MBA students offer help to entrepreneurs

Need help figuring out the next step for your small business?

The montreat college mba program may have some answers. A team of the school’s graduate students is offering consulting services as part of the class’ spring semester project.

The students interview the selected business owner and employees. They then research a specific issue and recommend a solution.

The program allows students to gain hands-on experience and provides participating businesses with third-party consulting at no cost.

“It’s really a mutual benefit,” Montreat professor Norm Petty says. “It gives our students some insight into business strategy and what it takes to be successful.”

A group of students recently paired with sweet dreams mattresses Inc., a Mooresville retailer, to help the company analyze sales strategies. Owner Greg Law says the students secret-shopped his two family-owned stores, analyzed his market and presented him with a booklet summarizing their suggestions.

Law, who founded the $2 million business six years ago, says he used the research to help plan a third store and increase online sales.

“It was nice to get a fresh, unbiased look at our stores from a group on the outside,” Law says. “What a great resource for a small business.”

Past projects have dealt with personnel, marketing strategies and production.

program leaders say interested companies need to have at least $1 million in annual revenue and be able to provide meaningful work experience.

The student teams usually consist of about five graduate students with varying degrees of work experience. The project lasts about six weeks.

“We’re looking for legitimate companies big enough to share challenging issues with our students, but small enough that they can’t normally afford the luxury of consultants,” Petty says.

Tags: montreat college,mba students,mba program,class spring,interested companies,mutual benefit,semester project,program leaders,legitimate companies,sales strategies,sweet dreams,marketing strategies,hands on experience,spring semester,business strategy,graduate students,mattresses,business owner,six weeks

Thursday, January 01, 2009 |

---