We have been planning for months.
Companies have been lining up to participate.
Anticipation has been building.
And all the waiting was worth it.
Last week saw the launch of Small-biz.XLR8 – a first of its kind small business accelerator combining the power of peer cohorts and mentor support with the flexibility of a virtual learning platform. Through a generous gift from the Truist Charitable Fund – Truist Cares, the IC² Institute at The University of Texas at Austin and The University of Texas Permian Basin launched this new accelerator to promote small business success in the Permian Basin. From almost 50 company applications, 17 companies were chosen for this first cohort, each fit the program goals and were ready to grow!
The first training session was held Tuesday afternoon with excellent participation by all business owners. Owners reported how their customers defined market problems they seek to solve – ranging from white-glove shipment delivery, vehicle modifications, unique culinary offerings, tech-mediated communication to in-person services. Using this customer-centric perspective, owners built value propositions – how they provide a meaningful solution addressing the target market problem and why this solution is superior to the competition.
Value propositions were presented Thursday night at our first Mentor Session at the Red Oak Kitchen in Odessa, TX. Mentors listened, asked questions and advised business owners regarding fitting value propositions to new business growth strategies. It was a evening where new relationships were built, business strategies were re-thought, libations were enjoyed and the IC2 Gnome was present linking the institute’s best practices for business growth, defined through work since 1977, to this new program.
To learn more about Small-biz.XLR8, visit our website, check out the experiences of companies who have previously participated in the program in Austin on the Success Stories page of our website, and read more about the program in our blogs. Be on the lookout for more stories as Small-biz.XLR8 businesses build new growth strategies, partnerships and market relationships.