Business School 4 All
Business School 4 All provides FREE access to training, mentorship, and an entrepreneur network without the requirement of going into debt and going back to school. Our revolutionary approach overcomes the systemic economic, racial, and social inequities which block many BIPOC and women-led businesses from launching and succeeding. Our program provides the framework to take an innovative business idea from conception, to testing, to MVP all while working a 9-5. We level the playing field to start, launch, & grow world-changing businesses in LA.
What is the primary issue area that your application will impact?
BIPOC- and Women-Owned Businesses
In which areas of Los Angeles will you be directly working?
In what stage of innovation is this project, program, or initiative?
Expand existing project, program, or initiative
What is your understanding of the issue that you are seeking to address?
A traditional business education starts with a Bachelor’s in Business Administration and culminates with an MBA. The average cost of this traditional route to entrepreneurship will total $260,000. MBA programs continue to lack diverse representation in student enrollment with only 9.4% Hispanic students, 8% Black students, and 41% female students which perpetuates the impact of institutionalized racism in business education. For many BIPOC or women, obtaining an MBA comes with debilitating debt, and a lack of representation and support while sacrificing several years of one's life. Getting an MBA is also unattainable for 66.5% of the Los Angeles population without a college degree. We believe that the basics of business school should be accessible to everyone and in particular those without a college education. With a culturally aligned network of professionals to help guide them from idea to launch, our students will create ideas that solve the most pressing issues we face in LA.
Describe the project, program, or initiative this grant will support to address the issue.
Business School 4 All provides the most essential teachings of business school to the masses, including the working poor and those without a college education. Every day community members will apply to be a participant in our cohort. Cohort members will be selected based on business concepts that provide positive and significant social impact, end generational poverty for BIPOC households and close the racial wealth gap. We will initially focus on the South LA community with an emphasis on BIPOC and women-led aspiring and early-stage business owners. Once selected they will enter into a Business Bootcamp and be provided with coaching, mentorship, resources, and networking events. Upon completion, they will advance to the next level of programming as part of our alumni network and attain opportunities to begin building their brand through speaking, writing, teaching, and collaborations. With a focus on social enterprise business ideas, our cohort members will create a "Business with a Mission." Our Revolutionary Business Model signature framework emphasizes the importance of creating not just any business, but one to solve a pressing social issue. Our model teaches that businesses with social missions are able to garner crucial support from the community which leads to sustainability and greater impact. GOALS: - New Businesses Formed - Culturally Aligned Ecosystem of Support Developed - Social Issues Solved - Revolutionary Business Model Further Codified - Massive Impact
Describe how Los Angeles County will be different if your work is successful.
In our vision of success, we will be a catalyst for opportunity, transforming the economic empowerment landscape offering entry into education that can create generational wealth and end poverty. Graduates will launch their businesses, provide strategies for positive social change, drive economic mobility, begin to employ others, and build an ecosystem of BIPOC and women-led businesses. Their solutions will level the playing field and break open barriers for others to become small business owners and not just survive but thrive. Graduates will serve as role models and empower the community to follow in their footsteps and find ways to help make Los Angeles the best city in the nation. The program expects to transform the economic ecosystem and business landscape of South LA. Our intention is to further codify our Revolutionary Business Model to be shared, taught, and implemented throughout the rest of Los Angeles County, specifically in lower-income communities of color.
What evidence do you have that this project, program, or initiative is or will be successful, and how will you define and measure success?
Success will be measured in the following ways: 1. Open rate and completion of the course curriculum. 2. Attendance and engagement in coaching calls. 3. The number of new business ideas formed. 4. The number of new businesses launched. 5. The post-program assessments. 6. Alumni testimonials and referrals. These metrics are important because they demonstrate engagement, completion of course curriculum, attainment of the program goals, codify the hypothesis, and provide valuable feedback regarding the experience of the participant and their ultimate outcome.
Approximately how many people will be impacted by this project, program, or initiative?
Direct Impact: 100
Indirect Impact: 1,000