Tameka Montgomery was appointed by President Obama to lead the Office of Entrepreneurial Development at the U.S. Small Business Administration. In her capacity as Associate Administrator, she is charged with driving programs and policies that support national entrepreneurial training and education programs such as Small Business Development Centers, Women’s Business Centers, Regional Innovation Clusters, ScaleUp America, online education and the national SCORE mentoring program.
In this episode, we discussed a lot and I asked Tameka several questions, including:
- [03:10] Could you tell us a little about what it is that you do in your day to day at SBA?
- [05:50] What have been the biggest lessons you have learned about yourself during the term of this appointment?
- [07:00] Could you maybe dispel the myth about SBA providing direct funds and loans, and maybe explain a few of the ways the SBA is able to assist a startup & existing business with getting access to capital?
- [08:45] What % of SBA guaranteed loans are going to minority and women owned businesses?
- [11:45] How can we go about gaining access to SBA guaranteed loans / funding?
- [13:20] How can we connect with local Small Business Development Centers?
- [13:55] Are these local centers and agencies independent of the Small Business Administration?
- [14:15] The costs of working with business advisors through SBA and their partner resource agencies
- [15:30] The scope of the resources available to individuals locally across the U.S.
- [17:15] Tell us about some of the biggest mistakes you’ve seen entrepreneurs making as it relates to marketing their business?
- [18:30] Are Small Business Development Centers able to assist with the market research needs of business owners?
- [20:00] What are some effective strategies that you and your team have been able to work with businesses across the country and help them not only experience staying power, but help them grow steadily over time?
- [22:30] What would be 2 or 3 fundamental lessons you’d want me to take hold of in the process of that pivot to entrepreneurship? How can I begin to lay the right foundation to grow and succeed on my entrepreneurial journey?
- [27:00] What’s next for you? Are there any big goals and plans on your vision board that you’d care to share with us?
Links and resources mentioned:
- Small Business Administration website
- Tameka Montgomery on LinkedIn
- Tameka’s Fav Resource: Trip Case App
- Tameka’s Fav Books:
Tameka Montgomery Bio
Associate Administrator, Office of Entrepreneurial Development US Small Business Administration.
In 2013, Tameka Montgomery was appointed by President Obama to lead the Office of Entrepreneurial Development at the U.S. Small Business Administration. In her capacity as Associate Administrator, she is charged with driving programs and policies that support national entrepreneurial training and education programs such as Small Business Development Centers, Women’s Business Centers, Regional Innovation Clusters, ScaleUp America, online education and the national SCORE mentoring program. Ms. Montgomery believes that small businesses truly are the economic backbone of our nation. She has a passion for equipping individuals with the tools needed to achieve the American Dream of building a successful and thriving small business.
Prior to her appointment, Ms. Montgomery was the executive director of the Denver Metro Chamber Leadership Foundation as well as the executive director of the nationally recognized Denver Metro Small Business Development Center (Denver Metro SBDC) for more than seven years. While there, she provided vision, leadership and strategic direction to develop and deliver programming and services for small businesses. Under Montgomery’s leadership, the Denver Metro SBDC also received national recognition by SBA as the 2012 National SBDC of the Year and winner of the 2012 SBDC Excellence and Prior to the Denver Metro SBDC, Montgomery launched a business incubator that provided low-cost office space, business support services and technical assistance to area entrepreneurs.
Montgomery was named one of Denver Business Journal’s Forty under 40 in 2011. She was recognized as a Living Legend by the National Council of Negro Women in 2012. Ms. Montgomery initially began her federal service as a Presidential Management Fellow with the U.S. Department of Justice. She was also a Peace Corps Volunteer, serving two years in West Africa.
Tameka holds a bachelor’s degree from Spelman College and a master’s degree of public administration from Columbia University. In May 2012, Johnson & Wales University conferred upon Montgomery an honorary doctorate of business administration in entrepreneurship.
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