Business owners, you've survived those adrenaline-fueled startup days. You're established and enjoying some success.
But there still are major hurdles on the horizon. How will you sustain what you've built and grow?
For a select group of businesses at that crossroads, Anoka County is offering 50 hours of free consulting and other services. Consultants will review business plans and growth strategies, help prioritize sales leads, and develop a bold online presence.
The county has teamed up with the Edward Lowe Foundation to launch an "economic gardening" program designed to help businesses grow. Edward Lowe, a native of St. Paul who went on to become a Michigan entrepreneur, invented kitty litter and created a new industry that now generates $2 billion in annual U.S. sales. Lowe realized that second-stage was where he struggled the most and set up his foundation to help other businesses at that juncture. The foundation partners with a Colorado businessman who developed the economic gardening model.
"For midsized businesses, there are no programs out there," said Karen Skepper, Anoka County director of community and governmental relations. "They are making money now, and it's hard to find a program to go to that next level."
The "grow from within" strategy targeting existing businesses is a fresh approach for cities and counties, often focused on courting new and outside businesses, Skepper said.
The county has selected its first class of 15 businesses, and it is spending $150,000 on the program and hopes to spur economic growth and foster a fierce loyalty among participating businesses.
John LeTourneau, director of manufacturing for the Anoka Area Chamber of Commerce, recruited businesses for the economic gardening program.