An Exercise in Eliminating Assumptions: The Real Impact of the ISBDC
by Jacob Schpok – State Director
Every day we help entrepreneurs explain their business strategies to potential investors by helping them eliminate assumptions in their business plans. We owe it to them and our own investors to practice what we preach. Below is proof the ISBDC not only helps businesses in Indiana but does so with a positive return on investment. Entrepreneurs, give us a piece of your mind. Comment below and tell us if this is defendable data.
Can the ISBDC prove the impact they report?
White papers and complex statistical analysis is not needed to defend our results. The ISBDC has a two step process in collecting the data we report. First, we ask our client for change in sales, capital, jobs, and business status (if they launched, purchased, or sold a business) 30 and 90 days after we start working with them and again at the end of the year. Second, clients reporting changes are asked if the ISBDC helped in creating the change. Before we count the impact, we require a hard or digital signature from clients confirming the ISBDC helped in creating the change. In other words, behind every impact number we report there are business owners validating our contribution.
How much does it cost to run the ISBDC and is it worth the money?
In 2011, the ISBDC operated on a $3.3 million budget. If all we measured was how much capital we helped clients raise, every dollar spent on the ISBDC would count towards $16 of new investments. In reality, we stretch our $3.3 million further. Take a look at how else we directly impacted Indiana businesses.
The ISBDC Impact in 2011
|ISBDC Budget||Business Starts||Jobs Created||Jobs Retained||Change in Sales||Capital Infusion|
Are we doing all we can to provide stakeholders with straight forward, factual, and impactful numbers? Tell us what you think. We look forward to reading your thoughts.
Want to meet some of our clients? Over 100 business owners are ready to share their experience with you on our client stories page. To become a client of the ISBDC complete our intake survey. To learn how your organization or business can help support the ISBDC and grow our efforts, click here to email Jacob Schpok, ISBDC State Director.