The Power of Partnerships: How Collaboration Can Boost Your Small Business

In the competitive world of small business, forging strong partnerships can be a game-changer. While it might seem counterintuitive, your competition can also be one of your greatest sources of new business. By collaborating with other businesses in your industry, you can share resources, reach new customers, and drive mutual growth.

Partnerships can take many forms, from joint marketing campaigns and co-branding opportunities to sharing distribution channels and pooling expertise. These collaborative efforts not only help in cutting costs but also enhance your market reach and innovation capabilities. Imagine hosting a joint event with a complementary business, where you both benefit from increased foot traffic and shared marketing efforts.

This month, we encourage you to explore the power of industry partnerships and how they can propel your small business to new heights. Embrace the idea that your competition can be an ally in achieving greater success, and unlock new avenues for growth and innovation through these strategic partnerships.

— Pikes Peak SBDC Team

Last month the Pikes Peak SBDC, in collaboration with the Philippine American Chamber of Commerce of Southern Colorado (PACSoCo), launched ASENSO. This business incubator class was specifically curated for immigrant entrepreneurs. 

Congratulations to the Colorado Veterans Business Outreach Center (VBOC) on its one-year anniversary! Learn about how VBOC can assist veterans and military spouses start, purchase or grow a business here.

Congratulations to SBDC staffers Shaula Denton, Lauren Shakes and Brandon Eldridge for completing Colorado’s Basic Economic Development Course last month. Building a strong community starts with great economic strategies, and the SBDC is proud to be part of the ecosystem! And of course, thank you to the Colorado Springs Chamber & EDC for hosting this great training!

We'd like to say thank you again to Visit COS for co-hosting its first co-branded workshop with the Pikes Peak SBDC! We’re looking forward to this ongoing collaboration.

A special thank you to Joint Initiatives and the Colorado Department of Early Childhood (CDEC) for your partnership on last week's Business Summit for Childcare Providers! The event was amazing, and its great to see so many partners coming together to support the childcare needs of our community. 

In 2017, Andrew Dark (Drew), and Dan Wilson were working in the aerospace industry as engineers at Boeing. They told Pikes Peak SBDC Veterans Business Consultant Ron O’Herron that they had a dream to own and operate their own business within that industry, but the concern and security of leaving solid employment, a regular paycheck and benefits, to start something from scratch, caused them to seek outside advice. With the recommendation of an existing SBDC client, they contacted the Pikes Peak SBDC for assistance. There, they met with a fellow veteran and Ron, who was familiar with the aerospace industry.

After several meetings of research, discussions with Ron and Boeing, and detailed planning, they resigned from Boeing and jumped headfirst into the waters of business ownership. Drew and Dan officially formed Ascension Engineering Group, a Service-Disabled Veteran Owned Small Business (SDVOSB).

Drew and Dan have continued their relationship with the SBDC and Ron. Since its start, Ascension Engineering Group has grown and secured numerous aerospace and government-related contracts. Since the company's inception in 2017, it has grown from two employees to well over 50 with annual revenue exceeding $9M. In September 2022, Ascension Engineering Group was acquired by Boecore, a Department of Defense (DoD) aerospace company. Drew, Dan and the legacy employee group remains involved as the business continues to operate and grow in the space and communication arena within the DoD.

Drew credits part of their success to their continuation of working with the SBDC and Ron. He states that the assistance received was instrumental in providing advice and helping them navigate through numerous areas of concern. Drew added that continued consultation served to validate their initial planning and approach, helped address specific business concerns and provided significant feedback that gave them continued confidence in their direction and pursuits.

AT&T She's Connected | July 11 Deadline

Share your small business story for the chance to win $50,000, a year of AT&T service with a new device, and more. Business must be women-owned and have 50 employees or less.

U.S. Chamber of Commerce CO—100 | July 15 Deadline

The CO—100 is an exclusive list of the 100 best and brightest small and mid-sized businesses in America. Ten businesses will receive $2,000 and America's Top Small Business of the Year will be awarded $25,000. All small businesses that make our list will receive brand exposure, exclusive access to top experts and VIP perks.

$25,000 HoneyBook Breakthrough Grant | July 16 Deadline

The Breakthrough Grant is intended to empower 10 early-stage independent marketing and creative professionals with $25,000 in tools, resources, and training to accelerate their growth.

Another great resource is this Grant & Funding Database from our partners at the East Colorado SBDC.

Questions about these grants? Please reach out to Ginelle Curcincita, owner of OroMar Consulting, where she positions entrepreneurs to confidently bring in the money!

As a seasoned strategic management-operations business development consultant with more than 30 years of successful corporate management and consulting experience, Ron O'Herron has extensive knowledge and expertise in both domestic and international business operations. His focus and methodology are structured and directed at helping business operations and people, research, plan and implement both short and long-term goals for both personal and business successful growth. He has worked with companies ranging in size from $250 thousand to $500 million in annual revenues.  His industry exposure includes Aerospace, Luxury Boat Manufacturing, Banking, Forensic Structural Engineering, Government Contracting, Metal Fabrication, Oil & Gas, Plastics Manufacturing and Telecommunications. Ron was honored as the Colorado SBDC Consultant of the Year for 2015.

Ron grew up and graduated from college in Iowa, which he attended on a football scholarship and received his Bachelor’s Degree in Business. He later enhanced his education with Management MBA’s in Business Law from Cornell and Strategic Business Management from Michigan. After college he served as a platoon leader in Vietnam (68-69’), with the 1st Armored Cavalry. Prior to going into the consulting arena, he spent 10 years as the president of an International Electronic Capital Equipment Manufacturing company with 15 domestic offices, 1 in Canada and 5 in Europe. He and his wife Sheri are avid outdoor people with four children and eight grandchildren.

Q: In your experience, what are the most common hurdles that small businesses face when trying to grow or expand?

A: Capital needs, marketing, and Government Contracting

Q: Small business owners often wear many hats. How do you advise them on prioritizing tasks and responsibilities to ensure long-term success?

A: Developing specific goals with identified Action Steps.

Q: The business landscape is rapidly changing. How do you assist small businesses in staying adaptable and innovative in the face of evolving market trends?

A: Constant review of market conditions and customer needs. Awareness of competitors and effect the economy has on the market.

Q: Could you share a piece of advice that you find yourself giving to entrepreneurs time and time again? Something that's universally valuable for anyone starting or running a small business?

A: Ask the client the following questions: What will the business provide that will add significant needed value to the customer? What do you do that makes the business better than the competition?

Q: Favorite place you have traveled to?

A: Ireland

Q: Any recent hobby discoveries you’d like to share?

A: Grandkids

Q: A book that’s had a lasting impact on your work

A: “Fighting Back” by Rocky Bleier

Visit Colorado Springs’s mission is to create economic vitality through memorable visits to the wonders of Colorado Springs and the Pikes Peak Region. They increase awareness of the region and inspire travel by marketing to families, groups, and organizations through direct sales, the Internet, advertising, and public relations.