Each cohort progressing through The Patterson Foundation’s Margin & Mission Ignition (MMI) initiative receives a name to distinguish it from other cohorts. This year’s group is affectionately called the “Phenomenal 5.” On September 26, 2018, this cohort was nothing short of phenomenal when it met for its Knowledge Sharing Session (KSS).
The KSS is an opportunity for each of the organizations going through the MMI process to come together after seven weeks of business planning to learn from each other. Each organization presents a 10–15-minute overview of its earned-income initiative, and the remainder of the time is spent answering a series of previously shared questions about challenges, wins, marketing, branding, structure, etc. The entire purpose is to provide a forum for our groups to share, learn, and dare I say, commiserate.
Up to this point in the process, the groups have worked weekly with the experts from No Margin No Mission to develop an implementable business plan, and each has met weekly with Sara Leonard to begin preparing for a capital raise (startup funding) which will be necessary. None of this work is easy, and there is much homework to do between conference calls.
The amount of work done during the past seven weeks was on display at the KSS. As each team presented and answered questions, they exhibited confidence and had a firm understanding of their earned-income product/service. It was a treat to listen as each of the “Phenomenal 5” shared their plans for building their businesses.
Phenomenal 5 – MMI2018
● Beyond the Spectrum
● Big Cat Habitat and Gulf Coast Sanctuary
● Manatee County Habitat for Humanity
● Visual Arts Center (Punta Gorda)
These groups are only about ¼ of the way through fully implementing their earned-income product/service. Each has nearly seven more weeks of business planning coaching (the result will be a well-vetted business plan), followed by a capital raise called the Fast Pitch, followed by more than three months of implementation coaching. It is one thing to write a business plan and an entirely different thing to implement it.
We look forward to watching the “Phenomenal 5” continue to impress.