Thirty teams composed of the University of Washington Foster School of Business faculty, Rotary business mentors, and UW students currently working with thirty small businesses; over $100 million in new revenue generated; and support for 50,000 jobs in Washington State --all the result of an idea 25 years ago when six local Rotarians collaborated with director Michael Verchot to found the UW Foster School Business Mentors and Consulting Program.
It began with the hope that the Foster School of Business and interested business executives could form up to 10 teams to consult with, and assist, women- and minority-owned small businesses thrive. The group recognized the needs facing small and new business owners. Their plan included bringing students onto the teams so the students could get 'real-life experience' while learning. The small idea bloomed and now the Consulting and Business Development Center has paired more than 1,500 students with over 300 Rotarians under the guidance of more than a dozen UW faculty members to work with those in economically distressed and under-represented communities. The consulting addresses whatever is needed from budgeting to marketing, human resources to taxes.
Michael Verchot facilitated a conversation with three of those involved including Vinson Latimore who grew a single assisted care facility business into a vertical organization of care facilities, uniform shops, and a medical supply company; Efrem Fesaha who left a 14-year career in corporate finance to open his coffee company dedicated to sourcing from Africa and establishing a community; and Taylor Shimizu who first participated as a UW student and who credits her professional success with her experience in the program. All three applauded the immediacy of the assistance they received. That is, the Foster School teams were ready to help as questions or issues arose. As with all professionals, the three mentioned the obstacles they overcame on their way to success. For instance, Efrem mentioned being questioned on the advisability of opening a coffee shop in Starbucks country. Resolving the obstacles led to better business plans.
The Ascend program has been so successful that the center is taking it nationally to 16 U.S. cities from Los Angeles to New York, Atlanta to Minneapolis. This is in part due to the backing of former Rotary speaker Phyllis Campbell and JPMorgan Chase.
This long program began by hearing from Gabriela Michan Rodriguez, Assistant Director, and Patricia Gonzales-Delgado, a senior currently participating in the program.
President Kim Moore welcomed us and opened the meeting with Raymond Tymas-Jones wowing us as we sang along with him in Climb Ev’ry Mountain with Freeman Fong on the piano. District Governor-elect Cathy Gibson inspired us for the upcoming program by reminding us that true consulting includes three Cs: Consulting, Counseling, and Cheerleading. Kim Moore highlighted Seattle 4 Rotary member, Don Murphy, for his personal accomplishments and his 30 years as the sage advisor to the Seattle Rotary Service Foundation –a well-deserved honor.
President-elect Jeff Borek donated two Seattle Sounders mid-field tickets and a parking pass as a Recruiter Reward. Dave Woodward won the drawing, but in a serendipitous turn of events, Sarah Weaver and I were given the tickets! We thoroughly enjoyed ourselves (see photo), likely more than the Sounders did.
Ending the meeting, VP of Programs, Jeff Pyatt, noted the next four programs featuring women in recognition of March as Women's History Month.
Thank you Totem Reporter Susie Roe!