Mainebiz

V O L . X X I V N O. X I I J U N E 1 1 , 2 0 1 8 26 S M A L L B U S I N E S S F O C U S Since fi nding her fi rst importer, Hong Kong has become her primary market for lobster, and now scallops and fi nfi sh, too. For 2017, exports totaled 250,000 pounds for all products, a 25% increase from 2016. Now Phillips is looking at broadening her market base and leverage the Maine brand. "Just in the past two years, you see a lot of value-added products popping up," she says. "How can Belle Cove add value to the wonderful products we sell that are from Maine? We're focusing on building the Belle Cove brand by creat- ing our own value-added products." Speaking with Mainebiz after her fi rst meeting with the Cultivator assessment team, Phillips says she's already seeing results. " ey had great questions and com- ments," she says. "When you're in the middle, sometimes you don't see what you don't see. But the assessment team looks at things more broadly or objec- tively. As a business owner, it's important to be open to other perspectives." Nailing down specifi cs At Two Fat Cats, owner Stacy Begin is also looking to expand marketing and distribution. She originally worked in the nonprofi t sector, most recently as program offi cer for the Davis Family Foundation. An enthusiastic home baker, she formed a baking company at home, still working at the foundation. By the second year, the bakery had taken over her house. In 2012, Begin and her husband, Matthew Holbrook, bought Two Fact Cats from its original owners, since then have doubled revenue and this year opened a second bakery, in South Portland. Begin realized she had a general idea for the company's growth, but needed to nail down specifi cs. Cultivator came along at the right time. " ere are lots of opportunities out there, and you want pursue them all," she says. "You need to decide, 'What am I going to concentrate on?' For us, it's looking at our shipping potential. We want to determine if that's an area of growth for us and, if it is, what do we need for production and investment and advertising and marketing?" Whether it's helping business own- ers, like Begin, with specifi c goals, or others, like Wilson, who need an overall foundation, programs like Cultivator are critical, says Rainey. " ere's excitement around start- ups," he says. "Generally, I think that people think that, once they're up and running and have a team on board, they're okay and they should just con- tinue to grow. But that doesn't happen. What happens is, they hit a wall and they stop growing. at's what we've seen. So to devote energy and attention to that is critical." L S, Mainebiz senior writer, can be reached at @ . » C O N T I N U E D F RO M PA G E 2 3 Do I sell my business to a competitor? Or to my employees? As a firm providing wealth management services to clients, we offer both investment advisory and brokerage services, which are separate and distinct and differ in material ways. For information, including the different laws and contracts that govern, visit ubs.com/ workingwithus.©UBS 2016. All rights reserved. UBS Financial Services Inc. is a subsidiary of UBS AG. Member FINRA/SIPC. 31.00_Ad_4.375x5.5_MH0524_TenS a b You worked hard building this business, but it's time to start a new chapter in your life. We know it's complicated. Our team can help you begin the conversation around transition planning and all of the responsibilities that come with running a successful business. For some of life's questions, you're not alone. Together we can find the answer. Family Wealth Management Partners UBS Financial Services Inc. One City Center, 7th Floor Portland, ME 04101 866-791-5512 ubs.com/team/fwmp There are lots of There are lots of There are lots of There are lots of There are lots of There are lots of There are lots of There are lots of There are lots of opportunities out there, opportunities out there, opportunities out there, opportunities out there, opportunities out there, opportunities out there, opportunities out there, opportunities out there, opportunities out there, opportunities out there, opportunities out there, opportunities out there, opportunities out there, and you want pursue them all. You need to decide, 'What am I going to concentrate on?' — Stacy Begin Two Fat Cats P H O T O / T I M G R E E N WAY Stacy Begin, owner of Two Fat Cats, in the kitchen at the India Street location. In 2012, Begin and her husband, Matthew Holbrook, bought the bakery from its original owners. Since then, revenue has doubled and the couple opened a second location in South Portland.

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