In late 2017, NMCC kicked off Financial Business Basics which originated to assist Native American families. We are currently seeking funds to increase our reach and capacity.
Our FBB program is designed to build a solid foundation to form and grow business ideas with a personal financial plan for success. Participants will learn tools to effectively conceptualize, plan and implement their financial goals and business ideas through hands-on learning experiences with a community of peers and mentors.
Our instructors will share foundational financial and business concepts including creating a house budget and saving goals, methods to eliminate debt, developing a “pitch deck” to promote a business or service idea, cash flow projections, and marketing your mission. After 15 hours of engaging course work with hands-on assignments, the cohort will celebrate their completion with a community of entrepreneurs and mentors. They also will have an opportunity to present their business and get feedback to refine their idea.
The Financial and Business Basics training modules feature work products that participants will either complete during the workshop or complete with individual assistance from a Native mentor. These work products include a household budget, a personal debt/savings plan, and a business pitch delivered to/critiqued by peers.
Our work began in 2018 on a Pueblo in New Mexico and will continue there in Western and Central New Mexico in 2019. In 2020, we plan to spread out to U.S. tribal communities in the Midwest. If you are interested in hosting NMCC for this work in the future, please send an email to our Program Manager, Henry Jake Foreman at firstname.lastname@example.org.
Studies have shown that small business owners and entrepreneurs are more successful when they are in a well-supported and supportive network. We actively support our participants through a facilitated network.
This Community of Practice Network, for all graduates and current participants of the Native Entrepreneur in Residence (NEIR) program, provides regular networking, needs assessments, and gatherings that help to foster sharing of best business practices and deepen relationships. Our gatherings and events are a forum for the exchange of ideas, information, and ongoing business leadership development. Facilitators of the Community of Practice are both NEIR program leaders – one a graduate and the other a mentor in the program – who are seasoned facilitators and design engaging events and gatherings based on input from participants to best serve the Network.
60% of NEIR graduates are women, from many different communities. A number of these women have organized to produce a series of events and development of an organization specifically geared to the needs of current and future Native Women Business Owners. NMCC is proud to be a partner and sponsor in supporting this important effort.
For more information about the Native Women’s Business Summit and Native Women Lead, go to https://www.nativewomenlead.org