Dikiki Donuts Pack Big Flavor

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.

What experience do you have in this type of business?

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 denise@pacificsbdc.com or 671-735-2590 or visit our website at www.pacificsbdc.com.

UOG President Visits RMI SBDC

By: Anel Philimon

SBDC Director/Business Advisor
RMI SBDC

 

UOG President Dr. Robert Underwood (left) is photographed
with RMI SBDC Director Anel Philimon.

University of Guam President Dr. Robert A. Underwood recently visited the Majuro, the capital of the Republic of the Marshall Islands, from January 16^th to 20^th, 2015. In addition to his visits to other government ministries and agencies which included the College of the Marshall Islands, Dr. Underwood also visited the RMI SBDC center on January 19, 2015. The center is hosted by the Ministry of Resources and Development in partnership with the University of Guam (UOG) Pacific Islands SBDC Network. He learned more about the RMI SBDC and that there are only two staff operating the center, with one being the office manager and the other being the center director.

 

UOG President Dr. Robert Underwood is photographed with
RMI SBDC Office Manager Leeno Aikuij.

Dr. Underwood was interested in learning how the RMI SBDC is doing in terms of meeting and complying with its objectives and goals as stated in the signed MOU between the University of Guam Pacific Islands Small Business Development Center Network (PISBDCN) in partnership with the U.S. Small Business Administration (SBA) and the Ministry of Resources and Development on behalf of the government of the Marshall Islands.  He was happy to learn that like the other six SBDC centers throughout the region that are part of UOG PISBDCN, our goals and objectives were successfully and satisfactorily being met.

Lastly, Dr. Underwood mentioned that he will ask representatives of the Bank of Guam about their Marshall Islands activities and encourage more interest.  One last laugh that we shared with each other before he departed arose from the last lesson he learned in regard to how many coconuts it takes to make 100 pound bag of copra.  He was surprised to learn that it takes 300 coconuts to make 100 pounds of copra!