Tracey Powell With PEER Center/Tarkenton/gener8tor

Intro: Broadcasting live from the Business RadioX studio in Atlanta, Georgia. It’s time for Atlanta Business Radio, brought to you by Kennesaw State University’s Executive MBA program, the accelerated degree program for working professionals looking to advance their career and enhance their leadership skills. And now, here’s your host.

Lee Kantor: Lee Kantor here, another episode of Atlanta Business Radio. And this is going to be a good one. But before we get started, it’s important to recognize our sponsor, CSU’s executive MBA program. Without them, we couldn’t be sharing these important stories. Today on Atlanta Business Radio, we have Tracy Powell, who is with PEER. Tracy, can you hear me? All right.

Tracey Powell: I can hear you. Great.

Lee Kantor: All right, Tracy, tell us a little bit about the PEER Center. How are you serving folks?

Tracey Powell: We’re serving folks each and every day, one person at a time, to help them be the best versions of themselves financially. But I want to start off just letting you know that the Pinnacle Pier Center stands for Pinnacle Economic Empowerment Resource Center. So we are a full service bank. But in addition to that, we have the Economic Empowerment Resource Center connected to us, where we have a learning center, and we help individuals, as well as small businesses realize the tools necessary and use those tools in order to be successful.

Lee Kantor: So how did you get involved with the Pier Center?

Tracey Powell: I got involved with the Pier Center because I’ve been in banking for over 25 years, and I was actually working my own business, and someone reached out to me and told me that they were going to have a pier center in, in Atlanta and in the Pier Center they were going to be facilitating classes, doing masterminds, working with other agencies, nonprofits and governmental entities that wanted to help businesses start, grow and scale. My background is in facilitating those classes and bringing people together to help them grow their businesses. And so I got involved, starting off as someone that would facilitate those classes. And it turned out that I became the office leader. And so with that, I’ve been able to have a vision that takes us into a space where we’re connected to the community in a way where people are now seeing that we’re here. We are hosting masterminds for businesses and consumers. So we’re helping people understand how money works, what that looks like, how we create, help them create wealth and give them the tools necessary for individuals to actually increase their credit scores, increase their savings, reduce their debt, and become more viable when it comes down to what they look like on paper, so that if they were to apply for a home or if they wanted to start a business, or if they just wanted to get out of the out of debt and give themselves a raise, we help them do that. For small businesses, we have our masterminds where we walk them through the process, understanding how to put the business together the right way the first time so that as you work your business, then you’re able to actually set up a succession plan or whatever you want to do with it, to help you grow and to go into new states of mind, whether it’s to get another business or expand or, you know, branch out, whatever that looks like, we’re going to give you those tools necessary to be successful in what your goals are.

Lee Kantor: And you said that this is all kind of housed within a pinnacle financial office.

Tracey Powell: Yes. It’s housed within the Pinnacle Financial Partners Economic Empowerment Resource Center. And this is the first one in Atlanta. We do have others, but we are looking to be so successful that we’re going to need even more so.

Lee Kantor: But this is like a rethinking of what banking can be.

Tracey Powell: Yes, yes. A lot of times people are given tools, but they don’t know what to do with those tools. And so we can sit at your feet or sit at your table and tell you, here’s the instruction manual on how you can be successful in whatever you’re doing financially. But if we don’t walk you through that, if we don’t take the time to help you understand how to use those tools, then it really didn’t make sense for us to put it out there for you. So we’re here to walk with you, to help you understand what we have to give, to help you implement the tools and the different, um, resources that we’ve put before you so that you can have success, but we can walk through that success with you. So we’re creating relationships that last a lifetime. We’re creating an environment where you don’t have to come here and leave. You come here and you stay, and we help you grow. And if we don’t have what you need, we have partners that do. So we are actually that hub to that allows you to come into this space to grow, whether it’s personally or in business. But we want to see you succeed and we want to see you do well. And we’re not just doing that with lip service. We’re actually here physically working with you to help you be the best version of you.

Lee Kantor: Now, um, this services is geared to the, um, like, founders of businesses, um, in the area. Is that the is that kind of at the heart of this.

Tracey Powell: For our, uh, general program, which is our pinnacle Atlantic Innovation accelerator program? Yes, it is geared towards people that are starting their businesses or. They’re actually needing help in order to launch their business in the correct way. Um, so we’re looking for early stage startups that are looking, um, that are having challenges, maybe in innovations in banking or regulatory compliance or fintech solutions. And we’re going to help them by creating an ecosystem that will help them grow.

Lee Kantor: So that’s that’s just one aspect of the pier Center. So you also have um services for just consumers, just regular folks that don’t have businesses necessarily. You can help them as well.

Tracey Powell: We can we can we can help anyone that walks in that door if they are ready for change, if they’re ready for growth, we have a program that can help them.

Lee Kantor: So let’s dig in a little bit about this accelerator for underrepresented Founders. Um. How did that come about?

Tracey Powell: Um, that came about with a partnership that we have with the Tarkenton group and generator. Um, generator has been around doing the different accelerator programs in different states. And, uh, thank goodness they were able to actually come to the table and find partners such as Pinnacle and Tarkenton to work with them to offer this accelerator program in Georgia and in Atlanta specifically.

Lee Kantor: And then what does that, um, what what’s involved with the program? Like who who is it for? And is it something that you apply to be part of, or it’s open to anybody who wants to kind of become part.

Tracey Powell: Of actually accepting applications right now? Um, the application deadline is July 22nd. Um, is going to the program’s going to kick off September 23rd and it will end December 19th. Um, we’re going to invest in five high growth Startups and they’re going to focus on fintech or related industry.

Lee Kantor: Okay. So it has to be a technology firm that you’re going to be helping.

Tracey Powell: Yes. Yes. And then and they have to be actually, um, to be eligible, your startup must be majority owned by underserved founders and have a significant business presence in DeKalb County, Cobb County, Fulton County, Gwinnett County.

Lee Kantor: And then, um, so do they have to be generating revenue at this point, or is it is it kind of a pitch competition? So if they have a good idea, they can apply.

Tracey Powell: If they don’t have to be generating income at this point. But if they have a good idea they can apply, they do need to be in a space where we can help them get to a point where they are generating income, right.

Lee Kantor: So I’m sure as part of the application, they have to fill out a questionnaire about what they’re doing and what they aim to do.

Tracey Powell: Yes. And then the easy questionnaire is not long at all. Um, we actually have a link, um, and that people can use if they reach out to us, uh, that they can actually use to apply, uh, but they can also just reach out directly to generator.com and they’ll see the link on their website as well.

Lee Kantor: And then and um, but this is open to anybody in the counties you mentioned that have an idea or a company that’s in the fintech space.

Tracey Powell: Correct, correct.

Lee Kantor: Now is there um, so once they’re admitted into the accelerator, what are the benefits of being in this accelerator as opposed to any of the other accelerators we have around town?

Tracey Powell: I think one of the best benefits is the fact that we’re, uh, selecting five businesses, five high growth startups. Um, And that to receive $100,000 investment in return for a 7.5% equity in the company. So if you are in business and you need funds to help your business grow, and then this may be the right place for you, because as we walk you through the accelerator and help you get where you need to be in order to fund your business or get to the place where you are actually making money, you can actually have someone come in as a partner with you and seed you $100,000 in return for 7.5% equity in your business.

Lee Kantor: Is it 100,000 in cash or is that in services?

Tracey Powell: It’s in investments so that we’re looking at cash. But also it could be services as well. So it’s possibly a mixture of all of that depending on the business and what’s needed now.

Lee Kantor: Um, what type of help are they getting? Is it is it just folks from pinnacle that’s consulting and advising them or, um, or you know, what kind of advice are they getting? And, you know, if someone’s investing in my business, one of the biggest things they can do for me is, uh, connect me with other people within their network to help me grow and maybe help me get clients and things like that. Or like, who are the people that are going to be helping these startups grow?

Tracey Powell: Now, pinnacle is the main partner. We also have the Tarkenton group, but as we work through this, we are going to have a managing director from generator that’s going to partner with us at pinnacle, uh, to actually go through the process with these business owners as they sit at the table, we will have experts in different topics come to the table that partner with us. So that doesn’t mean that it’s all going to be under the umbrella of pinnacle or Generator. Um, but we will have experts in the field, whether we’re talking about insurance or what have you, we’ll have experts come in and talk with them as well. So it’s a partnership, a community partnership as a whole.

Lee Kantor: And then, um, so does when pinnacle is setting up these, um, accelerators. Are they is that the typical Mo. They partner with other people locally to help the participants grow?

Tracey Powell: Yes. We want to give them all the tools necessary to be successful. And in that we will have partners come to the table with us. Um, of course, if we have the experts in-house, we will use them. Um, but we can always find additional information from experts in the community that have already proven to be successful in the different areas that we’re looking in. And so we’ll bring them to the table as well.

Lee Kantor: So now, right now, uh, I’m sure you have a search for who are these five companies going to be, right? Like right now that’s a priority is to have people start applying and start, and you start kind of trying to hone in on those five that you’re going to be able to help through this program.

Tracey Powell: Yes, Lisa, we do have the application already out. People are applying right now and they have until July 22nd to submit their application.

Lee Kantor: And then, uh, is there a website for them to go to to apply?

Tracey Powell: Yes. They can actually apply@generator.com. And that’s g e r t o r. So it’s not an A it’s an eight. So gener8tor.com. And if they look at investment accelerators they will see the upcoming program which is the Pinnacle Atlanta Innovation Accelerator fall 2025. And they’ll be able to apply now just by clicking on the link that says apply now. And once they submit their information, um, all of the applications will be held and until July 22nd. And so all of the information, all the information that they submit will be reviewed. And then the applicants from those who are reviewed will be reviewed. Um, sent to the table. And the top five will be chosen to be a part of this, this uh, accelerator.

Lee Kantor: And how long does the accelerator program last?

Tracey Powell: It’s actually 12 weeks. So it’s going to be from September 20th 3rd to December 19th.

Lee Kantor: And then it will take place at the Pier Center.

Tracey Powell: Yes. It’s actually going to take place right here at the Pier Center. Uh, we’re actually located next door to the gathering spot at 384 North Boulevard, right in Atlanta.

Lee Kantor: And then. Is that something they’ll have to go to every day, or is it there’s going to be sessions weekly or how is that going to work?

Tracey Powell: Well, it may change, but right now it’s going to be weekly sessions. Um, and they will have things that they will have to do each week before they come back.

Lee Kantor: Right. So, you know, this isn’t something that they just, you know, submit their name and get a check for $100,000 and go on their way. This is a very hands on work together, get you moving quickly. Kind of a boot camp accelerator, right?

Tracey Powell: You hit it on the head? Yes. It is. Um, they have to put the work in, and it is going to be hard work, but it’s going to be worth it.

Lee Kantor: Now, at the Pier Center, are there other, um, kind of programs like this one that you work with, uh, business owners and help them grow, or is this the only thing that’s kind of geared to the small business community?

Tracey Powell: No, this is the icing on the cake. This is one of the many programs that we have. And for businesses, the main program that we offer is the Small Business Mastermind. And through that we actually use Our, um, the the E-myth revisited as the book that we walk through with our small business owners to help them with the process of understanding how they set their business up. Is it, uh, working for them or are they working for the business? How have they set it up to just work as a job? Or are they truly business owners, or are they looking at it as an entrepreneur or a manager or a technician? You know, how are they working the business? And so we walk them through the process of understanding all of that and what it looks like to set their business up for succession, what it looks like to build a great business plan and understand how to develop the business itself, and making sure that they have their organization set up correctly with the appropriate strategies, uh, necessary in order to be successful. So we do have the small business Is a mastermind that we do, um, on a regular basis. And in addition to that, we were actually fortunate enough to be a part of the generator program where we now have the Innovation Accelerator program.

Lee Kantor: So the Innovation Accelerator program is kind of happening for a 12 week period. But that other thing you described is happening throughout the year.

Tracey Powell: Yes. Continuous.

Lee Kantor: And then that do you have to is there an application process where you choose certain people, or is that kind of open to the public or anybody who has a business in the area?

Tracey Powell: It’s actually open to the public, though. The business mastermind is a 6 to 8 week process, and we take up to 15 businesses at a time. And so if you make it into this cohort then or you don’t make it, we’ll put you on the list for the next one. Um, but we do those throughout the year, and they usually run 6 to 8 weeks. Um, and basically as long as you, um, are business looking to start growing and scale, then you can be a part of that business mastermind.

Lee Kantor: And then if somebody wants to learn about that, how do they find more information?

Tracey Powell: They can actually reach out to me. Um, and, or they can go to our website at. Com and look up Business Mastermind. Or they can reach out to me directly, um, just by shooting me an email at Tracy Powell at dot com.

Lee Kantor: Well, Tracy, thank you so much for sharing your story today. You’re doing such important work and we appreciate you.

Tracey Powell: Thank you so much, Lee.

Lee Kantor: All right. This is Lee Kantor. We’ll see you all next time on Atlanta Business Radio.