Welcome to the National ACE Capital Readiness Accelerator Session 4
Teamwork Makes the Dream Work Tuesday, February 13, 2024
Welcome Back 1.
Fundamental Roles in Business
2.
Marketing in a digital world - Pick Your Platform
3.
Types of Funding: Equipment and Working Capital
Today’s Objectives
Session Four:
Teamwork Makes the Dream Work
1.
The role of job creation in business expansion
2.
Sustainable strategies for scaling operations
3.
Focusing on strengths and finding the right team members
4.
Case studies of successful business scaling
Office Hours Every Friday 11am PST/1pm CST/2pm EST ● ● ●
Work on Application Ask Questions Meet Subject Matter Experts and Coaches
Introducing Fa’avae Fa’avae -
Visionary Entrepreneur & Philanthropist ● Founder & Owner of F2 Manufacturing and Island Avenue ● Co-Owner of Beleaf Burgers and Bored & Hungry, the world's first NFT restaurant ● Clients include Fashionova, Darc Sport, Diamond Supply Co., and Disney ● Island Avenue featured in Macy’s, Tillys, Nordstroms with collabs like St Regis resorts ● F2 Films launched award-winning short film “Follow Me Home” ● The T.U.T Foundation founder, supporting Los Angeles communities ● Launched TUT Academy for entrepreneurship and tech education ● Former Division 1 Football Athlete ● UC Berkeley Graduate, B.A. in English
1. Sustainable Strategies Understanding the difference between the “growth” of your business and “scaling” your business. You could grow the business by adding new team members, resources, vendors, but no increase in revenue. Scaling the business is adding assets to the business, while simultaneously having an increase in revenue to sustain expansion. Foundational factors of business: Values, Road Map, Quality of product/service, Processes
2. Finding The Right Team ** Business Core Values ** Mastery of your business model ** Leadership: Need buy in ** Being able to see their strengths and encourage! ** Higher purpose, run through a wall!
3. Case Study: Scaling ** Recent growth with retailers ** Team expansion: internal and external ** Strategic partnerships ** Access to capital ** Verticals ** Financial projections
Keys for Success 1. Sustainable Strategies Knowing the difference between “growing” and “scaling” the business. Core Values, Road Map, Product/Service, Processes Jay Z lyric: “Are you a trend, or Ralph Lauren?”...
2. The Right Team -
Team shares company values Business Model = Right people = Right seats Leader: Paint the vision, Accountability Spot talent, acknowledge, encourage! The why? Higher purpose!
Introducing Bill Imada Bill Imada: Pioneer in Multicultural Marketing & Community Advocate ● Founder, Chairman & Chief Connectivity Officer of IW Group ● Notable Clients: Coca-Cola, Toyota, McDonald’s, Disney, Warner Bros., Verizon ● Specializes in Multicultural Communications, Marketing & Advertising, Strategic Public Relations ● Serves on Boards: PBS, LAGRANT Foundation, Coalition of Asian Pacifics in Entertainment ● Co-founded Asian/Pacific Islander American Chamber of Commerce ● Advisory Roles: Supports various Asian-American and Pacific Islander organizations ● Recognized by President Obama’s Advisory Commission on Asian Americans and Pacific Islanders ● Mentor & Investor in Start-ups focusing on real estate, crowdfunding, and music ● Education: Bachelor’s in Business Administration, Leadership training from Coro Foundation, Honorary doctorate from Anaheim University
Teamwork Makes The Dream Work
Small Business Accelerator February 13, 2024
Think ahead to assess your staffing needs If needed, retain the services of a HR specialist
This Formula Can Guide You
Prepare
S
T
A
R
Situation
Task
Action
Results
Understand the landscape based on your industry
Set Tasks
Take Action
Evaluate and Adjust
Local, County, State and Federal Policies. Staffing and Talent Environment.
• • • • • • • • •
Staffing Needs Requirements Job Descriptions Salary Range Benefits Insurance Worker’s Comp Staff Planning Consult Experts
• • • • • •
Assign HR Tasks Adopt HR and Payroll Tool Execute a Recruitment Plan Circulate Job Desciption Organize Interviews Check References
• • • •
Complete Hires Seek Feedback Set Goals Evaluate Process
Recruitment process
Role of the employee
Goal setting
Job training
Develop a plan for recruiting talent
Assess staffing needs and roles
Set goals for success for staff
Invest in training
Introduction to company culture
Dates for check-ins
Meeting with superiors
Provide an orientation for all staff
Calendar regular check-ins
Stay engaged
Documentation
Good record-ke eping
Recruiting Process
Recruitment Planning
Strategy Development
Set a recruitment, hiring and staffing plan.
Have a set of strategies for identifying, recruiting, and hiring.
Searching
Screening
Evaluation & Control
Determine the best places to seek great talent.
Learn how to screen in an ethical and lawful manner and train others.
Be clear on how you elevate the success of your team. Clarify reporting structure.
16
Thank You! bill.Imada@iwgroupinc.com
Meet Your Business Coaches Chettha Saetia Director Illinois Small Business Development Center Chinese Mutual Aid Chicago
Different SBDC Centers around Illinois Illinois APEX Accelerator at
Springfield
IL
Bradley University
Peoria
IL
College of DuPage
Glen Ellyn
IL
Far South Community Development Corporation
Chicago
IL
Greater Southwest Development Corporation
Chicago
IL
Illinois Hispanic Chamber
Chicago
IL
Joseph Business School
Forest Park
IL
Southern Illinois University - Carbondale
Carbondale
IL
Western Illinois University
Columbia
IL
Women’s Business Development Center
Chicago
IL
Illinois SBDC ITC at Bradley University
Peoria
IL
Champaign County EDC
Champaign
IL
College of DuPage
Glen Ellyn
IL
Joseph Business School
Forest Park
IL
SIU-Edwardsville
Edwardsville
IL
Women's Business Development Center
Chicago
IL
Illinois SBDC at
City
State
36Squared
Chicago
IL
Arab American Business and Professional Association Palos Heights
IL
Binational Institute
Chicago
IL
Bradley University
Peoria
IL
Build Bronzeville
Chicago
IL
Central Illinois
Springfield
IL
Champaign County EDC
Champaign
IL
Chicagoland Chamber
Chicago
IL
Chinese Mutual Aid Association
Chicago
IL
Danville Area Community College
Danville
IL
College of DuPage
Glen Ellyn
IL
College of Lake County
Grayslake
IL
Elgin Community College
Elgin
IL
EIU-Elevate
Mattoon
IL
Greater Englewood CDC
Chicago
IL
Greater Southwest Development Corp.(GSDC)
Chicago
IL
Harper College
Schaumburg
IL
Illinois Eastern Community Colleges
Noble
IL
Illinois Hispanic Chamber of Commerce (IHCC)
Chicago
IL
Illinois Wesleyan University
Bloomington
IL
Joseph Business School
Forest Park
IL
McHenry County College
McHenry
IL
Oakton Community College
Des Plaines
IL
Polsky Exchange
Chicago
IL
Puerto Rican Cultural Center Humboldt Park
Chicago
IL
Rock Valley College
Rockford
IL
Rogers Park Business Alliance
Chicago
IL
Sauk Valley Community College
Dixon
IL
Shawnee Community College
Ullin
IL
Southeastern Illinois College
Harrisburg
IL
SIU-Carbondale
Carbondale
IL
SIU-Edwardsville
Edwardsville
IL
SIU-E East St. Louis Satellite
East St. Louis
IL
Starved Rock Country Alliance
Ottawa
IL
WIU-Macomb
Macomb
IL
WIU-Quad Cities
Moline
IL
Waubonsee Community College
Aurora
IL
Women's Business Development Center
Chicago
IL
South Suburbs
Richton Park
IL
Little Village Chamber of Commerce
Chicago
IL
YWCA Metro Chicago
Chicago
IL
Central Illinois - Springfield Project/Cap 1908
Cook County Small Business Referral Partners The Cook County Small Business Source’s Business Support Organizations (BSOs) provide small business owners with the expert advice and assistance they need to succeed through free one-on-one expert business advising.
What’s Next Session #5 Future Planning with Capital Access ➢
Role of Partners in business growth
➢
Case studies on successful growth through capital acquisition
➢
Overview of different capital sources
➢
Refining business models to attract investors and lenders
Meet your Business Coaches
Sign Up for Coaching
Scott Rogalski
Chettha Saetia
Allen Wu
Specialties: Find your lender match by telling your story, projections and forecasting models, maximizing financials for growth and qualifying for a loan
Specialties: Sales Strategy, Product or Service Marketing, and Business Plan Development
Specialties: Working Capital, Equipment Loan, Business Acquisition, Commercial real estate, acquisition, renovation or value added
Location: Sacramento, CA
Location: Chicago, IL
Location: Washington, D.C.
Closing Remarks:
2. Office Hours Friday
1. Get Connected to your Business Coach
11am PST/1pm CST/2pm EST
3. Take a minute to submit the closing quiz