“Put Your Business on Steroids”: Dr. Jennifer Holmes Brings the Goldman Sachs 10,000 Small Businesses Story to Open Forum
By Somdatta Basu
On Saturday, June 27, the IACCGH Business Hour on Open Forum — now in its 27th year of broadcasting — welcomed Dr. Jennifer Kellough Holmes, Executive Director of Goldman Sachs 10,000 Small Businesses at Houston City College, for an hour that host Dr. Subodh Bhuchar admitted changed his own thinking about his medical practice before the show had even begun.
“I’m so busy running the practice and practicing the practice,” he confessed on air, “that I don’t know if I want a second clinic — which, by the way, could help a lot of patients. But after I read about Dr. Holmes, I’m like, wait a minute. This is something I’ve been waiting for a long time.”
It was an honest admission that captured exactly the problem Dr. Holmes has spent her career solving.
More Than a Business Program
“Every successful business begins with an idea,” Dr. Holmes said in her opening remarks. “But sustainable growth requires more. It requires strategy, leadership, and a community that believes in your success.”
That is precisely what the Goldman Sachs 10,000 Small Businesses program provides. Established by the Goldman Sachs Foundation and delivered through community colleges nationwide, the program launched in Houston in 2011 — one of the first sites in the country — with a goal of reaching 10,000 small businesses. At the Goldman Sachs Summit held in Washington, D.C., in September 2025, the program celebrated having exceeded that goal, reaching more than 20,000 businesses across all 50 states.
Houston alone has graduated more than 1,200 businesses. The curriculum, developed by Babson College, one of the world’s leading institutions for entrepreneurial education, is designed around a central objective that Dr. Holmes returned to throughout the hour: helping owners work on their business rather than simply in it.
“We help you put your business on steroids,” she said. “We really position you for growth.”
How the Program Works
The eligibility criteria are straightforward: applicants must be an owner or co-owner of a business with a minimum of $75,000 in annual revenue, at least two employees (with the owner counting as one employee), and a minimum of two years in business. There is no upper revenue limit, and the program has welcomed businesses generating revenues well into the millions of dollars.
The application process begins with a simple initial form, followed by submission of financial statements. For business owners concerned that their financial records may not yet be in perfect order, Dr. Holmes offered reassurance.
“We can help you,” she said. “We have people on our team who are experienced and knowledgeable in financials. I don’t want anybody to make the assumption that they’re not ready for the program. Let us do that screening process.”
Accepted scholars — typically 30 to 40 per cohort, with three cohorts held each year — participate in an intensive in-person curriculum that meets weekly over 12 weeks from 8:00 a.m. to 5:00 p.m. The program covers topics including marketing, legal clinics, leadership development, and what Dr. Holmes described as one of the most eye-opening exercises for business owners: taking a serious look at their financial statements.
Every scholar is paired with a dedicated business advisor who visits their business in person, and each cohort is organized into growth groups intentionally built to include a diversity of industries, revenue levels, and backgrounds. Attendance expectations are high because each module builds upon the previous one — and the results speak for themselves, with 96% of scholars completing the program.
The program is entirely funded by Goldman Sachs and comes at no cost to participants. Alumni who are CPAs have estimated the value of the program and advisory support to be between $80,000 and $100,000.
The Network That Keeps Working
The theme of the hour was the power of business networks, and Dr. Holmes shared impressive statistics to demonstrate their impact. Within six months of graduation, 66% of graduates increase revenue and up to 44% create new jobs. Perhaps most remarkable is that 87% of graduates network or do business with one another.
Much of that collaboration takes place through 10KSB Connect, the program’s private national platform that Dr. Holmes described as “a unique form of LinkedIn, but only for individuals who have gone through the program,” connecting alumni across all 50 states.
The stories of transformation were compelling.
Danny Lovelady, a veteran and founder of Ark of Security Solutions, entered the program with 10 employees and approximately $283,000 in annual revenue. Today, his company employs 65 people and generates $4.2 million in revenue, while positioning itself for county and municipal contracts and preparing the next generation of family leadership.
“The program served as his North Star,” Dr. Holmes said.
Dr. Roy Rivera of Elation Physical Therapy secured a $1.5 million SBA loan after graduating in order to build his own permanent facility — a project constructed by one cohort member, with electrical work and signage provided by others from the same network.
When Dr. Holmes later suffered a serious ankle injury while visiting New York, she became Dr. Rivera’s patient herself.
Her orthopedic specialist did not previously have him on the referral list.
He’s on it now.
“Everything,” she said, “is that next handshake, that opportunity.”
Dr. Holmes also recalled the story of an engineer who built and ultimately sold his environmental-impact firm for $16 million — intentionally accepting less than the highest possible offer because he had calculated exactly what he needed to retire on his own terms.
She also highlighted Maria Rios from Houston’s very first cohort, who once feared presenting her business pitch in front of the room and whose waste-management company has since taken her to meetings at the White House.
Closer to home, a restaurateur who heard Dr. Holmes speak at a previous IACCGH luncheon applied to the program, graduated from Cohort 44, and now has his curry sauces stocked in Costco stores.
Every Industry, Every Dreamer
Asked what types of businesses participate in the program, Dr. Holmes’ answer was simple: all of them.
Restaurants, hotels, manufacturers, engineering firms, cleaning services, healthcare practices, dentists, and plastic surgeons have all participated.
“There isn’t an industry that we haven’t touched,” she said.
The only age requirement is that applicants must be at least 18 years old. One graduate, she noted, was an 80-year-old entrepreneur.
The support continues long after graduation. Alumni receive diagnostics at six, 18, and 36 months after completion, gain access to alumni clinics on topics such as succession planning, and retain lifetime access to business advisors.
In Module 8, “Being Bankable,” approximately 20 lenders participate in a bankers’ panel where every scholar presents their business. Some participants have secured financing before the cohort even concluded.
“If I’m successful, you’re successful,” Dr. Holmes said of the program’s culture. “My success hinges on yours.”
A Deadline Worth Noting
The application deadline for the next cohort is September 30, although applications remain open continuously throughout the year for the program’s three annual cohorts.
Dr. Holmes closed with a message aimed directly at business owners throughout the Houston region:
“Whether your goal is to increase revenue, hire more employees, improve your operations, expand into new markets, or create a lasting legacy for your family — this program gives you the tools, the confidence, and the community to make that happen. Growth is not just about big numbers. It’s about building stronger leaders, stronger businesses, and stronger communities.”
The hosts concluded the program with warm thanks to IACCGH and a reminder that the Chamber’s Annual Gala & Awards Banquet on August 29, 2026, at Hilton Americas-Houston is fast approaching — an always-anticipated evening where, as the hosts noted, some of the most valuable connections are often the people you meet.