FAQ: What Did You Get Out of the FastTrac Growth Venture Program?
As part of former Mayor Michael Bloomberg’s NYC Business Solutions initiatives, the Kauffman Foundation‘s FastTrac Growth Venture program is offered for free at the State University of New York’s (“SUNY”) Levin Institute in Manhattan. I completed the program in September 2011 and was interviewed for the August 2013 Success Stories. Below is the profile I submitted.
Business Type: Law and Mediation firm with educational and coaching products
Short Business Description and/or Company Mission: We are a holistic law firm that provides law, business and conflict resolution counsel to businesses in high-risk situations due to industry, size or experience. Imagine leaving your attorneys’ office more informed, empowered and inspired to resolve any conflict that arises in your business or your life. That is the experience we create for our clients, whether they are in litigation or trying to avoid it.
City, State: New York, NY
Number of Employees: 2 (not including me)
2012 Revenue: $160K
How do you advertise? Website, FaceBook, Avvo, LinkedIn, Twitter, Eventbrite, events, networking, etc.
What year did you complete FastTrac? 2011
How long after graduation from FastTrac did you establish your business? Already in business for 8 years at that time
How long have you been in business? 10
What made you choose to participate in a FastTrac program? I wanted to be a more powerful, focused leader who could generate greater profits and work-life balance. I was also exploring the possibility of closing my law practice and selling something else.
What specific content from FastTrac helped you the most with your business? Understanding financial reports and other performance indicators, identifying target markets and conducting market research
What tangible results/improvements have you experienced as a result of taking a FastTrac course? I have hired two employees committed to my vision (one full-time attorney and one brand management intern). I have developed an Operations Manual, better intake forms, and better processes for hiring and evaluating vendors and client. I replaced my expensive, non-responsive bookkeeper with a more affordable one who is my champion. I continue to seek the right accountant for me, but I have a much more effective process for evaluating and hiring one. I was a finalist in the Urban Rebound/Count Me In Pitch Competition, have increased my speaking and teaching opportunities, submitted my Women Business Enterprise (“WBE”) certification application, and am finally seeing an increase in the work I really love to do.
If you were to recommend us to a colleague, friend, or business associate, how would you describe the way FastTrac helped you achieve your goals? FastTrac transformed me from the only employee in my business to a powerful leader of a growing enterprise. I gained insight, skills and confidence that have improved my cash flow, my work satisfaction, my team, my clientele, and my opportunities. I still use the manual/workbook on a regular basis, and each time I review it, I discover another small tweak that improves my effectiveness. I also keep in touch with some of my classmates and finally have a support system that understands the unique lifestyle of an entrepreneur. Plus, I often get to revisit the program when I teach the legal portion of the course. The program was intense, but it was completely worth my time and effort. I am definitely seeing results!