TAKING IT TO THE NEXT LEVEL GOLDMAN SACHS HELPS BUSINESSES GROW UP
By Tim Moloney | Photography by Anthony Rathbun
Did you know there ’ s a free local program , funded by the Goldman Sachs Foundation , that helps Houston business owners get back on track and positioned for success ? Based at Houston Community College in Southwest Houston , it ’ s called Goldman Sachs 10,000 Small Businesses and it ’ s paying off major dividends to the local business community .
“ New businesses tend to close between their second and fourth years of operation ,” says CATHY LANDRY , executive director of the program . “ So that ’ s where we come in and help them with a tune-up . It ’ s a very structured business boot camp over a three-month period .”
Taught by actual business owners with real-world experience , the curriculum comes from Babson College ( the top entrepreneurship program in the country ) and the business negotiation cases used are from Harvard Business School . Through the program , the selected participants gain practical skills in negotiation , marketing and employee management that can immediately be put into action . In addition , the “ students ” receive the tools and professional support to develop a strategic and customized growth plan to take their business – whatever it is – to the next level .
Sounds ambitious – but it ’ s working . According to LIZ LARA CARRENO , the program ’ s outreach director and an instructor , “ The results speak for themselves . As of January 2017 , the Houston program ( one of 14 participating cities ) has graduated 478 local business owners who are now part of the National Goldman Sachs Alumni .”
In addition , of those graduates :
• 85 % of business owners that graduated are now doing business together
• 2 – 108 business age range in years
• 61 % of these businesses created jobs
• 82 % of these businesses grew revenues
Each session , 30 businesses ( who have to apply ) are selected . “ They become very close ,” says Carreno . “ We bring in a diverse business cross section – from electrical contractors to public relations firms to medical doctors . After graduation , we follow them for an 18-month period to check their progress .”
42 LOCAL | february 17