly unlocks the full potential of diverse
entrepreneurs to economically transform their own
communities. Whether you are looking for investment capital,
technical assistance or both, they're ready to help you.
You can stay abreast to what this organization is doing in
your community by following their social media accounts and
supporting their events.
The information
they provide is very similar to information one can learn in
those very expensive four-day business workshops, for FREE!
“After attending the Northwest Ohio Impact Entrepreneur Showcase, I
cannot help but feel empowered! The practical, logical
advice presented by the judges alone was invaluable advice
for anyone who wants to start their own business,” stated an
Impact Program showcase attendee.
If you are an aspiring small business owner, attending JumpStarts’s
Entrepreneur Showcase might be the muse you are looking for
to inspire you.
“Tonight, the entrepreneurs will showcase their progress and their
intended impact on NW Ohio,” stated Ocie Irons, JumpStart
Senior Partner, and master of ceremonies at Toledo’s First
Cohort of the IMPACT Program last week.
“Five high potential businesses here in the Greater Toledo area were
selected to participate in this program. The competition
tonight is the culmination of this portion of these owners’
journey. This 12 week intensive program has helped them
understand not only the businesses they are developing and
creating but also about themselves and how they interact to
make their vision come true,” said Ocie to attendees.
JumpStart’s Impact Program focuses on business advising, industry
specific mentoring and collaborative learning. This 12-week
intensive program is designed for entrepreneurs to establish
a strong network of support from peers, advisors and
instructors.
The first sessions focus on understanding the market and the value their
business brings to the marketplace. Then they look at their
competition and the things their customer base will expect
for total satisfaction. By week four investor pitches
begin. In week five cohorts learn marketing strategies on
presenting their product or service to the public, that lead
to long term success. In weeks six-12 cohorts learn how to
measure progress over the course of time with things like
key performance indicators, financial projections and
structuring their work in the SMART way while preparing for
The Pitch Competition.
1st Place Prize: $10,000 and the other 4 Graduates Win: $2500!
No one walks away empty handed and aside from the financial impact, you
will walk away with lifelong nuggets of information or
experience to successfully promote your business.
This organization’s ability to interconnect diverse
entrepreneurs, investors and business experts is impressive.
They are
leveraging innovation and inclusion to fill gaps in smart
and effective ways.
JumpStart also empowers business owners who are not getting monetary
investments with fundamental ideas and strategies that can
be used immediately, proving to be extremely valuable to
over 5,470 businesses and
counting.
“If you know someone that can use some business advising, tell them to
apply to
nwo@jumpstartinc.org.
Our business advising includes direct consulting. Let us
know what you are trying to accomplish, and what your goals
are, and we will help walk you through the steps of
accomplishing those goals,” states Kenny Farrar, JumpStart’s
Deal Flow Associate.
“We are all interconnected in this world. Ecosystems exist in life and
business; a six degrees of separation to some degree. Six
degrees of separation is the idea that all people are six,
or fewer, social connections away from each other. As a
result a network chain can be made to connect any two people
in a maximum of six steps.”
Now that you know all about JumpStart they need your help!
To
economically transform entire communities they need the
community to spread the word. Let’s put the six degrees of
separation to the test. Their
mission
of unlocking the full potential of diverse and ambitious
entrepreneurs, is in part, up to you. You help to create
Impact. SHARE this information! Share your ideas. Share
your businesses. Share with your community.
Here’s to our next success story because you did!
Congratulations to NW Ohio Impact Program Graduates - Cohort I:
Nilanna Thompson: “Nailed By Nilanna”
Moni Featchurs: “Premier Screenings”
Wes Grudzien: “Marketplace Ninjas”
Blair Johnson: “BMJ Enterprises”
Zobaida Falah: “Cure” (GRAND PRIZE WINNER) |
