unleashing
national impact
igniting local
transformation
Mitchell Fox approached America's SBDC Iowa, seeking ways to transform his idea into a fully functional app that tracked land, weather conditions, and hunting opportunities. With no prior knowledge of the app development industry, Fox needed assistance connecting with the necessary resources. One of his biggest challenges was finding an app developer who fit his needs and the needs of his future customer base. Fox also faced challenges with gathering data and modeling it to transfer it to the app.
"Mitchell Kearns helped me take everything one step at a time and prioritize what was important. By working in sprints, he helped motivate me to keep moving forward."
After contacting America's SBDC Iowa in March 2023, Fox was introduced to Mitchell Kearns, the Technology and Commercialization Director. Kearns leads the Rural Business Innovators (RBI) program at America's SBDC Iowa. Through this program and working with Kearns, Fox received individualized counseling sessions for business planning and app development. Fox and Kearns worked together for over a year to reach the launch of LogIQ Hunt. Since then, they have continued working together to help Fox and LogIQ Hunt prosper.
In August 2024, Fox successfully launched LogIQ Hunt. Since the launch, he has continued to work with Kearns as part of the RBI program. This fall, he pitched his business at the RBI Bullpen Day for a panel of judges, placing third.
Sierra Elbert, Shelby Mitchell, and Patricia Pierce - the founders of Groom Curriculum - were presented with an offer from a company that was interested in purchasing Groom Curriculum. They contacted America's SBDC Iowa in May 2024 and needed to have a plan for the potential buyers in June 2024. To prepare for this meeting, the founders sought assistance in determining the company's value. On top of valuing the business, they needed guidance negotiating key aspects such as the upfront sales, salary, and royalty percentage.
"Starting Groom Curriculum sometimes felt like running through a foggy forest, constantly trying to navigate and avoid obstacles. Seeking assistance from the SBDC was like lifting the blanket of fog, giving us the clarity and direction we needed to move forward confidently."
Sierra Elbert primarily worked with Larry Wajda, Northwest Iowa SBDC Regional Director. Through counseling sessions, they worked together to determine the value of Groom Curriculum through various financial projections. Larry also educated the Groom Curriculum team on buy/sell agreements, how they could be structured, and what they would look like for Groom Curriculum. After working with Larry for less than a month, the Groom Curriculum was able to determine the value of the company, forecast projected incomes, and evaluate the positives and risks associated with different scenarios.
Through the assistance provided by the SBDC, the Groom Curriculum team was able to sell a majority of the company to buyers who align with its core mission. After the sale, Sierra and Patricia remained actively involved in the company as employees. This approach has ensured that the heart and soul of Groom Curriculum continue to thrive under new ownership while maintaining its original vision.
