Milo Pitner and his wife Kim Young Pitner first approached the Alaska Small Business Development Center in Wasilla in January of 2012. Along with attending several classes, the Pitners also met with Julie Nolen with questions on starting a well drilling business in Alaska. Milo’s family has a long history in the well drilling industry and his father owns a drilling and pump company in the lower 48 where Milo learned a lot about both running a business and the industry itself. Milo decided to branch out with his wife and establish Pitner Drilling & Pump Alaska in order to service Alaskan clients in the Mat-Su Valley region.
They first met with Nolen looking for assistance on the financial projections for their business plan. Milo and Kim had already made a lot of headway towards their launch by purchasing their business license, insurance, and some equipment and were looking to open as soon as they purchased their licenses.
By the time the Pitners met with Nolen for their second session they had officially opened and drilled their first four wells. They continued to work with Nolen on the financials of the business and as they progressed into their first year and met with her to discuss bookkeeping issues and creating the LLC. Now three years into the business, the company has experienced enough growth to hire on their first full time employee.
“We have really enjoyed working with Julie at the the AK SBDC this past year,” said Kim, “[and we are] looking forward to the future”.
Even though Milo grew up in the small business environment, he and Kim were still surprised to see everything that goes into starting a new business. The Pitners continue to work with Nolen and are planning to attend the Profit Mastery class in order to better understand the financials of their business.