2019 IMPACT
UNLOCKING THE POTENTIAL OF PEOPLE AND PLACE THROUGH ENTREPRENEURSHIP
POSSIBLE starts with
PURPOSE CO.STARTERS BEGAN AS AN IDEA TO SOLVE A PROBLEM ON A MAIN STREET, IN A MID-SIZED CITY. We didn’t know—when we came together as a small band of misfits, makers, artisans, and artists—that our local efforts would spark a movement. We didn’t know that movement would spread to more than 200 communities. We didn’t know the transformative community we were building together would reach the hands and hearts of more than 12,000 starters. We were focused on the challenge in front of us—finding real solutions for the people and places that we knew— and our inkling that there had to be a better way. While trying and learning and growing, we caught a glimmer of something bigger. We saw the potential to
2008
2013
2015
2016
Early efforts begin with starters in Chattanooga, Tennessee.
CO.STARTERS brand and core program are launched.
CO.STARTERS expands internationally to New Zealand.
CO.STARTERS becomes an independent forprofit company.
costarters.co/story
change the future—to build, not only better businesses and better economies, but healthier lives in the process. To reach a different possible. We believe it is possible to build businesses of passion and profit without sacrificing your soul. We believe it is possible to grow local economies from the ground up, with grassroots leadership, personal investment, and community support. We believe we can redefine what success looks like—personally and professionally. We believe business can be an act of service and the foundation for thriving communities. Reflecting on the past year, we are awed to see, over and over in different CO.STARTERS communities, this pattern of change emerging. To see what began as an inkling echoing in different expressions across our network of member communities. To see true transformation happening in people as well as places and perceptions. From the beginning, we believed it was possible to create a better future, a better way. The following pages highlight just a few of the many ways we are finding that possible. –Enoch and the CO.STARTERS Team
200+ 12,000+ communities served
starters supported
COMMUNITIES NEED STARTERS. WHAT IS A STARTER? We use the term “starter� to cross boundaries from the self-employed, to small businesses, to startups. We believe that entrepreneurship should be accessible to everyone. Anyone who has the passion to turn an idea into a product or service is an entrepreneur!
Top challenges faced by community leaders in supporting entrepreneurs:
funding
1
capacity
proven tools
SBA, www.sba.gov/sites/default/files/advocacy/Frequently-
Asked-Questions-Small-Business-2018.pdf, (August 2018)
2
community change
defining success
American Express Shop Small Campaign, about.
americanexpress.com/press-release/another-reason-to-shopsmall-on-small-business-saturday (November 13, 2018)
POSSIBILITY PURPOSE
We believe that healthy starters and healthy businesses are the foundation of a thriving community. Success looks different for every community. We work with local leaders to identify the best strategies, provide proven tools, and equip them to build pipelines of support for entrepreneurs. Our process focuses on unearthing the potential that already exists and supporting local grassroots investment to make change happen.
We help community leaders tap into the value of starters:
NOW OPEN
66%
67¢
of all new jobs are created by small businesses.1
For every $1 spent at a small business in the U.S., approximately 67 cents stays in the local community.2
93% of members viewed CO.STARTERS as important to their strategy for fulfilling their mission
costarters.co/stages
STARTERS NEED COMMUNITY. Top reasons starters fail:3
3
42%
no market need
29%
ran out of cash
23%
not the right team
19%
get outcompeted
18%
pricing/cost issues
17%
poor product offering
17%
lack a business model
14%
poor marketing
14%
ignore customers
11%
lose focus
CBInsights, www.cbinsights.com/research/startup-failure-reasons-top/, (November 6, 2019)
PURPOSE
Studies show that half of all new ventures fail within the first five years, and entrepreneurs are among those at the highest risk of burnout. CO.STARTERS prepares starters for long-term success by connecting them with knowledge, confidence, and relationships. We focus not only on the “what” and “how” of starting a business, but also on the “why” and “whether.” Our programs emphasize starting small, talking to customers from the beginning, and building a community of support as you grow.
The CO.STARTERS approach increases the likelihood of starter success:
29% of participants change their venture in some way in response to customer feedback and program learnings
87%
of participants have goals or written plans for their venture
89%
of participants know what to do next with their venture
80%
of participants develop valuable relationships and connections through the program
IN 2019
starters supported
2400+
210
440+
leaders trained
builders equipped
Thriving
PEOPLE We see individuals turning their passions into fruitful endeavors.
IN 2019
2400+
Starting her own business and being a part of the program not only gave Javela control over her income but helped her personal growth.
starters supported
45% earn less than $50k
21%
69% 39% 34% people of color
INCREASED KNOWLEDGE
93%
increase in starters who had written goals or plans for their venture
age 45+
INCREASED CONFIDENCE
INCREASED CONNECTEDNESS
87%
57% increase in
increase in starters feeling confident about how to make a venture work
starters feeling connected and supported by their local community
“You find value in what you already know, what you can share with everyone, and what others can share with you.� JAVELA SINGLETON
Photo: Village Launch
female
earn less than $20k
PEOPLE
JAVELA SINGLETON //GREENEVILLE, SOUTH CAROLINA Founder, Gifted Hands Artisan Soap Supported by Village Launch
STARTERS who are confident, connected, and know their next step.
Lisa’s first-hand experience as a creative business founder and her insight as a local leader helped prepare her for the nurturing role of a CO.STARTERS Facilitator.
costarters.co/canvas
WHAT MAKES A GOOD FACILITATOR? Rather than recruiting teachers or business experts as program facilitators, we look for experienced entrepreneurs who can empathize with and guide starters through their journey.
IN 2019
210 90% of trainees would recommend CO.STARTERS
141 facilitators certified
“For me it’s really helpful to be able to tell the people in the CO.STARTERS program that I am doing all of the work alongside them. I started small and am still figuring this stuff out.” LISA GARNER
Photo: Lisa Garner
community leaders trained
PEOPLE LISA GARNER // JACKSON, TENNESSEE Owner/Designer/Maker at Garner Blue CO.STARTERS Graduate & CO.STARTERS Facilitator Executive Director at theCO.
LEADERS who are equipped and empowered to better serve their communities.
costarters.co/community-roles COMMUNITY ROLES IN ECOSYSTEM BUILDING
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What’s your ecosystem building superpower?
Sammy (pictured with his wife Loretta) has a passion for inspiring youth through entrepreneurship. He has used the CO.STARTERS Generator program to reach hundreds of teens across multiple communities.
WHAT IS AN ECOSYSTEM BUILDER? An “ecosystem builder” is anyone who works to build, grow, and nurture an entrepreneurial community and culture. Builders have a variety of skillsets and fill many roles.
IN 2019
186 82% of members think of community when they think of CO.STARTERS
255 explorers introduced to ecosystem building through workshops
“I knew that if we could just reach the youth in the community, then we could reach the parents too. That’s how you transform a place.” SAMMY ORTIZ
Photo: Sammy Ortiz
builders supported through membership
PEOPLE
SAMMY ORTIZ // DADE CITY, FLORIDA Founder, Young Entrepreneurial Students (Y.E.S.) CO.STARTERS Trainer & CO.STARTERS Facilitator Storyteller & Gate Opener
BUILDERS who are united in using their unique voice to bring together a shared vision.
IN 2019
communities served
132
93% of members viewed CO.STARTERS as important to their strategy for fulfilling their mission.
11 countries reached
PLACES
Thriving
PLACES We see communities creating better versions of themselves.
IN 2019
65 CO.STARTERS program graduates
40 Get Started workshop participants MEMBER SINCE 2014
Create Birmingham is the must-
Since adding CO.STARTERS
know organization for creatives
to their program offerings,
and entrepreneurs in the greater
Create Birmingham has been
Birmingham area. They saw a
imagining new ways to serve
serious need to redefine support
the starters they support. They
for creatives in their community
started a microlending service
and took the task upon
and provide 60 percent of
themselves. If you can imagine it,
their graduates with financial
Create Birmingham can help get
assistance. They also subsidize
you there.
a coworking space and manage a retail space for makers and
“CO.STARTERS is an invaluable cornerstone of our work with aspiring and early stage entrepreneurs. We couldn't do what we do without the curriculum and the collaboration with the CO.STARTERS team.� Create Birmingham CEO Buddy Palmer with graduate Dre Foster and Director of Programs Jessica Moody.
Photos: Create Birmingham
artists to sell their creations.
PLACES PLACE
IMAGINATIVE Create Birmingham Birmingham, Alabama pop. 211,000
240 concepts have gone through CO.STARTERS 68% of graduates are female
IN 2019
15 CO.STARTERS program graduates Up to $160,000 in total sales MEMBER SINCE 2018
Renaissance is coming to
for the community-supported
a growing Appalachian
Show of Hands crowd-funding
community, thanks in large part
event, as well as bringing
to Wheeling Heritage. They’ve
CO.STARTERS to Wheeling to
leveraged local, state and federal
provide entrepreneurs with a
incentives to help community
place to start.
buildings and jumpstart excitement about small-town business.
Because of their work, Wheeling has cut its building vacancy rate in half over the past four years. In 2019, Main Street
Wheeling Heritage, in
America awarded them the Great
collaboration with RED, has
American Main Street Award in
provided the momentum behind
recognition of their progress.
several local efforts, including public art, a Brew-off designed to showcase beer and brewing history in Wheeling, and holiday craft shows. They are responsible
Alex Weld (second from left) presents a Show of Hands award to a winning entrepreneur.
“Before, we were working on a caseby-case basis to help entrepreneurs, but we knew we could do more. Now we have CO.STARTERS!”
Photos: Wheeling Heritage
members rehabilitate historic
PLACES PLACE
RESILIENT Wheeling Heritage Wheeling, West Virginia pop. 30,000
50% reduced building vacancy rate 2019 Great American Main Street Award winner
IN 2019
31 CO.STARTERS program graduates 105th CO.STARTERS participant MEMBER SINCE 2017
Located in the heart of the
Commons on Champa are as
mile-high city, The Commons on
diverse as their entrepreneurs.
Champa offers a full pipeline of programs and services designed
This year they celebrated their
to serve the underserved
105th entrepreneur to join the
populations of Denver.
CO.STARTERS program. To The Commons have launched
Champa’s starters represent
81 businesses, created 160
underserved communities,
new jobs, and secured funding,
including women, people of
contracts and downtown
color, veterans, LBGTQ, and
business locations to grow their
economically disadvantaged
businesses.
communities. From mail slot insulators to an app that monitors breast health, the ventures supported by The
“CO.STARTERS gives credibility to our programs and allows us to complete our mission.” A CO.STARTERS cohort meets at the Commons on Champa.
Photos: Commons on Champa
date CO.STARTERS alumni from 70% of The Commons on
PLACES PLACE
VIBRANT Commons on Champa Denver, Colorado
81 new businesses launched
pop. 620,000
160 new jobs created
IN 2019, WE ...
Launched INTERSECTIONS, a Medium publication dedicated to connecting the voices and perspectives of people doing the work of entrepreneurial ecosystem building. Supported the AARP Foundation in strengthening their Work for Yourself @50+ workshop and program delivery model to ready it to scale. Collaborated with the Kauffman Foundation at the ESHIP Summit to release a prototype of a resource discovery platform, the Ecosystem Building Marketplace MVP. Partnered with InBIA, McClure Placemaking’s Alchemy Communities and the USDA, to bring CO.STARTERS to rural and under-recognized communities. Announced partnerships with BrightBridge, Proximity, Startup Space, and Venturize to provide funding and technology solutions for our members. Contributed to 22 events for ecosystem builders across the US through keynote speaking, workshop facilitation, hosting family dinners, and co-organizing. Played a catalyst role in establishing the RuralRISE network and refocused our commitment to supporting rural communities on the local level. Held our 5th CO.STARTERS Summit to celebrate five years of growth and announce our vision for 2020 and beyond. Refined our DISCO core values and enlisted trusted advisors to help our leadership team prepare for greater impact in the years ahead.
PRACTICE
Learning by
PRACTICE We see collaboration, with all its challenges, as essential to growth. As a company, this year we explored ways to grow our network to make our vision possible. Some of these experiments were more successful than others, but all provided valuable learnings. At the end of the day, our greatest realization is that all these activities point us back to our roots: helping local communities solve problems.
.
STARTERS
69%
34%
39%
female
age 45+
people of color
2400+ RESULTS
starters supported
earn less than $50k
21%
earn less than $20k
CO.STARTERS program participants experienced a 129% increase in confidence in what to do next with their ventures.
INCREASED KNOWLEDGE
93%
increase in starters who had written goals or plans for their venture BIZ STAGE
45%
INCREASED CONFIDENCE
INCREASED CONNECTEDNESS
87%
57% increase in
increase in starters feeling confident about how to make a venture work
39% COMING SOON
are at concept stage
129%
starters feeling connected and supported by their local community
79% NOW OPEN
are at concept or operating stage
WAYS STARTERS GIVE BACK
Other
48% 41% 40% 25% 18%
volunteer donate to community org
BIZ TYPE
Health &
Wellness Creative
Retail
Other
Food/
Restaurant/ Beverage
serve as a guest speaker mentor sponsor an event
THE CO.STARTERS GUARANTEE: “Know
61%
of starters plan to primarily serve their local community
your next step.”
2019 IMPACT SUMMARY
130+
440+
210
communities served
builders equipped
leaders trained
RESOURCES
COMMUNITY CONTEXT
NETWORK
Learn more at costarters.co
Rural Urban Int’l. Youth
11
Causes
countries reached
600+ curated resources
14 proven tools
16 partner collaborations
Spanish
22 events supported MEMBER TYPES
Creative Enterprises
Innovation Hubs, Incubators & Accelerators Coworking Spaces
Small Business Support Orgs Schools, Colleges & Universities
Downtown Development Orgs
© Copyright 2020 CO.STARTERS
Learn more at costarters.co ©2020 CO.STARTERS