An Interview with Owner Jim Dimag
Please tell us about yourself and your family.
We are a family of four that consists of my lovely wife Kaori, my beautiful daughter Crystal, my handsome son Chance. My name is Jim and I work in the Hotel Industry.
Why did you decide to start your own business?
The reason for starting my small business is to save money to take my family on a yearly vacation. I wanted to make memories so that when my family gets older and we are sitting on our front porch we can pull these memories from our back pockets and smile.
I remember when I was younger, I would frequent the Gibson’s comic shop (Guam Premier Outlets). There was a guy who used to sell doughnuts at the entrance. I remember the smell walking into Gibson’s and I can still remember the taste to this day. When I was searching for a great business idea, I thought I could do something like that. My customers often share their stories of the Gibson’s doughnut stand as well and tell me that Dikiki Donuts remind them of the good old days at Gibson’s.
Absolutely ZERO, business plan is basically ‘save more than you spend or spend less than you make.’
How did the Small Business Development Center and other resources help you?
Denise was very helpful, she pointed me in the right direction making sure I went step by step and in the correct order as it relates to permits and licenses. She reviewed my business plan and calculated the expense to ensure my business was profitable. On top of that Denise is a wonderful individual. The experience was a positive one.
What was the start-up process like?
It was overwhelming at first, going to different agencies filling out forms ensuring that you are compliant. I remember thinking ‘what have I gotten myself into.’ I persevered and the feeling you have when you receive your business license is one of relief and accomplishment.
How did you fund your business?
I received a loan from the Bank of Guam, a gentleman by the name of Dave Arriola assisted me with the process. Dave was the reason I went with Bank of Guam, he is professional individual with a great personality. The experience was a positive one.
What were some of the biggest challenges you experienced in the start-up process?
One of the biggest challenges was running out of funds, the process to receive my business license took longer than I planned plus I wanted to upgrade my business.
What is your most memorable triumph in your start-up process?
The first day I opened my business at the Dededo flea market. I remember stepping back and thinking to myself ‘better late than never'
What are your short-term and long-term plans for your business?
Short - selling at Dededo flea market and Chamorro village.term
Long term - opening up in a major location, and managing my staff.
What advice would you give to others who want to start a business at this time?
‘Go for it!’ but do yourself a favor and make an appointment to see Denise Hertslet at Guam Small Business Center at UOG.
For more information about the Guam Small Business Development Center contact Denise-Mendiola Hertslet at firstname.lastname@example.org or 671-735-2590 or visit our website at www.pacificsbdc.com.