The Process

It all starts with you applying for the program through this website. You will be referred to a Small Business Development Center for initial screening to insure you qualify for the program. If you do, the SBDC will help you prepare a presentation. You will then present to the FVEC, which will have three outcomes, The FVEC needs additional information, The FVEC doesn’t have the appropriate resource to help you, or you are accepted into the program.

If you are accepted, you will be assigned a consultant to work with you through the program. The program starts with a 30 day evaluation of your business and to set goals and objectives for the remainder of the program. In some cases, the consultant, working with the FVEC, will determine that the FVEC does not have the resources to complete the program with you and the relationship would end, however, this is very rare. The remainder of the engagement is to meet the goals and objectives defined. At the end of the program, you will be required to make an exit presentation to tell the FVEC what you’ve accomplished and to provide feedback on your experience.

Step 1 – Eligibility

How to know if you are a good candidate for FVEC

Initial success – your business must be experiencing success in its current stage. FVEC is not a turn-around program. You should be showing revenue growth (profits are not a requirement). You should be able to clearly articulate your potential for future growth, even if you aren’t sure exactly how to prepare for it.

Time – The FVEC Accelerator program is designed to help you lay a foundation for your next growth stage. The program will require you to commit significant time over the next 3-6 months both for meetings and homework. It is not advised that you enter the program during your busy season!

Foundations – You must have a bookkeeping system in place and current, as well as be current on your taxes. If you need help with that, connect with your local SBDC as a stepping stone to help you lay the foundations necessary to apply to FVEC.

Step 2 – Preparation

Meet with your local SBDC or other FVEC partner to discuss whether FVEC is a fit for you and help you prepare your pitch. Your preparation may take a meeting or two, or maybe longer. The SBDC is there to help you get prepared to make the most of the FVEC Accelerator program.

Step 3 – Pitch

Elements of a successful pitch:

Focus – Keep in high level. You don’t need to dive into all the details of your business. Getting too wordy in your pitch will detract from its effectiveness.

Readiness – FVEC will be evaluating your readiness and coachability. 

Transparency – Be honest about where you are. The purpose of the pitch is to clearly articulate your opportunities, and your needs.

Step 4 – What to expect

Once you are assigned an accelerator consultant, you can expect the following from the engagement:

Dissect – The consultant will dig deeper into your business to get a better understanding of what you are doing, how you are doing it and where you want to go next. Be prepared to be transparent and honest.

Direct – Your consultant is there to challenge you, direct you, and advise you. But this does not occur in a vacuum. You should plan to be actively engaged in the process. Feel free to disagree, challenge and discuss everything with your consultant as you go.

Change – Both you and your business will be changed by this process. If you weren’t, growth would not be occurring. Expect highs and lows – wins and frustrations. You are welcome to talk with an FVEC graduate about their experience before your start. 

The FVEC Accelerator program will help you lay a stronger foundation for growth. You will make at least some progress along that growth path, and will leave the program with the tools and techniques you need to keep going.