Sitka-Based Entrepreneur Gains Direction During Master Class for the New Economy
As daylight dwindled and winter began to set in here in Southeast Alaska, eighteen business owners from all across the region gathered virtually for Spruce Root’s Master Class for the New Economy in November of 2020.
During this three-day workshop, these entrepreneurs engaged with expert presenters and participated in panel discussions on financial planning, strategies for staying afloat, and building leadership skills for entrepreneurs. Participants developed a one-year recovery plan for their business, explored and dispelled internal limiting beliefs around business ownership, became familiar with the latest research on the new economy, learned tools for planning during uncertain times, built mental strength and resilience, and formed valuable connections with a network of expert mentors and Alaskan business owners. Entrepreneurs who successfully completed their recovery plan were eligible to apply for a grant of up to $5,000 from Spruce Root.
Renee Trafton, owner of the beloved Sitka-based seafood spot Beak Restaurant, joined each morning of the workshop with a smile and an open mind.
“Coming into Master Class, I lacked direction. I was unsure of how to spend potential grant money. I was just hoping to figure out temporary mitigation measures I could be taking during times of Covid. I wanted mentorship and guidance to help me understand what I can be doing now to make my business stronger.”
We followed up with Renee in January to find out more about her experience in the workshop and progress she has made since its conclusion. We were delighted to learn that Renee felt “empowered and proactive” to develop her recovery plan and implement the advice she received during the workshop.
“It was helpful for me to connect with other business-oriented people. I particularly enjoyed chatting with Marc Wheeler, [the entrepreneur behind Coppa, a Juneau-based restaurant known for its local ice cream flavors], because we are both in the food industry, but we serve different communities. It was so valuable to be able to learn from other entrepreneurs who know the industry and the region.”
In addition to networking and mentorship, Renee gained direction for her recovery plan. During some of the workshop sessions, Renee remembers being asked, “What is holding you back?” a question that forced her to challenge her own assumptions about herself, her business and the economy. As a result, Renee reevaluated her approach to operating her business during Covid, and decided to focus her efforts on e-commerce sales of holiday merchandise, developing take-and-bake specials for the New Year’s holiday and building a roof extension for the restaurant’s patio to increase outdoor dining capacity.
“The retractable roof cover meets an immediate need for my customers to dine safely. It also meets a future need to provide additional outdoor dining space that can be used even when it is raining here in Sitka, which obviously happens a lot.”
Since the conclusion of the workshop, Renee has developed a comprehensive plan for the renovation which has been approved by her landlord, and she is now working to secure a permit. In the new year, she also received positive feedback from her community about her new take-and-bake items like beef wellington, salmon and parsnips with pesto, and brie and huckleberry jam in puff pastry.
“I want to say thank you to everyone from Master Class for helping me to think differently about operating during Covid and to focus my energy on both long and short term changes I can make. I feel confident now to take on my recovery plan and continue to grow in the new year.”
All of us here at Spruce Root are excited to witness innovative Southeast entrepreneurs like Renee as they navigate through difficult economic times and continue to provide value to their communities.
Thank you to Wells Fargo and the Edgerton Foundation for supporting the 2020 Master Class for the New Economy.
What is Master Class?
A virtual workshop that will provide a dedicated space for Alaskan entrepreneurs to gather for meaningful conversation and strategic planning around how to navigate an uncertain future. Attendees will engage with business, marketing and finance experts, participate in panel discussions, and connect with other small business owners across Southeast Alaska.
What is the cost?
The cost of this workshop is $75. Any applicant that finds the fee to be a financial burden may request a waiver by emailing grow@spruceroot.org.
Why should I apply?
Participants will emerge from the workshop with a growth plan plan, inside knowledge from financial and strategic planning experts, and a network of mentors, community partners, and Alaskan business owners.
What is the time commitment for the workshop?
The workshop will take place virtually from 9:00 AM – 2:00 PM March 16-18, 2021. The exact workshop schedule is tentative, and is subject to change.
Will session recordings be available for those who are interested but don’t have the time to participate?
We may make some session recordings and other resources available to the public but the grant awards are prioritized for those who attended the workshop in its entirety. There will also be future opportunities to attend this and other similar Master Class workshops, so if the timing of this one doesn’t work for you, please get on our mailing list so that you can be informed of future workshops.
Who should apply?
Southeast Alaskan entrepreneurs who have been operating, or actively selling their product or service to customers, for at least one year. Entrepreneurs who are Black, Indigenous, people of color, and/or who are located in rural Alaska (not Juneau or Sitka) are encouraged to apply! Sealaska shareholders that have been operating a business for one year or longer in any location are also encouraged to register.
Are larger, well-established businesses eligible to participate?
Yes! In fact, they are encouraged to participate, as long as they have 50 employees or fewer. Master Class was created to make space for experienced entrepreneurs to reflect, reaffirm, and strategize on their business, as well as to be an opportunity to network and share the depth of their experiences that have come from many years in business. Businesses with 50 employees or fewer, and more than one year in operation are welcome to apply.
My business does not have a business plan. Am I still eligible to participate?
While priority will be given to businesses with a completed business plan, businesses without a business plan are eligible to register.
Are nonprofits eligible?
No, only for-profit businesses are eligible to participate in the workshop and receive the grant funding.
If I have not yet been operational for a full year, am I eligible to participate?
No, businesses must have one full year of operational experience in order to be eligible. Businesses that have less than one year of experience are encouraged to attend our Business Basics workshop, to apply for the Path to Prosperity competition in 2022, or to work one-on-one with one of our business coaches by signing up here.
To find out more and ask any questions, contact us. You’ll find our contact information in the footer of this website.
This is an Equal Opportunity Program. Discrimination is prohibited by Federal Law.