Project Name:
CEO - Creative Earning Options
Funder:
US Dept. of Health and Human Services - Office of Community Services
JOLI Grant (Jobs for Low Income People)
Project timeline:
December 2004 to June 2006 (17 months)
Project Description:
Demonstration project to determine the efficacy of supportive services on survival and economic success of home-based and small businesses.
Project assumptions:
- Persons starting home-based and small business do not have the same supportive services as unemployed persons seeking traditional employment. For many low-income individuals self-employment is the most appropriate choice as a path to self-sufficiency.
- It is cost effective for the workforce development system to invest in the technology and training to allow productive work to be conducted from an individual's home.
- There are sufficient low-income persons with work barriers that have the aptitude and capacity for entrepreneurial enterprise and could begin and manage a home-based or small business.
- Businesses and organizations will realize cost savings by out-sourcing certain products or services to self-employed individuals working from home.
- There are sufficient out-source opportunities that are both appropriate to this process and will create earning opportunities on par with a full time job at a traditional worksite.
Why this approach is different and why it was funded:
Micro and small business generate the greatest number of new jobs in the US. However, small business startup is difficult and the survival rate is low. The CEO plan is a well articulated, strategic approach to provide business assistance, low-interest capital, training and on-going one-on-one supportive services to low income persons wishing to engage in self-employment.
Ideal CEO participants:
- Meet CEO low income designation - 100% of Federal Poverty rate
- Would like to start a business or be self-employed
- Have a product or service that has been determined to have "market demand"
- Have skills appropriate to out-sourcing activity - see sample list below
- Make a commitment to attend a two-day Business Boot Camp prior to enrolling in the project
- (If participant opts to continue), work with project staff to develop an individual business development plan with mutually agreed upon milestones and accomplishments
Services for enrolled participants may include:
Low interest business loans; leads and connections to businesses and out-sourced services; supportive services to include: business plan development, marketing, customer satisfaction, production and capacity support, creative sales outlets, e-marketing, and generation of appropriate out-sourced work products; networking and peer-to-peer support.
CEO Resource list for referrals of participants
Click to read the Directory
Personal Characteristics and Life Circumstances Important for Entrepreneurial Success:
- Goal-setting: ability to set goals and hold self accountable to goals
- Intensity of focus: ability to stay on task
- Ability to plan and to follow through on those plans
- Ability to assess one's own capacity and actions
- Self-starter with high tolerance for risk taking
- Strong organizational skills
- Sense of humor
A successful entrepreneur will likely:
- Have done research on the market demand for their product and/or service
- Have a clearly defined business idea
- Have access to a telephone, fax and computer
- Have a place to live, child-care, and a bank account
- Have experience and knowledge in the field/business endeavor
On-line, self-employment check list:
http://www.mazemaster.on.ca/selfemployment/traits.htm
Sample of out-sourced skills/products/tasks:
- Human Resources - hiring personnel, conducting job performance evaluations, doing reference checks
- Conducting surveys by phone
- Scheduling workers for 24/7 shifts
- Phone answering services: after hour service for MD's, veterinarians, etc
- Grant writing
- Internet Research
- Information Systems trouble shooting
- Competitive price research (shopping for the best price)
- Writing newsletters, compiling publications
- Data Entry and transcription services
- Telemarketing/pre-screening for sales calls
- Bookkeeping, payroll, and tax work
- Bulk Mailing preparation
- Medical and health insurance data entry
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