The Old College Try A flood of new entrepreneurs find it often pays to go back to school

Laura Lober

Jordan Holt needed a business plan. So he went back to school.
A technician for a military contractor in Yuma, Ariz., Mr. Holt launched a side business last year, servicing and repairing generators–and quickly realized he would need to write up a formal plan if he ever wanted to borrow money for equipment. But after doing some online research, putting together a plan “looked complicated and overwhelming,” he says.
He decided to get the help he needed from a business-plan development course at Arizona Western College in Yuma. “I was able to take everything in my head and put it down on paper,” says Mr. Holt, a 29-year-old ex-Marine. “I truly think it could work.”