Posted: Aug 23, 2012 4:32 PM by Callie Eike - Q2 News
BILLINGS- Seniors at the Montana State University Billings College of Business are looking for owners of small businesses or directors of non-profit entities who need help with their business plans, a project that will provide valuable educational experience for college students and add value to local businesses.
This project has been going on for 20 years," said Assistant Professor of Management Dr. Jennifer Leonard. "In the past several years, the class has worked with clients such as ZooMontana, the City of Billings, North Park Children's Center, Soaps by Rusty B and Billings Educational Academy."
The business receives an Excel financial model of the client's business, including five-year pro forma financial assumptions, income statements, balance sheets, and statements of cash flow and a free cash flow analyses using payback, net present value, and internal rate of return concepts and a "what if" analysis DVD that businesses can utilize to make predictions.
"This is a great opportunity to help students show how they can become valued employees," said Leonard.
Teams of four to five senior students participate in developing the plans and work closely with the business owners. Each team will meet with its business owner to prepare a written client commitment promising specific accomplishments and full confidentiality.
Students will research best practices in the industry and include these in the business plan. In December, the students will invite representatives of the businesses to attend a presentation at the College of Business. The students will present their findings; the businesses will receive a full comprehensive business plan.
The fee is $250 for a non-profit or startup business and $500 for an existing business. The application deadline is September 7th.
For more information on how to request a business plan, please call Leonard at 657-1689 or e-mail her at email@example.com