Creating a business plan is an essential first step in launching a successful company. It is also one of the most daunting tasks for entrepreneurs. Low cost help is available from teams of advanced MBA candidates at Fairleigh Dickinson University’s Rothman Institute of Entrepreneurship. These teams will work with new entrepreneurs and with those on the verge of launching — or expanding — a business.

To date, 150 business plans have been developed for New Jersey for-profit ventures and for non-profits.

In order to participate businesses should fall into one of three categories: entrepreneurial start-up situations in early stage expansion; mature companies entering new markets or restructuring; or non-profits seeking to increase outreach.

The advanced MBA teams work under the close supervision and mentoring of seasoned business planning experts. Interested ventures should anticipate spending a considerable amount of time working with their MBA teams as an extension of their company’s own management team. The application and pre-screening process is free. When a company is chosen for the program, there is a $150 fee for the semester-long consultation to offset market research and business plan printing costs.

The first step in the process is contacting professor Steven Fulda at the Rothman Institute at 973-443-8842 or smfulda@cs.com.

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