L E S S O N S L E A R N E D . . . . ENTREPRENEURIAL ROAD MAP
AboutUs THENASCENTGROUP BUSINESS STRATEGY THROUGH SUSTAINABILITY what we stand for Diversity, Equity and Inclusion Environmental, Social and Corporate Governance Arts & Culture Forward Solutions Ecological Sustainability Human Sustainability RISING DAWNING ADVANCING EMERGING DEVELOPING TRANSFORMING ELEVATING BEGINNING BLOSSOMING PROMISING EMPOWERING ADVANCING ACCELERATING THRIVING ASCENDING FLOURISHING The Nascent Group is a full service business strategy, hospitality design and project management agency based in Chicago that strategically supports minority owned development projects and non-profits around the country. We support them through conceptual, business development, strategy, construction, PR & launch stages. At every stage, we ensure that local communities are supported through diverse development solutions, guaranteeing that, above all, people are always put first.
OurMission toinfluencebehaviorsatalllevelsofourindustrybysettinghighstandardsforhuman sustainability todemonstratethatinvestinginhumanitycanleadtoprofitability,sustainability,creativity andinnovation totransformvisionsandambitionsintoprofitablerealities,byhelpingcompaniesgrow
Chill RESEARCH, RESEARCH, RESEARCH Walk BUILDAGROUNDED FOUNDATIONTO REFERENCE Apply CITYOFCHICAGO GRANTPROGRAMS Run HOLD YOURSELF AND THOSE AROUND YOU ACCOUNTABLE CROSS YOUR T’S & DOT YOUR I’S USE YOUR CITY OF CHICAGO RESOURCES Sprint MARKETING, MARKETING, MARKETING Open BE PRESENT BE REACTIVE BE OPEN MINDED TO ALL FEEDBACK GOAL 365DAYS Road Map Overview
Community Feedback and Engagement Local Non Profits School & Youth Group Returning Citizens CARA DoSomething NiceForYour SignificantOther orFamily Elevator Pitch Watch Your Top 3 Orators Finances Get Your Credit Up Pay ALL of your bills (especially to the City of Chicago and Utility Companies) Women Owned & Minority Owned Accreditation SAM ID 05 06 07 08 Research National / Illinois Restaurant Association CMAP REPORTS Relationship Building Find your Local SBDC My Favorites on the Southside QCDC 51st Street Business Association Meet your Alderman Make your Comp Set your Cheerleader Ideation Design Give yourself 3 adjectives Use Behance or Arch Daily for Inspiration 01 02 03 04 Chill RESEARCH RESEARCH RESEARCH You will not see them again for 2 years Visit your Comp Set Determine What You Don't Want to Be
Non Traditional Somercor CCLF | ACTIVATE RETAIL & REBUILD LISC CLEVELAND AVE Traditional BMO HARRIS BANK CHASE BANK Annual Budget Business Plan 5 Year Valuation Determine Your Debt Capacity and Debt Service Ratio Ask Landlord for Tenant Allowances & Build Out Allowance When Possible Project Budget and Finances Soft Costs (architecture, legal, accounting, marketing, licensing & permitting) Construction Costs (from GC or cost estimator) 6 months - 1 Year operating expenses Identify Financing Gap & Need Walk 1 2 3 4 5 Create Your Financial Foundation BUILDAGROUNDEDFOUNDATIONTOREFERENCE Identify Key StakeHolders LLCFormation BusinessPartners Architect ProjectManager(orOwners Representative) Lawyer Accountant Mentor SocialMediaMarketing Look for Applicable Grants CHICAGO COMMUNITY TRUST HELLOALICE COM IFUNDWOMEN COM PACE Circle Back with Community Support Alderman Neighborhood Business Development Centers (SBDCs’) NonProfits Complete Sources and Uses 6 Locate Financial Commitments and Other Funding 7IdentifySystems&VendorsNeededforSuccess Ask the Hard Questions What local, minority, or female owned products do you offer? What is your percentage of female or minority owned leadership? What are your giveback initiatives to the city of Chicago? Negotiate Terms Request Cross Promotion Find Systems that ensure Accountability and Transparency
$250K$5M $250K
Grant. Tax Increment Financing (TIF) NOF Large Grant
Tax Increment Financing is a special funding tool used by the City of Chicago to promote public and private investment across the city. Funds are used to build and repair roads and infrastructure, clean polluted land and put vacant properties back to productive use, usually in conjunction with private development projects. Funds are generated by growth in the Equalized Assessed Valuation (EAV) of properties within a designated district over a period of 23 years.
NOF Small Grant Chicago Recovery Plan Development
Apply CITY OF CHICAGO GRANT PROGRAMS
- Community
Up to
Run Ask Architect for Sidewalk Diagrams & Kitchen Diagrams first for Permitting Purposes Create Calendar Invites for NOF Deadlines for the Team Set Weekly Check In Meetings with All Key Stakeholders for Cross accountability Adopt Accountability Software for GC & Architect to Stop Scope, Budget & Project Creep Begin Licensing and Permitting With Attorney Business Restaurant Alcohol ***check for moratorium City of Chicago State of Illinois Sidewalk (if applicable) Food Service (include GC in this process) PPA (if you want to do events, live performances or charge at the door) Certificate of Occupancy Placard HOLD YOURSELF AND THOSE AROUND YOU ACCOUNTABLE CROSS YOUR T’S & DOT YOUR I’S USE YOUR CITY OF CHICAGO RESOURCES SecureDebtFunding 01 AlertCommunityPartnersofNOFwin 02 EngageKeyStakeholdersToMoveFullSpeedAhead! 03
Building Review dob info@cityofchicago.org Health Department Inspection Prep How to Avoid Inspection Mistakes Food Code Ordinances Design Design Standards Run Identify Red Flags Early & Address Them 05 Begin Hiring Project Leads 07 Preplanning Reviews with Officials and Mentors 04 Begin Social Media Marketing & PR Efforts 06
12 Figure out Your “Pay It Forward” Run Build Out Website & Systems Create Community Programming with Community Partners Create Training Plan When you Go Over Budget: Identify“NicetoHave”,“WanttoHave”,“NeedtoHave” Apply for More Grants Separate your Opening into Phases!!! Itismoreapproachableforyou ItwillgiveyoumorePRinthelongrunandthingsforyouraudiencetogetexcitedabout 08 13 09 10 11 UseYourCity ofChicago Resources Sprint MARKETING, MARKETING, MARKETING DetermineHard Deadlines AskMentorsto PreInspect ScheduleInspections Hiring Indeed Paid, Facebook Paid, Instagram Paid, Community Partners Training Elements of History, Meaning, Investment & Future is what will set you apart Soft Opening VIP Preview and / or Ribbon Cutting
Open BE PRESENT BE REACTIVE BE OPEN-MINDED TO ALL FEEDBACK DONT HESITATE TO ASK FOR GUIDANCE
Cecilia Cuff 312 593 3948 cecilia.cuff@thenascentgroup.com https://thenascentgroup.org/ @thenascentgroup
