The National Market Exchange - NMEX: Business Startup Center

Goldman Sachs 10,000 Small Businesses Initiative

Thu, 18 Sep 2014 09:06:17 -0400

The Goldman Sachs 10,000 Small Businesses Initiative program as implemented in various cities across America

New Opportunties in Detroit: Inaugural 10,000 Small Businesses Graduation

More than sixty Detroit and Southeast Michigan small business owners graduate from the 10,000 Small Businesses program, which aims to help entrepreneurs grow their businesses and create jobs

DETROIT, SEPTMBER 18, 2014 – Today more than 60 Detroit and Southeast Michigan small business owners graduated from the Goldman Sachs 10,000 Small Businesses initiative, which aims to help create jobs and economic growth by providing small business owners in the area with practical business education, business support services and access to capital. Goldman Sachs Chairman and CEO Lloyd Blankfein, Michigan Governor Rick Snyder, Detroit Mayor Mike Duggan, White House Senior Advisor Valerie Jarrett and 10,000 Small Businesses Advisory Council Co-Chairs Warren Buffett, Michael R. Bloomberg and Dr. Michael Porter attended the ceremony, congratulating the business owners on their growth that will contribute to the economic recovery in Detroit.

Goldman Sachs launched 10,000 Small Businesses in Detroit and Southeast Michigan in November 2013 and committed $20 million for small business loans, business education and grants for supporting community partners. The business owners who graduated today participated in over 100 hours of curriculum delivered across eleven sessions by a consortium of higher education institutions, made up of Macomb Community College, Oakland Community College and Wayne State University, studying a business and management curriculum designed by Babson College. The curriculum covered accounting, human resources, negotiation and marketing, among other topics. The program also included one-on-one business advising and accounting workshops.

“The growth of small businesses depends on strong local leadership, practical and effective education and access to capital,” said Lloyd C. Blankfein, Chairman and CEO of Goldman Sachs. “Thanks to the dedication of our local partners in 10,000 Small Businesses, today’s graduates are poised to grow their businesses and create jobs, contributing to the revival of Detroit’s economy.”

“Thriving small businesses are one key to accelerating the recovery of Detroit, the entire Southeast Michigan region and state,” said Michigan Governor Rick Snyder. “This Goldman Sachs investment and initiative are making – and will continue to make – a real, meaningful difference in helping keep that comeback going strong and generating more and better jobs, opportunities and possibilities for Detroiters and Michiganders. This is what public private partnerships and supporting innovation and entrepreneurial spirit are all about.”

“Small businesses are going to play an increasingly large role in Detroit's economy in the years ahead,” said Detroit Mayor Mike Duggan. “While a lot of attention usually is placed on the many new businesses that are opening in the city, the Goldman Sachs 10,000 Small Businesses program is providing more than 60 local businesses with a great opportunity to get to the next level. Today's graduation is a big milestone for the future of small businesses in Detroit and the region.”

“Small businesses and entrepreneurs represent the best of the American spirit, creating jobs, fueling innovation, and moving our economy forward,” said White House Senior Advisor Valerie Jarrett. “Initiatives like this have been critical in helping Detroit and other cities around the country bounce back. Investing in small business owners like today's graduates must continue to be an essential part of our strategy for building on our economy's recovery and ensuring long-term growth.”

“A thriving small business sector is critical to the health of both the local and national economy,” said Warren Buffett, 10,000 Small Businesses Advisory Council Co-Chair. “As we are seeing with the graduates in Detroit today, 10,000 Small Businesses is helping small business owners gain access to education and capital to take their businesses to the next level.”

“Goldman Sachs’ 10,000 Small Businesses program is helping to give entrepreneurs the tools they need to expand their businesses - and bring their city back,” said Michael R. Bloomberg, 10,000 Small Businesses Advisory Council Co-Chair. “Detroit - like New York City in the decades after the 1970s - can make a historic comeback, and these small business leaders will be at the heart of it.”

“The 10,000 Small Businesses program gives entrepreneurs the business education, tools and network they need to grow and create jobs,” said Dr. Michael Porter, Professor at Harvard Business School and 10,000 Small Businesses Advisory Council Co-Chair. “The growth in the small business sector in all U.S. communities is vital to the economic vitality in Detroit and in the United States overall.”

Goldman Sachs 10,000 Small Businesses is a $500 million program to unlock the growth and job-creation potential of 10,000 small businesses across the United States through greater access to business education, financial capital and business support services. The program is active in urban and rural communities across the United States. Sites include Chicago, Cleveland, Dallas, Detroit, Houston, Long Beach, Los Angeles, Miami, New Orleans, New York, Philadelphia and Salt Lake City, as well as a National Cohort at Babson College. Access to capital is also available in parts of seven states: Kentucky, Maine, Montana, Oregon, Tennessee, Virginia and Washington. Across the United States, initial results of the education program have shown that just six months after graduation, 64% of participants reported an increase in their revenues and 45% reported creating net new jobs. In addition, the program has a 99% graduation rate and 80% of graduates are doing some form of business with each other.

Goldman Sachs will provide loan funding to two intermediaries – Invest Detroit Foundation and Detroit Development Fund – which will use the capital to make loans to small business owners in the area. Each organization has over 15 years of experience providing capital and technical assistance to support small businesses and community development real estate projects. Invest Detroit Foundation will focus its lending to businesses in the core of Downtown Detroit, while Detroit Development Fund will focus its lending citywide.

To apply for the 10,000 Small Businesses business and management education program, please visit www.10ksbdetroit.com.

Mark Cuban's 12 Rules for Startups

Thu, 14 Aug 2014 07:02:12 -0400

Mark Cuban's 12 Rules for Startups

Basic Template - Business Startup

NMEX Aministration — Mon, 24 Feb 2014 08:33:25 -0500

This Basic Template for Business Startup provides the essential setup for most businesses operating in the modern digital era and global business environment.

Step 1.
Determine the product or service that will be provided, the location and the clientele that the business will serve and the competition in this space. You may need some market research depending on the size, complexity and financial exposure involved. Get the required business licenses needed for legal operation within the jurisdiction(s) the business will operate in.

For the purposes of this Template and the fact that most modern businesses now need a significant online presence we will utilize the concept of a business involved in the sale of used items to both an Internet based audience and a brick and mortar operation. We will call the Business "Used Item Sales" (UIS) and assume that UIS has an adequate source and method of obtaining the products it will be selling.

Step 2.
To go with the modern trend of having a significant Internet sales and promotional presence and to limit the need for extensive brick & mortar capitalization UIS will first setup an interactive functional web presence where it can display and promote its products and provide an ecommerce platform for the sales of the products. UIS can build its own custom website or use one of many Online options including the NMEX platform to host its online business operations. Building and maintaining a custom website can cost thousands of dollars and for major businesses millions of dollars. However UIS accomplishes the step of establishing an interactive functional web presence it is a priority in modern business. It must be carefully noted that social network fan pages such as Facebook is not what we are suggesting to use as your primary business web presence. A real website with formatting, functions, Search Engine Optimization, Internet Marketing capacity, under your control, and dedicated to your purposes is essential.

Step 3.
Next is establishment of an effective Internet marketing program. Today without effective Internet marketing any business will have a tough time with the competition, wading through the rest and keeping up with the best. There are many ways to do this, much of which can be done inhouse if UIS will have the time and expertise, otherwise it will be beneficial to spend some funds on this aspect of the new operations. Beware of so called "Social Network" based marketers and look for true Internet marketing experts who utilize all of the Internet marketing processes including extremely specialized techniques of tapping into the highly vulnerable base of users on Social Networks. Paid advertising is also an important element in your marketing campaign. Remember that the hallmark of marketing campaigns is to get your promotional material, products and services in front of any and every potential customer. In other words as many places on the Internet that you can post or present your products the better, the more the merrier. An Online marketplace like NMEX which provides tremendous backend Internet marketing options and support are highly beneficial.

Step 4.
An important element of Internet marketing especially for ecommerce based operators such as UIS is effective use of Affiliate Marketing Networks such as ClickBank, RapBank and others. These Affiliate Marketing Networks provide access to resellers who will sell UIS products through their websites and Internet marketing efforts for a commission. Affiliate Marketing Networks supply State of the Art built in technologies which UIS will benefit from without expending the significant amounts that would be needed to privately customize its own operations. NMEX provides similar technologies for its users.