• Implementing Organization(s): VEGA/BTD Bulgaria, MBA Enterprise Corps
• Name: Business Center Serdon (BCS)
• Location: Sofia, Bulgaria
• Dates: October 2004 –October 2005
• Funding Organization/Cognizant Officer: USAID Bulgaria, Rayna Dimitrova – CTO, tel. 939 57 89

Problem Statement:
The organization is developing rapidly, its client portfolio is increasing constantly and there is an ever increasing demand for new and existing services. Business Center Serdon (BCS) could not keep up with this trend with its limited expertise and human resources. That is why it needed assistance from an MBA Volunteer Advisor in developing its products and adjusting its operations to match the increased demand.

Project Focus:

• Continuous improvement of the current services and ensuring the delivery of quality, with the objective of acquiring the ISO certificate in the near future.
• Increase the client portfolio, in all core services, to ensure profitability and envisage further growth of the business.
• As markets are dynamic and clients’ expectations are constantly altering, Business Center Serdon aspires to fulfill clients’ expectations by adapting its service offering.

Key Technical Highlights:

• Project Management Services Development: Serdon Project Management endeavored to plan, develop and implement financially and commercially sound business ideas and concepts, in view of enlarging Serdon’s service base; provide experience and knowledge as well as fresh ideas to develop this service.

• Gold Key Services Development: Assistance in the sales and marketing of Gold Key Services. Finding new prospects and creating and developing new relations with US companies and organizations.

• Financial Management Assistance: As financial planning is an important element of the Project Management Services, assistance in formulating financial plans for the business center’s clients was crucial. Business Center Serdon was also in need of assistance in its own financial management.

• Human Resources Training: Since the company was expanding rapidly there was a need for someone to train the new personnel efficiently, and to develop a training program for new staff.

Project Methodology:
An MBA Volunteer Advisor, Maury Wray, worked as a full-time employee with the business center for one year, assisting in the development of the above-mentioned projects.

Components of Sustainability:
The MBA volunteer initiated and assisted in a number of activities and projects that facilitated the sustainability of the organization. There are a number of areas in which she provided help and expertise:

• HR management / training of new staff
• Business plan development
• New product development
• Projects proposal preparation
• Development of a monitoring and evaluation system
• Exploring new market opportunities / market research
• Development of a marketing strategy
• Providing services to client organizations

Use of Best Practices:
Maury Wray assisted BSC in the formulation of financial plans for their clients and improving its in-house financial management tools. Due to her extensive expertise and sound advice, Serdon Project Managers have learned to plan, develop, and implement financially and commercially sound business ideas and concepts, in view of enlarging Serdon’s service base. In the first few months of her assignment with BSC, Maury updated the company’s website with relevant information. She managed to build trust among the team members at Serdon and together with the Director of BSC, she participated in meetings for almost all projects in development. Maury actively participated in off-site events as a representative of the company and tried to find a way to improve the BSO’s exiting sales strategy. She also worked to increase the capacity of the BSO’s staff through several internal trainings on time management, workload scheduling, marketing, Excel, and presentation skills. The direct result of these trainings was an improvement and optimization of workflow in the office. Maury also introduced concepts like long-term business planning and cash flow projections based on a revolving credit model, which have become part of the operational model of the organization. Due to her assistance, one non-profit organization, Eyes on Four Paws, won first place in the Counterpart International Social Enterprise Business Plan Competition, sponsored by USAID.

Results and Impacts:
As a result of VEGA’s assistance, the BSO increased its revenues by 31% and four new jobs were created. Business Center Serdon conducted series of consultations with investors (18) that resulted in the development of seven business linkages with investors at the total amount of 945,200 USD. The BSO successfully improved eight of its consulting services offered to SMEs and its client base increased by 15%.