10,000 Small Businesses

Issue

From 2018 to 2020 North Star Alliances worked with Goldman Sachs to elevate their community engagement program, 10,000 Small Businesses. The program aims to grow small businesses and uplift entrepreneurial efforts by providing access to education, capital and support service. In 2018, Goldman Sachs looked to NSA to help spread the word about the opportunity to participate - particularly among key business communities in the Los Angeles region - in an effort to secure applicants.

Solution

To kickstart the work, NSA developed a robust strategic partnership, community outreach, and engagement strategy that targeted a range of stakeholders from across the Los Angeles region. While NSA’s ultimate goal was to secure applicants, it was essential that the firm first raised awareness around the Goldman Sachs program as a reputable program that offered critical educational, financial, and advising support so starter businesses could grow and succeed. For this effort, NSA’s tactics included:

• Compiling an extensive list of small business presidents and CEOs to engage on opportunity to participate in the program.
• Forming strategic partnerships with major private and public stakeholders in the region to support program recruitment efforts.
• Developing communications materials that educate target small businesses about the program, its offerings, its successful alumni, eligibility requirements, and how to apply.
• Conducting grassroots outreach via email, phone, social media, and virtual/in-person events to connect with small businesses and discuss the program.
• Identifying small business events in the LA region where Goldman Sachs could purchase exhibition tables or booths to recruit prospective applicants.
• Working with program alumni to engage prospective applicants and develop a referral campaign.

Result

NSA was able to effectively engage many of its targets by leveraging the firm’s existing, deep-rooted relationships with major stakeholders, including small businesses, across the Los Angeles region. In total, NSA connected with thousands of small businesses to inform them about the opportunity to participate in the 10,000 Small Businesses program. Furthermore, NSA helped secure a number of partnerships with high profile stakeholders, including Los Angeles Mayor's Office, Los Angeles Area Chamber of Commerce, Orange County/Inland Empire Small Business Development Center Network, Regional Chamber of Commerce - San Gabriel Valley, California Manufacturing Technology Consulting, and Southern California Gas Company. NSA’s work contributed significantly to the program’s long-term success in the Los Angeles region, as the program is now well-recognized and has seen significant growth in participation.

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