Tribal Economic Diversification | Growing Tribal Businesses from Vision to Sustainable Reality
Many tribes are facing the challenges of economic diversification as one of the several means to address high tribal unemployment rates. We can help you meet the big challenges.
WHAT WE DO
New Mexico Community Capital (NMCC) stands ready to assist you in addressing these issues with our “Growing Tribal Businesses” program. We can help with:
- formulating a vision of what to do when a key revenue stream leaves,
- building a plan for economic diversification from the ground up, or
- training tribal members in management skills to move from vision to sustainable reality.
CRITICAL TOOLS WE OFFER
A Fiscal Agent is an established IRS 501(c)(3) tax-exempt organization that agrees to accept donations on behalf of a group that does not have IRS tax exemption. Under this arrangement, a charitable group can solicit donations to support more funding for their organizations. There are many benefits in using an organization like NMCC, that holds a 501(c)(3) tax designation. This includes being a pass-through organization for individual or private foundation tax-deductible contributions, and offering services that support record keeping and oversight for the donations or contributions. To see if our services are a fit with your organization, please contact us using the information below.
A Needs Assessment is a process used to determine priorities, make organizational improvements or allocate resources. It involves determining the needs and gaps between where the organization envisions itself in the future and the organization’s current state. You then develop a plan of action to address the needs (or closing the gaps) to bring the organization closer to its desired future state.
Can you identify the needs or gaps in your organization?
A Financial Model is a tool used to forecast a business’ financial performance into the future. This will help identity solutions to a real-world financial problem.
Do you have an up-to-date three-year financial model?
A Market Analysis creates an assessment, which allows you to determine how suitable a particular market is for your industry. You can use market analysis to evaluate your current market, look at new markets, or analyze your competition. Whether you are a startup, looking to expand, or re-evaluating your current market, a market analysis helps you to identify the attractiveness of a market. It also detects current and future risks of operating in that location.
What does your market look like? Can you identify the market percentage you could capture, and are you currently capturing your full potential market?
Workforce Development is an essential process for organizations that want to cultivate a top-quality workforce. Workforce development works by preparing workers with the skills necessary for a specific type of job. It prioritizes the value of ongoing workplace education and skills development, as well as addresses the hiring demands of employers. Because the goal of workplace development is to place workers in jobs where there are career development opportunities and to nurture that development, a company can ensure they have an adequate supply of qualified individuals for their needs.
Do you have an employee who could benefit from additional training or mentorship ?
A Feasibility Study is an analysis that takes all of a project’s relevant factors into account including economic, technical, legal, and timing considerations to ascertain the likelihood of completing the project successfully. A feasibility study distinguish the pros and cons of undertaking a project before you invest a lot of time and money into it. Feasibility studies also can provide you with crucial information that could prevent your company from entering blindly into risky businesses.
Have you analyzed the risk associated with your next project?
Management Mentorship is a professional relationship in which a mentor assists the participant in developing specific skills and knowledge that will enhance their professional and personal growth. A mentor will: teach the mentee about industry specific issue; coach the mentee on particular skill sets; facilitate the mentee’s growth by sharing resources and networks; challenge the mentee to move beyond his or her comfort zone; and create a safe learning environment.
Do you have a great employee who needs some mentorship to elevate them to the next level?
A Business Plan summarizes the operational and financial objectives of a business and contains the detailed plans and budgets which shows how those objectives are to be realized. Typically, a business plan will contain an industry overview, market analysis, competitive analysis, marketing plan, management plan, operating plan, and financial plan.
Do you have a living business plan that you update on a regular basis?
WHO WE ARE
NMCC is a 501(c)3 non-profit organization. We are staffed by experienced business professionals and entrepreneurs. We come to you as an independent, objective, third party group of advisors, and our only agenda is to assist you in meeting your challenges or opportunities. We provide practical, action-based solutions and offer reasonable fees that are in line with the scope of work we develop together with you. Our team is staffed in accordance with our mission to be an organization “by, for, and about Native Americans.” We understand Native culture and adapt our services to meet the needs of your particular tribal traditions and values.
With our Growing Tribal Businesses initiative, we’re ready to collaborate with you and provide services in the areas of feasibility studies, business plans, financial models, and workforce development. We work with the utmost discretion and want to help you in areas that may be highly sensitive, demand confidentiality, and require real results.
If you are facing the serious challenge of economic diversification, new business entry, management development, or any of the other business situations unique to tribal economic growth, please call for a consultation, free of charge. Together let’s explore ways in which we may add value to the work you are doing. To inquire, please call or email:
Elizabeth Gamboa, Executive Director, 505-924-2820, firstname.lastname@example.org