Since 2011, more than 100 small businesses in the Vancouver area have received customized financial, market and organizational analysis, with growth action plans, completely free.
Washington State University Vancouver’s Carson College of Business offers business owners this service through the Business Growth Mentor and Analysis Program, known as MAP.
In the past year alone, more than 180 students in 46 teams consulted with 46 local businesses, entrepreneurs, and start-ups. Teams of four students partnered with one or two mentors from the business community, as well as a faculty member, to produce graded senior capstone projects, according to MAP manager Mistie Josephson.
To find both mentors and businesses for the program, Josephson reaches out to the community through various networking groups and referrals from past participants.
“Some [mentors] are seasoned business professionals, some are retired business people, some are consultants,” said Josephson. “They help students clarify business owners’ needs and make sure they are analyzing relevant information.”
The mentors all receive orientation training, as well as monthly follow-up meetings with business faculty.
“Several of our graduating students this year were hired immediately into positions they found through the MAP network, and many of them said the experience was critical on their resumes in finding work after graduation,” Josephson said.
Dixie Hurley, founder and proprietor of wine-focused public relations firm Trellis Growth Partners LLC, worked with a MAP team this past spring.
“It’s a very well-designed program,” said Hurley. “Their process forced us to focus on ourselves. I was challenged to provide deliverables; I was held accountable. We had to question everything about our own business. All of a sudden I would think, ‘Why are we doing that?’”
Hurley, who has offered management consulting in the past, said the program offered “some of my own medicine.” After seeing the MAP team’s recommendations, her company streamlined their service model, pricing and policies.
“This is a fabulous resource we have here in our own backyard,” she said. “I highly recommend it for any small business owner.”
Bonnie Brasure, owner of Bleu Door Bakery on Main St, said her MAP team offered valuable perspective.
“I’m working 70 hours per week with my hair on fire,” she said. “They gave me a lot of ideas I didn’t have time to analyze. They were able to look in from the outside.”
Now Brasure says her accounting is more efficient, and she has developed new menus.
“I absolutely recommend this program,” she said. “It didn’t cost me anything except a little bit of time each month. I was so impressed with the students; our future is in good hands.”
Businesses and mentors who wish to participate in the fall 2014 program can apply through July 25, and Josephson is already lining up the spring 2015 program as well.
For more information and application, see the program’s webite at www.business.vancouver.wsu.edu/bgmap.
