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Presents: Small Business Services – Part 2

Presents: Small Business Services – Part 2. Hear from two creative chambers whose programs: Engage small business members Improve the business climate Advance Economic Development. Name of Presenter. Doug Minter – Business Development Manager. What?.

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Presents: Small Business Services – Part 2

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  1. Presents: Small Business Services – Part 2 Hear from two creative chambers whose programs: Engage small business members Improve the business climate Advance Economic Development

  2. Name of Presenter • Doug Minter – Business Development Manager

  3. What? PROPEL: is an economic development program serving the growth of small businesses within the Knoxville-Oak Ridge Innovation Valley. This initiative is administered by the Knoxville Chamber, is focused on three main verticals: 1. Small business ecosystem coaching/navigation, 2. Intentional small business mentoring 3. Support of workplace & marketplace diversity & inclusion.

  4. Why Mentoring? “We believe that mentoring is the Next “Manhattan Project” for small business development” Chambers are in a fight for relevance to the small business community. We are challenged by incubators, accelerators, economic gardening programs, peer to peer programming. Chambers have one distinct resource that no-one has direct access to…A consistent pool of potential Mentors

  5. How did we start? • Since the inception of the pilot program in 2009 we have graduated 14 protégés, produced over 90 new net jobs, and over $50 million in economic impact (Based on Sales by industry Type). • 2008 - Developed Pilot Program • 2010 - Official Launch • 2014 - We have 20 mentor protégé teams with combined revenues of $13,633,000 and 117 employees. We would like to see that number grow to between $17 million and $20 million in revenues. Would like to see 50 to 60 new jobs within two years.

  6. What do the Protégés get? • A qualitative analysis was conducted by professors from Harvard, Cal Poly, and Queens College on the Knoxville Chamber’s Mentor Protégé program. Formal research findings were presented to AOM (Academy of Management) conference in 2011 in San Antonio, Texas. Research also presented to IAMB (International Academy of Management & Business conference in Washington DC in 2013. • The research sited the key benefits of the mentor/protégé relationship from both the mentor’s and protégé’s perspective. Key themes sited by Protégés were: • Friendship • Role modeling • Support & Encouragement Mentoring Approach Coaching Technical Assistance Visionary Mentoring

  7. What do the Mentors get? • Mentors sited that they experienced: • New supplier relationship • Enhanced networks • Achievement of strategic/economic inclusion goals • Key themes sited by Mentors were: • Friendship • Personal Gratification • Reinforcement of Knowledge

  8. What Do Chambers Get? Chamber Annual ROI At 30 protégés: Membership revenue+ Non-Dues Revenue + Sponsorship Revenue: $36,000 Total Doug Minter dminter@knoxvillechamber.com 865-637-4550 Twitter:@wdminter

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