Submitted by Sinclair College
Sinclair College in Dayton hosts an annual educational program aimed at helping small business owners sustainably grow and scale their companies. The Goldman Sachs 10,000 Small Businesses program is offered at more than two dozen locations across the country, plus the UK and France. While the oldest site has hosted the program for over a decade, the Southwest Ohio region just launched in 2020.
This free program offers business owners the opportunity to dedicate time to developing an implementable growth plan. The curriculum – developed by Babson College of Business in Massachusetts – walks scholars through various aspects of business development. Topics include financial statements, revenue projection, hiring and coaching, operations and processes, metrics, leadership development, marketing, and other subject matter directly impacting business owners. “It’s like getting a kind of mini-MBA,” said Val Beerbower, manager of the Goldman Sachs 10,000 Small Businesses program at Sinclair. “Except instead of just hypothetical or generic businesses you’re using as examples, the lessons you learn and concepts you master are directly related to your business. It always makes me feel good when a scholar comes in at the next class session and tells us how something they learned last week immediately made an impact.”
The Southwest Ohio partnership is set up uniquely from other Goldman Sachs 10,000 Small Businesses sites. Each host school only offers one cohort a year on specific semesters. Cohorts last about 14 weeks with scholars meeting once a week for a full day, and some half-day clinics. Sinclair College hosts the summer session (May through August), Columbus State Community College hosts the fall (September through December), and Cincinnati State Technical and Community College has their classes in spring (January through April). Businesses located anywhere within those metro areas may attend the session at any site. Applications are accepted on a rolling basis. Scholars should choose the site they intend to go to.
Eligibility requirements include: applicants should be majority (51% or more) ownership of the company, the business must be incorporated for at least two years, the company must have at least one other full-time employee who is not the owner (W2 or 1099), and the business must generate at least $75,000 in gross annual revenue. While there is no financial cost for attendees to participate, this is a time-intensive program. Scholars can expect to spend 15-20 hours a week on pre-work, plus the weekly class that runs from approximately 8 a.m. to 5:30 p.m.
“In addition to the excellent guidance from the academic faculty leading each class, and the software tools scholars use at no cost during the cohort, they also have access to business advisors,” Beerbower said. “You can tell the program was a collaborative effort, blending academics with entrepreneurial know-how.”
Applications are open for the summer 2024 cohort at Sinclair College in Dayton. The deadline will be early in 2024. Applicants who meet the minimum criteria are considered for the next stage in the process, which will begin after the deadline. The final step is an interview, and then panelists submit their scores and remarks to the national recruitment nonprofit for validation. Once the final list is released, scholars join for the first two sessions, taking place May 15 and 16.
More information about the program can be found online or the national website. Interested parties can also contact Beerbower directly at val.beerbower@sinclair.edu or 937-512-2336.
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