So I’ve Been Accepted Into the Impact Lab Program. What Should I Expect?
That “first-day” feeling always gives us the jitters – especially when we don’t know exactly what we’re getting into. If you’re considering applying – or perhaps you already got accepted – into the Impact Lab, congratulations! This next chapter is sure to be an exciting season of change for you. But it doesn’t take away from the nerves! (Especially when you know you’re going to be talking about, cough, money).
In an attempt to queue you in on exactly what to expect in the coming weeks, here are some frequently asked questions about our Impact Lab Program.
(But remember, if you have any more questions, please don’t hesitate to ask! You can email Olivia at olivia@missionedge.org.)
How much time will I need to commit weekly?
Time is your greatest asset, so it’s helpful to know how much you’ll be spending with us!
When you get into the Impact Lab, you will meet with your CFO for one hour per week at a time that works for you. Your CFO may give you “homework” or small tasks to work on before you meet again. You will be given the opportunity to attend three two-hour Mastermind sessions on Wednesdays, held durings weeks two, four, and six.
How prepared should I be when meeting with my CFO?
Your CFO will meet you where you’re at! Before the first meeting, you don’t need to take any action. Your CFO may give you resources, book or podcast recs, or other suggested activities to complete during your time together.
What are the Mastermind sessions?
Mastermind sessions are virtual sessions, designed to provide networking and learning opportunities. They are two hours long, and you will have a chance to speak one-on-one or in small groups with other entrepreneurs. During some sessions, you will share challenges you are facing in your business and receive advice from your peers. In other sessions, you will learn from a subject matter expert about a topic relating to entrepreneurship- (legal, technology, marketing, sales, customer relations, etc.)
Do I need to have my camera on?
Yes, please! These virtual events are designed to encourage interaction and connection. You will be expected to speak and participate throughout the sessions.
Are there any in-person events?
Community networking events in San Diego will be organized – but it’s never required for you to show up.
Can my business partner attend meetings?
Yes, we encourage them to do so.
What does the Impact Lab schedule look like?
Week 0: One hour Kickoff call on Zoom, where you will meet all other entrepreneurs and introduce yourself and your business. You will also meet your CFO in a breakout room and get to ask any questions.
Weeks 1-8: One hour per week on Zoom with your finance expert, or CFO. This meeting can include looking at Quickbooks, talking about how to generate sales, setting goals, overcoming burnout, updating pricing structure, etc.
Remember, you do not need to “clean up” your accounting before the first meeting; the CFO will meet you exactly where you are at.
What do the “Masterminds” look like?
All our mastermind sessions are now held on Remo, a virtual meeting platform. You can get acquainted ahead of time here!
Mastermind 1: Typically a group sharing session, in groups of 6-8 people. Here, you will be able to share challenges you face in your business and ask for advice and resources.
Mastermind 2: In this session we’ll discuss financial literacy. Here, we use an interactive worksheet to explore the emotional relationship we have with money. You’ll learn about how these elements affect entrepreneurs' ability to maximize profitability. This session allows you to share in small groups of 2-3.
Mastermind 3: Learning Session with Subject Matter Expert. This will be a session to teach about 1-2 of the following topics: marketing and sales, legal/customer relations, burnout/stress, or tech.
Have specific questions about the Impact Lab or want to apply?
Click the link below to apply!
Want to keep the inspiration going? Read more success stories.
See how Impact Lab could help you gain financial clarity for your business in 2024
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