Featured Success Story
Location: Warwick, RI
Course: FastTrac® GrowthVenture™ - Graduated 2010
Affiliate: NYC Department of Small Business Services
Build the concept. Prisere LLC helps small enterprises build their capacity for disaster-risk reduction, and climate-change mitigation and adaption. In doing so, it helps its clients gain access to affordable insurance that is commensurate with improved risk-management practices.
Plan the strategy. When they were working together as Childs Capital LLC, members of what now is the Prisere LLC leadership team lived and worked through the worst disaster in U.S. history. Because of the team members’ backgrounds in reinsurance and information technology, they were well prepared to recover, and were featured in the Department of Homeland Security’s “Ready for Business” campaign as an example of exceptional effort to build business resilience. In the ensuing decade, the team volunteered to help other small businesses affected by disasters. Demand for its experience led to the creation of Prisere LLC and the team’s exclusive focus on risk resilience for smaller enterprises.
Grow the revenue. To share its risk-reduction and disaster-recovery experience with other small businesses — which tend to be hardest hit and least able to bounce back — Childs wrote a book, “Prepare for the Worst, Plan for the Best: Disaster Preparedness and Recovery for Small Business.” The second edition, updated with 40 percent new content, is available in paperback, and a third edition will be available soon. Favorable coverage about the book and being honored by the American Red Cross for small-business recovery efforts following Hurricanes Katrina, Gustav and Ike helped establish Prisere’s expertise in both the public and private arenas.
Professional recognition of the company’s effectiveness also has helped strengthen Prisere’s reputation and expand its client base. During the 2011 Global Entrepreneurship Week (GEW), for example, Prisere was named to the GEW 50, a list of the world’s 50 startups with the greatest potential to spur economic revival and sustained growth. More recently, SCORE, which mentors America’s small businesses, named Prisere among winners of the 2015 American Small Business Championship because of the sacrifices it has made to achieve success for itself and other small enterprises.
Expand the market. Childs says carefully targeting and selecting new clients is key to Prisere’s success. Maintaining a clear focus on the team’s specific areas of expertise also remains crucial.
Insight/Hindsight. “FastTrac helped me develop a blueprint for business growth that has served us well and better enabled us to serve our clients.”