YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Elevate Entrepreneurs, a new program from nonprofit Elevate Branson, is launching in September with a focus on helping startups succeed.
Elizabeth Hughes, director of Elevate Entrepreneurs, calls the initiative “a startup bootcamp.” Details were unveiled during an event last month at Elevate Branson’s campus on Gretna Road.
“We’re wanting to assist people who have a dream and a clear business idea and want to own and run their own successful side hustle or full-time business,” she said. “It can be a business that’s already in existence but maybe they’re fledgling and know they need more knowledge to be successful. The whole intention is to reach people who really want to increase their household margin.”
Hughes said the 12-week program will host two cohorts per year, with the first scheduled to start Sept. 6. A second cohort is planned for January 2023. Students will be required to pay a $150 registration fee, but $100 will be refunded to participants upon graduation, she said.
To launch Elevate Entrepreneurs, Elevate Branson purchased curriculum from Jersey City, New Jersey-based Rising Tide Capital. Hughes said the program’s been implemented in 13 states, and Branson marks only the second rural partner and first in Missouri. She declined to disclose the nonprofit’s investment, which involves a one-time licensing purchase and annual renewal fee.
“On average, the entrepreneurs coming out of this curriculum see a 112% increase in business sales within the first two-plus years,” she said. “Rising Tide entrepreneurs have an 87% survival rate compared to the national average of 50%.”
Hughes also noted Rising Tide participants have an average household income increase of 63% in the first two years, along with a 59% reduction in the use of public assistance.
Elevate Entrepreneurs will teach participants business fundamentals such as budgeting, bookkeeping, financing and marketing.
“We’ll really focus a lot from day one on financial literacy because if you don’t have credit and if you don’t know how to obtain credit or increase it, you’ll never connect to the capital that you need,” Hughes said. “It’s going to be vital that they understand that piece.”
Ready and willing
While sign-ups for the program only started after a July 14 informational session for prospective students, Blue Eye resident Casey Parton said she intends to be part of the first cohort.
Parton, who has worked the past five years as a theater ambassador and in group sales at Clay Cooper Theatre in Branson, said she plans to open a farm and garden supply retail business in Blue Eye.
“I just feel there’s a piece of the puzzle that I’ve been missing,” she said. “For me, it would be a financial aspect.”
Parton said she needs to learn more about startup capital and best methods to access it. She’s no stranger to business ownership, as she ran Rockin’ C Lessons & Parties for five years beginning in 2009. The business, which provided horse riding lessons and hosted birthday parties, closed after Parton became pregnant with her son.
“Farming is where my heart is, and I really just want to do a farm and garden store,” she said, adding she hopes to open the venture in 2023. “My business before was a service business and this time it would be retail, which is something I’ve never worked in before.”
Elevate Entrepreneurs wouldn’t be the first Elevate Branson program in which Parton has participated. She’s a March 2021 graduate of Elevate Work, which helps participants learn communication and problem-solving skills, gain confidence for interviews, create a resume and better understand wants and needs of employers. Parton said she enrolled in the program to sharpen her resume and interview skills.
“Within the class, I really found my heart and desire and what it was I really wanted to do,” she said.
Elevate Work has classes twice weekly for nine-week sessions and is offered five times annually, according to Elevate Branson’s website. The program partners with local employers, such as CoxHealth, Penmac Staffing Services Inc. and Silver Dollar City, which guarantee interviews with interested program graduates.
Hustle help
While Elevate Work helps people wanting to boost their soft skills and sustain employment, Hughes said Elevate Entrepreneurs “takes it to the next level.”
“This is just a tool in the toolkit to help out,” she said, noting the new program can work for those looking to start a new business or a side hustle to bring in extra income.
According to a new survey from personal finance website Bankrate, the median monthly side gig income for baby boomers is $500, followed by $400 for Generation Xers. Millennials range $250-$400 per month, depending on age, while Gen Zers bring in $200 monthly, according to the survey.
The survey also noted 41% of side hustlers need the additional cash to cover everyday expenses. That’s up 10% from 2019, when Bankrate last conducted the study.
To help get Elevate Entrepreneurship off the ground, Hughes said she is drawing from contacts in her career, including her time as public relations director for College of the Ozarks.
Jim Freeman, director of the Career Center at C of O, and Hayden Head, a retired professor from the college, will be on board as instructors, Hughes said. Participants also will have access to business coaches who will help their startups after the program’s conclusion.
“We are so grateful they were willing to go along in this journey with us because they are highly qualified instructors,” Hughes said of Freeman and Head.
Elevate Entrepreneurs is capping the first cohort size at 15 participants, Hughes said, and future classes would be capped at 25 people.
Attendance at either the July 14 or Aug. 4 informational sessions is required to be considered for the program. Elevate Branson officials will select the cohort participants, she said. •
Digital Editor Geoff Pickle contributed.
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