Grow your business through strategic actions…make decisions…identify obstacles…take actions.
GrowthWheel® is a tool for decision-making in start-up and growth companies. It helps entrepreneurs and advisors get focus, set agenda, and take next steps.
Business consultants at both EIGERlab and the Small Business Development Center have a new tool to assist entrepreneurs in any stage of business. GrowthWheel (GW), a visual toolkit, assists both new and existing entrepreneurs by building their businesses through a simple action-oriented process, determining which areas require their immediate focus. GW is outcome oriented: Make Decisions, Take Action.
What is Growth Wheel?
- An alternative to the conventional business plan.
- A better way to support the decision making and action-planning that take place in all companies every day.
- A visual toolkit for dialogue, decision-making and action planning.
- It helps entrepreneurs build their businesses through a simple action oriented process.
- Stays true to the way most entrepreneurs think and work.
- Helps companies determine which areas to focus on to strengthen and grow.
- A way to establish a sense of community of people and resources around the business.
Who do we serve?
We offer advising services to all business professionals, in all industries and in whatever stage of business they are in. We have resources to help, whether it be for a new business venture or for a growing company that is struggling in a certain area. All businesses face four basic challenges; Attractive Business Concept, Strong Organization, Lasting Customer Relations, and Profitable Operations. We have the tools to determine what areas need to be focused on and addressed.
Entrepreneurs are individuals who see a need and are ready to take the initiative to turn their idea into a reality.
Start-Up Businesses are new businesses that are in the first three years of their lifecycle.
Growth Businesses have been operational for more than three years and are ready to take their business to the next level.
The core message of GrowthWheel is to find the single most important areas and focus on them first. Through analysis, planning, strategy and goals, the results received when utilizing the GW tools are decisions, actions, directions and milestones. EIGERlab recently incorporated GW into its day long Stateline FastPitch World Series workshop which included the winners from three competitions held in Illinois and Wisconsin. Paul Niedermann, owner of Prescient Audio, shared, “I enjoyed this year’s FastPitch World Series and the GrowthWheel training sessions that help us see clearly where we need assistance with growth and what to focus on.”
As an alternative to writing a business plan, the GW tools are far less daunting. The process is broken down into much more palatable sections: business concept, customer relations, organization and operations. Counselors like its holistic 360° perspective, covered by its 20 focus areas. Brian McMahon, SBDC counselor and former director of finance for the Metro Centre, shared, “Thanks again for the GrowthWheel. Most practical/valuable analysis I’ve taken in years; immediate applications.”
The following testimonial was shared by GW counselor, Ted Baker, “I have advised entrepreneurs for many years, and often the advisory sessions were geared towards the business plan. When bringing it up, the entrepreneurs would get this tired expression on their face. Entrepreneurs are such creative people, and they love what they are doing – but I find that sometimes all the paper work that comes with the business plan kills their spirit a little bit. So when I first heard about GrowthWheel, it immediately resonated with me. GrowthWheel makes it easy to extract what’s important for the entrepreneur right now – and it doesn’t eliminate the need for planning. Instead, it gives you an easy system, an organized way to plan. Basically, it’s a planning tool that works.”
Whether you are a start-up who would like to fast-track your company or someone who has an established business and would like to grow, GW is a tool you should seriously consider utilizing.
NIU EIGERlab | 815.753.2192