MEDC Offers Services of Business Coach

by Lorri Sughroue, City Editor

McCook Daily Gazette

04.26.08-
A new service offered at the McCook Economic Development Corp. will help fledgling and existing businesses expand and grow. Sue Shaner has been hired by the MEDC as the new business coach. The position is funded by a $60,000 grant by the Nebraska Department of Economic Development awarded to the MEDC and Cambridge.

Rex Nelson, executive director of the MEDC, said the grant will also be used toward youth activities and the Edge program, a rural entrepreneurial training plan. Nelson described the business coach position as one that will help businesses take advantage of programs available or to identify areas of growth. "It's a new concept and a new program," he said. "Some new businesses don't need a lot of help, but for others, Sue will supply a more hands-on approach and walk through the process with them."

Business evaluations by Shaner are at no cost and can also include businesses that are in transition and are wanting to buy or sell. Applicants can be those with just an idea for a business, a hobby with marketing potential or an existing business that wants to expand but not sure of what step to take next.

In addition, Shaner is willing to work with those interested in submitting a business plan for the The Hormel Business Plan Competition.The winning entrepreneur or team will receive a $25,000 cash investment, as well as consulting and advertising services valued at $10,000. "There are so many programs and resources out there, sometimes it's like finding a needle in the haystack," she said. "I don't know all the answers but we can help pinpoint what it is an existing business needs to expand, or what a new entrepreneur needs to get started." This means Shaner will look at the "big picture," she said, and evaluate the strengths and weaknesses of new or existing business. It can include such things as developing a business plan, which involves financing programs that offer micro and or low-interest loans, or a marketing plan, which can help determine such things as who else is offering the product or service in the industry or what business owners can do to attract new customers.

Plus, Shaner will team with an area resource team that is being assembled as a referral network. The team, comprised of people in the community who have expertise in their own professional sphere, such as banking, housing, accounting or human resources, will act as "connector" people for those just getting started. "It's true what they say, it's not just what you know but who you know," Nelson explained, as the resource team will share their own experience and contacts. As a business coach, "We'll act as a sort of middleman, a teammate, in linking the pieces together and help direct people to solutions," Shaner said, who has her own a significant background of networking contacts.

As the former Dean of Economic and Training at Mid Plains Community College, Shaner became familiar with area businesses as she customized and designed business training programs. She and her husband also have owned businesses themselves, such as a health club in the Chicago area, so she understands the challenges and risks that come with being a small business owner. "We know how hard it can be, starting a new business," she said. "It can seem like an intimidating process. Sometimes, just bouncing ideas off of someone else can illuminate what gaps need to be addressed."
Shaner is enthusiastic about the possibilities that can be achieved.
"Business begats business," she pointed out. "The more you have quality businesses, the better it supports other businesses. "Already, I can't believe the things people have come up with, what they're thinking about doing. This is such a vibrant community, I feel this is just beginning."
To schedule an appointment with Shaner, call her at 340-2698 or e-mail sue@mccookne.org