Every new business has unique needs and challenges, particularly during launch and the first few years of growth. If you’re starting a new enterprise, a business incubator can help, providing access to mentors, investors, and other forms of support.
The Catalyst Mastermind Collaborative is excited to announce that we’ve started a new Mastermind group to support Las Vegas entrepreneurs who are launching a new business. We look forward to sharing our knowledge with local business owners so they can catapult their side hustles into successful full-time ventures.
What is the Catalyst Incubator Program?
Business incubators have been around since the 1950s. Over the years, they’ve evolved in various and interesting ways, but they all share the common goal of promoting business growth.
Unlike business accelerators, business incubators typically follow a looser schedule and can be tailored to your particular needs. Benefits for a growing start-up include:
- Learning and growing. A good business incubator gives you access to a professional network of coaches, mentors, and programming geared toward innovation and creativity. Mentors include other entrepreneurs, HR pros, investors, lawyers, and more who have valuable industry experience or have built and scaled start-ups themselves.
- Understanding your financials. Learn how to start out ahead of the game by gaining a deep understanding of your business financials, learn how to pay yourself first, and plan for growth, taxes, and profitability.
- Networking. You get to meet plenty of fellow innovators with whom you can collaborate or share plans and inspirations.
- Strategic advice on growth plans, including hiring and business development.
Every incubator operates in its own way. Catalyst’s initiative will involve regular monthly group meetings, education, and one-on-one mentorship. “This partnership,” says founder Sonia Petkewich, “is beyond exciting.” She and Money Coach Lisa Chastain believe that entrepreneurs in this phase need operational guidance, leadership training, and coaching that give them the confidence to succeed. Catalyst’s mission is to provide them with access to expert coaches in these and other critical areas like developing a financial strategy.
Subjects the Catalyst Incubator Program will cover include:
- Sales, marketing, and branding
- Clarifying product offerings
- Website creation
- Breaking through limiting beliefs
- Finances and legal aspects of running the business
Do business incubators truly work? Experts say that proper fit is key to ensuring you get the most out of an incubator, so it pays to explore several options before deciding which one is right for you.
Is an Incubator Program Right for Your Business?
Taking part in a business incubator program that’s well-aligned with your needs and vision can undoubtedly give your business a leg up on the competition. And the valuable insights you gain, such as understanding your blind spots and learning to run a business, are often exactly what’s needed to help you take your start-up to new heights.
To learn more about Catalyst Mastermind’s Incubator Program for entrepreneurs, contact us online or call us at 702-682-1899.