NCIFCares Coaching Program: A Partnership with The Rustandy Center for Social Sector Innovation at the University of Chicago Booth School and Grow Movement

 
 

Coaching Overview

Concurrent with Round Two of our NCIFCares Grant Program, NCIF is launching the NCIFCares Coaching Program – a new kind of remote individualized coaching for small businesses in the U.S. – in collaboration with The Rustandy Center for Social Sector Innovation at the University of Chicago Booth School (Rustandy Center).

  1. NCIFCares II Grants: NCIF will award $5,000 grants to up to eighty (80) small businesses impacted by COVID-19 pandemic and located in/serving low-income populations. NCIF Network Banks will identify up to four (4) small business customers to sponsor. LEARN MORE

  2. NCIFCares Coaching: Of the NCIFCares II grantees and eligible NCIFICares I grantees, NCIF will select fifty (50) small businesses for one-on-one coaching. Each small business will be paired with a business professional to receive 10 individualized, virtual coaching sessions. Coaches support the business owner with strategic change and/or pivoting that grows sales, profits, assets, and employees.

    Coaching is in partnership with the Rustandy Center and Grow Movement, a social enterprise whose coaching methodology and technology supports the program.

  3. Research: University of Chicago and NCIF will conduct research on the efficacy of the NCIFCares Coaching program. The study will focus on identifying the impact of the coaching on small businesses by evaluating changes in financial and impact performance, and the value and influence of a Network Bank. LEARN MORE

    NCIFCares Coaching Program is inspired by path breaking research led by Professor Pradeep Chintagunta at Chicago Booth and co-authors, in partnership with Grow Movement, which demonstrated the effectiveness of this kind of coaching among small businesses in Uganda. NCIF is leveraging Progressor Chintaguna’s expertise to study the efficacy of this coaching model in the U.S.

NCIFCares Grantmaking & Coaching
Grant-making and coaching for small businesses impacted by COVID-19 and serving low-income, minority, and/or underserved communities. NCIF Network Banks may sponsor up to four small business customers.

Screening & Matching
Small business grant recipients selected for coaching will be interviewed to identify needs of the business and 3-5 areas of focus. Volunteer coaches are interviewed and matched to a small business.

Coaching Stage 1: Understanding the Business
The first 2-3 sessions are “get to know the business.” Financial and business information is shared to identify area of focus for coaching. Business owner(s) outline clear, measurable business objectives of strategic importance.

Coaching Stage 2: Understanding the Business
8 sessions on area of focus. Active collaboration, communication, mentoring, and teaching. Assignments given.

Impact Assessment: Evaluating the Benefit
Over a 12-month period, NCIF and its partners will conduct business surveys to study the impact from participating in the NCIFCares Coaching Program. All grantees will asked to complete the surveys.

What are the benefits of coaching?

Benefits may include:

  • Potential outcomes include growth of sales, profits, assets and employees

  • Individualized and needs-based coaching plan

  • Mentoring relationship

Strategic objectives may include:

  • Adapting products or services to customer needs

  • Narrowing a business focus to the most profitable services

  • Raising capital

  • Expanding a product portfolio

  • Evaluating supply chain

  • Improving digital marketing

Who are the coaches and how are they selected?

Volunteer coaches are deeply committed to volunteer service, see value in virtual collaboration and connectivity, and have a desire to help entrepreneurs and small businesses succeed. Coaches will be matched based on their technical expertise and personality fit and the needs of the small business.

The Rustandy Center will lead the recruitment from the following network of business professionals:

  • Chicago Booth MBA alumni

  • Chicago Booth Executive MBA students

  • University of Chicago alumni who meet the minimum qualifications as outlined below

  • Mentors at the Polsky Center for Entrepreneurship and Innovation

Minimum qualifications of the professional populations from which the Rustandy Center will recruit:

  • Minimum 10 years’ corporate or nonprofit experience

  • Business skills and experience in finance, strategy, marketing, operations, business development

  • Communication and soft skills

  • Knowledge of having done business in the United States

Coaching Partners

The Rustandy Center for Social Sector Innovation is the destination at the University of Chicago Booth School of Business for people committed to helping solve complex social and environmental problems. As Chicago Booth’s social impact hub, the Rustandy Center offers hands-on learning opportunities, supports innovative courses, and pursues research—all with the goal of developing people and practices with the potential to solve the world’s biggest problems.

Grow Movement is a UK-based social enterprise that pairs volunteer international business professionals with entrepreneurs to help them build their businesses. Grow Movement provides entrepreneurs and coaches with in-country program managers who share important cross-cultural insights. They have previously implemented this model in East Africa.