iWOW Incubator without Walls

What is iWOW Program?

The iWOW Program is an intensive nine month program designed to enhance the growth and profitability of small businesses by providing in-depth, one-on-one strategic partnerships with successful local companies. Some of Columbus's most successful businesses have volunteered their time and expertise to help small local businesses grow. Your company will be linked with an appropriate mentor company, and for the next nine months, you will have your own business advisor, cheerleader and management consultant to help your company grow and achieve its full potential.

• Capital needs - determining company's needs and identifying possible sources.
• Marketing strategies, i.e. identifying target markets (define), competitors' analysis, promotional strategies (with budget)
• Business plan

Protégés will also be enrolled in two comprehensive learning and educational opportunities. First, protégés will be guided through the HyperGrow Your Business book and workbook. Designed by an experienced Small Business Development Center consultant , HyperGrow is an excellent precursor to the nationally recognized FastTrac Growth Ventures and focuses on marketing strategies to help you take your business to the next level. Each of the "nine natural laws of growth" are covered in weekly sessions.

Second, all protégés are part of the five-week Columbus FastTrac Growth Ventures class. FastTrac is sponsored by the Kaufmann Foundation in Kansas City and has trained thousands of successful entrepreneurs all over the U.S. Some FastTrac facts:

• FastTrac is a nationally known, award-winning training program for small business owners developed in 1986.
• More than 30,000 businesses in 36 states and three foreign countries have completed FastTrac courses.
• FastTrac is supported by the Kauffman Foundation of Kansas City, Missouri. The Kauffman Foundation is one of the few national not-for-profit organizations with significant resources devoted to accelerating entrepreneurship in America. It was established in 1992 by noted entrepreneur Ewing Marion Kauffman.

Graduates of FastTrac programs describe the programs as something that encourages entrepreneurs to streamline their business processes, analyzes strengths and shortcomings, and achieves more balance in their work and personal lives. By working closely with other entrepreneurs in the fast-paced FastTrac environment, participants interact with a group of people with whom they can share ideas, strategies, and successes, while at the same time honing business skills they can use to shape their businesses for years to come.

How do I qualify to be a Protégé?

To be considered for the Columbus Mentor-Protégé class, applicants must:

1. Be willing to commit at least four hours per month to the formal mentor-protégé partnership. Partners will set their own meeting schedules - coordinators will be involved in making sure meetings are set and attended.
2. Protégé must commit to read Hypergrow Your Business book and complete workbook in nine weekly sessions.
3. Commit to attending FastTrac Program for five weeks (day-long sessions).
4. Be a member in good standing with the Chamber of Commerce.
5. Be willing to establish relationship with SBDC consultant.

Once I'm in the program, what will I be doing?

All participants will accomplish the following:

1. Complete a business plan, including:
   1. Three years financial projections
   2. Marketing plan with detailed budget
   3. Competitors' analysis
2. Complete FastTrac program
3. Complete Hypergrow Your Business book and specific sections of workbook
4. Complete a set of growth strategies in terms of sales, units, and/or % over last year (same month) increase in sales/margins.