FJ Green Tech Owner’s Motivation for Self-Employment

People start businesses for many reasons whether it is for self-fulfillment, pursuing a passion, or providing a needed skill or product. It can also be a combination of many reasons or like John Johnson, it is a plan for after retirement. Johnson will be retiring from the military soon and to supplement the potential loss of income and to support and sustain his lifestyle after retirement, he decided to start a business. In his previous work experience, he worked in the federal government and for a golf course which involved landscaping and general maintenance. This gave him the idea to open FJ Green Tech. The company specializes in lawn care, tree pruning, edging, hedge trimming, weed control, water blasting, light metal fabrications, and equipment rental. 

For Johnson, the start-up process “was actually very easy.” He did some research online and found the SBDC through a friend. He registered for a few classes and learned how to manage a small business, write a business plan, and a financial plan. Some of the SBDC workshops involved the Small Business Administration (SBA) on how business loans work. Johnson stated that even after attending the workshops, SBDC was always available to answer his questions that he didn’t understand which helped him put things into perspective. He continued on to say that the SBDC Business Advisor was able to direct him to the right people and assist on finalizing his financial plan. It took him less than a week to turn in his loan application and get approved to start his business.

One of the challenges Johnson mentioned is the actual preparation of the financial plan, but credited SBDC on their assistance and guidance to make the process manageable. He did name that setting realistic goals and doing the research on the equipment needed was the biggest challenge he faced. Although Johnson’s company is just a couple months old, his triumphs include maintaining repeat customers, breaking above even, and securing his first contract with a government agency. FJ Green Tech aims to acquire a few more government agency contracts within a year and eventually in the long-run, have this business as his main source of income and possibly open another business venture.

John Johnson is a father of two children and is married to Desiree Johnson.  To entrepreneurs, Johnson says, “Be persistent, stay motivated, and focus on your goals.” To learn more about FJ Green Tech’s services, you can visit their Facebook page or call 487-0019/9408. 

Kosrae SBDC Welcomes New Business Advisor

By: Skiller Jackson

Center Director/Business Advisor

(Kosrae SBDC)

Ms. Emily Sam O’Steen joined the Kosrae SBDC as the new Business Advisor on the first week of October 2016. M. O’steen worked for the Kosrae government as a student intern with the FSM Finance for three months and joined the Division of Statistics as a Census Enumerator for eight months. She also worked at the Department of Education, Kosrae State as a classroom teacher for five years.

Ms. O’Steen left Kosrae to join her husband who was recruited for the US Armed Forces in 2008. She was hired by the AAFES Exchange in Fort Hood, Texas as a sales clerk. After her husband’s medical retirement with the US Military around June 2013, Ms. O’Steen came back with her family to Kosrae where she started working for the Kosrae State Government.

On October 2016, Ms. O’Steen was hired by the Kosrae SBDC as the new Business Advisor.

With the knowledge and skills that Ms. O’Steen brought with her to the Kosrae SBDC, we are fortunate to have such an asset to help the Kosrae small business community. 

LCM Pharmaceutical Now Open: Palau’s Only Independently Owned Pharmacy

By: Ltelatk Fritz
Center Director/Business Advisor
(Palau SBDC)

Owner Clarette Matlab

LCM Enterprise dba LCM Pharmaceutical became Palau’s only independently owned pharmacy as its doors were officially opened for business on Saturday, January 28, 2017. The owner, Ms. Clarette Matlab, is a full-time, licensed pharmacist who has been working at the Belau National Hospital for 20 years. She began her career as a nurse before moving into pharmaceuticals. During her eight-year tenure as a pharmacist, Clarette saw a need for better access and options for medications in the local community. Many times, patients are unable to get their prescriptions filled because of the shortage of supply at the national hospital. With the opening of LCM Pharmaceutical, Palauans have access to another source of affordable prescriptions.

She first approached Palau SBDC seeking assistance to start her business in 2009. It has been a long process of working out details for a business plan, which is often required for business (commercial) loans at both development banks—like NDBP—and commercial banks—like Bank of Guam, Bank of Hawaii, and Bank Pacific. Palau SBDC provided one-on-one counseling with Clarette to help refine her business plans and financial projections. Along the way, Clarette encountered many challenges in the planning process such as finding the right software—for the business and pharmacy operations—and establishing financial projections for her start-up company. However, Clarette acknowledged the importance of planning it out on paper and anticipating potential costs/issues and addressing the issues before starting the company, because trying to run a new company and dealing with problems at the same time will be overwhelming on the owner.

Clarette opened LCM Pharmaceutical/PacifikaMed Pharmacy to provide quality medicine and personal health products at affordable prices. With the technical assistance from Palau SBDC, Clarette was able to complete a comprehensive business plan and detailed financial projections for her loan application package with the N

ational Development Bank of Palau. Clarette was able launch LCM Pharmaceutical/PacifikaMed with her savings, a loan from NDBP, and in-kind assistance from friends and family. 

LCM Pharmaceutical/PacifikaMed created four new jobs in the local community. Some of the challenges Clarette encountered during the long process is getting things done on time (especially working full-time), figuring out the financials, and sticking to her commitment. Eventually, Clarette plans to include other health services such as diagnostic laboratory services and counseling services—lifestyle (NCD) support.

LCM Enterprise doing business as LCM Pharmaceutical/PacifikaMed is located at Meketii hamlet in the old family bakery. Business hours are Monday – Saturday from 9 am to 6 pm.