WWL>Topics>>3-10-14 2:10pm Angela: on the Goldman Sachs 10,000 small business program

3-10-14 2:10pm Angela: on the Goldman Sachs 10,000 small business program

Mar 10, 2014|

Angela talks with Carla Coury, executive director of Delgado's small business program Goldman Sachs 10,000, about the program and takes calls from graduates.

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Automatically Generated Transcript (may not be 100% accurate)

Well are -- was small business person who wants to get bigger or better or smarter. How can you grow and learn to be the best you can be. One answer is an incredible program and Delgado community college that I keep pairing of wonderful things about. It's called the Goldman Sachs 101000 small business program. One person to completed the program who is already a successful small business told me it was like getting an MBA in four months. What is this program and how can you get involved. Here to tell -- is the executive director of the Goldman Sachs 101000. Small business program -- Corey and I appreciate your being here really do I am hearing the most incredible thing about this. First of all this program is one that one of only eighteen in the nation. Yes the program is located in eighteen different sites in the country eleven of them education sites and the other seven -- capital only sites. So your at Delgado and tell me about -- how does that work cable first of all the Goldman Sachs 101000 small business this program is a 500 million dollar investment. That helps small businesses across the United States create jobs and stimulate economic growth by providing. -- per Norris. With that practical business education. Access to capital and business support service that you already have to have a business is not. For the one who has the dream that the business right this is a business program for businesses that have already been in business for at least two years so if you're out there and you -- does at least two years and you want to. Just get better and expand and learn how to everything from -- marketing to. -- marketing to how to. Use your financial statements to strategize in your business how to improve operations and process. How to hire employees how to and hire employees. How to become a better leader. Just this makes much sense. And it seems like such an again one of the women who's gonna call us later that's a gamble was the one who said. It was like getting an NBA it was very intense. And but worth every second but it's a real commitment of time it is a commitment of time and in fact week. Let business owners know that it will be about a hundred hours in that timeframe that you mentioned. However the differences as they're not going to be taken away from their businesses this this time but they'll be spending working on their business. Not necessarily in their business. Since you've been involved what are you seeing are the greatest needs of small business people. Well we were just talking earlier here in the waiting room about. Business owners need resource that's a lot of businesses will start. If that Q are they eat a business owner will think they've got this great idea mate and they know what to do to get started but once they get going. They're not sure where to go next to to develop and to grow. And there are so many resources in New Orleans business owners are really lucky. To be -- now running a business in New Orleans because of all the resources that are available and the Goldman Sachs 101000 small business has program. Is one of those programs and as you mentioned it's not for startups -- They're many resources -- -- but this is a program that's focused on growth helping the small business owner. Who's already out of the gate who has a product who has a passion. And they're already position somewhere in the marketplace and now understand that the next step for them. In its growth you know what's exciting is this just came out with this Friday. Or study tracks local Goldman Sachs. Program. And I'm I'm reading what you already know and 74%. Of the participants increase their revenues. And 50%. Created new jobs. Yes those are the results from the small business owners that have gone to the programs here in New Orleans which is actually above the national average. For business owners who graduated in some of the other cities so we're extra -- -- my gosh I mean. Doing major major things yes. So you have a faculty. Yes we have a faculty of experts. Some are business faculty within Delgado and others are experts that are. Here in the city that we bringing in put in front of the class so give me sort of a rundown of once someone gets accepted. -- how is someone accept it. Well first of all it's there's an application process involved it and it's a competitive application process. So. The first step would be to fill out an application. And it's reviewed locally the next step would be to determine. Whether or not the businesses meet the qualifications to be in the program. And those would be that you would need to be in business for at least two years. Have revenues somewhere between -- 150004. Million in your last fiscal year. Have a minimum of four employees including the owner and most importantly how to business that has some growth potential. So businesses that meet those qualifications. And to complete the application will then be invited for an interview. And the interviews are conducted by. Partners our national partners from Goldman Sachs. From the partner that manages the selection process and local partners. If they passed backgrounds. Than their invited to set in the next class. And die for us here in New Orleans that will be he'll be -- class starting in June class starting in September. And once and they happen invitation to participate in class then it's really up to them what they make the experience. And we just want to mention if you're sitting listening to this thing I would be very interested. The deadline is today but you might extend to today yes technically we were hoping to get all over applications in for the class the beacons in June. By today. But if there's anyone who's listening to this programming getting excited about 101000 small business says. I wanted to make sure you have enough time to go check out the program on the website complete the application and will still take it tomorrow and the website is. Www. DCC. Dot edu. Slashed ten KSB. Okay and we're gonna give that again percent of people who are scrambling but. That. DC see what does that process -- Delgado community college okay because that's where that we are. Located okay so what's DCC dot edu edu slash ten. Okay SP 1000 small business I promise you we will do that again but it and against his other class coming up in September census -- for pushing it a little bit. But from from that point. That you're accepted and you start class work but as you said it's also working on your business. Right every activity in the class is based on line. A decision or lower skills that you need to learn our business owners need to learn. And to think about in order to grow their business in affected the deliverable of the program is. A completed growth -- so everyone has accepted to the program. Not only -- their time to coming to the class and working with their business advisors they also commit to completing a growth plan which. Includes its personalized just for them and that's what they'll be working on the majority of the time that -- -- in the classroom. -- I want everyone to stay with -- we're gonna get some calls from people who have. Graduated and if you call that the of complete the course. And can give us some real testimonials but we're also going to meet someone that ten. Has actually been here before. My look Torre and we're gonna talk about her true fund financial which is a nonprofit. Financial organization here really -- money here about this to stay with this I'm Angela under the W well. We been talking to Carla Cory who is the executive director of the Goldman Sachs 101000. Small business program. A program that was built and again -- one of only eighteen areas in the country that have this which is very very lucky. But it's to help small businesses grow. And be the very best they can be. In part of that is having access to capital. And one of the national partners with them is a nonprofit bank called -- fund financial. And we are now joined by a mile Torre who's the vice president and managing director. But -- -- in -- nice not to have been on like last week talking about something non related issue marked one of the grandchildren. Leah chase. But that's why I learned about -- -- bank which I never knew existent. So first of all tell me what it is and how much related to what you do with. Goldman Sharon is just once Richard Burton on the bank -- non depository institution OK so we Jews and money it's a small businesses that are in underserved communities our mission is to -- stimulate economic development. In underserved communities by providing innovative financial assistance as well as hands on technical assistance to small businesses and profit organizations. And nobody gets a checking account there hugest -- to. Unfortunately we do nine to about checking accounts of how you. And definitely a lot of small business that come to us for the capital that are not able to access that from traditional -- Such -- chased region's capital. And I think it's important to point out. You don't have to be part of the Goldman Sachs. Program to have access to what you're doing exactly we partner with Goldman Sachs on several occasions -- in our New York office is well this year in. In New Orleans we actually two there access to capital workshop on that they provide frontier. The applicants. And we really focus on just telling those small businesses. That there is other options outside of the traditional banking institutions for those businesses that have not been an operation. -- -- the year period of time as banks at. For businesses that are seeking capital we acts that they have been in business for at least one year. And have revenues of 200000 more. So one year 200000 or more and they just. If they are using it primarily because they want to expand. Where -- we do have a lot of our business owners that are looking to expand they're looking for working capital they're looking for equipment inventory. To help their business reports. -- can we do have some callers are so happy. -- and Tucker who was the owner of -- get this right LSI. Engineering and construction. Into your area you are graduates of this program absolutely -- -- and tell me the experience. It was an incredible experience. It looked at just that the floor very content in the that's for sure bush. Say it's worth every second if I could go through it again I would go through it again. You know it does not let the program. I've increased revenues up 34%. Of Ireland bring more people and ironically. -- -- -- -- getting into engineering and construction management believed in awarded. Eighties certified that but at BA debate we would bet that cut that down. -- did create more opportunity and let competition. And -- the bullet that program really helped get Ayers and and help but learn we need to do to get prepared him well. Now I love hearing that I really do if if Karl if you wanna comment that she has to echo what a lot of -- Let's yes absolutely I -- the program is designed. To help businesses increased revenues and create jobs and and thus stimulate the economy and I -- and her business are. A great example of how that's actually working. I'm let me ask you when you say you hired more. I just find it very interesting part of the curriculum of this. Course is is learning to -- what specifically did you learn. Specifically -- we we found more route. -- captain this finding talent that you know more importantly an aren't finding it we've learned in the -- with that program how it happened here existing. Count. -- great degree. And create these the spot for people but it. I think more than that. It's great to find. The -- that you -- your own personal that you might. But the -- with that program content that they -- differently and it will not people happen to their knowledge is well I think that where it looked out. What that is such an interesting statement. I think I am made it a great point there -- it. -- to think differently and you know we like to say that going through this program will help. Small business owners -- skill set with a mindset to be able to create new opportunities for growth. And for some of these business owners some already have a lot of those skills that they just don't know how to strategically apply them to think about them in a way that. That makes sense for growing their business. You mentioned parliament also about. Learning how to on higher. Until we talk about that. Well there's one of the modules. And again focuses on on HR issues and managing staff for growth but. Probably the module on operations and processes. That helps business owners kind of you know dive deeper into how -- their business work how's that working at a fundamental level and who's working who's not working decides what's working what's not work. Now and that can be very difficult for them but very very important it's. You know heart -- anything out you wanna say I am. That and the fact that you know I know and the Balkans. It. It's hard to find. -- we all have to be everywhere at the same time but. This is did that and that meant a good time that you can't -- not that you visit them and lately. Freedom and that that they -- -- report the fact that this program it really is the mini MBA is free. And I think that that are I wish more minority business owners in the city would happen to it. I mean it's in excellent excellent program. Continued success to you. That wonderful. Big increase in revenue and more employees and you know that's what we keep hearing that the future of this area's going to be small business and it's one employee at the time. And I ended mention one thing that but somehow I failed to mention there is no cost for this program. So this this is an investment. In the New Orleans region by the Goldman Sachs Foundation. And there's absolutely no cost no strings attached to the -- There was me and text message does the annual revenue absolutely have to be a hundred. Above a 150000. -- we used to as a -- it's it we we can be a little bit flexible they're depending on some of the other qualifications. That's very content OK let's go to. -- sells. Another graduate. Yeah we'll talk to me about boo -- bounce. Well it's indoor football background and party -- and homeless and now we opened up about. Five years ago and now I graduated in their first class the Goldman -- program I'm in June of 2011. And what did you tackling different. Remarkable change in just not my approach to go -- about nine Monday Monday that they are we about increased Arab and -- profitability. Since finish the program. It's just been one most important experiences about my career we. The company went everything from communications where bankers and potential investors -- understanding nine. Financials to delegating to. Access to capital setting up standard operating procedures just if I go on and on it was just so remarkable experience. Let me ask you when you open to your business. Did you have a business background. I was actually up until storm it the vice president and general manager of the desert nation TV station hotel room. Report that in hotel. In the still -- the hotel so it needs and branding experience. But network worked and mortar site business. So I. It in the lot of help in those areas from teach all our -- understanding financial and and such so but my background and planning there. But and so far as managing people want at that level one and in the program really help me hole. A specific about managing people that you now know that you didn't before. Well. Yes but labor -- just I have to really stay on top of that stay in Spain and how to. Interviewed people do. Find the right people and they need that that's and as the previous and graduate had and said being able to. Pinpoint the strengths and weaknesses that -- staff making sure that you have. An important. And strong number two person that's just so -- central committee when you're not here -- you need to be and make sure you know that have either followed by. -- strong number Q that things like you do and you're you're you're you're trained with them along with them in the bank like you do -- that it needs to. More division more opportunity. To work to get on -- business and growing business. And just focus on the rudimentary. Hot day today. How much has your business grown century took the course. While our revenues and with that we increase our revenue on average 4%. For years but I -- that the most important part of that. Is that our profitability. Has grown and there I've learned to work more efficiently. And had not completed the program wouldn't be where I am right now was. Setting up our plans to open a second down on on on nor shall we have we have approximately an approach when he employees at 24 employees here. So. We enabled him to focus on growth rather than jets once again working on it is not in the. I really appreciate your call that our listeners due to. And I know everybody out there saying you know I wanna do this this guy just in it and and congratulations to. Fighting for. We're going to come back and Jenny stay with this over -- go to the newsroom now and on saints will we are talking with Carla -- who is the executive director of the Goldman Sachs 101000 small business program house at Delgado community college and it's now in its fourth year beginning -- -- -- right. And where it takes people who are already in business to certain criteria at least two years. And the -- wanna grow and -- do that and how do you connect with financial institutions etc. How to become a better business. Better employees motivating them hiring them. George Karl losses on hiring them and also with my look -- who run. Is with the true fund financial which is a nonprofit organization. That helps give loans to companies that can't get them in traditional ways you also have the criteria as well. But it just both of these things I'm listening to both of you if it's about hope. It's about oh my gosh I really do have a dream that started it but on May be at a place where I need help they need that push. We are now joined by Jenny westerner who has the owner of deep fried advertising I love the name of that and Jenny you're also a graduate. I think it was meant. To your experience. Terry this would absolutely incredible time. Abolition of our company experience under -- But just completely tremendous. She did the teacher worked so. Much one on. Attention it's early time. And I'm one of the first things that we learn and I went on understanding the importance. Delegate you. Really are out and work on to work. On -- as opposed to working and it it's kind of and it. And each hand and it was incredible and I'm and the program customers after. Eight months ago our panel and tired of people that we went from part of -- -- -- we went out fighting and being we're able to expand there. There's the. Until excitement in your voice you know and and that's a wonderful enthusiastic feeling. It's like you've been set free and now the comment which the other person that as well work on your business not. So that your really trying to think very big picture. Sometime apple it's very difficult to delegate -- Take us through that process argument to make some decisions. Well a lot of what wanting to -- covered in class we touched on what. Learning about how to view our map resources. And you've got. Well these are important are working party and are there. Age and they teach you ought to get everybody to be more on board to help keep -- -- that the default. And everybody is really gonna -- Here. People are working in your company -- -- outside and really thinking about that -- -- -- are you waiting to be. Got into. Really important. Feature of the program. Can't get it. You realize you just can't do everything yourself. It's possible to grow if you're going to hold on EL IQ. You have to acted like people who currently attempting and each each prosecutor job to do. Something that -- Carla and -- we're saying is that. One of the benefits is that in fact you meet a lot of people in this class and you end up working with them. Certain I am working with several people that are in the -- some. Client didn't fund partnerships that would Don mean just right there. The relationships I developed Democrats are harder. So you highly recommend. -- crying act I got into the program right kind excitement needs and I didn't even realize how many doors are gonna open Porgy. I mean like earlier it was -- time consuming but it was so it and you know we. You were you to do so information or spitting in Africa are. -- -- he got up you're going to be a direct direct thank you -- -- really. Every morsel much there are every -- back -- show about able to. It's fantastic I really appreciate the call and our listeners -- to your inspiring and can success to you. It we're gonna take another break we're gonna come back we're gonna talk to another graduate. Betsy gamble of gamble communications who has a lot to say stay with us and Angela under the that you. So you wanna grow your small business. There's help out there and among that is the incredible program called the Goldman Sachs 101000 small business program. -- a national program that we are one of only eighteen. Communities that has it. Another graduate and a wonderful friend -- gamble of gamble communications. I was here not long ago talking about something else and she's so proud to be graduate. And she was the one who said it was like getting an and the hang in four months -- Yes the Ayatollah. Common fact it's such an important part. Of my business life now. I was and that third cohort and like Jenny said before and other express. It was such a privilege to be accepted into such a prestigious. Program. The theme that is recurring throughout all appeared to ask is that you. Learn to work on your business and not in your business. I couldn't agree with that more. You know what and first step in -- company which is ample communications. Five years ago. There was never any doubt that I could do the PR -- the business I'd been doing it for over 25 years. It was as comfortable and he is getting out of bed in the morning. But what I didn't have that confidence that I had to do with actually Brian -- business. And so when the elements fact opportunity. Came about. With absolutely. Delighted and not finish the program. I really felt like I had been validated. That I and has the credentials. To with pride and confidence and assurance. Move forward and yes I can do this. And so far at that. Just so grateful to have been part of this program and continue to be very involved in that. What it what would you say are the the two biggest things you learned. I have to agree with Jenny from deep pride. Spoke before. Prep before I did I think learning how to delegate is especially in ideas and if so important. And we are it's sort of the relationship that you'd be able to -- and grow. And I knew because of mind network -- friends and colleagues and former clients in current clients. That people. It would look forward to working with me I was down. But that would probably afraid that they would only want to calm because that's maybe and not because -- -- -- And my staff is such an incredible. Group. Professionals. That I had to learn how and fruit grown up in fact learned this. Two positions down and people of authority which they all are. And so we -- we're getting there and it's it's growing in that Spain and it's just in remarkable. What did you learn how to run the business and the financial end of your business. -- -- and is -- dairy. I I don't like the financial and that much about like the PR. And so I. Learn to do what I do best. And two out sort things that I'm not as comfortable with and it and it's OK to -- It's much better for me to be. The Philippines but is this growing but is it -- relationships through networking group professional development. That it is for me to sit down with my accountant once a week -- three pounds -- -- and go over details. What Goldman Sachs taught me is it's okay outsource that. But what's really important is Betsy now know what questions to ask. What. -- -- to look for what -- to require. So I'd I'd go into it would acknowledge that yes because how can do it. But -- and died -- yet that really big for me it was really -- now with the take them out. All the financial part that. Have you added. We have me we added three employees and we continued to grow. I think one thing that I really credit Goldman Sachs board is we were named the Small Business Administration. Woman is of the year for 2013. In the region think that the United States. And that was amazing to go up to Washington DC with all these small business owners and be honored for the work. That we could -- And again I that allegations. Those credentials from open common fact meant so much to me. Now this is incredible. You are yet but again she is such a professional she truly is not just an owner so very long and then I can see I can see it in your face. -- the more confidence and just. Feeling good but thank you for sharing it with everybody else and these are the stories we need to hear. Thank you bet -- hearing much. I want everyone to stay with this we're gonna once again go over if your interest in in getting involved if you know someone who is. How to get in touch with them right after this. Well it is called -- Goldman Sachs 101000 small business program. And if you really I think heard from people who go onto the program and how it's benefited them. In expanding and as you say rethink. Their business. -- -- who was with the -- fund financial again is partners with this group as and you were beyond that as well helping people. Again I'm trying to think about the the listener out there -- saying you know I am at a point now I do need to invest. But how to -- -- the money. Shore so. Definitely I would say give us a call. Our numbers sponsor of Ford 2935550. And we will. Find out more about your distance assess the business -- -- -- -- or talk to you about. Where you see your selves the next a couple of years and work with you to look through your financials. And seat. What you can take on at this time so we have our loan officers are currently available to. The small business owners to talk about their issues to see where they would like to be in the next few years and they literally go to the business yes yeah so we are located downtown on grant your street but we're very mobile. We will go to any any business -- we have offices actually in Belle chase Louisiana as well. So we service Orleans Jefferson Pacman and saint Bernard parish and so we would. Actually go to the business -- to talk with them about the issues and in your criteria is different. Right so with the Goldman Sachs program he has to be in business for at least two years for -- fund financially it at least one year with 200000 in revenues. So weird looking at those businesses that. Have gotten to learn of this with a little bit but they still need Som. Both technical assistance and financial assistance to kind tickets have been next levels ovals of the businesses that we're looking. Did you tell me earlier that you work with 12100 distances. Yes on we've worked with 12100 businesses both for it a technical assistance but for financial assistance over 200 businesses with. Twenty million dollars on since 2007. To them this tremendous. And also importantly. I think that I wish you heard a lot of callers say that because of the Goldman Sachs program and then access to capital they're able to hire. And also retained. There employees so sends 2007 we actually. On -- -- able to help small businesses. Hire are retained over thirteen hundred businesses. That that it people yes I'm sorry our team of people yes you know it goes back to -- hearing it but this is the reality. That our future is small business yes and it's happening right here. In our backyard. And as we were talking about earlier I think it's important. For the small business owners and New Orleans especially as we're seeing one at that. -- fastest growing cities in the United States. That there are resources out here for you we work definitely with Goldman Sachs. Other banks other. A technical assistance providers to make sure that business owner is not let out so we if we cannot help you with. Your financial assistance -- too technical assistance will refer you to other institutions that will be able to count because there's so many resources out here for the small businesses and -- Kind of hope everybody's hearing -- I wanna go back to Carl. People would go to the program it takes four months in the hearing from everyone and it's time commitment well worth it but it continues on afterward. Yes so after. A business owner graduates from the program it it's really not too much -- graduation as a launching point because that's the point at which they will start to implement their growth plan. And first of all we followed them for thirty months after. This this launch this graduation and and follow them and watch their growth and hear their growth stories and measure their growth. But most importantly they'll continue to. Get together. Outside just to stop their own nest building networks and we continue to offer professional education and support. For these business owners for the time. After they graduate it is absolutely spectacular exit Delgado and again email address is. The website is www. DCC. Dot edu slash ten KSB. Can't thank you both enough either expired bank and continue to thanks again everyone stay with us. Another hours ahead we'll be right back now let's go to Don names in the newsroom.