It’s been a big year for Bad Girl Ventures
(BGV). Its new executive director, Nancy Aichholz, joined in April, and a new curriculum structure launched this month.
“We had a one-size-fits-all class open to any woman who had a business in any stage of the business cycle,” Aichholz says. “And that worked, but it didn’t work for everyone. We needed a program that offers different kinds of help at each stage of a businesses development.”
The revamped BGV program
takes a tiered approach — Explore, Launch, Grow — to support women-owned businesses.
“Explore is for the person who is literally exploring the feasibility of their idea,” Aichholz says. “They may have a concept and might actually be in business, but they aren’t very far along and they definitely don’t have a fully functional business plan. We’re helping them vet their ideas and walk them through the process of starting a business correctly.”
The first Explore class started mid-September with 36 participants. Weekly classes will address legal issues, human resources, marketing and finance as well as coaching and how to pitch their business to investors. By the end of November, each Explore participant will have a basic working business plan.
The second phase of the new curriculum, Launch, will begin in the spring.
“Launch will target women who are much farther along in the business cycle,” Aichholz says. “We’re looking at participants who have been in business for a couple of years with revenue and customers. Launch participants will develop a business plan to take to funders.”
The 25 participants in the Launch program will be selected through an application process that will evaluate their experience and potential for capital investment. The nine-week program will include weekly classes and work with SCORE mentors
. At the end of the program, participants will present their business plan and pitch their idea in competition for up to $25,000 in business loans.
“In the past, there has been primarily one $25,000 loan,” Aichholz says of the original BGV concept
. “Although that has been fine so far, to really meet the needs of our female entrepreneurs we need to loan them the amount of money they need, not a fixed amount.”
The final phase of the new BGV curriculum, the a la carte workshop series Grow, will begin next summer.
“We have BGV businesses that are five years old, and they’re facing completely different issues than those just starting a business,” Aichholz says. “They’re thinking about partnering, franchising, selling to national organizations, things that are at a more experienced level than the women just getting started. Instead of a series of classes, with Grow you can come to the workshop that’s right for you.”
None of the new curriculum tracks require participation in previous Bad Girl Ventures classes. The classes are even open to men, although they aren’t eligible to compete for the business loans.
Bad Girl Ventures offers programs in Greater Cincinnati and the Cleveland area, with more than 650 alumni, including owners of The Yoga Bar
, Sweet Petit Desserts
and Pet Wants
“BGV businesses are much more likely to stay in town, to get their venture capital in town, and then those jobs are staying in the region,” Aichholz says. “We have had BGV businesses that have scaled dramatically, but they’ve kept their primary base here.
“A big differentiating factor with BGV is that once a Bad Girl always a Bad Girl. Our alumni constantly interact with and support each other. This alumni network is a unique asset for BGV that we can offer as a support system both to incoming Bad Girls and to any female entrepreneurs we’ve launched into their own businesses.”
Entrepreneurs interested in participating in the Launch and Grow programs can sign up online to be notified when applications for the spring class and summer workshops are available.