Business Musing: SBDC Leads with Priority Setting Tool
The Small Business Development Center (SBDC) at Southeast Missouri State University's Economic and Business Engagement Center was recently honored with the "Center Most Innovative Award" from the University of Missouri Extension Business Development Program (BDP). One aspect of the center's innovation is the implementation of GrowthWheel, a tool developed by entrepreneurs, for entrepreneurs, designed to help businesses prioritize.
GrowthWheel is a checklist that helps business leaders identify focus areas and prioritize next steps. The tool helps strategically prioritize decisions and is primarily focused on companies looking to grow and improve their business operations, although it can also be used for startups. Beyond the initial "checklist," GrowthWheel also has practical worksheets to help solve the problems or opportunities in different business areas. For example, if the business leader finds the company needs to focus on branding, they can utilize GrowthWheel worksheets to help develop their brand description and authenticity, as well as see which aspects need trademark protection. Overall, there are more than 100 worksheets for 20 business areas common to all companies.
The SBDC helps businesses succeed in every stage from concept to startup, growth to renewal, maturity to succession, through programs and individualized counseling. The SBDC at SEMO provides these services to businesses across 19 counties in Southeast Missouri, and is open to small businesses and aspiring entrepreneurs seeking resources.