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|Articles - August 2010|
|Wednesday, July 21, 2010|
Page 3 of 5
Here is how Grimes describes his exit from the first of four businesses he has launched: “After about two years I got bored, sold it, started doing other things.”
Here’s his take on innovation: “The half-baked notion where you don’t even know what the product is or what the market will be, that’s what’s exciting to me. That’s where true innovation comes from.”
Grimes says all of the companies he’s founded, including the web advertising agency he launched in 1996, Eyescream Interactive, were profitable within 90 days in spite of not having business plans. But he got hit badly by the dot-com crash and Eyescream collapsed in 2001.
“A handful of really bad things happened as a result of having a five-year lease with a personal guarantee,” says Grimes. “It was not a pleasant time, but we did not have to file for bankruptcy and all the staff was paid.”
Even that grisly business experience could not beat the entrepreneurial zeal out of Grimes. He’s invested in a dozen companies in Portland and San Diego, launched a philanthropic water service, helped organize a Maker Faire in Ghana and placed more than 7,000 loans through Kiva, an online micro-lending program that connects investors from rich countries with entrepreneurs in poor countries. He hopes to take the NedSpace concept, a “cross-pollination of experience and ideas” as he describes it, and expand it nationally along with the high-volume, small-scale seed fund that he believes would complement it neatly.
His vision for such a fund involves seeding between 20 and 50 companies per year with $25,000 to $100,000 each. Grimes insists that spreading the investments widely would produce better results than mega-investments in one or two enterprises (think ethanol plants). “Are a third of them going to fail? Absolutely. We’re going to say that going into it,” he says. “Or maybe 20% or 25% will fail. But plenty will succeed. And what’s fail anyhow? If it employs people for a year and brings in taxes, is it a failure?”
Grimes argues that the successes resulting from such a program would bring further successes, improving Portland’s reputation as a city eager to host entrepreneurs, as opposed to an environment hostile to business. “If money is flowing through the city to start-up companies, people will move to Portland to start up companies,” he predicts. “You can do amazing things for startup companies with just $25,000 to $100,000.”
Tuesday, June 03, 2014
Citing the transition to catch shares management as a key to rebuilding stocks and reducing bycatch, 13 species caught by the West Coast trawl fishery today earned designation from the Marine Stewardship Council (MSC) as sustainable.
Friday, June 13, 2014
BY CLIFF HOCKLEY | OB GUEST BLOGGER
This article summarizes the key considerations a building owner must keep in mind when thinking about leasing to a medical marijuana dispensary.
Tuesday, July 08, 2014
BY LINDA BAKER | OB EDITOR
The New Yorker recently published a sharply worded critique of “disruptive innovation,” one of the most widely cited theories in the business world today. The article raises questions about the descriptive value of disruption and innovation — whether the terms are mere buzzwords or actually explain today's extraordinarily complex and fast changing business environment.
Update: We caught up with Portland's Thomas Thurston, who shared his data driven take on the disruption controversy.
Thursday, June 26, 2014
Friday, June 27, 2014
BY JASON NORRIS | OB BLOGGER
Over the last several months we have seen a wave of cross-border acquisitions, primarily U.S.-based companies looking to purchase non-U.S.-based companies. There are a few reasons for this, but the main culprit is the U.S. corporate tax system. The United States has one of the highest corporate tax rates in the world.
Thursday, July 24, 2014
BY LINDA BAKER | OB EDITOR
Remember the naysayers? Those who called the South Waterfront aerial tram a boondoggle? Those who rejoiced at the massive sell off of luxury condos at the John Ross and Atwater Place?
Wednesday, July 02, 2014
BY JESSICA RIDGWAY | OB WEB EDITOR
Dress for Success Oregon promotes the economic independence of disadvantaged women by providing professional attire, a network of support and career development tools.
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