SBI Emerging Businesses
From start up to maturity, companies pass through several developmental phases. We start with the classic napkin-on-the-kitchen -table phase where we hatch the entrepreneurial idea, to the company reaching maturity with a fully staffed professional management team in place.
First, we enter the start-up phase where we initially fund the project and recruit our first clients. Shortly after that, we begin to add employees. Although the company is growing, it is still being driven by the abilities of the owner. The employees are mainly helping the owner do more, but not to operate independently. Traditionally, the business grows to the point of the owner’s span of control. Then growth slows or stops.
The business is on the door step of being what is called a Stage Two business, which is when the business is bigger than what one person can manage, but is not big enough to support a fully functioning management team. This stage begins for most businesses when they build revenue to about $1 million and continue till revenue passes $50 million. At that point, the business enters the third phase of its life as a professionally managed mature company.
Helping businesses to reach Stage Two and growing through to maturity is a major initiative of SBI Emerging Businesses. While the SBI Owners Council’s vision is to help owners of stage two businesses develop their companies to maturity, SBI Emerging Businesses is to help businesses reach stage two for they can have rapid growth and impact the community.
Do you have questions? We have answers.
Who can join SBI Emerging Businesses?
To qualify for membership, applicants must own 10% or more of a privately held business with annual gross revenue between $200,000 and $1 million in the last fiscal year. We serve a broad range of companies: financial, retail, legal, industrial, and more. Business owners must also be striving to reach the $1 million milestone with their business. If you are making $750,000 a year in gross revenue and are happy with that income, we are happy for you, but maybe SBI Emerging Business isn’t the right fit for you.
I live on the Peninsula. Can I still join in?
Yes! SBI Emerging Businesses is dedicated to serving the small business community of Hampton Roads both on the Southside and the Peninsula. We make it a priority to host monthly lunches and networking events in convenient locations for our entire membership.
How much does it cost?
Membership cost is $500 annually.
What’s in it for me?
SBI Emerging Businesses proudly provides a repertoire of member-only services that correspond with the Million Dollar Milestone. Not only will we offer educational forums, planning retreats, peer advisory, and social events, but host monthly Milestone Marks that will help you reach the next stage of your business. By becoming a EB member, you will immerse yourself in group of highly motivated and successful entrepreneurs and business leaders. Once you hit the $1 million milestone and “graduate out” of the SBI Emerging Businesses requirements, you may then enter the SBI Owners Council.
I meet the requirements, how do I apply?
Simply fill out the membership application by clicking here, then send it in to the address listed. If you have any questions regarding membership, contact Art Radtke at smallbusinessinsight (at) gmail (dot) com.
Source: Growing Pains: Transitioning from an Entrepreneurship to a Professionally Managed Firm, by Eric Flamholtz and Yvonne Randle, revised ed. (Jossey-Bass, 2000), 9-10, 33. This paper makes heavy use of Chapter 2 of Growing Pains. Flamholtz and Randle identify seven stages: New venture, expansion, professionalization, consolidation, diversification, integration, and decline and revitalization. Here we compress their stages 2 and 3 into a single second stage, and treat their stages 4-7 as a single third stage.
