Born in New York City on June 21, 1931, Warren Holtzman graduated from New York University School of Commerce, Accounts, and Finance in 1952, whereupon he worked for a short time in the contract division of W. & J. Sloane. After serving in the U. S. Army from 1953 to 1954, Holtzman became president of Warren Lloyd, Inc., a family business. He worked as a project manager for Serge A. Birn Co. for a short time, then became president of Warren Furniture, Inc. in 1962. He also served as president of Warren Lloyd Contract Division, Weiman Co. (1970-1981) and Vision, Inc. (1976-1981). In November, 1980, Holtzman was named director of Virginia Tech's Small Business Institute, a part-time faculty position that allowed him to continue his private business and consulting activities. Succeeding Bruce Prouty as director, Holtzman gained a reputation for his unorthodox but successful methods. Holtzman resigned in late 1983, taking effect early the following year. Following his resignation, Holtzman continued to work as a lecturer, trainer and consultant. Warren L. Holtzman died on July 10, 2012.

Created in 1972 as a partnership between the U. S. Small Business Administration and institutes of higher education, small business institutes offer practical assistance to small business owners while providing experiential learning to students. The SBI at Virginia Tech was founded in 1973. In 1984, the Virginia Tech SBI won the 1981/82 national case of the year award for its case study of Maxwell's Restaurant & Lounge. Other Virginia Tech SBI case studies during this time won district awards.