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NMC opens business planning course
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Posted on Oct 08 1999
The Small Business Development Center of the Northern Marianas College is offering a new course that would assist local entrepreneurs in planning their businesses.
SBDC deputy director Eric Plinske said the new course, called Business Plan for Success, is intended for entrepreneurs who are trying to start up a business, as well those who are considering expanding their operations.
“Some people who want to start a business have an idea, and they want to find out if this is going to work; if so, how can they set up a plan to get this business off the ground,” Plinske said.
The first session of the six-week course began Wednesday night. Classes are held once a week.
The course consists of six modules: strategic planning, organization, marketing I, marketing II, financial strategy, and documentation.
Plinske said the students attend the class as a group for the main topic areas. They can come individually for specific needs as each of them is required to work on a particular business.
“By the end of the course the students would have come up with a business plan,” Plinske said.
The new course, Plinske said, is basically aimed at helping entrepreneurs in documenting their business operations.
“One of the biggest challenges for an entrepreneur is getting things down in paper. A lot of people don’t like to write,” Plinske said.
Plinske said documentation, which states the company’s profile and mission, is an important aspect of a business especially if the proprietor seeks expansion and financing.
If the company has a complete set of documents, then it would be easier to secure loans from banks or other financing institutions, Plinske added.
“A majority of business owners here do not have a business plan, so that when they try to get a loan, they run into a brick wall,” Plinske said.
“Even if you went to a friend who has money, he would ask you to explain the business in writing. People that invest money in business have very critical analysis; they want to see if a business is worth investing in,” Plinske added.
SBDC plans to offer the course at least four times a year.
The pilot class has six students and SBDC expects to see a bigger number of enrollment in the future, Plinske said. (MCM)
