Business and life is about failing forward fast and learning excellence along the way.
Years ago I worked for one of the largest SBA lenders in the nation. As a credit analyst, I discovered that companies that were mentored performed a lot better than companies that went it alone.
More specifically, companies that were franchised/mentored outperformed all the others. (Top-tier franchisors have invested massive amounts in research to hone their business models to help their franchisees successfully replicate.) With this discovery, we immediately formed the franchise financing division and made it our main focus. It became the most successful part of our lending activities.
Over the years I have personally helped fund thousands of companies; Fortune 500 to Mom-and-Pop establishments. If there is one constant in all companies it is that each has to successfully execute and optimize their sales and marketing processes. I have known very few companies to go out of business because they had too much business. (For that matter, I cannot think of any specific one)
While managing Provo City’s Business Loan Fund – The Business Development Corporation of Provo, I started experimenting with helping companies gain access to mentors not just money. Monthly, I would bring in the CEOs of our portfolio companies to receive information on a variety of topics, such as:
These are all highly valuable topics for companies. Also, during the last several years I have been experimenting and researching business incubation; i.e. Paul Allen’s Provo Labs, Novell’s Technology Center, and Utah Valley University’s Business Resource Center. Most business incubators and incubation type programs provide services such as space, accounting, legal, etc. Very few programs provide a comprehensive curriculum to help companies develop and optimize their business model. Particularly their sales and marketing processes. At the end of the day, it doesn’t matter how many patents you have, how many PhDs you have on your board, how great your coding is, or how much money you’ve raised…it’s all about how successful you are at creating and keeping customers.
I’ve been working fervently, putting together a “World Class” curriculum full of sales and marketing subject matter experts that are helping companies solve their biggest problems “Generate More Leads > Close More Business > Keep More Customers.”
The results are quite remarkable. Since the program began, more than 100 companies have participated. Last year these companies’ revenues totaled over $100 million. The program has helped them increase sales an average of more than 51% and participants rate the impact of TechX Revenue Accelerator on the performance of their companies as 8.32 on a scale of 1 to 10.
These expert mentors are willing to help you and your company “one-on-one” to be successful. As one prominent local Angel investor puts it, “successful businesses require massive doses of mentoring.”
Are you in?
Roger Andrus, Managing Director
rogerandrus [at] utahTechX.com