Greetings, entrepreneurs and friends!

As we gear up for another exciting year of growth and empowerment, it's time to mark our calendars for a truly special occasion—national SBDC Day, happening this year on March 20! This annual celebration isn't just a date on the calendar; it's a testament to the enduring legacy of small business owners, dreamers, and doers everywhere.

For those uninitiated, SBDC Day is more than just a day—it's a rallying cry, a recognition of the incredible impact that Small Business Development Centers (SBDCs) have had on communities across the nation. From coast to coast, these centers serve as beacons of support, offering guidance, resources, and expertise to aspiring entrepreneurs and established business owners alike.

Here at Pikes Peak SBDC, we're gearing up for a day filled with reflection, appreciation, and of course, celebration! We'll be shining a spotlight on the remarkable individuals who dare to dream big and turn those dreams into reality. Join us as we recognize local entrepreneurs for their resilience, creativity, and unwavering commitment to making a difference.

Stay tuned for more updates and exciting announcements as we count down the days to this momentous occasion. Until then, keep dreaming, keep innovating, and keep pushing the boundaries of what's possible.

Brandon Eldridge

Executive Director, Pikes Peak SBDC

Nominate your favorite small business for the 2024 Small Business Awards! Nominations are due March 19. Self nominations are welcome and encouraged. Businesses can be nominated for one or multiple of the following categories:

• Veteran Small Business Owner
• Small Business Person of the Year
• Family-Owned Small Business
• Small Business Champion 
• Young Entrepreneur

Check out the February 21st podcast ‘Beyond the Dais’ for an interview with El Paso County and the executive director of the Pikes Peak SBDC. 

The Business Education Speaker Series, hosted by the City of Fountain Economic Development Commission, highlights six professional subject experts throughout 2024 discussing relevant local and regional topics impacting the Fountain Business Community. March 11 will feature the Pikes Peak SBDC and all things small business.

Borrowers who have a defaulted PPP or a COVID EIDL loan under $100,000 (but have not yet been referred to Treasury) have through March 3, 2024, to take action. The new deadline reflects a 60-day goodwill exception period dating back to January 1 to allow borrowers more time to get in good standing with the SBA. After this period, impacted borrowers will be referred to both the IRS and Treasury. 

Follow these instructions to complete your PPP forgiveness application by March 3. There is no cost to apply, and it takes most borrowers less than 15 minutes complete the application.

Applicants eligible for direct forgiveness may contact SBA at 877-552-2692. For applicants not eligible for direct forgiveness, please contact your PPP lender. For additional questions, contact SBA's Colorado District Office.

The Colorado Springs Chamber & EDC will be transporting community members to the State Capitol on March 5 to speak in support of SB24-106. This is a bipartisan bill that reduces the likelihood of lawsuits filed against condominium properties, Since 2021, only 56 condos have been built in the Pikes Peak region. More than 11,000 apartments were built during this same time. If this bill passes, condos will again be built in Colorado, providing much-needed entry-level home ownership options for our residents. Please contact Jill Gabler if you would like to join us at the Capitol!

Steve Imke was one of the first invisible fencing dealers in the US. He also built and sold two multimillion-dollar documentation and training businesses. He has been a mentor for SCORE and a consultant for the SBDC since 2004. He also served as the chapter chair for SCORE for two years and was the interim director of the SBDC for seven months. In addition, he was the entrepreneurship director for the Pikes Peak State College for about two years. Currently, Steve operates a real estate and an oil and gas business that provides monthly passive income.

Steve has had much success in starting, growing, and selling businesses. Since he has created a portfolio of businesses that provide passive income for the rest of his life and assets he can pass along to his kids, he now gets to spend 100% of his time researching and sharing his business acumen with clients as a volunteer mentor and author.

Q: In your experience, what are the most common hurdles that small businesses face when trying to grow or expand? How do you typically assist them in navigating these challenges?

A: The biggest challenges facing small business owners are weeding through stale content and the sea of misinformation that currently exists on the internet. To that end, I have authored close to 1,500 informational articles that explain many business concepts in layman's terms that are easy to digest and that I deliver to clients via SteveBizBlog.com. My blog content is searchable in a number of different ways, and I even employ an AI engine trained on my data to respond to visitors' questions and links to articles for further research.

Q: Building a strong online presence is crucial nowadays. What strategies do you recommend for small businesses to effectively leverage digital marketing and e-commerce?

A: Regarding marketing in general, I believe that It is not what YOU say about your business that matters. It is about what OTHERS say about your business that matters most. Most forms of digital marketing do not achieve the desired results and are over-emphasized. To that end, I encourage businesses to provide exceptional customer service and develop talk triggers that encourage their customers to spread the word. I provide them with a link to the following post.

Q: Funding and financial management can be daunting for small business owners. What are some practical tips you provide to help them secure funding and manage their finances efficiently?

A: Most lenders do not provide debt funding to startups. Therefore, I advise businesses to start small with the founder's own cash at first. If the founder does not have the cash available, that says something about their financial management skills. If they do not have the seed cash now, they need to find ways to earn it via other means. This helps them develop sound financial management skills. During the early stages of a business, the business needs to focus on creating revenue to prove that its business model has legs. Next, the business needs to show that it can turn a profit to prove it is viable. Once it has removed much of the risk of failure, they can approach a lender for money to scale their business. Here's a free course that can help with this.

Q: Can you discuss the resources and tools that SBDC provides to support small businesses beyond consulting? How can entrepreneurs take advantage of these offerings?

A: In addition to running the appropriate IBIS World report for the client, I also encourage clients to use the resources of the Pikes Peak Library District. I point them to three tools. DataAxle’s Business and Consumer Lifestyle Database Tools and DemographicsNow. I also encourage them to utilize the SizeUp tool offered by the Chamber/EDC. I then provide them links to explainer videos that I offer on SteveBizBlog on how to use each of the tools.

Q: What trends do you foresee in the small business sector in the coming year? How can entrepreneurs prepare themselves to stay competitive in light of these trends?

A: Artificial Intelligence (AI) platforms like ChatGPT, Copilot, and Claude continue to be game changers. I often share the value of each platform and the value of prompt engineering to get the results they desire. I believe so strongly in AI that I recently even trained an AI bot on SteveBizBlog to answer questions based on my extensive database of posts and tools.

Q: Favorite place you have traveled to?

A: Exploring Holland on a Motorsailer

Q: A book that's had a lasting impact on your work?

A: The 4-Hour Work Week by Timothy Ferriss & Predictably Irrational by Dan Ariely

Interested in a no-cost consulting meeting with Steve? Click here.

Startup Colorado Community Funding | Rolling 

Startup Colorado prioritizes the funding of projects, initiatives and events that prioritize collaboration, inclusiveness, accessibility, and community support. The maximum award is $2,500. Applications will be accepted on a rolling basis, decisions will be made at the end of each month.

HerRise MicroGrant | Rolling

The HerRise Micro-Grant provides financial assistance to women of color creating innovative solutions that impact their community and that are often unable to secure funding for their small business. Apply for the HerRise MicroGrant by sharing your business pitch and plan in the application.

Grants for Single Moms | Rolling

The Kickass Single Mom Stimulus Grant has one goal: Give a hand to single moms struggling with money, health, stress, child care, illness and loneliness. Every month, they grant $500 to a single mom, no strings attached.

Manufacturer’s Edge Small Manufacturing Recovery Grants | Rolling

Manufacturer’s Edge is an organization that provides onsite support, strategy, planning, training, and technical assistance to manufacturers across Colorado. The SMRG’s purpose is to help fund costs of consultative services for manufacturers. 

The Well Work x Justworks - Just Thrive Program | Rolling

Up to $6,000 credit to existing businesses that have at least 50% ownership by marginalized founder

Small Business Marketing Grant | Rolling

SEO and website evaluations for black-owned or minority-owned (BIPOC) businesses who would want to improve their existing website

U.S. Senator Hickenlooper's Federal Grants Support

Senator Hickenlooper is working hard to ensure that Colorado continues to receive its fair share of these federal investments, and his office is eager to serve as a resource for more information, answer additional questions, and assist with your application.

Restaurant Disaster Relief Fund | March 29 Deadline

$10,000 in grant funding

Galaxy Grant | March 31 Deadline

Enter for a chance to win a $2,750 Galaxy Grant.

Another great resource is this Grant & Funding Database from our partners at the East Colorado SBDC.

Questions about these grants?

Please reach out to Ginelle Curcincita, owner of OroMar Consulting, where she positions entrepreneurs to confidently bring in the money!

Vectra Bank is a community bank that has been serving the Colorado Springs business community for 25 years. Their goal is to provide customers with the knowledge, expertise and financial solutions that will help them be successful. Local experts are happy to serve you at their locations at 7390 N. Academy Blvd. or downtown at 111 S. Tejon St.