Need Answers?

Running a successful business is really hard; it’s complicated, requires in-depth knowledge of multiple disciplines, and it’s lonely. Where do you get answers to your questions? How do you solve the challenges that you face every day?

There are thousands of different sources that publish the “Top 10 Rules for Running Your Business.” A business owner can easily be overwhelmed trying to decipher which “rules” are top 10 for them. Well-meaning but vague directives such as, “Hire slow. Fire Fast!” ”Know your customer!” “Don’t ignore the balance sheet!” provide awareness, but not “know how."

How do you acquire the “Know How?”

The Business Owner’s MBA, or BOMBA.

The Business Owner’s MBA provides business owners with a practical business education that is concrete and hands on, not just theoretical or academic. BOMBA imparts this knowledge through a comprehensive business curriculum offered in an interactive setting among a selected peer group of qualified business owners.

How It Works.

Learning and studying in groups helps people learn more effectively which has been consistently demonstrated in more than 30 years of formal academic study. Anecdotally, years of successful BOMBA graduates agree that the peer-study element of BOMBA was the key to their success.

The Business Owner’s MBA is an interactive, peer-study process that promotes collaboration, community and confidence. BOMBA’s peer group members provide one another with a built-in support system, structure and accountability – three things that are sometimes missing in a business owner’s life.

Who we serve: We accept all business owners willing to work hard, complete the homework, and openly participate in the discussions. Our years of working with business owners has demonstrated that we do our best work when certain criteria, described below, are met.

These include:

Company Size: Criteria for acceptance is what we call “555”. BOMBA participants have been in business for at least 5 years, have at least 5 employees and not less than $500K in annual revenue (the average company size is between $2million and $5million).

Companies in Every Industry: Business owners represent primarily second-stage companies in a variety of industries, including professional services, manufacturing, construction, industrial, retail, hospitality and restaurants, franchisees, law, medical.

The Right Participants with the Right Mindset: Business owners must have a strong desire to grow their business and the discipline to commit time to working ‘on’ their business each month instead of ‘in’ it. If you have a mission of growing your business, we can help you. If you don’t have a strong desire to grow your company or the ability to commit to BOMBA’s curriculum, this program is not for you. BOMBA alumni credit consistent attendance, participation in all exercises and taking advantage of monthly coaching sessions with their success in the program.
BOMBA is also the only peer group program that encourages partners or two C-suite executives to participate in BOMBA together. They each complete the homework independently and contribute to the cohort discussions based on their perception of the business. This inevitably uncovers gaps and inconsistencies in their understanding of the company’s management and enables them to find solutions before the need arises in a crisis situation.

BOMBA’s “Cohort” Structure: BOMBA is an interactive, peer-study process that promotes collaboration, community and confidence. BOMBA’s peer groups, aka “cohorts” provide one another with a built-in support system, structure and accountability – three things that are sometimes missing in a business owner’s life.
BOMBA cohorts consist of 10 or less businesses at non-competing companies lead by BOMBA faculty – experienced entrepreneurs and business leaders. Vertically integrated business relationships are welcomed and typically outperform stand alone companies’ results.
Learning and studying in groups helps people learn more effectively which has been consistently demonstrated in more than 30 years of formal academic study. Anecdotally, years of successful BOMBA graduates agree that the peer-study element of BOMBA was the key to their success.

Time Commitment: BOMBA’s curriculum lasts 12 months and includes:

  • One monthly three-hour peer group meeting
  • One monthly Executive Coaching session to assist in problem solving, address urgent needs, provide clarity around exercises
  • One monthly conference call with cohorts to discuss current exercises

Location: BOMBA classes are held in a professional conference setting and groups meet in an area central to the participants.

BOMBA BENEFITS.

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IMPROVE PROFITABILITY

BOMBA business owners, on average, double their bottom line.

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BUILD CONFIDENCE

BOMBA business owners are confident in their decisions having learned from others’ challenges.

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INCREASED REVENUE

BOMBA business owners typically grow revenue by 30% to 40%.

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UPGRADE LEADERSHIP SKILLS

BOMBA business owners discuss best practices for handling all business challenges.

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MITIGATE RISK

BOMBA business owners learn strategic risk management tactics to minimize their exposure.

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HANDS-ON APPROACH

BOMBA business owners actively participate and hold each other accountable.

Curriculum.

The Business Owner’s MBA curriculum was created by an entrepreneur, an executive, a banker, an academic and a coach. The entrepreneur started, managed, grew and sold two multi-million dollar businesses; the executive has been a top middle market banker for more than 30 years; the academic earned Dartmouth and Harvard degrees and teaches classes at SMU and for the Goldman Sachs 10,000 Small Business program; and the coach earned a professional coaching certificate from UTD and is the parent of five children.

BOMBA’s curriculum was developed with a great deal of expertise, knowledge and consideration for virtually any business owner. “Necessity is the mother of invention.” As a business owner, the founder wanted a program like this to avoid mistakes and accelerate success.

BOMBA’s curriculum follows a standard MBA schedule with discussions and exercises around Financial Ratios, Social Media Marketing, Organizational Development, Leadership, Teamwork and Exit Strategies.

Faculty.

Deb Purvin

Founder and Instructor

Ralph Mulkey

Instructor

Mary Jane Anderson

Instructor

Lin O'Neill

Instructor

BOMBA 4% - For Women Business Owners.

More than 9.4 million firms in America are owned by women, however, only 4% of those firms have revenue of $1 million or more, according to the most recent report from NAWBO (National Organization of Women Business Owners).

BOMBA offers a women-only peer group called “4%” which covers the same curriculum as all other BOMBA classes, but provides awareness and solutions specific to this group. It is well recognized that women face different challenges in growing their companies such as access to capital (debt and equity) and access to information in order to compete.

For this reason, class criteria for 4% is 4/4/4 which means at least 4 years in current business, at least 4 employees and at least $400,000 in annual revenue. Peer groups will represent different non-competing industries, different ages, races and ethnicities, but will only include women.

Historically, the Women in Business peer groups have performed as well as the other BOMBA cohorts. Some women prefer the comfort of an all women’s group, while others chose to participate in the general BOMBA program. The choice is up to the business owner.

Pricing.

The Business Owner’s MBA is priced to be affordable; the year-long class is $5,000 or $500/month. Many business owners prefer to pay the tuition monthly to match cash flow; monthly tuition is auto-debited on the first Tuesday of each month.

BOMBA offers scholarships and payment plans to those who would like to take the class, but don’t feel that their cash flow is currently sufficient. This can be discussed on an individual basis. Also, group discounts can be arranged.

Finally, BOMBA pays referral fees. If you are enrolled in BOMBA and recommend another business that joins a cohort, you will receive a tuition-free month. There are no limits on your referrals. One BOMBA business owner put together an entire group and paid nothing for the program.

If you are not enrolled, a referral fee will be paid equal to the monthly tuition.