Former Perrigo Co. Chairman and CEO Mike Jandernoa is leading efforts to launch a new mentoring initiative to help entrepreneurs of small businesses expand their companies.
Jandernoa says he has formed Jandernoa Entrepreneurial Mentoring to "help successful entrepreneurs take their businesses to the next level."
Jandernoa told Rapid Growth Media that small business owners need more intense guidance than in the past because of the challenges they face in deciding their next moves. "It's such a tougher environment than it was just a couple of years ago."
In Washington, uncertainty swirls around health care and tax issues, adds Jandernoa, co-founder of Bridge Street Capital Partners LLC of Grand Rapids and former board member of the Michigan Economic Development Corp. Banks that have been hit with heavy losses in the past few years have raised lending requirements needed capital.
"It hasn't been a welcoming environment," Jandernoa says. "We need to help them work through those issues . . . and look at ways to mitigate those risks."
To qualify for the three-year program, mentees' organizations must have at least $1 million in annual sales, employ at least five workers and agree to contribute $3,500 each year toward the program.
Jandernoa says he will step down from some of the civic and community boards where he serves to dedicate the time needed to launch JEM. He and his wife, Sue, will provide a $100,000 startup grant to fund the program's development.
He will start by qualifying mentors, developing a training program, establishing requirements and defining the application process for mentees. About 10 business leaders have stepped forward so far to serve as mentees, he says. Others will be recruited by other business leaders who will agree to serve as a coach, problem-solver and sounding board.
JEM will be based in Grand Rapids and serve the West Michigan region. Hopes are to have 36 mentors matched up with mentees by late summer or early fall.
The launch is partly a result of Jandernoa's role as co-chair of Business Leaders for Michigan who are working on a Michigan Turnaround Plan to accelerate job growth. JEM will be modeled after the well-established Helzberg Entrepreneurial Mentoring Program in Kansas City, MO.
Those interested in being a mentor or mentee can request more information by e-mailing JEM at [email protected].
Sources: Mike Jandernoa of Jandernoa Entrepreneurial Mentoring
Sharon Hanks is editor of innovation and jobs news for Rapid Growth Media. She can be reached at [email protected]
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