Mentor Protégé Program
The Mentor Protégé program aims to assist local business owners in the Greater Logan neighborhood, one of San Diego’s most impoverished communities, stabilize and expand in order to preserve and create new economic opportunities for low income residents. The program will provide an array of services tailored for businesses at different levels of growth and development.
Goals
- Assist neighborhood business owners stabilize and weather local market changes, expand, and grow to promote job creation and greater economic self-sufficiency.
Objectives
- Build the knowledge and skills of local business owners.
- Provide products, tools, and resources to strengthen local businesses.
- Assist local business owners to access capital and financial resources that benefit and enhance their operations.
- Assist local business owners develop new relationships and build networks that help them access wider markets and business opportunities.
Activities
- Orientation Workshop
- Workshop that introduces business owners to the program, eligibility requirements, program requirements, etc.
- Workshop that introduces business owners to the program, eligibility requirements, program requirements, etc.
- Individualized Business Readiness Assessment
- Each business owner will meet with our Program Coordinator for a comprehensive assessment of their business, including financial analysis, business licensing, financial management systems, etc.
- Each business owner will meet with our Program Coordinator for a comprehensive assessment of their business, including financial analysis, business licensing, financial management systems, etc.
- Individualized Business Development Plan (IBDP)
- The Program Coordinator will develop a detailed individualized business development plan (IBDP) with specific goals, outcomes, and strategies by which these are achieved for each business owner. The plans will include:
- FastTrac Workshops: 30 hours of facilitated training using the Kauffman FastTrac NewVenture, designed for entrepreneurs in the early stages of business development, provides the tools to develop their business concept, determine the viability of the business concept, and outline the critical steps to a successful business launch or growth.
- Individualized Peer Mentoring and Coaching: We will connect business owner to peer mentor who will meet with them 1 – 2x a month to help move them through their IBDP. Mentors will be experienced business owner who we will recruit with assistance from the BID Council and other partners.
- Technical Assistance and Business Support Services: We will retain experienced professionals to assist business owners establish and strengthen their core operating/administrative systems, specifically Financial Management (establishing QuickBooks systems, etc.) and Human Resources Management.
- The Program Coordinator will develop a detailed individualized business development plan (IBDP) with specific goals, outcomes, and strategies by which these are achieved for each business owner. The plans will include:
- Networking Opportunities
- The program will offer and connect business owners to:
- Monthly Business Roundtable breakfast
- Community and regional business networking events
- The program will offer and connect business owners to:
- Access to financing: Our Program Coordinator will work with businesses to prepare and qualify for public and other financial assistance programs (facade improvement loans, SBA loans, etc.)
Outcomes
- Business owners will have increased knowledge, understanding and skills.
- Business owners will develop clear and feasible business plans, marketing strategies, etc.
- Business owners will establish and strengthen their financial management, HR, marketing and other operating tools, systems and procedures.
- Business owners will access and benefit from financial assistance and products.
For more information on the program please contact BAME CDC at (619) 858-0563.
