FOR IMMEDIATE RELEASE
August 28, 2017
CONTACT
Tim Thoelecke
InOut Labs
847-657-7900
InOut Labs President Completes Goldman Sachs 10,000 Small Businesses Entrepreneurship Program
Tim Thoelecke Jr. welcomed into elite alumni group of the Goldman Sachs’ 10,000 Small Business program
Chicago, Illinois— August 28, 2017 – InOut Labs , a national provider of employee drug testing services, is pleased to announce that its President and CEO, Tim Thoelecke, Jr. recently completed Goldman Sachs’ 10,000 Small Business program, an elite entrepreneurship training program created by Babson College and conducted by the business school faculty at Harold Washington College. He is among 24 entrepreneurs who graduated on August 18, 2017 as part of Chicago Cohort 18. Goldman Sachs’ 10,000 Small Businesses is a national program created to help entrepreneurs create jobs and economic opportunity by providing greater access to education, capital, and business support services. The Cohort 18 graduates spent more than 100 classroom hours and considerable time outside class, and each completed a growth plan for his or her own business.
Tim Thoelecke on the Impact of the 10,000 Small Businesses Program
InOut Labs President and CEO, Tim Thoelecke states, “The 10,000 Small Business program is a really focused boot camp for entrepreneurs that provided me with strategies and tactics that I was able to immediately implement in the business, and allowed me to network and learn from impressive CEOs around Chicagoland. I highly recommend this program to fellow entrepreneurs who want to take their company to the next level.”
Goldman Sachs and Babson College: A Strong Partnership for Entrepreneurs
Harold Washington College, part of the City Colleges of Chicago, has been partnering with Goldman Sachs and Babson College on the 10,000 Small Businesses program since 2010. So far, it has helped train more than 500 business owners.
Cohort 18 was welcomed into the program on May 10, 2017, by Goldman Sachs CEO Lloyd Blankfein and Chicago Mayor Rahm Emanuel. During that ceremony, Blankfein announced an additional $10 million commitment to the 10,000 Small Businesses (10KSB) program. This investment extends the Chicago program through 2020. Notably, the funding from the Goldman Sachs Foundation builds on an initial $25 million commitment.
Beginning in May 2017, these small business owners participated in a 15-week program. Throughout this period, they connected with peers and collaborated through practical business education. The learning experience was delivered through intense, interactive classroom sessions. Additionally, they spent 4 to 6 hours per week working outside class.
Babson College is widely regarded as the top entrepreneurial education institution in the U.S. Because of its reputation, Goldman Sachs partnered with Babson’s leadership to produce the curriculum. Together, Babson and Goldman Sachs collaborate with community colleges across the country. Their goal is to deliver the program to owners of established businesses that are performing well but aspire to achieve even greater success.
About InOut Labs
InOut Labs empowers businesses and individuals to take control of their own health, safety and productivity by providing world-class drug testing and wellness testing services, while making the customer experience smooth and painless. Founded in 2012, InOut Labs offers more than 1000 tests, and results are always confidential.
Based in the Chicago metro area, InOut Labs serves businesses nationwide with effortless employee drug testing services.
To learn more, please contact InOut Labs at www.inoutlabs.com, by phone at (847) 657-7900, or email [email protected]. InOut Labs is located in Morton Grove, IL, and is a DATIA Accredited Collection Facility.
About Goldman Sachs 10,000 Small Businesses
Goldman Sachs 10,000 Small Businesses is built on the widely accepted belief of leading experts. They emphasize that small businesses grow best when they gain greater access to education, capital, and support services.
An Advisory Council provides strategic guidance for the 10,000 Small Businesses program. Babson President Kerry Healey plays a key role on this council. Additionally, the council is co-chaired by several prominent leaders. These include Goldman Sachs chairman and CEO Lloyd C. Blankfein, Bloomberg L.P. founder and former New York City Mayor Michael R. Bloomberg, and Berkshire Hathaway chairman and CEO Warren Buffett. Furthermore, Dr. Michael Porter from the Initiative for a Competitive Inner City also co-chairs the council.
The program benefits from contributions by other influential organizations. For example, both the National Urban League and the U.S. Hispanic Chamber of Commerce serve on the Advisory Council. Many other groups also participate, ensuring diverse perspectives in shaping the initiative.
10,000 Small Businesses provides several valuable resources to qualified business owners. First, participants receive expert guidance to create a customized growth plan. This plan includes opportunity identification, feasibility analysis, financial management, leadership, negotiations, and marketing.
Second, business owners gain access to personalized, one-on-one counseling. Additionally, they benefit from a strong network of peer support. This network includes fellow small business owners and respected leaders from the business world.
Entrepreneurs interested in this transformative business and management education program should take the next step. To apply, visit 10KSBapply.com and begin the journey toward business growth.
About Babson College
Babson College is the educator, convener, and thought leader for Entrepreneurship of All Kinds®. The top-ranked college for entrepreneurship education, Babson is a dynamic living and learning laboratory where students, faculty, and staff work together to address the real-world problems of business and society. Babson prepares the entrepreneurial leaders our world needs most: those with strong functional knowledge and the skills and vision to navigate change, accommodate ambiguity, surmount complexity, and motivate teams in a common purpose to make a difference in the world, and have an impact on organizations of all sizes and types. As they have for nearly a half-century, Babson continues to advance Entrepreneurial Thought & Action® as the most positive force on the planet for generating sustainable economic and social value.
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