Our flagship program is a 6-week Training and Coaching Program, giving Hispanic/Latino Entrepreneurs and Small Business owners a solid base to:

  1. Overcome cultural barriers affecting their business' performance and Sustainability
  2. Understand the rules of doing business in the USA
  3. Prepare successfully to access capital when launching/growing business

On 18 hours of instruction and 9 hours of 1-on-1 coaching, participants recognize the impact of cultural elements on main areas of the business such as Mindset, Finances, Business Strategy, Marketing, Sales and Operations.

The curriculum is built on Systems Approach, Positive Discipline and Emotional Intelligence principles; each 3-hours session brings forward a cultural contrast in a specific business area, best practices to adopt, and tools to apply the new concept once the session is finished. That week they have

1.5 hours a week to meet their coach and ask particular questions on the implementation of changes to their process.

Participants get a “map” for building a business and a “must have” business checklist of to-do’s based on the cultural background of Hispanic/Latino immigrants.

We deliver inSpanish or English, both online and in person.

In supporting home-based businesses and micro-entrepreneurs to grow at least 10,000 usd in revenue within one year after receiving the program, and have them prepare to achieve “ loan-ready” status, we help achieve economic equity for minority communities, and support underserved and underrepresented entrepreneurs. By leveling historic barriers to minority entrepreneurs bringing their ideas to the market, building and growing their businesses, we break the cycles of generational poverty, change the trajectory for minority families, and strengthen the entire community that surrounds that entrepreneur through job creation and economic vitality. That is HEI’s goal as we help them understand and navigate the business environment in the USA.

 

Purpose

To catapult entrepreneurs and small business owners from traditionally underserved populations, to the creation of sustainable businesses: Hispanic/Latino - Immigrants - MicroEntrepreneur - Women, and the intersection of these populations, also particularly hit by the COVID-19 pandemic. In turn, fostering economic prosperity in Palm Beach and Broward Counties.

 

Problem

The cultural element is vastly underrated and overlooked as the determining factor of success for an immigrant making business in the US: when there is an awareness of it, it is an asset; when ignored, it is a liability. Certain aspects of Latino culture are an ingrained hindrance if they are not properly identified and addressed. We found no business bootcamp, accelerator or incubator program in South Florida has been addressing the cultural element for small business owners, immigrants of Hispanic/Latino origin, reducing further their probability of surviving and thriving as entrepreneurs. We address this problem with the Hispanic Business Incubator Program.

 

Description of the Program

The Hispanic Business Incubator program is an In-Person, Instructor-Led Training and Mentoring Program, strongly rooted on business acculturation for Hispanic and Latino immigrants establishing a business in the USA. The program will take them through the “Ideation” stage, and get them prepared to enter the “Validation” stage after a formal induction into the American business culture. The main goals of the program are: 

  1. a) Expose the entrepreneur and business owner to “the rules of the game” that are not explicitly communicated to immigrants
  2. b) Clearly contrast the general and specific aspects of the Hispanic and American culture that could eventually become a weakness / threat to the entrepreneur/business owner in 5 main areas of the business
  3. c) Draft a business model for their idea or initiative

 

The program consist of:

18 Hours of Facilitated content in six areas of Mindset, Finances, Operations, Sales, Marketing and Business Strategy

9 hours of one-on-one mentoring per participant to support the creation of their main documents (*)

The “Participant Guide” printed workbook, in Spanish

Business Assessment at the beginning and end of the Program

Session Evaluation Forms

Certificate of Culmination

 

Goal for participants

The goal is for them to create/refine a business model canvas, and initiate the work on their financial forecast to estimate Operational Cost, Revenue, Profits and break even point for entrepreneurs.

 

Program’s KPI

- # of trained business owners

- % of participants with a Corporate Entity

- % of participants with a  Business Model

- % of Attrition

 

Goal for the program

40 trained Hispanic Business Owners and Entrepreneurs in FY2022

- 70%+ participants have a corporate entity registered in sunbiz

- 70% +of participants have a business model drafted

- 5% attrition

- Ready-Status of Entrepreneur to participate in Entrepreneur Bootcamp (**)

 

Outreach and Impact

The project could include a targeted promotion, outreach and awareness campaign among the 30,000+ Hispanics/Latinos living in the Boca Raton / Delray Beach / Boynton Beach, aiming to reach at least 50% of such population and fully engage 0.15% of them in our training program. If 45 Hispanic/Latino entrepreneurs and small business owners could create or increase at least 15,000 USD in additional revenue within one year of receiving the training, the Southern region of Palm Beach Co would be benefiting from a 5X return factor within one year.

 

Size of Cohort

The "Hispanic Business Incubator" runs optimally with cohorts of 12 to 20 participants per 6 weeks. All participants will be evaluated before and after their partaking  in the program on a set of qualitative and quantitative financial and business indicators. They will also be surveyed through their participation in the different sessions. 

 

Language

All the learning materials, evaluations, assessments, training sessions and direct assistance/ mentoring sessions will be in Spanish.

 

Total hours of instruction

Each participant will receive 18 Hours of formal, facilitated instruction and 9 hours of one-on-one direct assistance with a designated mentor(*); they will initiate drafts of real life documents (deliverables) that will either increase their odds of a successful application for a Small Business Loan, or clearly impact at least one of their financial and business indicators. 

 

Registration requirements

The requirements would be having at least a formal idea for a business, and some experience in the sector/industry of the desired endeavor. At the end of the instructional time, all business owners will pitch their value proposition, and be evaluated by a panel of experts.