From Advising CEOs to Assisting Small Businesses, How This Local Business’ Programs are Moving Companies Forward

Knowing when it’s time to take your business to the next level can be tricky. That’s why the Southern Missouri Innovation Network, a collaborative partnership between efactory and codefi, has developed two programs designed for small business owners, aspiring entrepreneurs and CEOs to help build their network and connect with community resources. 

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efactory is Missouri State University’s Center for Business & Economic Development, and it provides nationally recognized programs directly accelerating business creation, innovation and growth. The Early-Stage Business Boot Camp provides participants with valuable resources and insights to advance their entrepreneurial journey, while the Elevate program equips business owners with essential skills for enhancing their operations and competitiveness in the market. Read on to dig deeper and find out which program is best for you. 

Early-Stage Business Boot Camp

The Early-Stage Business Boot Camp is designed to provide participants with expert guidance and support. Participants will build their network, connect to resources in the region, hear from entrepreneurs and guest speakers, formulate plans and explore relevant business topics. Each week covers a different topic, like:

• Available business resources 
• Market research and analysis
• Market identification and sales
• Financial management and projections
• Marketing channels and reaching customer segments
• Building and compensating your team; hiring and managing employees
• Accessing capital—types and sources
• Positioning your business for growth

The Early-Stage Business Boot Camps are led by business consultants and specialists from the Missouri Small Business Development Center at MSU, along with local experts in their respective fields. “The feedback from our boot camp participants has been remarkable,” says Regional Business Consultant Amy Jackson. “The insights they gain equip them with the confidence to develop their business plans and know the steps needed to realize business success.”

Who this program is for: Small business owners and aspiring entrepreneurs. 

How to get involved: ​​Find a cohort in your area at efactory.missouristate.edu/bootcamp and register. 

Cost: Thanks to grant funding for Southern Missouri Innovation Network (Innovate SOMO)—efactory’s partnership with codefi—the Early-Stage Business Boot Camp is free to all participants. 

Take this quiz to find out if the Early-Stage Business Boot Camp is for you 

Elevate

The Elevate program is a hidden gem. Over the course of six months, participants will gain skills in recruiting, retaining and developing talented employees. They will also learn financial management, supply chain and operations best practices, export preparation, how to explore new markets, create prospect lists, analyze competitors and improve sales and marketing processes. It is designed for businesses scaling in employee size and revenue, providing guidance to help grow sales and achieve higher profits. 

Elevate includes two concurrent elements, the first being a series of meetings with two to four experts over an eight- to 12-week period to address business growth needs. The second element facilitates peer learning through six monthly virtual CEO roundtables. Both elements are facilitated by the Edward Lowe Foundation. “We are just wrapping up our first Elevate cohort under Innovate SOMO,” says Regional Business Consultant Lance Coffman. “So far, our participants are sharing that Elevate has provided the inspiration for needed change and set their business up for future growth.”

Who this program is for: Participants must be the owner or CEO of a privately held company, employing 10 to 100 full-time equivalent employees and reporting annual revenue of $1-50 million.

How to get involved: Apply at efactory.missouristate.edu/elevate or schedule a meeting with one of efactory’s business consultants to discuss the program more.

Cost: This program is free thanks to grant funding and Innovate SOMO. 

Take this quiz to find out if Elevate is for you.