2007 Extreme Small Business Makeover

This is it! We're down to the final few decisions before announcing the winners of our very first Small Business Makeover. From the initial brainstorm about a year ago (thanks to Michele Hodges at the Troy Chamber of Commerce) through many changes and challenges, this project promises to be positively exceptional in its overall impact on small business.

Ten applications were submitted after the announcement at the Small Business Conference in May. The applications were reviewed by a Sponsor Advisory Panel and five companies were selected to submit additional data. Next, the panel visited all five companies and interviewed their principals. Now, the panel must make its final decisions and it won't be an easy task. Thanks to Sponsor Advisory Panel members Ursula Scroggs from DKSS, Frank Seyferth from Foster Swift and Mike Semanco from Hennessey Capital for spending the equivalent of two full days on the interviews.

These organizations are donating their expertise to the Makeover project:

• Foster Swift Collins and Smith Attorneys: Five hours of legal consultation per business. Value: $2,500
• Hennessey Capital: Financing analysis
• Derderian, Kann, Seyferth & Salucci, P.C. 20 hours of professional consultation for each business to include a business, tax and financial systems overview, including a business benchmarking analysis. Estimated value is $3,500, but the impact may be priceless! Microsoft: Two networks (one per company) up to 10 workstations included. Value: $10,000
• Mastermind Solutions: HR Audit. Value: $1,500
• MAP Business Solutions/VerbalWise: One day productivity training session which includes techniques on improving communication with your team and implementing best practices in your business processes. Value: $6,500
• The Alternative Board Metro Detroit: Two coaching sessions per month for eight months. Value: $8,000
• UHY Advisors: Three consultants will perform a comprehensive financial and operational assessment with recommendations and 5 to 7 days of implementation assistance. Value: to $10,000
• Western Creative: Marketing and brand advice. Value $1,500.

NEXT BLOG: The Adams Entrepreneur Fellowship will assist in making the makeover come true. More later - Jan