Business Lessons from Local Small Business My Happy Pace
Mar 5, 2013
EMCC Student Kersten Curtis sums up an interesting guest lecture from My Happy Pace co-owner Lori Sideko:
When your instructor tells you there will be a guest speaker in class you usually are happy just because of the fact that you will get out of lecture and homework for the day, but when Lori Sideko from My Happy Pace came into our introduction to Business class it turned out to be a lot more beneficial than just getting out of class work.
Lori Sideko started My Happy Pace with her friend Jen. Lori started running three years ago and it quickly became a passion. Once it became a passion Lori quickly realized that running was a very expensive habit. She started My Happy Pace as a side job in addition to her job at the Student Wellness Center at The University of Maine in Orono. Lori and Jen are still in the start-up stage of their business, but they have come a long way. My Happy Pace now has its own logo, an online site where you can order gear, a Facebook page, a Twitter account and they make sure to have a tent set up at local races. My Happy Pace gear is made of recycled materials such as water bottles and bamboo. Which give the brand name a good reputation and advertising advantage.
In my opinion I enjoyed Lori’s visit to our class. She gave out excellent advice to us as young entrepreneurs, telling us how much easier it is to start a Limited Liability Company rather than any other type company because it has the cheapest start-up costs. She also told us how she used as many local (free) resources as she possibly could when she was starting up her business. Lori used the Innovation Center at The University of Maine, and she also went to local business owners for their advice as well. The other two important tips that Lori gave us were to know your competitors well and also if you want to start up a business just go for it instead of hesitating on what you really want to do. These are great words of advice to be hearing at this point in our careers, because many of classmates including myself might have the hesitation of starting up a business. There are many risks when starting your own business, but Lori’s story most definitely helped the class in the right direction.