We are honored to receive Platinum Seal of Transparency for 2024 by Candid. The Platinum Transparency Rating is the highest level a nonprofit can achieve, signifying an exceptional commitment to transparency in sharing, our goals, strategies, financial data, capabilities, achievements, and progress.
The Economic Growth Business Incubator (EGBI) provides training, coaching, and support to aspiring and existing business owners who face barriers to growing a successful business. Barriers include education, finance, and language. We believe that all businesses should be profitable, sustainable, and an asset to the community.
Notes from the nonprofit
Economic Growth Business Incubator (EGBI) is a non-profit organization which provides training, coaching, and support to aspiring and existing business owners who face barriers to growing a successful business. EGBI believes that all businesses should be profitable, sustainable and an asset to the community. To that end, we offer a comprehensive package of business coaching, group workshops, and support services for aspiring and existing businesses. We frequently work with micro and small business owners and a lot of the businesses that we work with are still in the design state and are not active yet; or they have been in business for less than five years. Some of the businesses who partner with E.G.B.I. could be considered informal businesses and the owners are ready to transition into a more structured business entity. Typical businesses that partner with E.G.B.I. are mom & pop businesses and lifestyle businesses.
Executive Director: Larissa Davila
Main address
1144 Airport Blvd Ste 260
Austin, TX 78702 USA
Programs and results
What we aim to solve
The Economic Growth Business Incubator aims to be a better organization and increase our impact in the community while moving towards a more self-sustainable model for funding because we want to… Read more
Our programs
SOURCE: Self-reported by organization
What are the organization’s current programs, how do they measure success, and who do the programs serve?
Training, Coaching and Support
EGBI is industry-agnostic, in that we work with aspiring and existing business owners who bring the expertise around their idea; and we bring business practices, strategic thinking, and other resources. Many of our clients come with years of industry experience; but lacking opportunities to advance in their place of employment, choose to start their own business. Their knowledge of the industry gives them the competitive advantage to be successful. However, they often lack the business acumen to manage a successful business. Through our training, coaching, and support services, we assist our clients to understand how to run and manage their business effectively and efficiently.
TRAINING EGBI’s signature program is a two-part, foundational workshop series: Build Your Business PLAN and MANAGE the ABCs of Business. These workshops are geared to help participants focus on their business idea, develop a useful plan, and learn the tools to manage their business.
COACHING EGBI offers private coaching sessions: one-on-one time for clients to explore deeply their business idea and strategy. Coaches help clients develop their business model, create financial projections using spreadsheets, identify specific strategies for marketing their business, and work through next-step action plans with an accountability partner in EGBI. Private coaching often uncovers life issues and barriers in the way of moving forward; and the opportunity to identify experts, resources, tools, and opportunities to resolve these issues.
SERVICES EGBI offers bookkeeping support, helping our clients set up manual systems for very young businesses, and moving to QuickBooks Online as soon as it makes sense. EGBI can offer an hour of questions and answers, set up services, support for payroll through an online partner, and monthly reconciliation services. As part of our monthly service, we review financial statements with our clients, practicing how to use these statements to manage and grow.
In the bustling world of business, the quest for more clients often consumes our attention because of the widespread myth that an increase in the number of clients is directly correlated to an increase in sales. However, oftentimes this myth remains exactly that: a myth. Business.com emphasizes this by explaining that it is often more expensive to acquire new customers (five to ten times the cost) than retaining old ones who are likely to spend 67% more on average.
Additionally, focusing solely on acquiring new clients serves a much bigger risk that most businesses realize. Studies have shown that the success rate of selling to new customers is 5-20% in comparison to a staggering 60-70% chance of selling to existing customers. These statistics highlight the growing need in the business community to focus more on current customers and increasing existing customer loyalty than acquiring new clients.
Cultivating Customer Happiness…
The key to retaining existing clients lies in keeping them happy and engaged. In an extremely competitive business world, businesses are required to go the extra mile to make their current clients feel valued and appreciated.
Below are listed some strategies businesses can harness to go this extra mile:
Personalized Attention:
Embrace direct marketing tactics such as handwritten notes accompanying your products. This helps showcase a personal touch that resonates with clients.
Highlight long-term clients on social media: make them feel special!
Utilize Upselling Opportunities:
Upselling opportunities are opportunities a business might have to sell more expensive items or add-ons to generate increased revenue. A business can utilize upselling as a sales technique by selling such items among loyal customers (who you have already established a positive relationship with).
Identify complementary offerings or upgraded versions that align with the needs and preferences of your existing clients.
Remember: Effective upselling not only boosts revenue but also adds value to the client relationship.
Exclusive Treatment for VIP clients:
Extend exclusive privileges to VIP clients, such as sneak peeks at upcoming product lines, priority access to products or services, and unexpected gifts delivered straight to their doorsteps.
By making VIP clients feel appreciated and valued, you reinforce their loyalty to your brand and foster long-term relationships.
Leveraging Seasonal Trends:
Capitalize on seasonal trends to introduce special discounts or promotions tailored specifically for existing clients. This can help make them feel special and thus enhance the loyalty they have with your business!
By aligning your offerings with seasonal demands, you not only enhance customer satisfaction but also demonstrate your attentiveness to their evolving needs.
Extra Incentives:
Utilize grassroot marketing by establishing referral programs.
Reach out to repeat customers directly and give them a discount or reward for every successful referral.
Actively seek feedback from repeat customers! This helps demonstrate your commitment to continuously improving their experience with your products or services— thus enhancing customer satisfaction.
Implementation strategies…
Below are some common steps you can use to integrate client satisfaction as a standard practice within your business:
Assess Your Current Practices: Evaluate your existing customer engagement strategies and identify areas for improvement.
Conduct Customer Satisfaction Surveys: Gather feedback from your clients to gain insights into their needs, preferences, and pain points.
Establish Performance Standards: Set clear benchmarks for customer satisfaction and monitor your progress towards achieving them.
Create Exclusive Offerings: Develop special incentives or rewards exclusive to existing clients, incentivizing their continued loyalty.
Know Your Customers: Invest time and resources into understanding your existing clientele on a deeper level, allowing you to tailor your offerings to their specific needs and preferences.
In Conclusion…
It is imperative that businesses realize that oftentimes the true gold mine for sustainable business growth and increased sales lies within our existing client base. By prioritizing client satisfaction, leveraging upselling opportunities, and fostering meaningful relationships, businesses can unlock the full potential of their current clientele.
Remember, in the pursuit of long-term success, nurturing existing relationships is just as crucial as acquiring new ones.
An important decision for any business owner is how to legally classify their company. Whether they opt for a corporation or an LLC, a partnership or a nonprofit, this choice impacts the ownership, liability, and taxation of their business.
While there are many structures available to business owners, at EGBI we commonly work with clients who are deciding between a C Corporation and a Limited Liability Company.
C Corporation
A C Corporation, or C Corp, is one of the most common types of corporations. Companies that are incorporated (commonly shortened to “inc.”) are typically more complicated and expensive to set up and maintain, but offer benefits for businesses that need to raise money or plan to be sold.
Ownership: One or more people
Liability: Owners are not personally liable for business debts
Taxation: The C Corp pays taxes on its profits according to national and federal corporate tax rates
Limited Liability Company
A Limited Liability Company (LLC) is a legal entity that protects owners from personal liability for business debts. While LLCs don’t offer the same benefits for raising funds as a corporation, theytypically require less recordkeeping and paperwork.
Ownership: One or more people
Liability: Owners are not personally liable for business debts
Taxation: Owners have flexibility in choosing between paying self-employment tax or corporate tax
Each structure offers its own advantages and disadvantages, but ultimately the “right” choice depends on each individual business, and is best decided with the help of a legal professional.
If you’d like to consult with an attorney and learn which business structure is best for your company, please join us for one of our upcoming Legal Clinics where you will have the opportunity to speak with an attorney privately for 30 minutes at no charge. Click here to learn more and sign up for your free session.
Understanding the ideal client is essential for any company to establish a successful business strategy. Determining who fits into this category involves combining market research, analysis, and understanding of the company’s products or services. Here’s a closer look at how companies decide their ideal client.
Understand Business Goals:
Companies must align their ideal client profile with their overarching business goals and objectives.
Consider revenue targets, market expansion plans, and long-term growth strategies.
Market Research:
Conduct comprehensive market research to identify potential customer segments.
Analyze demographics, psychographics, and behavioral patterns of existing and potential customers.
Define Ideal Client Characteristics:
Characteristics may include demographics (age, gender, income), psychographics (lifestyle, values, interests), and pain points (challenges, needs, desires).
Map the Client Journey:
Understand the client journey from initial awareness to conversion and retention.
Identify opportunities to engage and add value to ideal clients throughout their journey.
Refine Through Feedback:
Have continuous feedback loops, surveys, and data analysis.
Stay attuned to evolving market trends and customer preferences to ensure the ideal client profile remains relevant.
Determining the ideal client involves a strategic process that aligns with your company’s goals and market insights and focuses on creating value for the target audience. By understanding your ideal clients’ characteristics, behaviors, and needs, you can tailor your products, services, and messaging to make meaningful connections and drive growth.
If you are in need of assistance identifying your ideal client, reach out to EGBI staff for a business coaching session by filling out the form at this link https://egbi.org/coach/ or calling EGBI at (512) 928-2594 .
Once you have been in business for a while, and your transaction level has increased from 2 per month to over 100 monthly transactions. Business has become more complicated, and it’s become harder to continue using free/low-cost tools to track your finances. You have a better idea of what metrics you want to track, so what tools will take you to that next level without breaking the bank?
QuickBooks Online
Ramp
Jirav
QuickBooks Online
Once you need to track transactions by locations, departments, and different fields, QuickBooks Online (QBO) is the natural next step. As long as everything is set up correctly at the beginning, you won’t need to ever move on from QBO unless you need something industry-specific, such as school finance, or you’re planning to have multiple subsidiaries and international locations, or you need to track inventory. It can spit out the basic financial reports you need — income statement, balance sheet, and cash flow statement.
Along with the basic reports, you can see those reports split out by the fields you’ve set, allowing you to see your financials deeper. If you want to connect your Google AdSense data to QBO, you can’t. You’ll still need a spreadsheet to triage all the data to get an overall view of your business related to your financials. Your financials will show you the total cost of online Ads for that month, but it won’t show you whether paid ads or referrals were your biggest factor for revenue growth that month. You can also get a discount via TechSoup if you’re a non-profit.
Ramp
You have contractors and vendors you have to pay. So far, you’ve been paying them as they land in your inbox. Ramp allows you to keep track of all vendor bills and schedule any payment via ACH or check. It will also help you collect all the vendor data you need to send out the 1099 forms the next year. Along with bill pay, you can also create virtual and physical cards for your employees or contractors with limits. It forces the assigned owner of the card to forward or text the receipt for the transaction. You can even create software-specific virtual cards to help you manage your subscriptions. It’s a great system that gives you control over your expenses with audit trails.
Jirav
You have QBO, and you’re using Ramp, which syncs with Quickbooks Online. What do you need Jirav for? Jirav is for the planning, budgeting, and forecasting side of your finance operations. Jirav brings all data from Quickbooks, the payroll system, and other data, such as Google AdSense, together for you to create dashboards and forecasts for the next month or year. Yes, you can continue to use spreadsheets for this, but if you’re spending too much time wrangling data together to create your management reports, this might be the solution you’re looking for. Spreadsheets are great for building your first budgets and forecasts, but over the years, you can automate some processes using software like Jirav.
Quickbooks Online becomes your base accounting software system, and other tools are synced. Ramp and Jirav can sync to or grab data from Quickbooks Online. The goal is not to have disparate systems that don’t talk to each other. Spreadsheets will never go away. There will be some times when you want to do a quick calculation or export the data into Excel to play with. That’s okay as long as you make sure you go back to your base systems. The software you implement should be nimble and advanced enough to give you the data you need without any stress. But not so advanced that you’re spending months on implementation training at this stage of the business.
About the author:
Anwuli Chukwurah is a versatile finance professional with a track record of starting new finance organizations and scaling them for growth in fast-paced entrepreneurial environments. She has over 6+ years of experience working with small business owners, startups, and nonprofit organizations to help connect finance with their business goals. She aims to ensure her clients become comfortable and adept at navigating their numbers. She works with clients at Woolichooks and writes a newsletter for non-finance folks.
FOR IMMEDIATE RELEASE SMBR Announces Partnership with EBGI to Empower Small, Minority and Women-Owned Businesses
Austin, TX – The City of Austin’s Small and Minority Business Resources Department (SMBR) is thrilled to announce a new partnership with the Economic Growth Business Incubator (EGBI). The collaboration is set to significantly enhance the support services available for the City’s small, minority and women- owned business enterprises (MBE/WBE) by focusing on crucial aspects of business growth and city procurement processes.
A New Era of Business Support and Growth
“Through this partnership, we are reinforcing our commitment to the growth and success of small, minority and women-owned businesses in Austin,” said Director of SMBR Edward Campos.
“Collaborating with EGBI allows us to offer a more comprehensive range of services tailored to the unique challenges our small, minority-and -women-owned businesses face.”
For more than 20 years, EGBI has provided training, coaching and support to aspiring and existing business owners who face barriers to growing a successful business.
“EGBI has always been where the community needs it, and we’re excited to partner with SMBR in this endeavor. We provide three times the average coaching hours than most business incubators – and SMBR comes with their impact. Our goal is to provide sustainable growth and success for the businesses that provide traction to our economy,” said Executive Director of EGBI Larissa Davila. “We believe that through this collaboration, we can make a significant difference in the Austin business community.”
Commitment to Continuous Improvement
The partnership will encompass a variety of services aimed at strengthening the business capabilities of firms: Orientation and Training: Firms will receive comprehensive guidance on navigating the City of Austin Finance Online website, enhancing their ability to submit bids and secure city contracts. Business Coaching: Expert coaching will cover an array of topics including business strategy, financial management, preparation for financing applications, and navigating city payment processes. Financial Operations Support: Assistance in adopting more reliable systems for tracking financial operations, including setting up and training on QuickBooks Online. Hands-On Assistance: Firms will learn how to effectively utilize financial reports for business management and gain insight into finding and responding to contracting opportunities.
A Step Forward in Economic Development and Social Mobility
The partnership represents a significant step in fostering business development and economic mobility in Austin. By empowering small, minority and women-owned businesses, the City of Austin reaffirms its commitment to creating an inclusive and thriving business environment.
How to Get Involved To receive training, coaching, and/or support from EGBI, small and minority-owned businesses will need to complete a short intake form that is available on the City’s website. Firms will then need to submit the form to SMBR’S Program Manager I Catherine Sak at Catherine.Sak@austintexas.gov or smbr@austintexas.gov.
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About SMBR The Small and Minority Business Resources Department (SMBR) administers Minority-Owned, Women- Owned, and Disadvantaged Business Enterprise Procurement Programs for the City of Austin. Our mission is to promote access and equity on City of Austin contracts, providing economic opportunity to small, minority-owned, women-owned, and disadvantaged businesses. About EBGI Economic Growth Business Incubator (EGBI) is a small business incubator or business accelerator established in 2003 in collaboration with several community entities including the Greater Austin Hispanic Chamber of Commerce and the Housing Authority of the City of Austin. In 2023, EGBI was recognized as the No. 1 incubator in Central Texas by the Austin Business Journal and in 2024 the incubator received the CAN Butler Award for Spirit of Collaboration and the Candid Platinum Seal for Transparency, and Best Places to Work for Working Parents. EGBI provides business coaching to entrepreneurs in Central Texas wanting to start and/or grow a business. Up until 2024, our organization has provided over 4,200 hours of business coaching in bookkeeping, sales, marketing, business planning, online presence, government contracts and similar topics to provide traction to small business owners.
We are thrilled to extend our heartfelt congratulations to FroFessionals for being honored with the Committee’s Choice Award from the Austin Community Foundation’s Black Fund. This award is a testament to the unwavering dedication of FroFessionals in addressing the unique needs of black, brown, and biracial individuals with textured hair.
EGBI’s client, FroFessionals, are a subscription-based platform, connecting individuals with professionals and product vendors who understand and cater to the diverse needs of kinky, coily, curly, and mixed-textured hair. Recently (on February 13th, 2024) FroFessionals was awarded the Committee’s Choice Award through the Austin Community Foundation’s Black Fund (a beacon of support for black-led nonprofit organizations) and joined the ranks of other eminent, Austin Based Nonprofit Organizations such as Black Mamas ATX and Real Queens Fix Each Other’s Crowns. The awards ceremony, hosted by Hutson-Tillotson University, was a celebration of achievement and culture. FroFessionals’s recognition at this event underscores the impact they’ve had on their community and the importance of their mission.
Moreover, FroFessional intends to use their award to advance their mission of increasing access to quality, consistent, and culturally relevant mental health care for historically underserved members of BIPOC communities in the greater Austin area. A commendable mission that is guaranteed to create a further positive impact on their community.
We are proud to celebrate FroFessionals’ success and commitment to making a difference. Additionally, we look forward to seeing the continued positive impact FroFessionals will have on the community.
Congratulations, FroFessionals, on this well-deserved recognition, and we applaud your ongoing efforts to create positive change in our community!
It’s with great pleasure that we announce the recognition of EGBI for a prestigious CAN Butler Award in the Spirit of Collaboration category. EGBI’s nomination for the prestigious CAN Butler Award in the Spirit of Collaboration category is a testament to its exceptional dedication to community advancement in Austin. Through its innovative programs and initiatives, EGBI has fostered a culture of collaboration, bringing together diverse stakeholders to address pressing issues affecting community well-being. By forging partnerships with civic, business, and community groups, EGBI has amplified its positive impact on the community.
The Butler Awards, named in honor of Fred Butler, CAN’s first Executive Director, hold a special place in the hearts of those who champion community advancement. These awards shine a spotlight on individuals and organizations that exemplify the values of collaboration and leadership.
The core of EGBI’s approach is the belief that collaboration is essential for driving meaningful change. By creating a conducive environment for dialogue and cooperation, EGBI has mobilized collective action to address complex challenges effectively. As we celebrate this achievement, let us acknowledge the tireless efforts of EGBI’s team members, partners, and supporters, whose dedication and passion have been instrumental in driving progress.
The total solar eclipse will be coming to Central Texas on April 8th with the possibility of one million visitors in our area due to this solistrial event. Businesses should take advantage of the rare event and the opportunity to capitalize on the excitement and maximize their revenue.
Let us explore some strategies on making this happen:
1. Eclipse-Themed Promotions: Embrace the celestial theme by offering eclipse-themed promotions and discounts. Consider also having eclipse-themed merchandise; tapping into the event’s spirit can attract locals and tourists.
2. Extend Operating Hours: Since the eclipse will draw new crowds, consider extending your business hours to accommodate the influx of visitors. Staying open later or opening earlier can provide additional opportunities to serve customers and boost sales.
3. Collaborate with Local Attractions: Forge partnerships with local attractions or travel agencies to offer bundled packages that combine eclipse viewing with other experiences unique to Central Texas. Collaboration can attract visitors looking for comprehensive experiences.
4. Create Eclipse Viewing Events: Organize special events around the eclipse. Whether setting up viewing stations with telescopes, hosting educational talks by astronomers, or arranging live music performances, providing a festive atmosphere can draw crowds to your business.
5. Ramp Up Marketing Efforts: Leverage social media, email marketing, and local advertising to promote your eclipse-related offerings and events. Utilize hashtags related to the eclipse to boost engagement and generate awareness leading up to the event. Contact news stations and publications to let them know what your business has planned for this moment.
Consider some of the strategies above, as the total eclipse is an excellent opportunity to capitalize on the influx of visitors and boost revenue.
Trading military uniform for loafers or heels, salutes for spreadsheets – transitioning from military service to civilian life can be a thrilling yet daunting adventure. But for those with the entrepreneurial spirit burning bright, it’s also the perfect time to launch your own venture. Owning a small business offers freedom, flexibility, and the chance to build something truly your own. It requires careful planning, dedication, and a systematic approach.
So, veterans, buckle up for a crash course in turning your military expertise into business success!
Step 1: Find Your North Star (aka-Your Business Idea):
Identify your passion: What skills did you hone in the military that could translate into a business? Are you a logistics whiz? A master of communication? A data analysis dynamo? Finding your niche not only fuels your passion but also helps you target the right market. Assess your skills, experience, and passions to determine your potential business ideas.
Conduct market research: Don’t jump in blindfolded. Research your target market, identify existing competitors, and pinpoint any gaps you can fill. Is there a demand for your unique skillset or service? To try to understand customer needs, conduct market research interviews with friends and family. This will help you identify any challenges with your idea early.
Step 2: Craft Your Battle Plan (aka-The Business Plan):
Write a business plan: This roadmap will guide your journey. Define your business goals, target audience, marketing strategy, and financial projections. Remember, a solid plan attracts investors, partners, and ultimately, success.
Seek funding: Explore your options. Veterans have access to special loans, grants, and programs like the SBA’s Veterans Business Development Center. In addition, Economic Growth Business Incubator (EGBI) has several resources we can share with you to help you source for the best local funding opportunities. If needed, don’t shy away from seeking funding to fuel your growth.
Step 3: Choose a Business Structure and Register Your Business with the Texas Secretary of State (aka-Business Formation):
Select a Legal Structure: Choose the most suitable legal structure for your business, such as sole proprietorship, partnership, LLC, or corporation.
Register Your Business: Register your business name and obtain necessary licenses and permits at the federal, state, and local levels. Lastly, apply for an Employer Identification Number (EIN): Obtain an EIN from the IRS for tax purposes with the IRS.
Step 4: Set Up Your Operations:
Establish Your Workspace: Set up a physical or virtual workspace for your business operations. Procure Equipment and Supplies. Purchase or lease necessary equipment, tools, and supplies to support your business activities.
Set up your business accounting and financial systems. Implement accounting software and financial systems to track income, expenses, and financial transactions. This includes opening your business bank account to connect your accounting information.
Step 5: Assemble Your Team:
Leverage your network: Your military connections are a treasure trove! Reach out to fellow veterans with business experience, tap into mentorship programs, and build a team of advisors and collaborators.
Hire strategically: Surround yourself with talented individuals who complement your skillset. Don’t be afraid to delegate tasks and leverage the strengths of your team.
Step 6: Develop Your Brand and Marketing Strategy:
Create Your Brand Identity: Develop a strong brand identity, including your logo, website, and marketing materials.
Define Your Target Audience: Identify your target customers and develop tailored marketing strategies to reach them.
Implement Marketing Tactics: Execute marketing tactics such as digital marketing, social media, networking, and advertising to promote your business.
EGBI has resources such as our Marketing Roundtable, Toastmasters, and other marketing support to help you during your business journey.
Step 7: Execute with Precision (aka-Launch Your Business):
Start small and scale gradually: Don’t try to conquer the world overnight. Test your concept, refine your offerings, and grow organically based on customer feedback and market demand. You may want to consider having a “soft” launch to gather feedback and make improvements from the onset. Then you can plan an official launch after making any necessary changes based on the outcome of the soft launch.
Embrace the power of technology: Utilize tools like project management software, online marketing platforms, and communication apps to streamline your operations and stay ahead of the curve.
Monitor and Adapt: Continuously monitor your business performance, gather customer feedback, and make necessary adjustments to improve operations.
Step 8: Manage and Grow Your Business:
Provide Excellent Customer Service: Prioritize customer satisfaction and strive to exceed their expectations. After all, your customers are the heart of your business.
Manage Finances: Monitor your financial performance, manage cash flow, and make informed financial decisions to ensure business sustainability.
Seek Growth Opportunities: Explore opportunities for expansion, diversification, and innovation to grow your business over time.
Step 9: Remember Your Mission (aka-Your Why):
Maintain discipline and focus: Military service instilled in you the value of hard work, perseverance, and discipline. Apply those qualities to your business and stay laser-focused on your goals.
Never stop learning: The business world is a dynamic battlefield. Stay updated on industry trends, attend workshops, and continuously hone your skills to adapt and thrive.
Step 10: Stay Informed and Seek Support:
Stay Educated: Stay updated on industry trends, regulations, and best practices to remain competitive.
Join Veteran Entrepreneurial Networks: Connect with other veteran entrepreneurs and business organizations for support, resources, and networking opportunities.
Utilize Government Resources: Explore government programs, grants, and resources available specifically for veteran-owned businesses.
Extra Tip: Don’t hesitate to tap into the vast network of resources available to veterans! The Small Business Administration,SCORE, and Veteran Service Organizations offer invaluable support, training, and guidance. EGBI also provides a number of valuable resources for our veteran business owners as well as it is a privilege for us here at EGBI to support our veteran business owners.
Remember, transitioning from military service to business ownership is a marathon, not a sprint. Embrace the challenges, celebrate the wins, and never lose sight of your mission. With your unique skills, unwavering determination, and a well-crafted strategy, you can conquer the entrepreneurial battlefield and build a business as impressive as your military service.
About the Author,
Monica Perras, Army Veteran, Entrepreneur, and Business Coach and Veteran Services Coordinator at Economic Growth Business Incubator is an advocate for veteran and non-veteran small business owners. With over seven years as a small business owner, Monica works to support aspiring and existing business owners who face barriers to growing a successful business, often, many of them being military veterans. If you’re a veteran looking to start or grow your business, reach her at perras@egbi.org for more information.
Every Wednesday, members of the EGBI Toastmasters club gather to practice their public speaking, presentation, and interpersonal communication skills.
The first part of the meeting is probably what you think about when you think about Toastmasters, where participants deliver prepared speeches to the rest of the club. (Unfamilar with Toastmasters? Click here to learn more.)
But the reality of life is that we often don’t have the time or opportunity to prepare what we want to say ahead of time — and we have to think on the spot.
This is where Table Topics comes in.
In each Toastmasters meeting, participants have the chance to practice their improvisation skills in front of a supportive audience. After the host introduces a question or prompt, random participants are invited to speak about the topic for 1–2 minutes.
Through practice, members learn to organize their thoughts and deliver concise responses without preparation. By presenting and providing feedback to others, Toastmasters members build confidence in their ability to contribute meaningfully to any conversation.
But outside in the real world is where these skills really come to life. Whether you’re answering a customer’s question, participating in a panel discussion, or delivering a last-minute presentation, the ability to respond effectively in any situation is a huge asset. An engaging conversation might turn a one-time visitor into a loyal customer, a speaking opportunity into invaluable publicity, and a restless audience into a motivated one.
If you’re ready to practice your impromptu speaking skills, you’re invited to join the EGBI Toastmasters International chapter, where you will learn and practice alongside a group of supportive peers. Click here for more information on how to join.
