Hot 100 Business Institute
Accelerating the growth and profitability of locally-owned small businesses is one of the quickest ways to positively impact a local economy and community. The HPE Hot 100 program is based on a tested system of helping accelerate revenues and profits of locally-owned businesses. The program goal is to increase local-owned business revenues by $100 million and create hundreds of new local jobs.
HPE Advisors, a California organization, is partnering with local organizations, such as the Kent Washington Chamber of Commerce and the GRCC SBAC, to implement a Kent Hot 100 program. The results should create strong economic impacts for the community such as:
- Increase in jobs
- Increase in local, regional, and national tax revenues
- Increase in local business funding and expansion
- Increase in memberships and involvement in the Bakersfield Chamber of Commerce
- Increased use of local business services, such as banks and CPAs
- More businesses that survive the business cycle and build a multigenerational legacy and commitment to the community
- Increased career opportunities and living-wage incomes for the community
This proposal is based on successful pilot projects in California and Washington, in cooperation with local business advisors. The California program worked with 100 businesses, which created 200 new jobs in only 10 months. The Bellevue WA pilot program worked with 30 small businesses and created $61 million additional revenues (+431%) and over 600 new jobs over three years. These businesses also won many local, regional, and national awards, such as the Inc 500, the Entrepreneur Hot 100, and the Puget Sound Business Journal Hot 100. Most businesses started the program with less than $500,000 in revenues, and then grew an average of $2 million and 20 jobs each.
The goal of the HPE Hot 100 program is to assist 100 local-owned businesses each year, and help create $100 million additional revenues, plus higher profits and hundreds of new jobs, over 2-5 years.
About HPE Advisors
A brief sample of the recent results and awards some clients have achieved:
$400,000 to $1.4 million in revenues per year in 9 months (350% growth)
$120,000 to $12 million in revenues per year in 4 years (+ 10,000% growth)
$3 million to $10 million in revenues per year in 1 year (750% growth)
$0 to $50 million in revenues in 6 years (125,000% growth on $40,000 investment)
Business Services Software
$1.2 million to $6.1 million in 1 year. (400% growth plus $60 million new equity)
$0 to $12 million in 5 years (2500% growth on $40,000 investment)
National and Regional Awards
Inc Magazine “Inc 500”
Fastest Growing Private Businesses
Entrepreneur Magazine “Hot 100”
Fastest Growing New Businesses
Business Journal “Hot 100”
Fastest Growing Private Businesses in the State
Ernst and Young Entrepreneur of the Year
Many other local business awards . . .
How the Program Works
- Local businesses are invited to a free seminar which helps them design a Hot 100 business and decide to build a high-performance business.
- Seminar is hosted by local Hot 100 sponsors (banks, accounting firms, etc)
- The free seminar (1.5 hours) is conducted by local business advisors
- Over 12 months, 100 locally-owned businesses are accepted into the Hot 100 program
- The management team of each Hot 100 business goes through the HPE Action Plan private seminar (4 hours) with their Hot 100 business advisor
- Each business receives one-on-one follow up guidance from the business advisors for 1-5 years (4-10 times a year)
Each year in the program, the businesses go through the HPE Action Plan private seminar to set a new high-performance goal and to redo the HPE Action Plan
- Hot 100 businesses are featured in local media articles
- Hot 100 businesses are invited to regular networking events just for them, hosted by local partners.
- An annual report is prepared to report collective results of revenue and job growth, plus feature Hot 100 businesses success stories.
- On their anniversary date, the Hot 100 businesses are invited to renew their participation in the program annually or to make room for other businesses.
Roles of the Program Partners
Chamber of Commerce
Sponsor and administer the local program
Set up bank, CPA, EDC, and local media sponsorships (10 – 15 at $5,000 each)
- Three –five banks
- Three –five CPA/Acct firms
- Media, EDC, Others
Marketing of the Hot 100 program
- Email announcements
- Press releases
- Newsletter and local media articles
- Direct mail
Coordinate Hot 100 regular events at sponsor or chamber locations
Local Business Advisors/SBDC
- Get licensed to conduct Hot 100 seminars and follow up assistance.
- Conduct free seminars for business owners.
- Provide one-on-one consulting and other training services.
- Provide quarterly and annual reports Promote Hot 100 program to their own clients.
- Training and support of business advisors
- Collect and disperse funds from training to the advisors
- Ongoing development of program tools and marketing materials
- Assist local admin partners
Other Possible Partners in the Project
- Local newspapers
- City and county Economic Development Councils
- Main street associations
- Other local chambers
How to Get Started
- Local partner approval
- Recruit local business advisors
- Signed contract
- Business advisor training
- Start local promotion (not all sponsors needed to launch)
Projected Annual Revenues
$ 99,500 – 100 businesses pay $995 each for the HPE training and follow up
$ 50,000 – 10 local sponsors at $5,000 cash and/or in-kind (15 = $75,000)
Total: $149,500 (15 sponsors = $174,500)
$149,500 Training and Sponsor Revenues and In-kind
1. Local Admin Partner/ Chamber of Commerce
$ 10,000 Local promotion/advertising
$ 5,000 Training materials costs
$ 10,000 Facilities and food
$ 25,000 Administrative and overhead expenses ($50,000 if 15 sponsors)
Local Business Advisors/ SBDC
$ 60,000 Current or contract advisors ($600/yr/business)
(10 hours each business = $60 per hour)
3. HPE Advisors
$ 39,500 HPE Action Plan (ongoing development and maintenance)
Training and support of local advisors and admin partners