Issue link: https://nebusinessmedia.uberflip.com/i/991325
W W W. M A I N E B I Z . B I Z 9 J U N E 1 1 , 2 0 1 8 Yarmouth Boat Yard said it became a dealer of BRIG Inflatable Boats. Opus Ventures, a private capital and investment firm in Portland, and the Skowhegan Savings Charitable Foundation announced the formation of the Western Maine Venture Fund. Qualified under the Finance Authority of Maine's Seed Capital Tax Credit Program, the fund will focus on sup- porting early-stage companies in Maine with growth capital funding opportuni- ties in western and central Maine. Volk Packaging Corp. said it will build a Military Heroes Wall at its head- quarters in Biddeford. All proceeds from project will be donated to the Biddeford, Saco, Old Orchard Beach Veterans of Foreign Wars. Sale of mill rounds out Rumford's big week Rumford Town Manager Linda- Jean Briggs announced that the town had won a $990,000 Community Development Block Grant on the same day that its largest taxpayer, Catalyst Paper, announced plans to sell its Rumford paper mill and a mill in Wisconsin to a Chinese paper company for $175 million. Earlier in the week, Briggs also learned that two census tracts in Rumford will be included in the new federal Opportunity Zones program, created by the Republican tax bill passed last year, that gives investors a tax incen- tive for using capital gains from other investments and applying them to developments in the designated areas. Catalyst Paper said June 1 it reached an agreement with ND Paper LLC to sell paper mills in Rumford and in Biron, Wisc., as well as its U.S. opera- tions center in Dayton, Ohio. Catalyst Q: How can we get our people to finish assignments and other tasks on time? They make promises and set completion dates, but we have a very bad record for on-time delivery. ACE Advises: We all are prone to optimistic expectations when we guess at completion dates before we start on the work. There are all sorts of bad results when we can't get things done on time. Opportunities are lost and other things get bumped back. There's a cascade effect. But you can't estimate everything very conservatively either, just to be safe. Doing that can be very costly, and it really loads on the risk. A lot of stuff just won't wait around for you. The way to guard against either tendency is to make planning a regular part of every effort, however small. A small job gets a small plan — but you never just jump in without preparation. First, specify the steps it will take. If you're not sure, don't guess. Check it out. Then estimate the time each step will require. If you have no idea and can't find out, make a specu- lative estimate, to be carefully monitored once you get going. An important part of regular policy for an organization that has had this problem is to make sure the process is documented and retained. What did your plan say, how did it work out, what changes were necessary? In following those practices, the organization gains two strengths: First, there's a dependable record for reference when some new activity is to be carried out. Second, staff members develop the expertise and the habit of thoughtful planning rather than hazardous guesswork. Plus, you get things done on time. A S K AC E A n s w e r e d b y J i m M i l l i k e n , p r o j e c t m a n a g e m e n t c o n s u lt a n t The Association for Consulting Expertise (ACE) is a non-profit association of independent consultants who value "Success through Collaboration." The public is welcome to attend its regular meetings to share best practices and engage with industry experts. For more information go to www.consultexpertise.com. Jim Milliken can be reached at jim@millikenproject.com. PORTLAND 207. 482.7920 | AUBURN 207. 791.2110 | NorwaySavings.bank these are my people I N V E S T M E N T M A N A G E M E N T T R U S T S E R V I C E S F I N A N C I A L A D V I C E E S TAT E P L A N N I N G • Not FDIC Insured • No Bank Guarantee • May Lose Value N O R WAY S AV I N G S A S S E T M A N AG E M E N T G R O U P As fiduciaries, we act with only your best interest in mind. C E N T R A L & W E S T E R N