Hustle Tucson - The what and why
By 4Tucson 1-5-2023
According to data from the Bureau of Labor Statics approximately 20% of new businesses failed during the first two years of being open, 45% during the first five years, and 65% during the first 10 years. Only 25% of new businesses make it to 15 years or more.
To summarize the Bureau of Labor data: more than 65% of businesses fail within their first ten years of business. Most people may not be aware businesses fail at an alarming rate. Small businesses are vital to our community’s economy.
Over the last year Tucson has seen several local businesses closed due to various reasons. Tucson businessman, 4Tucson Founder, and previous CEO Mark Harris stated. “The failure rate of businesses in Tucson is unacceptable. We must help people be successful.” The closure of local businesses in Tucson causes a ripple in our economy.
Another way to view the above statement is less than 25% of businesses succeed. What is the difference between those that succeed and those that fail?
This is a question new 4Tucson CEO LaKisha Deon, MBA, asked when comparing the success rate of businesses in Tucson. LaKisha stated, “There are certain foundational truths that successful businesses have, which is demonstrated in the disciple and support new business owners have access to. 4Tucson sought out proven programs of success that practices foundational truths consistent in successful businesses.”
The program LaKisha is referring to is Hustle USA. 4Tucson launched its first Hustle 101 cohort this fall and celebrated the graduates and Pitch Night winners on December 1, 2022. With the support of the HS Lopez Foundation grant, 4Tucson partnered with Hustle USA and bring their proven record of success to Tucson.
As a result of completing the first cohort, 4Tucson was able to invest into the two winners from the December 1st Pitch Night celebration. LaKisha is excited to see what the future holds as 4Tucson plans for the next two (one English and one Spanish) cohorts to start in February 2023. “In my new role as 4Tucson CEO it brings me joy to see a program that will assist with growing our business community. We look forward to seeing 100 new businesses in Tucson come through Hustle 101. On average small businesses hire 2.5 employees. This will result in creating 250 new jobs in Southern Arizona.” LaKisha went on to say that Hustle will not replace the current resources that the Tucson Office of Economic Initiatives and other nonprofits provide. It is an additional resource to fit the needs of entrepreneurs living in poverty, who lack the social, financial, and intellectual capital to flourish as a business owner in our current economy.
Hustle TUC 101 is a 13-week business development program, which pairs aspiring entrepreneurs with business mentors who help put the entrepreneurs’ ideas into action and turn a passion into a sustainable and thriving business.
Volunteer business professionals will challenge budding entrepreneurs to think through your business model and create a plan to validate their business or business idea within weekly business mentor guided classes. Participants will leave the Hustle TUC 101 program with a deeper understanding of how to start or scale a successful business.
Hustle TUC 101 takes place in an interactive workshop setting that includes weekly guest speakers and facilitators that will teach the curriculum and facilitate group discussions.
What Participants Will Learn
• Discover their personal “why”
• Street smarts
• Restorative hustling
• Benefits of business
• Understanding your customers
• Relationships and channels
• Accounting for growth
• Marketing Pitch
Ways to Support
• Be a Guest speaker
• Be a Program sponsor
Who Is 4Tucson
4Tucson is a Christian nonprofit organization who seeks to help people Discover their Purpose, Make Friends, and Make a Difference in Tucson.
At 4Tucson, we do things together for best practices and influence. We are excited to partner with Hustle USA to bring Hustle TUC 101 entrepreneurship training to Tucson. The goal 4Tucson has for this nationally recognized program is to strengthen our economy by empowering entrepreneurs to develop thriving small businesses based on biblical principles so that God’s peace and prosperity are experienced by all generations.
For upcoming Hustle Tucson Opportunities and Information, click HERE! Or fill out our “contact me” form by clicking the button below: