If you are an owner manager of a business, interested in developing and growing your business and willing to commit 3 hours a month to learn from other like-minded business owners then ProfitNet could be your ideal programme.

With already 11 ProfitNet groups, involving some 200 businesses, having gone through the programme the outputs and results of the programme in Donegal over the past five years have been very positive – it has added significantly to the sustainability of the participating businesses and the management capabilities of the participants.

What is Profit Net?

Profit Net offers a unique opportunity for owner mangers to grow their business by working with other like minded people. Profit Net is a learning network that helps businesses share, increase and apply their knowledge.

• It will enables Business owners/managers generate and develop new business ideas,
• It encourages creative thinking and problem solving,
• It enables participants explore and implement practical solutions,
• It enables participants develop their networking and learning skills, and
• Enables participants as members, to benefit from the collective and diverse experience of other business owners in an environment of trust, tolerance and complete confidentiality.

The idea of getting businesses that operate in similar environments to work together to identify and develop practical solutions to their individual problems has been shown to work, with members experiencing significant and positive changes in themselves and in their business.

What makes ProfitNet Different form other Networks?

Each ProfitNet network is made up of business owners or managers who are responsible for making strategic decisions thus providing a common ground for all participants and ensuring the cross-fertilisation of their experience and ideas.

Each ProfitNet group is facilitated by trained facilitators who ensure delivery on agreed needs within a well defined programme structure. Members commit to the networks and commit to the confidentiality of the group.

The model involves practical learning that is tailored to meet the needs of its members and their businesses. Members join cross-sector or sector-specific groups and meet once a month for a 3 hour facilitated session. The groups are member–led, with topics for discussion, external speakers and training being wholly decided by members.

The ProfitNet Model

Companies join groups of 15-20 members and:

• Attend monthly meetings.
• Make decisions for what and how to learn.
• Establish network norms/rules.
• Engage in peer learning and knowledge sharing.
• Take part in special creativity sessions.
• Have support from specialists as required.
• Establish strong links with other members.
• Make a commitment to the group.
• Have access to in-house assistance.

Each meeting is structured into three separate parts:

• Presentation by individual members and group feedback
• Action Learning/Discussion of common business issues
• External input from specialist (creativity sessions).

Minutes are taken of each meeting with main items discussed and agreed actions recorded. Each meeting concludes with agreed agenda items for the following meeting.

Programme Participant Criteria

• Owner manager of a business employing a minimum of 3 employees.
• Interested in developing and growing your business.
• Willing to commit 3 hours a month.

Your Next Step

If you are interested in participating in a ProfitNet network please contact the Local Enterprise Office Donegal at info@leo.donegalcoco.ie or 074 9160735 for more information.

Profitnet and Profitnet Plus is delivered under license from CENTRIM at the University of Brighton, UK.