Business Incubator
What is Entrepreneur Incubation?
One of the more popular techniques globally for helping entrepreneurs and start-up business firms survive their early years to grow and prosper in their respective communities is the business incubator. The business incubator is a physical facility that provides various sizes of offices or office suites, shared board and meeting spaces, kitchen facilities, and a common reception area.
The incubator provides a receptionist to greet visitors and to assist tenants in using a shared copier, fax, scanner, audio-visual equipment and sometimes computers. The incubator manager assists tenants in preparing business plans, securing financing, business counseling and management advising. Tenants are expected to graduate from the incubator within a reasonable time frame to allow others to use the same services. The incubator recoups costs by charging reasonable lease rates and fees and by charging for the use of specialized services and equipment.
Why would a new business want to be located in a business incubator?
Most new businesses have a great deal of passion and strength in a specific area but generally lack experience in the basics of running a business and they often don’t have infrastructure (such as the fax machines and telephone systems), to make the business run efficiently. A business incubator gives these bold new companies structure, credibility, access to knowledge, infrastructure, and contacts that are necessary for the businesses to take root. According to US national statistics, 30% of incubator clients typically graduate each year. According to the results of a 1997 US ‘Impact of Incubator Investments Study’, 87% of incubator graduates are still in business five years later, while less than 25% of businesses that start outside of an incubator survive for that long.
No one can argue that the ultimate good of our communities and the national economy is served by developing viable new businesses that create jobs for the youth. If you are an entrepreneur, a business incubator can be a lifesaver - working with you in transforming your dream into reality, to launch and operate a successful small business.
Smart Business Solutions Incubation (SBSI) is prepared to support new and small businesses. Membership in the SBSI is, however, not limited to incubator managers, sponsors or developers; it is also extended to service providers, community organizations, local governments, economic development organizations and businesses that provide services to incubator tenants. Members discounted educational opportunities in addition to enjoying exceptional networking opportunities and access to an impressive store of knowledge on issues ranging from employment law to work-flow management. SBSI leans on the expertise of a range of members, with a rate structure designed to promote participation from professionals from all walks of life. SBSI gives you a one-stop, single location for information, referral and liaison services related to business in Egypt.
Established in August 2007, SBS shares information and develops programs that support the successful growth and operation of Entrepreneurs throughout the country.
As a member of the SBSI, you will reap the rewards of this fantastic networking and career-enhancing opportunity. Furthermore, you will enjoy reduced Consulting fees and access to incubator management training workshops on "best practices" and "facility management strategies."
What can we Offer?
We offer assurance to business owners through four pillars; Coaching, Mentoring, Education and Accountability. Each aspect is backed up by the best methodologies, resources and experience plays a relevant role in developing both you the Business owner and your business from initial conception through to sustainability. SBS strives to have a major impact on the small business sector in Egypt. Our Three distinct product options will give you the focus and effort in the required areas:
1- Creating Your New Business
The first phase of building a business is the foundation. The bigger a building structure the deeper and stronger the required foundation. A business is no different. This phase begins with the question of feasibility. Feasible: capable of being done, effected, or accomplished. This is the first hurdle any new business needs to face and overcome. Failure to complete this phase will always cost you in both time and money later in business. We ask and answer three specific questions to determine feasibility:
- Personal,
- Concept and
- Market.
Only once we are past this will we begin to tackle the next stage of developing your business: Plausibility. A business becomes Plausible or believable only once the business owner can stand and share their vision with confidence before strangers. This is reached through research and composition of a solid business plan together with associated tasks. A business plan is of utmost importance to any business as it determines a point of reference for all other activities and future growth.
We spend the right amount of time here getting it done and done well. Together with this plan we begin work on the Finance, Marketing and Collaboration plans that form the framework for further work later in the road map.
2- Business Growth
Growth requires effort and effort requires focus. Once a business is running it will consume all the resources, time, money and energy that it can with little or no return unless a system of measurement and management is in place to guide and lead it through milestones towards goals.
Once we have done some assessments and goals for both you and the business we begin to firm up the foundations before launching into development and growth. This gives us a greater understanding of how things are progressing, improving and growing.
Our set of both business and personal dashboards and assessment tools will give you a better way to identify what needs to be done where and how. Our growth roadmap covers training, finance, marketing, SOPs, labor, ROI, compliance and supply chain workflow. We will assist in the growth of your business in all aspects and functions.
Normally at this stage we open up our additional services to our members that include bookkeeping, labor, legal and marketing. These services are provided by associates at better than market comparison rates only through the Entrepreneur Incubator.
As we progress onto growth and development we look at bridging the gap between where you need to be and through reverse engineering and solid project management we begin to see movement in the right direction. This movement we convert into momentum and set in new behavior patterns and validated procedures.
Goals and actions are regularly reviewed with a chunk of accountability and encouragement. It is only when the Coach - Entrepreneur relationship is open and honest that growth is possible so we may clash heads on issues and have to speak our way through some rough terrain but it is always aimed at a positive outcome that is best for you and your business.
3- Leadership Coaching
Being a leader at the helm of a business is often a lonely and wild ride. It is essential that any leader has in place a number of support, foundation and expansion structures to enable them to have a positive influence on their environment. We understand leadership and have a huge number of tools, techniques and tips that will assist you to get from where you are to a place of confidence and influence.
We begin with a number of assessment tools to establish the quality of both your natural skills and the condition of the ground beneath your feet. Once we know this we can begin to map out a plan of action towards the place where you need to be. A firm set of goals, education, coaching and a chunk of accountability translates into transformation and results. We work with many different people at all levels of corporate, non-government organization, non-profits and small to medium businesses.
We understand that no man is an island and there are a number of essential people and services that need to be added to the mix at critical times to leverage maximum effect in the market place. For this we have established a team that is able to assist you with Marketing, PR, personal grooming, wardrobe and presentation skills. Any of these are optional but always available for you to use when required.
If you need that foot up in your place of influence and are willing to set aside comfort to gain growth, then let us meet for an initial chat and coffee to establish a way forward.
