Submitted Photo
By Aila Boyd
aboyd@mainstreetnewspapers.com
This year marks the first time that The Advancement Foundation’s The Gauntlet will offer classes in Buchanan at the Buchanan Community House.
“Buchanan is open for business and you are invited to be part of our award-winning community,” Buchanan Town Manager Jason Tyree said. “Budding entrepreneurs should consider entering the Gauntlet Business Competition to take advantage of this dynamic business development program and competition.”
The town has partnered with The Advancement Foundation in an attempt to encourage entrepreneurs to follow their dreams of starting a new business or expanding a preexisting business in downtown Buchanan. Businesses choosing to open in Buchanan will be eligible for $30,000 in prizes to be divided using funds from the Community Business Launch Grant that the town was awarded in October of 2019.
The 10-week business development program and competition, which is currently in its sixth year, works to connect entrepreneurs to resources. Competitors in the program have the opportunity to benefit from over $300,000 in cash and in-kind awards. They will also have access to low interest loan funds, matching grants, and industry expertise.
Buchanan Community Development Planner Harry Gleason said, “Now may be one of the best times ever to follow that dream to reality by registering in the Gauntlet Business Program and Competition for the opportunity to be part of a dynamic 10-week business development program and competition.”
Topics of the classes will include business analysis, business development and planning, marketing, operations, speed networking, budgeting, and sales and customer retention.
The dates for each of the classes are:
- February 4: orientation, including a summary of The Gauntlet program, a review of the schedule, expectations, and the resources that are available to participants, and a discussion on time management.
- February 11: review of draft business descriptions, value propositions, and costs for doing business.
- February 18: optimize strategic business planning.
- February 25: identify revenue streams and how to maximize them.
- March 3: branding and public relations.
- March 10: day to day operations of a business, what to expect, and how to manage.
- March 17: group activity involving participants presenting their businesses with others and receiving feedback.
- March 24: entrepreneurs will use “budgeting muscles” to figure out case study examples with bankers and accountants.
- March 31: strategies on how new and current customers are different and how to keep current customers coming back.
- April 7: groupings based on section of business plans and challenges and mentor participation.
- April 14: review of final business plans.
All of the classes will be held between 6-7:30 p.m.
Program judges will review the business plans of participants between 15-22. The finalists will be announced on April 24. From there, the finalists will pitch their business plans on April 29, April 30, and May 1. The graduation and awards ceremony will be held on May 14 at the central location at the Vinton War Memorial.
Classes will also be offered at Dabney S. Lancaster Community College in Clifton Forge, the Dabney S. Lancaster Community College Rockbridge Regional Center in Buena Vista, and at the Vinton War Memorial.
Fees for the program are: $25 (application fee), $199 (educational portion), and $100 (submission of a business plan for judging).
More information about The Gauntlet and information on registering can be found at www.theadvancementfoundation.org.
