Big gains for small firms
The SMB Lab is a first-of-its-kind initiative that has generated over $15M for Arizona's small businesses — and its momentum continues to grow.
Small businesses account for more than 99% of Arizona's economy, yet founders often struggle to find and afford the services and guidance they need to scale their organizations.
The W. P. Carey School of Business is changing that through its SMB (small and medium-sized businesses) Lab, a unique initiative designed to connect small and medium-sized businesses with the resources, expert guidance, and student-driven solutions they need to grow and thrive.
Since 2022, the lab — dedicated to strengthening the local small business ecosystem across metro Phoenix — has provided free resources, connections, and business consulting that have helped generate $15M in value for small and medium-sized businesses through increased revenue and equity, debt elimination, and cost reductions.
Most of the small business owners who partner with the SMB Lab fall into three categories.
"They're either trying to nail it, scale it, and then want to sail with it. Most of them are in the nail or scale phase, but we're here to help with all three. The joy is watching them grow and succeed," says Director of the School of Technology, Innovation, and Entrepreneurship (TIE) and Senior Associate Dean of Faculty Gopalakrishnan Mohan.
Created by Mohan and Supply Chain Management Professor of Practice Hitendra Chaturvedi, the SMB Lab is based in TIE's Center for Small and Medium-sized Businesses (CSMB) on ASU's West Valley campus. Each three-hour lab begins with a presentation by a small business representative, oftentimes a founder, about their organization's pain points, followed by a brainstorming session featuring a curated team of experts who provide actionable solutions to their concerns.
Over the past three years, the SMB Lab has conducted 14 labs, counseled 25 small and medium-sized businesses, and connected more than 550 community members, development professionals, government officials, and ASU faculty members and students.
The initiative's purpose is twofold: to create a safe space for small and medium business owners to get the help they need to succeed while providing experiential learning opportunities for ASU students.
"In the simplest terms, it is a perfect ecosystem play in which everyone wins. This model is the embodiment of the New American University that President Michael Crow talks about," Chaturvedi says.
Broadening the SMB Lab's reach
While some businesses leave the lab with the knowledge and connections to address their challenges, others partner with the business school for ongoing projects. To date, the lab has produced 33 student projects — which are run by students and facilitated by a faculty member — resulting in six student internships and 10 case studies that ASU instructors will use in entrepreneurship courses as real-world teaching examples.
The CSMB's support for entrepreneurs and innovators extends beyond the lab's walls: The center partnered with ASU's J. Orin Edson Entrepreneurship + Innovation Institute and the West Valley Regional Chamber to offer a suite of resources and services to small businesses, including networking opportunities, certifications, mentorship, website and content development, workforce development, and information related to grant writing, funding, product design, and scaling and expansion.
Last semester, the CSMB introduced the mini lab, a lower-touchpoint SMB Lab geared toward newly established businesses, and began growing the lab's impact beyond the Southwest by facilitating a meeting between former lab participants and U.S. Small Business Administration Associate Administrator Lisa Shimkat to discuss challenges related to small and medium-sized businesses.
This year, Mohan and Chaturvedi are partnering with W. P. Carey Technology Strategy and Operations to create a generative AI portal that uses former lab outcomes to provide more small business owners with ideas and resources to navigate their challenges.
"As we continue to collect data on solutions to problems that work, these best practices need to be shared with other companies struggling with similar problems, and that is where we plan to use AI to glean insights that make sense for small businesses," says Chaturvedi.
As the lab gears up for another year of serving small businesses, W. P. Carey news caught up with four lab participants to ask about their SMB experience, advice for future lab partners, and what's next for their organizations.
Game plan for growth
Since relocating to the Valley 20 years ago, New York natives Mitch and DawnMarie Goldberg have grown a single soccer program into B.E.S.T. (Beginners Edge Sports Training). This nine-sport program has served over 38,000 children between 18 months and 15 years old. But as B.E.S.T. Sports has grown, so has the family-run business's need for dedicated employees and a marketing plan that reaches busy parents with active kids.
Mitch participated in the SMB Lab last fall to discuss solutions to these challenges, which resulted in B.E.S.T. Sports conducting a strategic marketing audit to determine how social media marketing can increase their brand awareness and engagement. For Mitch, part of the lab's appeal is the exposure it provides students to a range of businesses and complex problems.
"The lab is a fantastic experience that provides opportunities for students to work on real-world business issues and challenges with real companies," says Mitch.
Today, the Goldbergs are developing B.E.S.T. Sports' social media and marketing strategies while expanding the organization's sports offerings. They hope future SMB Lab participants remember that the lab is a chance to boost their business while exposing students to potential career opportunities.
"This experience could influence someone's future — whether it's tomorrow or 20 years from now — and is an opportunity to meet future professionals from different industries," Mitch says.
Sweet treats meet student strategy
This spring, Clinical Professor of Marketing Detra Montoya partnered with a local dessert business to lead a marketing project in her MKT 455: Brand Management course that gave W. P. Carey students hands-on experience in brand development, campaign planning, and working with real-world clients.
Working in eight teams, Montoya's students learned to analyze and interpret data collected through surveys, focus groups, and interviews to develop and support their solutions to the business's challenges.
"Student recommendations ranged from new flavor ideas, seasonal marketing campaigns such as partnerships with local schools and sports teams, to innovative distribution strategies like placing branded coolers in convenience stores," says Montoya.
The project exposed students to the unique challenges faced by entrepreneurs — like working with a limited budget or incomplete information — which Montoya anticipates they will experience in their future careers. At the end of the semester, the business owners visited campus to hear the proposed solutions and were impressed by each team's creativity.
"This project encouraged creativity and problem-solving, allowing students to take risks in a safe and supportive learning environment," says Montoya. "It helped them build valuable communication and collaboration skills, competencies that are highly transferable."
Fresh talent fuels game startup
W. P. Carey alum Jaron Lodge (BS Business Entrepreneurship '21) founded his first business at just 15 years old before establishing the outdoor sports game company Score NN' as an ASU undergraduate student. When Lodge partnered with the SMB Lab in the fall of 2024, it was to identify ways to improve the company's marketing strategies and brand positioning and brainstorm solutions to logistical and operational challenges.
"A breakthrough was when the lab connected me with motivated ASU students, who joined Score NN' as interns," Lodge says. "They brought fresh energy to the organizations and helped me tackle critical marketing and product fulfillment tasks that I couldn't have managed alone."
In the months since, Lodge has continued to collaborate with the lab's advisors and fellow participants to exchange resources and ideas. He's also returned to campus as a guest speaker through ASU faculty connections, which has turned into powerful recruiting opportunities for Score NN'.
"The SMB Lab is unique because it connects ambitious entrepreneurs with real-time access to experts, faculty, and peers who want to help each other grow," says Lodge. "The lab supported my business with strategic guidance and helped me build a strong, motivated team that believes in what we're creating: It's a rare blend of insight, access, and impact."
Now, Lodge focuses on expanding the company's product offerings and scaling its community through strategic partnerships, organic content, and retail opportunities. He advises future lab participants to approach their session with an open mind and willingness to share their business challenges candidly.
"The more transparent you are, the more value you'll get from the feedback and insights around you," he says.
Lab drives green firm forward
By the time Verde Clean participated in the SMB Lab in the spring of 2024, the green facilities services company was already making waves in the sustainability space: From implementing 100% green daily use products to partnering with Veritree to plant 13,000 trees a year, the small, Hispanic-owned company was gaining national attention and growing quickly. Verde CEO Paul Sarzoza and Chief Revenue Officer Amber Reyna partnered with the lab to brainstorm ways to improve the company's internal communication, workforce development, and systematize their sales processes.
"The SMB Lab is one of the few programs where small businesses get access to meaningful resources and fresh perspectives without the pressure or cost of a traditional consulting engagement," Reyna says.
Following the lab, the lab organizers paired Verde Clean with a team of graduate students who worked closely with Vice President of Human Resources Karisa Stahle to conduct interviews with Verde employees, study industry benchmarks, review Glassdoor reviews, and conduct retention research to identify what keeps employees engaged. Based on their findings, the students presented Verde leadership with actionable recommendations for improvement, including training enhancements, updated employee uniforms, and pay structure reviews, all aimed at boosting retention and strengthening the organization's frontline team.
The Verde team has stayed closely connected to ASU and maintained the project's momentum by onboarding ASU students Aditya Pokharna (MS Data Science '26) and Daryn Perlman (BS Marketing '27) as interns. As a finance intern, Pokharna creates automated dashboards for weekly operational budget reporting, which will help the organization identify trends and make more informed business decisions as they expand into new markets. Perlman, a marketing intern, collaborates with Verde's operations and human resources teams to turn janitorial training documents into microlearning videos that teach everything from identifying workplace hazards to organizing janitorial closets using the 6S methodology — an extension of the lean Six Sigma framework that includes Sort, Set in order, Shine, Standardize, Sustain, and Safety.
"The lab is not just theoretical: The students dive into real business issues, bringing creative thinking and data-backed recommendations to the table," says Reyna. "It's a mutually beneficial ecosystem, and it strengthens the broader community through job creation, innovation, and long-term local impact. We're truly grateful to be a part of it."
Today, the Verde leadership team focuses on sharpening its systems to support the company's rapid growth.
"The SMB Lab has been instrumental in leading us toward and developing these projects in a way that will help us scale Verde while keeping our culture strong, our operations efficient, and our teams empowered," says Reyna.
Want to join the next cohort of entrepreneurs presenting their challenges to a university-led brainstorming forum or collaborate on a student project? Learn how to partner with the SMB Lab or submit an interest form today.
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