Two Dubuque business owners among inaugural group: Goldman Sachs 10,000 Small Businesses

Monday, March 18, 2019

DUBUQUE – Two Dubuque business owners are among a group of 37 Iowans selected for the inaugural Iowa class of Goldman Sachs 10,000 Small Businesses. Business owners Tom Rauen, of Envision Sports Designs, and Luke Hoffmann, of Higley Industries Inc, are participating in the program to enhance their business knowledge and grow their companies.

Through the business development program, Rauen and Hoffmann are completing advanced coursework at Des Moines Area Community College (DMACC) and online. The three-month Small Businesses program, which will conclude in April, covers everything from identifying growth opportunities, refining operations processes, marketing and selling, understanding and using financial statements, and leadership training.

“It’s quite the honor to be chosen for such an elite group and especially being the first cohort in Iowa,” Hoffmann expressed. “We have done two face-to-face sessions and numerous online sessions so far. The program has really forced me to slow down and think critically about our business operations, and the plan for growth in both the short-term and long-term.”

Higley Industries, located at 585 Huff St. in Dubuque, manufactures cleaning products and floor finishes, producing and packaging hundreds of products for industrial, janitorial and retail markets. The company employs seven full-time personnel in Dubuque.

“The structure of the 10,000 Small Businesses program has developed critical thinking skills that will be used in each decision moving forward as we expand into new markets or acquire other companies. We have placed our main emphasis in the program on the implementation of a new regional launch of our professional vehicle cleaning products. I’m confident it will be a success,” said Hoffmann.

Rauen, who leads Envision Sports Designs and 35 employees, is in agreement on the merits and results of the 10,000 Small Businesses program. Envision, located at 4099 McDonald Dr. in Dubuque, offers screen printing and embroidery custom apparel for schools, sports teams, events and businesses.

“I am honored and fortunate to be part of this program. We've been growing pretty fast the past couple of years, most recently landing on the Inc. 5000 list of fastest growing companies in America. The timing of this worked out well as we move into our new headquarters and production facility and ramp up to another level of growth,” Rauen explained.

Both Dubuque-area natives have worked closely with the Iowa Small Business Development Center and Jay Wickham, regional director, on business counseling and development. Northeast Iowa Community College recruited Hoffmann, Rauen and Decorah Sogo Snacks business owner, Dan Bellrichard, for the Goldman Sachs program.

As successful owners who are managing growing businesses, Rauen and Hoffmann offered advice for future entrepreneurs.

“Starting off at the age of 23, I didn't know or was a little timid to ask others for help. As a business owner, there isn't an instruction manual to rely on, so your best source of help and advice is from other business owners who have been through the trenches and often times learned the hard way on different things,” Rauen shared. “Once I realized other entrepreneurs want everyone to find success, and they were open and willing to answer questions, it made navigating the growth of our company a little easier.”

Hoffmann knows that self-employed success is a blend of learning, hard work and vision. “Being an entrepreneur has its benefits, but it can definitely be many late nights and weekends. As we are now three years into Higley, the long-term benefits far outweigh the headaches. It’s extremely satisfying to know you are helping customers solve problems no one else can, or supporting employees’ families, or even being able to give back to local non-profits because of the work we do,” Hoffmann added.

Dan Bellrichard, of Decorah, was the third northeast Iowan selected for the program. He is the co-owner of Sogo Snacks with his wife, Liza. Sogo Snacks is a healthy meat snacks business that serves the organic foods market.

Since the inception of Goldman Sachs 10,000 Small Businesses, the national program has been a tremendous success. Sixty-seven percent of alumni report increased revenues six months after graduating, 47 percent report hiring employees during the same time period and nearly 88 percent of graduates do business with one another.