Business News for January 28, 2022
Today's message includes the following news, best practices, and online courses:
  • Recognizing Our SBDC Teammate, Tara Brown
  • 8 Reasons to Consider Collaborating with Another Small Business
  • On-Demand Entrepreneurial Learning
  • Governor's Business Plan Contest
  • 10,000 Small Businesses

Upcoming SBDC Learning Opportunities - Spring Catalog Coming Soon!
  • Launch into Leadership
  • Positive Power Plays
  • Balancing the Leadership Scale: Maximizing Team & Individual Productivity
  • Buy-Sell Agreements
Business News, Updates, and Best Practices
Recognizing Our SBDC Teammate, Tara Brown
We want to take a moment to recognize the retirement of our friend and colleague, Tara Brown. Tara helped us keep track of - and execute at the highest level - more procedural, programmatic, website, and other support functions than we can count.

We can't think of anyone else who has such an exceptional ability to organize information, handle many details at once, and - in the midst of even the wild ride that has been supporting entrepreneurship during COVID - still enjoy spending time with our team and showing pride in her work. Her dedication to you, our clients, is unparalleled. She's been with the SBDC for over 16 years, and we will greatly miss her!
8 Reasons to Consider Collaborating with Another Small Business
from the ASBDC blog
By Sharita Humphrey

Collaboration is a great tool for businesses, regardless of their industry or size. Typically, it refers to organizations working together to solve problems and achieve goals that seem to be out of reach when working alone.

By combining the expertise, perspectives and skills of different people and organizations, all parties involved are better able to innovate and grow.
The key benefits of business collaboration can fall under specific categories:
  • Physical Capital. Share resources, equipment, facilities, or raw materials.
  • Human Capital. Increase employment, develop employees’ skills and knowledge, encourage staff motivation, etc.
  • Intellectual Capital. Tap into combined knowledge, capabilities, skills or expertise.
  • Financial Benefits. Cut costs by sharing resources, bid for larger contracts, etc.


Check out a local example of business collaborations for this upcoming Galentine's Day event, featuring Crossroads Coffeehouse, Nineteen09, Miggy's Bakes, Tricky Foods, Ash + Arrow Events, Sugarsmith, D&A Treats, Revel, and Kendra Scott!
On-Demand Entrepreneurial Learning
from the UW-Madison Innovate Network
Did you know that the UW-Madison SBDC is part of the UW-Madison Innovate Network? the Innovate Network is the university’s front door for campus innovators to find resources to help them bring their ideas to the marketplace.

The Network has compiled a list of entrepreneurial topics you can learn on your own - any time! These include:
  • First Steps to Starting a Business
  • Entrepreneurial How-To Video Series
  • Introduction to Patents
  • Introduction to Intellectual Property
  • Managing Conflicts of Interest
  • Navigating Consulting Agreements
  • Tech Transfer Considerations in Agreements with Commercial Partners
  • Federal Funding for Your Business
  • Explore Wisconsin Innovation
... and more!
Governor's Business Plan Contest
250-word submission due January 31 at 5:00 pm
The 19th annual Governor’s Business Plan Contest is designed to encourage entrepreneurs in the startup stage of tech-enabled businesses in Wisconsin. The contest links up-and-coming entrepreneurs with a statewide network of community resources, expert advice and mentoring, management talent and possible sources of capital. 

Finalists will share in more than $125,000 in cash and in-kind prizes.

To submit your initial 250-word entry and learn more about the contest, visit: www.govsbizplancontest.com.
10,000 Small Businesses
no-cost, 12-week Goldman Sachs program focused on business growth
  • Offered at no cost; funded by the Goldman Sachs Foundation
  • Within 6 months of graduating, 67% of alumni reported increased revenues
  • Scholars develop a customized 5-year growth plan to drive growth and impact their communities

Qualifying businesses should have $75,000+ in annual revenues and at least 2 employees. Informational webinars about the program are offered every week starting January 31st at 2:30 pm Eastern.
Upcoming SBDC Learning Opportunities
Below, you'll find a few examples of upcoming classes we are offering to help you START your business, MANAGE your business operations, and GROW your leaders. To see all of your options, view our full Spring/Summer 2022 class calendar. We look forward to seeing you in class soon!
Launch Into Leadership for New Supervisors
February 22-24, 2022 (online)
Taking on new supervisory responsibilities is a great opportunity and challenge. Many in supervisory roles have learned either by trial and error or by following what was done by their predecessor. In most cases, this is not a very effective strategy. This virtual online series will start you in the right direction with fundamental leadership skills and ideas for how to continue your growth as a supervisor and leader.
Balancing the Leadership Scale: Maximizing Team & Individual Productivity
starts February 15, 2022 (online)
As leaders, we are responsible for the success of our teams, but we also have our own projects and responsibilities. How do we ensure we’re maximizing the return on the investment of our limited time, energy, and efforts? What can we do to ensure we’re focused on high-value work while providing those we lead with opportunities to grow and develop? This course is designed for leaders and managers who are responsible for both individual and team-level results. Learners will gain valuable insights into creating a team-level culture of accountability, delegating for success, and implementing daily practices to enhance their personal leadership effectiveness.
Positive Power Plays: Skills for Conflict and Negotiation
February 16, 2022 (online)
All leaders must navigate conflict within their work. However, conflict can serve as a tool to bring different viewpoints to the surface, increase creativity, and allow the team to develop win-win resolutions. In this course, you will learn listening strategies, emotion management, anger resolution techniques, steps to planning a negotiation conversation, conflict styles, and stages of conflict resolution.
Buy-Sell Agreements
March 9, 2022 (online)
If you are in business with other people, the reality is that at some point, you will not be. As with any personal or professional partnership, communication is key. By working together to create a buy-sell agreement – before someone leaves the business – you can create a strong foundation for your partnership and ensure that you are on the same page.

Whether you are starting a new business or revisiting the agreement you already have in place, there is no time like the present to ensure that it still reflects your intent.
Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Contact the UW-Madison SBDC office at sbdc@bus.wisc.edu or 608-263-2221 to request accommodations.

The Wisconsin SBDC Network is a proud part of the Institute for Business & Entrepreneurship in the University of Wisconsin System. It is funded in part through a Cooperative Agreement with the U.S. Small Business Administration.