Category: Blog

As a small business owner you try to do it all: producing a product or service, marketing to attract new clients, running a retail operation, and keeping on top of the books and financial reporting. It’s a lot, and there never seem to be enough hours in the day. However, the important part of any small business strategy should be the ability to step back and look at your business as a separate entity, not simply an extension of your life—that’s a strategy for burnout. The key, to quote Michael Gerber, author of The E-Myth, is to learn how to “work on our business, not in your business.”

For quality of life, businesses and career opportunities, and access to education and health services, the Town of Roque Bluffs is proposing a community-wide broadband project that would bring fiber internet service to every premise in the town. At an informational meeting at the Town Hall on April 15th at 6:30 p.m., the Select Board and its citizen Broadband Committee will seek approval from residents to fund this project and pursue grant funding support.

Success in our Island Fellows program comes from many different areas. One such area is our intentional integration of Fellows as full members of the communities in which they live and work. We all understand that this process takes time, requires patience, and that it looks and feels different for each fellow in each community. We support the fellows in this community integration by helping them focus on it as a goal in the first quarter of their fellowship. Fellows reflect, in writing, about that experience at the end of their first three months on their island. Learn more about what becoming a part of these communities means to three Fellows as they reflect on their experiences.

Most small business owners feel isolated—there is rarely an opportunity to share questions, concerns, or ideas around what works for others in a non-competitive environment. At the Island Institute, one of our goals is to connect island and coastal business owners with peers so that they can have those conversations. Connecting with peers and colleagues is one of the many ways we help address this and other challenges these new small business owners face. A good example of this type of networking is the annual “Industry Day” event that our ABD program hosts for its participants. This marketing-focused day provides an opportunity for these aspiring aquaculturists to establish relationships with buyers, wholesalers, restaurants, and retailers.

Yes, it’s that time of year. Funny how vacations seem to take forever to arrive, but tax season is suddenly here again. If you’re like most people, you don’t listen to the news with baited breath waiting for the latest information on recent tax changes. As a business owner, taxes are always in the back of our minds. In a retail situation, it’s sales tax; but annually we all also have to think about our business and personal taxes. While many of the changes that take place in our tax laws over the course of a year have no impact or effect on us or our businesses, this year there have been some changes that may affect business owners on Maine’s islands and coastal communities.

Have you ever wondered what aquaculture was about or what it would be like to have your own farm for mussels, oysters or kelp? Now is a great time to begin your own aquaculture business right here in Maine. Through the Aquaculture Business Development (ABD) program, the Island Institute is working to help fisherman and people from coastal communities diversify into shellfish or seaweed aquaculture. Join the Island Institute’s fourth Aquaculture Business Development cohort—Applications open February 1, 2019!

Last month, we talked about the dilemma of most small business owners and how a business can take over your personal life. We hope the piece gave you pause to think about parts of your life that may be out of balance and some steps you might want to take to re-align your business and personal lives. This month, as we close out the calendar, take a breath, and begin to think about tax season, it’s a great time to talk about some business management practices that may help your business—and your life—run a little smoother.