Program Overview

Introduction to the Small Business Consulting Program

The Nazarian College small business consulting program has assisted more than 300 small businesses over four decades, including Barclays Coffee & Tea in Northridge. This program is a win-win for students and entrepreneurs, as it provides students with hands-on experience and small businesses with valuable consulting services.

Program Overview

The program is part of a three-unit capstone course, BUS 497BBH Small Business Planning & Growth, taught each spring. It is a requirement for all honors students in their senior year. Management lecturer Drew Foley teaches the course in collaboration with Silvina Bamrungpong, director of the Business Honors Program.

Program Structure

• The course is the culmination of students' studies at the Nazarian College.
• Working with a local client is a way students practice and apply their learning.
• For graduate students, the process is an evolution, as they are transformed from learners to practitioners during their consulting project.
• Student teams are created based on their interests, skills, background, and other factors.
• Each team includes a team lead, a financial adviser, and a marketing adviser.

Program Partnerships

The program has established partnerships with FOUND/LA and Wells Fargo Bank. FOUND/LA provides $425,000 over five years to support student scholarships and cover administrative costs. Wells Fargo has dedicated $150,000 since 2019 to support the program and its students.

Partnership Benefits

• The partnerships provide students with opportunities to work with local small businesses.
• The program receives financial support to cover administrative costs and provide student scholarships.
• The partnerships recognize the program's impact on the small business community.

Client Requirements

To participate in the program, clients must meet specific criteria:

• They must be in business for at least two years.
• They must have annual revenues of at least $100,000.
• They must be willing to share two years' worth of financial statements.
• They must commit to a two-hour initial intake meeting, two to three meetings with students throughout the semester, and attend the student presentation at the end of the semester.

Client Benefits

• Clients receive valuable consulting services from students.
• Clients have the opportunity to work with students who are passionate about their business.
• Clients can expect to receive recommendations on how to improve their business.

Student Experience

Students in the program work in teams to evaluate their small business clients. They deploy classroom lessons in the service of entrepreneurs as they pass their final hurdle to graduation. Students attend a capstone class for three hours a week and dedicate 100 to 200 hours to supporting their clients.

Student Benefits

• Students gain hands-on experience working with small businesses.
• Students have the opportunity to apply their learning in a real-world setting.
• Students develop valuable skills, including teamwork, communication, and problem-solving.

Program Success

The program has an impressive track record of providing small business consulting for more than four decades. More than 300 small businesses have benefited from the college's consulting program. The program has received recognition from the business community, including a first-place award in the Comprehensive Project of the Year category at the 2021 Small Business Institute Competition and Conference.

Program Impact

• The program has a positive impact on the small business community.
• The program provides students with valuable experience and skills.
• The program is a win-win for students and entrepreneurs, as it provides both with valuable benefits.