The Mainebiz small business focus is typically our largest issue of the year, not including the Book of Lists or Fact Book: Doing Business in Maine. Like any reader, I enjoy hearing stories from entrepreneurs. There are certain things we look for in a story. How the entrepreneur took an idea from a napkin drawing […]
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The Mainebiz small business focus is typically our largest issue of the year, not including the Book of Lists or Fact Book: Doing Business in Maine.
Like any reader, I enjoy hearing stories from entrepreneurs. There are certain things we look for in a story. How the entrepreneur took an idea from a napkin drawing at the kitchen table to create a prototype and eventually a product — that’s interesting, of course. More than that, I’m always curious how someone convinced an investor this was a good idea. How did the entrepreneur convince his or her spouse or family this was a good idea — that can sometimes be harder than convincing an investor. We’ve all read about small business owners who have staked everything on the business, borrowing money from friends or family or launching a Kickstarter campaign.
For one story I wrote in Philadelphia, a first-time restaurant owner told me she logged more than $25,000 in credit card debt to pay for the venture. I’m sorry to report the restaurant didn’t survive.
Entrepreneurs’ stories are addictive. As anyone who is a fan of Inc., Forbes, the Wall Street Journal or the New York Times’ small business profiles can tell you, there’s a certain formula involved in the narratives. We’re always looking for those unusual nuggets: Not just the unusual or innovative product, but the story behind how it found a place in the market. And how the entrepreneur weathered the chorus of doubters.
This issue of Mainebiz is chock-a-block with stories about small businesses and the people behind them.
Senior Writer Lori Valigra talks to Jess Knox for our cover story about Maine Startup and Create Week, which in just a few years has embedded itself into Maine’s entrepreneurial fabric. She also talked to an MIT doctoral candidate who developed an underwater drone.
Correspondent Tina Fischer met with the partners at Good Natured Brands, which is making inroads into the natural cleaning products arena. Lisa Hansen, one of the owners, talked about the need to stay focused. “One of the challenges is to remember, ‘What’s your vision and how do you see the company?’ You have to stay focused. You may not always be right, but you have to go with your gut.”
Laurie Schreiber, our correspondent based on Mount Desert Island, talked to business owners in the burgeoning community of Town Hill. One business owner, Melissa “Frosty” Frost, had always dreamed of opening her own business. This spring, she took the plunge with Frost Farms, which sells plants and gardening supplies.
Laurie also has a story about all the new businesses in Camden. Going back to my family’s tourist days in Maine, I was always a fan of the atmosphere at Cappy’s Chowder House, even if it was a tad overpriced. It’s a good sign that Cappy’s site is being remade into a Sea Dog Brewing Co. brewpub, anchoring the downtown at the appropriately addressed 1 Main St.
Finally, businesses of all kinds will be watching warily the new federal overtime rules. Senior Writer James McCarthy immersed himself in the nuances of the rules and his account is a must-read for business owners.
