LIFT Development Enterprises Opens Enrollment for Founders Business Growth Bootcamp Spring Session
Innovative, tailored program designed to accelerate growth and improve access to funding for businesses owned by women, minorities and veterans
"Education is a key component in elevating the number of opportunities available to underserved members of our communities, said Dr. Michael Cunningham, Chancellor, National University System. "In partnering with LIFT Development Enterprises on this program, our goal is to address the skills gap that exists, helping to ensure these business leaders have the tools they need for sustainable success."
The 90-day program is aimed at entrepreneurs with established businesses, earning between $250,000 and $1 million in annual revenue, who want to achieve rapid growth and create a sustainable and reoccurring revenue model. Training is conducted via weekly online sessions designed to enable convenient participation from the office or on the road and culminates with an onsite Pitch and Graduation event in La Jolla, California. Participants will learn what it takes to develop an effective growth and funding plan and a designated coach who will partner with each business to build a plan customized to their business goals. At the program's conclusion, participants will have the opportunity to present their growth plan for funding consideration by a network of qualiﬁed funders with access of up to $250K in funding.
Topics covered in the curriculum include a business health assessment and funding readiness; how to add or grow recurring revenue models; funding options assessment; and a business growth plan playbook. This includes strategies for how to own a niche market; sales and marketing for growth; how to scale operations; growing the effectiveness of current staff; hiring the right talent and managing cash flow. Program instructors are experienced entrepreneurs, led by Kim Folsom, founder of LIFT Development Enterprises and Managing Partner of Founders First Capital Partners, who has over 25 years growing and funding small businesses.
"The Founders Business Growth Bootcamp has established itself as a leading platform for companies seeking to take their business to the next level," said Folsom. "In particular, we aim to bridge a gap in support for businesses owned and operated by underrepresented communities including women, minorities and veterans and create real opportunity for them to achieve sustained growth. To date, we have run four bootcamps, helping 67 businesses with a combined revenue of $21.7 million, secure additional funding of $3.75 million and create 29 new jobs. Out of the 67 businesses, over 51% have now achieved profitability and on average increased their recurring revenue by 32%."
Participants in previous Founders Business Growth Bootcamps are a proof point of the program's impact. Klarinet Solutions, a San Diego-based SharePoint Professional Services company participated in the Fall 2016 Bootcamp following a five-year period of flat business growth. After program completion the company added a new recurring revenue stream resulting in sustained growth. According to Klarinet's CEO, Linda Amaro, "Founder's Bootcamp provided a focused program with a wealth of timely, relevant strategies to kick-start growth. Individuals could take only one or two points from the program and still watch their company grow with the support of the Bootcamp's team of experienced entrepreneurs."
The fee for the program is $3,297. Women-owned businesses, ethnic minorities, veterans, businesses located in low to moderate income areas and members of participating business organizations may be eligible for a scholarship up to $1,600. Cash prizes totaling $7,500 will also be awarded at the Pitch Day event for the best growth plan, best job creator, or best recurring revenue model.
About LIFT Development Enterprises, Inc.
Based in San Diego, CA, LIFT Development Enterprises are a not-for profit, 501C3, community development organization and small business accelerator focused on addressing the huge disparity in revenue and job growth in small businesses led by underrepresented founders. We offer programs to guide established small business founders through leading, funding and growing sustainable, profitable and scalable small businesses. For more information visit our website (http://www.liftde.org/
About National University
Founded in 1971, National University among the largest private, nonprofit institutions of higher education in California. With more than 150,000 alumni, National University is the flagship institution of the National University System. National University is dedicated to making lifelong learning opportunities accessible, challenging, and relevant to a diverse population of students. Four schools and two colleges – the College of Letters and Sciences; the Sanford College of Education; the School of Business and Management; the School of Engineering and Computing; the School of Health and Human Services; and the School of Professional Studies – offer more than 100 graduate and undergraduate degrees and 23 teacher credentials. Programs are offered at locations throughout California and across the nation and are also available online. National University is headquartered in La Jolla, California. http://www.nu.edu/