In an effort to improve the structure and core processes of our business, MONA Solutions participated in the Goldman Sachs 10,000 Small Businesses Program (GS10kSB). As one of the biggest global initiatives designed to help small businesses, we were honored to benefit from the more than $500 million the GS10kSB has pledged towards support and training.

Here’s how this program works and why it can provide a great amount of value to any business.

What Is the GS10kSB?

The main purpose of the GS10kSB program is to help established small businesses and social enterprises reach the next level of expansion. The program provides businesses with one-on-one expert support and all the training necessary for entrepreneurial learning.

As the name implies, the program is funded by the Goldman Sachs Foundation. It’s developed and delivered by industry experts, ensuring that each business will receive practical, high-quality support at no cost. Recent studies show that attending this program is likely to help a business grow by 15%-50%.

The GS10kSB gives businesses over 100 hours of practical, high-quality management and business education. This content is delivered over 12 curriculum sessions, each of which focuses on different business challenges and disciplines ranging from sales and marketing to operational advice.

The Key Benefits of GS10kSB

So, what does all of the above mean for a business in particular? Simple:  access to comprehensive business advice from industry experts who understand how small businesses operate.

According to needs, participants are also able to take advantage of 10 optional workshops. All of these sessions and workshops have a singular purpose: helping the participant to develop the practical skills needed to grow a business. Each session features action-based lessons, so everything learned can be applied to a business right away.

Graduates from the program get assigned an expert mentor. The mentor will work with the graduate to help maintain and accelerate business growth. Graduates can also participate in alumni offerings such as seminars, workshops, and networking events. All of these help build a broader community network, a must-have for any small business owner.

Even though we felt our company was already doing well with many of the topics covered in the program, the GS10kSB has helped in deepening our knowledge of these topics. We have gained a new perspective on some areas of our company that require additional focus to support business growth.

Over the course of the program, we discovered that the processes we had in place were more of a checklist that reminded us of how to do things. In areas where we had no processes at all, they helped to address each instance as needed. The GS10kSB was a powerful resource that allowed us to see areas in our business that could be improved.

In essence, the GS10kSB is a classic example of a “pay it forward” program. By taking part in it, we were able to gain invaluable knowledge that we will continue to use to improve our company for the long haul. We can say with confidence that we are a better organization for having participated in the Sachs 10,000 Small Businesses Program.