Frequently Asked Questions
1. What is the time commitment of an NYPACE project?
The time commitment for an NYPACE project varies depending on the stage and details of the project. In the beginning of the project, a member can expect a few hours per week as the advisors work to familiarize themselves with the entrepreneur’s business and industry. As the project progresses and a more definitive path is apparent, the time commitment may increase. For example, if a volunteer is working with an entrepreneur on a business plan and an upcoming pitch for a community organization, the volunteer’s hours may increase. The volunteer should be flexible and able to commit a few hours per week to the project. NYPACE understands that its volunteers have demanding time professional commitments and works to accommodate its volunteer advisors while also ensuring that an entrepreneur is being properly served.
2. What time are meetings typically scheduled?
Meetings are scheduled for days and times that work best for both the entrepreneur and the advisor team. Although there are no set guidelines, most meetings and calls take place before or after work – that way, there is a lower probability of having to cancel or reschedule due to a busy day. Weekends are also a good time to arrange a meeting for that same reason.
3. How does NYPACE decide which entrepreneurs to work with?
NYPACE sources entrepreneurs by working collaboratively with local New York microfinance organizations and by evaluating applications sent directly through its website to find entrepreneurs with promising small businesses that could use the skills of NYPACE’s volunteers. The entrepreneurs are then evaluated based on several criteria, including size, markets served, and their business plan, among others, to judge if NYPACE would be an appropriate fit. NYPACE seeks to help small businesses in under-served communities and uses the application process to ensure that this mission is fulfilled.
4. I’ve submitted my advisor application. What happens now?
Once an advisor application is submitted, NYPACE reviews the application to ensure that applicants have skills that will be helpful to small business entrepreneurs. Knowledge of accounting, finance, real estate, technology and marketing are generally sought, though other skills may also be useful. NYPACE seeks to match the skills of its advisor pool with the needs of its small business entrepreneurs. Typically, advisors are put onto a project as soon as possible, though there may be a wait time between when an advisor submits his/her application and when an entrepreneur is in need of an applicant’s particular skill set.
5. Can I choose the entrepreneur and the advisor team that I work with?
Once you submit your NYPACE Advisor application, NYPACE will group you with other advisors and will assign your team to an entrepreneur that has expressed interest in working with NYPACE. NYPACE’s aim is to create advisor teams whose professional skill sets are both complementary and directly relevant to the needs of the entrepreneur. If you are interested in working with certain other individuals as an advisory team or if you are familiar with a particular entrepreneur whose project you would like to be assigned to, please make note of this on the “Anything Else About You We Should Know” portion of the application and we will do our best to accommodate your request.
6. I’m done with my project. Can I work on another one?
NYPACE strongly encourages advisors to continue their involvement in NYPACE by working on multiple projects. Once you have completed your project, please indicate to our Executive Director, Stephanie George, at firstname.lastname@example.org that you are interested in working on another project. Upon doing this, you will be put back into the advisor queue and contacted once a new project becomes available.
Please help us support more community entrepreneurs by making a contribution to NYPACE. You can make a donation by clicking the donate button above.
Thank you for your support!
Stephanie George, Executive Director & the NYPACE Board of Directors
Email us for more information: email@example.com
Joy Hibbert of Love Joy Sweet Treats