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|Articles - July/August 2012|
|Monday, July 09, 2012|
BY JON BELL
He runs a successful business growing and selling exotic coral from around the world. He gets fabric from China and has it sewn into cloth flowerpots at a factory in the Philippines, which he then imports and sells nationwide. And yet 26-year-old Ian McMenamin failed his international distribution class at the University of Oregon three times.
“My real effort was with my businesses outside,” says the recent graduate of the UO’s business program and an inveterate entrepreneur. “My businesses are my life.”
Raised in affluent Marin County, Calif., McMenamin was 13 when he started working at a pet store that had an amazing saltwater fish tank. Well-heeled customers would roll up in fancy cars to buy exotic — and expensive — coral.
“I fell in love with the tanks and with that lifestyle,” McMenamin says. “I knew that’s what I wanted.”
It took some time, but eventually McMenamin was not only selling coral, but was learning to grow it himself. When it came time to look for a business school, McMenamin headed to Eugene in part for its lower overhead costs and cheaper water to grow his coral. Today, with his company Anything Coral, McMenamin grows all his own coral in 15 8-foot tanks in the basement of an apartment building. Coral prices range from $5 to several thousand dollars per piece, and he has wholesale distribution hubs in four U.S. cities.
McMenamin’s latest endeavor is a cloth flowerpot company called Yield Pots. Backed by a private investor, McMenamin found traders to work with in the Philippines who helped him source materials and find workers to sew the pots, which have become popular with nurseries and hydroponic growers. He did an initial run of 20,000 pots and a second of 80,000. The pots are now in 60 stores across the country, and McMenamin is working on a third run of 160,000 units. He’s also got another gardening product in the works.
If it all seems like a little too much work to fit into a single day, that’s because it almost is. McMenamin says he’s always working and only sleeps about five hours a night. But that’s just how he likes it.
“I hustle as hard as I can,” he says, “because I don’t ever want to look back and think about a time in my life when I was slacking.”
Thursday, March 27, 2014
BY MARY SPILDE | OP-ED CONTRIBUTOR
Community college career, technical and workforce programs present an opportunity to bring business and education together as never before.
Tuesday, February 25, 2014
BY AMY MILSHTEIN
Kelly Dachtler, president of The Clymb, redefines outdoor retail.
Thursday, February 20, 2014
BY VIVIAN MCINERNY | OB BLOGGER
As retailers consolidate and newspapers fold, the business of modeling shifts to ad agencies, apparel companies and new media.
Thursday, February 27, 2014
Our 100 Best Companies project turned 21 this year, so pop open the Champagne. Our latest survey gives us plenty to cheer.
Friday, February 28, 2014
The 21st annual 100 Best Companies to Work For in Oregon list was announced Thursday night at an awards dinner at the Oregon Convention Center.
Tuesday, February 25, 2014
BY JESSICA RIDGWAY
A self-proclaimed “chile head,” John Ford “grows, eats and does everything spicy.”
Tuesday, February 25, 2014
BY BRANDON SAWYER
Sales of small businesses surged in 2013 according to the biggest Internet marketplace of such transactions, BizBuySell, increasing to 7,056 reported sales, a 24% increase over 2012, when they dropped 7%. Portland Metro sales tracked by the site grew 9% to 73, capping three years of solid growth. On top of that, Portland’s median sale price jumped 67% to $250K, versus just 13% to $180K nationally. Portland was one of just six metros tracked where the median sale price matched the median asking price, with sellers getting, on average, 92% of what they asked.
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