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).
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
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.
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.
Who is eligible to participate and what is the selection process?
Eligible for-profit and nonprofit small businesses (the “pool of grantees”) must be either:
NCIFCares II grantees
NCIFCares I grantees that meet NCIFCares II requirements, which are confirmed via completion of the online application with sponsorship by a NCIF Network Bank. This includes providing the required documents and meeting the commitments and terms and conditions of NCIFCares II.
Pilot Coaching Cohort: NCIF and the Rustandy Center will select from the pool of grantees those that will participate in the pilot coaching cohort, including the completion of two business surveys at coaching completion and six months post-completion.
Grantees Only: Those grantees not offered coaching may be offered the opportunity in a future cohort. NCIF will request that these grantees participate in two business surveys approximately 3 months and 9 months post-grant award to follow their business performance since grant application.
How and when is the coaching delivered?
Coaching will begin mid-September and conclude no later than December 31, 2021. We encourage the business owner to invite another team member to participate in some or all of the sessions with the coach.
Sessions will be conducted via video conferencing or telephone calls, with additional interactions via email and other virtual communication channels.
A client project manager from Grow Movement will regularly check in with the small business and coach to help facilitate the relationship and support the coaching plan. Both NCIF and the NCIF Network Banks will also provide support.
What are the commitments of coaching?
August 2021
Needs Assessments: Small businesses in the coaching cohort will be interviewed to discuss future business needs and to identify 3-5 areas of focus, one of which will be selected by the business and coach.
September 2021
Coaching Plan: The coach and small business will outline a coaching plan for the area of focus to identify goals and activities to occur during the coaching period. The coaching plan will serve as a guide; through dialogue and feedback, activities will be modified as needed with continued focus on improving business outcomes in the primary area of focus.
September - December, 2021
Coaching Commitments:
10 sessions over 3-4 months
Weekly sessions; minimum of 2 sessions per month
Approximately 2-3 hours per session, including 1-1.5 hour for session and 1 hours for research, action and preparation between sessions.
December 2021 - September 2022
Business Surveys:
Coaching Cohort: Complete a business survey upon coaching completion and at approximately 6 months post-completion
Grantees-only: Complete business survey approximately 3 months post-grant and at 9 months post-grant
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.