Would you know what to do if your company had experienced a fire, flood, or other emergency situation? Founded in 2013, Facility Facts, based in Albuquerque, developed a software package that quickly and efficiently provides managers with the data and institutional knowledge to make good and timely decisions during emergency situations. Customized for each specific facility, the software helps to mitigate risk and has the potential to save lives and protect infrastructure. As a small business, Facility Facts yearned to carve out a bigger place for themselves in an already crowded market. Jason Strauss was aware that such growth was fraught with risk and uncertainty, so he turned to NMSBA for help.
NMSBA connected Strauss with University of New Mexico (UNM) professor Steve Walsh and a group of students, led by Corey Cooper, who specialize in management of technology and entrepreneurship. The UNM team worked with Facility Facts to develop processes for the company’s management team to accept certain risks and take calculated actions. They also provided a number of pathways for the company to establish strategic partnerships to facilitate growth.
As a result, Facility Facts has been in discussions with various companies about the possibility of merging. The company is currently in the first stage of such an acquisition process. With the assistance from NMSBA, Strauss and his team have developed the skills to analyze their company resources to find new markets, which is vital to ensuring that the company continues to grow.