The
Runners’ Club – Developing the Next Generation Of Large-Scale African
American Entrepreneurs
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How does the Runners’ Club work? Each Runners’ Club class is comprised of mature, well-educated and motivated individuals selected in a highly competitive process on the basis of a written application and personal interviews. The Runners’ Club then works with each class via an integrated curriculum design of:
Our curriculum is not designed to teach basic business principles, as this knowledge is a prerequisite for accepted into the Runners’ Club. Instead, we provide a comprehensive treatment of the major issues faced by today’s entrepreneurs and transmit insider information on various entrepreneurial topics such as how capital is raised, management teams are built, and deals get done. In short, the Runners’ Club provides the "unwritten rules" of business by way of a structured and customized curriculum. A key function of the Runners’ Club is to introduce prospective entrepreneurs to a select group of outside resource persons, including successful entrepreneurs, bankers, attorneys, accountants and venture capitalists. We call this volunteer group our Brain Trust, as these individuals provide participants with immediately usable information about market opportunities, deal structuring, financing options, management team formation, corporate governance, and other practical issues facing aspiring and existing entrepreneurs. The Brain Trust provides a critically important mentoring function as well as access to business and entrepreneurial networks for the Runners. Some of the volunteers that comprise the Brain Trust include:
To address capital access we facilitate introductions between the entrepreneurs and investors, both on an ongoing basis and at the conclusion of the Program. We sponsor a closing Investor Conference where we invite over 50 venture capitalists and bankers to hear our entrepreneurs present their business plans as investment opportunities. Prior to this conference, we work intensively with our participants to make sure that their business plan is complete and compelling. The Runners are not only advised by our Executive Director and Brain Trust members about what to expect and how to respond to questions from potential investors, but we also hired a professional presentation consultant to coach them in the art and science of pitching the deal. After the conference, we arrange one-on-one meetings with our Runners and interested investors. |
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