 |
|
A History of - The Minnesota Entrepreneurs, Inc.
by Mary Martin Mason, Managing Director (Compiled in 1998) |
MEC Presidents
1981 - MEC BEGINSLike many business ventures, The Minnesota Entrepreneurs’ Club (MEC) began with a simple idea that eventually outgrew itself. In the fall of 1981, Control Data Corporation assembled a small group in order to attract clients to Bill Norris’s new business incubator concept. The draw was guest speaker, Leo Hauser whose topic was, “Reach for the Moon and You'll Land Amongst the Stars.” The planetary theme was appropriate to the early 80s, when a growing number of entrepreneurs, like astronauts, were risking safety and security in order to explore the unknown. A new decade was dawning with a United States president who believed in the power of the private enterprise system. There was a need for entrepreneurs to fuel this process. The few who gathered at that first meeting were frustrated with their inability to harness their dreams and energy. They recognized the value of ongoing motivation, networking and education. By 1982, an informal, steady group was holding monthly meetings in Minneapolis. They called themselves the Minnesota Entrepreneurs’ Club (MEC). In those days, entrepreneur was a strange French word that had not gained recognition among the business community. The exotic pronunciation and spelling fit those willing to label themselves as risk-takers. They tended to be dreamers who were willing to sacrifice much… perhaps all… in order to achieve success. The MEC quickly caught on as employees from organizations, large and small, flocked to hear words of inspiration from successful entrepreneurs and educators such as Leo Hauser and Curt Carlson. The MEC was soon fulfilling its mission of educating and motivating would-be and actual entrepreneurs and providing networking opportunities. No effort was made to separate the “wanna-be” from the “actual” entrepreneur, a differentiation that was left up to individuals. The first president, Mark Peltier, and each ensuing president of the MEC assumed leadership of a club that reflected challenges and characteristics that are unique to entrepreneurs. Membership waxed and waned in response to economic trends and individual circumstances. The success of the MEC was never measured in the number of members, but rather by the number of entrepreneurs who used the club’s services to start or upgrade their ventures. Since the 18 years since the club’s inception, membership has mirrored recessions and boom times, sometimes peaking when down-sizing and corporate take-overs gave reluctant entrepreneurs a push. For former executives, engineers and other ex-employees, MEC offered the hope of transforming a crisis into an opportunity. Former president and long time board member, Bill Lehnertz describes how members find common ground and support in MEC. “You'd hear someone wondering how to tell their spouse that they hadn't made the house payment… again. Or they would try to explain how they just purchased $50,000. worth of equipment needed in their business, but they couldn't spring for a $50.00 vacuum cleaner for their wife.” Another former president, Mike Tikkanen, believes MEC’s greatest asset is making the concept of entrepreneur become human and alive. Networking allows members to hear bits of business and personal life that surpassed the academic approach to the topic. Tikkanen said, “The concept of entrepreneur is so much bigger than any isolated area of study. In the early days of MEC, it was considered a business class like accounting where the mechanics were taught. What I learned from presentations like “Battered Dreams and Bloodied Noses” (a panel featuring Jay McCloskey, Norm Stoehr, Steve Wilcox and Dan Baumann) was the added and necessary dimension of failure. As I get older, I understand how profoundly important it is to fail. I think the pinnacle of what this group is able to teach is the human element. In MEC you hear many human stories of those who have fallen and been beaten up and yet get patched and then succeed.” MEC quickly gained the reputation as an affordable, hands-on source of networking, motivation and information. Since 1981, MEC members have gained the courage to take the entrepreneurial journey. Providing inspiration through educational and motivational speakers and through hands-on networking and connections with venture capitalists, bankers and other experts has been a mainstay for the organization. Events Highlighted - 1981Leo Hauser was the first guest speaker in September, 1981, for the fledgling group that would evolve into the MEC. His topic was “Reach for the Moon and You'll Land Amongst the Stars.” Events Highlighted- 1982The first board consisted of Paul Christensen (Vekich, Arkema & Company), CPAs), Marty Vietoris (Rust-Oleum), Mark Peltier (Aero Static Technology Inc.), Tom von Kuster, Jr. (Butler Research & Engineering Company) and Ted Furber (O’Connor & Hannon). Fifteen members comprised the initial membership of 1982. Articles of Association to govern the MEC were written and the first annual meeting was held. Annual dues were $10.00 with a $1.00 door fee for members and $2.00 for nonmember. Speaker Highlighted - 1983Curt Carlson drew a crowd of over 200 who gave him a standing ovation. The brightest and best of venture capitalists spoke on a panel, including E. Hunt Greene (president of Piper, Jaffray & Hopwood Venture), Brian P. Johnson (Investment Officer with FBS Venture Capital Company), Peter Randall (First Vice President of Dain Bosworth, Inc.), Andrew Greenshields (General Partner with Pathfinder Venture Capital Fund), Walter Tiffin (treasurer of First Midwest Capital Corporation) and Doug Johnson (vice president of Northwest Growth Fund, Inc.) . Ted Larsen was both speaker and tour guide as the MEC explored his Detector Electronics factory in Bloomington. Events Highlighted - 1983A unique meeting was held aboard the Jonathan Padelford Boat on the Mississippi River as Captain William Bowell gave an account of his floating success. The early years of MEC sometimes included outings to a speaker’s factory or place of business. Dinner meetings were used as enticements for new members. Speaker Highlights - 1984Manny Villafana of Cardiac Pacemakers and St. Jude Medical told about his rise from humble beginnings in New York and the importance of persistence. “The Franchise Alternative: Should You Become a Franchisor or Franchise?” was answered by guest panelists: Donald DeLaria (president and CEO of Kentucky Fried Chicken), Anne Kerr (president and CEO of The Apartment Guide), John A. Campbell (President and CEO of The Franchise Store and Franchise Venture, Inc.) and Robert A. Brunig (Attorney at Law with O’Connor & Hanan, Law Firm). Events Highlighted - 1984A trip to the Old Log Theater provided an “annual summer escape.” Before dinner and a play, Don Stoltz and Bob Williams highlighted the success of the Old Log Theater. Annual dues were raised from $10.00 to $12.00. A survey of members found that 72% were male with a majority of members being 35 to 44-years-old. A majority of respondents (48 %) were in business for themselves or had a part time business (23%). Sixty percent owned a service-type business with 15% in manufacturing and 9% in retail. Most of the businesses (92%) were started from scratch. The most common reasons stated for joining MEC were:
Speaker Highlights - 1985John Gallos, host of WCCO’s Career Network Report, recapped highlights from his program. Harry W. Cramer of St. Albans Capital Corporation, gave insight on his startup venture capital corporation that emphasized seed capital investments. Events Highlighted - 1985The Cash Flow, a mimeographed 2-sided flyer, served as the first MEC “newsletter.” Included was a marketing column by Carolyn Hiatt of Hiatt Associates, a President’s Corner by president, Tom von Kuster, and a legal advice column, Final Authority by Ted Furber. This first newsletter was edited by von Kuster in his basement, using an antiquated PC. MEC sponsored The Entrepreneur seminar which featured Dick Eichorn of CPT Corporation, Susan Mundale and Carol Pine as marketing specialists, George Butzow as CEO of MTS Corporation, Jim Hearon as CEO of National City Bank, and Ted Larson as CEO of Detector Electronics. Also appearing was Dudley Riggs who was billed as “CEO of Dudley Riggs Theater.” Speaker Highlights - 1986Robert D. Swenson, CEO and Chairman of the Board of Mesaba Airlines spoke on “Innovation in the Airline Industry.” Allan Sprau, president of the software company, Metafile Information Systems outlined “A Career Plan For An Entrepreneur.” Manny Villafana made a return engagement, this time outlining his success with GV Medical, Inc. Events Highlighted - 1986Members sought counsel from MEC on marketing and image-making which was addressed by Thomas C. Nelson of Nelson Walby, Inc. as he spoke on “Marketing Communication: How To Look and Act Like A Business.” Entrepreneurial organizations began to be formed around the country and some such as the Baltimore Entrepreneurs’ Club contacted the MEC for advice. Speaker Highlights - 1987Steve Schussler experimented with a theme restaurant, using 50s nostalgia to establish Jukebox Saturday Night. That prototype eventually led him to create the nationally popular Rain Forest Café franchise. At 35, Leo Hauser had sold his seat on the New York Stock Exchange in order to help entrepreneurs realize their life potential. Hauser, author of Five Steps to Success and former National Product Manager for General Mills, was one of the founders of MEC and its first guest speaker. Daryl Erdman, Chair of Small Business and Entrepreneurship at the College of St. Thomas, posed the question: “College Professor and Entrepreneur - Another Oxymoron?” His presentation emphasized a winning combination: a passionate interest + entrepreneurial savvy = success. Max Fallek of the American Institute of Small Business spoke on “The Fear and Anxiety of Starting a New Company.” As the 1986 incoming president of MEC, Will Swerdlick inherited a zero bank balance, due to the inconstancy of membership. (Success and its reverse often resulted in attrition for members.) Swerdlick’s belief in the value of the organization led him to take on the task of building up the club. He first procured a MEC logo and then bartered with a local printer to print a MEC newsletter in exchange for an ad. This newsletter replaced the Cash Flow flyer that was distributed to members. Despite the current practice of dropping names of those who weren't paid members, Swerdlick mailed newsletters and invoices to anyone who had ever attended a meeting. Event Highlights - 1988Mary Martin Mason was hired as Managing Director for the MEC to assist with the newsletter and other managerial duties. Articles of Incorporation and By-Laws for the MEC were written as well as a strategic plan outline of goals AN ANNUAL “ENTREPRENEUR OF THE YEAR” AWARD WAS ESTABLISHED AND PRESENTED TO CURT CARLSON. Despite the wind-chill factor, a standing-room-only crowd saw Curt Carlson receive the first MEC Entrepreneur of the Year Award on January 5, 1988. According to the MEC newsletter, “Only a man of Carlson’s entrepreneurial stature could coax an audience out into the elements.” Carlson received a personalized Curt Carlson Wheaties box and an inscribed plaque to be passed on to future MEC Entrepreneurs of the Year. Speaker Highlights - 1988Norm Stoehr of The Entrepreneur’s Network ( a professional, for profit organization for business owners) revealed how he had developed networking into a fine art. Dr. Rajiv Tandon recounted his research about critical success factors in the entrepreneurial process. The popularity of his long-term research would make him a perennial favorite among MEC speakers. Meeting in the Minneapolis Business and Technology Center (formerly the Control Data building) created some challenges. The site shared parking with the Dome and on baseball nights, MEC officers doubled as parking lot attendants. The cafeteria location was not off-limits to tenants who occasionally interrupted a guest speaker by making microwave popcorn. The round tables in the BTC greatly facilitated networking among members. President Will Swerdlick devised a “4-months free” membership bargain that allowed members to join in October and receive an entrepreneurial deal. A panel of media stars addressed: “How To increase Market Awareness through Cost-Effective Public Relations.” Dick Youngblood of the Star Tribune, David Beal from the St. Paul Pioneer Press and Gail Marks Jarvis of City Business were among the panelists. Speaker Highlights - 1989HARVEY MACKAY WAS AWARDED ENTREPRENEUR OF THE YEAR FOR 1989. Mackay handed out shark pins and copies of his best seller, Swim With The Sharks Without Being Eaten Alive. Scott Drill of Varitronics, Inc. was a tour de force in the electronic lettering machine industry in 1989. In 1996, Varitronics was the target of a hostile takeover and became a wholly owned subsidiary of W.H. Brady. Horst Rechelbacher of Aveda evoked gasps among some old guard MEC who suspected that his planet-friendly business philosophy would never work in the real world. In 1998, Rechelbacher sold Aveda to Estee Lauder for $300 million. Daniel Sarno, co-owner of Two Guys from Italy Restaurant, arrived in America with $200.00 in his pocket. His account of rising from busboy to restaurant owner was an inspiring presentation. Wendell Maddox saved the government millions on federal projects and in the process, generated $4 million in annual revenues for his electronics company. Maddox’s roller coaster entrepreneurial career would be highlighted in years to come as MEC followed his story. Speaker, Robert Taylor of Minnetonka Corporation had translated liquid soap and pump toothpaste into a $200 million company by 1987. Events Highlighted - 1989Mike Dixon, MEC secretary, was tragically killed in a car accident during a blizzard. Dixon came to MEC as a St. Thomas College student and continued to be an active board member after he secured a position as staff consultant in the Entrepreneurial Services Group of Arthur Young & Company. Area Networking Groups were established in St. Louis Park, Eden Prairie and St. Paul. These groups reflected the members’ growing interest in extending networking beyond the monthly meetings. Meetings often began and ended with a testimony from longtime board member, Will Swerdlick who encouraged nonmembers to join. “This is the best bargain in town,” he’d say. “If you come each time, you'll find at least one meeting and one speaker that will more than make up for the entire cost of your dues.” President, Mike Tikkanen, wrote thought-provoking columns for each newsletter regarding business politics and ethics Speaker Highlights - 1990ENTREPRENEUR OF THE YEAR: GLEN TAYLOR OF TAYLOR CORPORATION. Long before his bid for the Minnesota Twins would make him a household word, Glen Taylor quietly told his story. His low profile and non-corporate image impressed the MEC as much as his remarkable printing success. Four years later, he would acquire the Minnesota Timberwolves for $88 million. David McNally, author of Even Eagles Need a Push: Learning to Soar in a Changing World, separated failure from defeat in an inspiring presentation. Chuck Welle & Rick Frost of Computer Renaissance created a winning idea of recycling used PCs. Computer Renaissance was later acquired and franchised by master franchiser, Jeff Dahlberg. Rebecca Amble of Future Focus was one of the first MEC speakers to address the importance of developing future market strategies. Events Highlighted - 1990Vice President, Ted Furber traveled to Eastern Europe and shared his view of “the now transparent Iron Curtain.” He expressed hope that Western countries would donate technology and money to the collapsed infrastructure in Eastern Europe. Recycling and refocusing was a recurring theme among networking efforts and speakers in 1990. Speaker Highlights - 1991ENTREPRENEUR OF THE YEAR: MANNY VILLAFANA OF HELIX BIOCORE, CARDIAC PACEMACERS AND ST. JUDE MEDICAL. Villafana questioned whether MEC wanted to give him the award, revealing that Helix BioCore was in financial trouble. President Bill Lehnertz assured him that true entrepreneurs often travel both an upward and downward path. Lehnertz told Villafana, “We sure won’t change our minds because being an entrepreneur is sophisticated risk-taking. You've created employment and major businesses in Minnesota, and you're always ready and able to give back to the community.” Esperanza Guerrero-Anderson established the $1.70 million Milestone Growth Fund, Inc. to provide long-term financing to minority-owned businesses. Cheryl Babcock had made it her life’s work to study franchising and is the Director of the Franchising Institute at the University of St. Thomas. Gae Veit broke barriers as a woman and as a native American by establishing Shingobee Builders. Dorothy Dolphin did not enlist the help of her brother, Carl Pohlad, when she was unexpectedly widowed and became the sole support of her three children. Instead, she created the highly successful Dolphin Temporary Help Services which she described in her talk, “Making Temporary Help a Permanent Success.” Events Highlighted - 1991Female entrepreneurs increased among MEC membership and were frequently featured speakers. This trend reflected a national demographic among business owners. Membership was around 150 in 1991 and reflected the up and down cycle of entrepreneurship. (Both success and its reverse affected renewal rates among members.) Speaker Highlights - 1992ENTREPRENEUR OF THE YEAR: IRWIN JACOBS. JACOBS' list of businesses included Minstar Inc., Genmar Industries Inc., Watkins Incorporated, Jacobs Trading Company and Jacobs Investors, Inc. Speaking about his boyhood days as a 12-year-old who peddled junk he said, “I was never embarrassed. I believed it a necessity to make the next step. I was driven to make something of my life.” Tom Gegax of Tires Plus survived initial failures before rolling out a success through a highly successful tire franchise. His initial $15,00 loan in 1976 led to annual tire sales of $50 million in 1992. Speakers such as Lee M. Berlin of LecTec Corporation, brought a global vision of business to the MEC. His Minnetonka-based high-tech medical company had formed alliances with various foreign competitors. Bill Popp of LDB International Corporation went up against the long distance giant AT&T and won! His tactic was to buy time from AT&T, MCI and Sprint, and then resell it at a profit. Dr. Cary J. Tutelman of CJT Company spoke on, “The Myths and Realities of Being An Entrepreneur.” Among the myths he discussed were that one’s family will unwaveringly support an entrepreneur’s dream. “Your dream may not be their dream,” said Tutelman, “which will be a big problem. Your family must accept and be in your dream.” Events Highlighted - 1992MEC moved the meeting site from the Business Technology Center to the University of St. Thomas. Although networking efforts were more difficult in the St. Thomas auditorium, the new location was a vast improvement in comfort and in accommodating the audiovisual needs of speakers. MEC member, Janie O’Connor was featured in The Wall Street Journal for her company, Interface:Work/Family which helps shiftworkers adjust to their lifestyle. Although the dues remained at a bargain $25.00 yearly, the entrance fee was increased from $1.00 to $2.00 for members and $5.00 to $10.00 for nonmembers. Speaker Highlights - 1993ENTREPRENEUR OF THE YEAR: LEEANN CHIN OF LEEANN CHIN, INC. told of her early years in America, serving Chinese meals to sewing customers, through the establishment of a carryout franchise. She had recently reclaimed her business which she had sold to General Mills. In 1993, she was expanding to Byerly’s and opening other locations. Five years later, she would own 25 area Leeann Chin Chinese Cuisine Restaurants and Leeann Chin Carryouts. Dr. Rajiv Tandon, Director of the Institute for Venture Management at University of St. Thomas, returned to update the MEC on his research about components necessary to be a successful entrepreneur. Seasoned entrepreneur, Jerry Robinson recounted the 6 companies and 5 new ventures he had started. His newest startup, Pathfinder Research Company, assisted companies and entrepreneurs with introducing and positioning new products and ventures. Jeffrey Dahlberg proved his mastery in franchising as he spoke on “Growing Businesses Through Franchising.” Dahlberg’s star franchises included Play It Again Sports, Once Upon A Child and Music Go Round. Claire T. Hovland of Applied Biometrics, Inc. created a business out of noninvasive medical treatment for measuring cardiac output using Doppler ultrasound. Events Highlighted - 1993Pre-meeting sessions were added to the monthly agenda. Early birds came to hear presentations such as Bill Lehnertz and Scott Kaiser speaking on “Health Care Reform and the Entrepreneur.” Annual dues for MEC were raised to $35.00 in order to provide ongoing services to members. One hundred members belonged to MEC and meeting attendance ranged from 70 to 200. Speakers Highlighted - 1994Barbara King of Landscape Structures, Inc. designed and manufactured products for playgrounds located around the world. With an initial investment of $1,000., she and her husband had captured 10% of the playground equipment market. Dave Pomije made a profit out of fun by capitalizing on the resale of used video equipment. His FuncoLand stores now dot the heartland as the largest chain of used video games. Augustine Medical was a company founded around an invention of anesthesiologist, Dr. Scott Augustine. His heating device which counteracted hypothermia in surgical patients was highlighted by Augustine as he spoke on “Making A Go of Your Great Idea.” George Kline was one of a long line of “angels” who created standing-only crowds at MEC. Kline of Venture Management, Inc. gave tips on procuring financing in “The Role of the Angel - Investor in the Venture Community.” Former Entrepreneur of the Year, Manny Villafana made a return appearance to MEC and highlighted his latest venture, ATS Medical, Inc. Events Highlighted - 1994Norton Stillman of The Bookman continued to donate a book for a monthly drawing to the MEC. His generosity prompted “shy” entrepreneurs to stand up and recap their business ideas. At least one lucky audience member would receive a book for his or her efforts. Inventors often joined MEC to learn how to get their product to market and beyond. Speakers Highlighted - 1995MEC ENTREPRENEUR OF THE YEAR: SENATOR RUDY BOSCHWITZ told the story of his family business, Plywood Minnesota (which was later renamed Home Valu) as he was feted by the MEC. Sen. Boschwitz said, “America has been magnificent to me and my family. I have certainly lived the American dream. I owe back a lot in return.” Joe Shuster of Teltech Resource Network Corporation was one of a growing list of speakers who would tackle The Information Age. His information empire provided experts, literature searches and vendor services to more than half of the Fortune 500 companies. Wendell Maddox made a much appreciated return visit to speak about “Rising From The Ashes II.” In 1990, his $8 million business failed overnight following an accusation by the federal government that Ion Electronics had overcharged the Navy for a small gun part. In a memorable, inspirational presentation, Maddox told of rebuilding a business after being exonerated of this charge. MEC president, Phyllis Burdette brought the MEC up-to-date on a recent White House-sponsored conference on Small Business. A recap of the Washington DC event was presented by those who had attended. (Rick Ford, Carol Jensen, Lyle Clemenson, Roy Jenks, Phyllis Burdette and Wendell Maddox.) Events Highlighted - 1995The year began with the business law firm, Merritt, Furber & Timmer, contributing panelists who discussed, “Everything the Entrepreneur Should Know about Law Firms and Lawyers.” Panelists included former MEC president, Ted Furber and a future MEC President, Roger Zahn. The MEC newsletter got an updated look and logo. Longtime member, Ed Palmer’s company Solar Attic, Inc. held an initial public offering of common stock. The Young Inventors, ages 9-12, began a tradition of annually showing their inventions to the MEC. Speakers Highlighted - 1996MEC ENTREPRENEUR OF THE YEAR: CARL POHLAD thrilled the MEC audience with a spirited presentation that revealed his never-lagging enthusiasm for entrepreneurship. With knee-replacement surgery scheduled, Pohlad occasionally had to sit, but his energy never lagged. He brought along his right-hand man, Don Benson to assist him in his presentation. Benson sat down more than Pohlad. As expected, Pohlad cut through the hype, saying, “I don’t like the word, entrepreneur. I prefer people who want to be in business for themselves” Highlights of the evening were his accounts of “deals we didn’t make,” describing near-acquisitions of the New York Yankees, Waddell and Reed, 20h Century Fox Studios and a Houston extravaganza that included the Houston Chronicle, Texas Bank of Commerce, the Rice Hotel and three blocks of downtown Houston. A month before his resignation as CEO of Olympic Financial Ltd., Jeff Mack showed no signs of his soon-to-be forced exit as he spoke on “Building a Billion Dollar Business in Auto Financing.” His independent auto finance company serviced more than 200,000 customer loans within a servicing portfolio of $2.6 billion. In July, Mack told the MEC that he viewed each obstacle as an inevitable part of the entrepreneurial process. The newsletter reported, “The newest, and perhaps most momentous of obstacles for Mack will present further entrepreneurial challenges.” In 1997, Mack overcame those challenges by assuming the role of CEO with Pinnacle Financial. Events Highlighted - 1996Family businesses were highlighted by 1996 speakers such as Mary Johnson of Image Now Signs and Designs and Dik and Charles Bolger of Bolger Publications/Creative Printing. A paradigm shift away from outdated business theories was the subject of such speakers as Glenda Holladay Eoyang in her presentation, “Into the Unknown: Complex, Adaptive Futures” and Earl Joseph in “Entrepreneuring Futures.” In order to better accommodate networking, the meeting site was moved across the street from the St. Thomas University main campus to the Dunwoody Building. The former meeting site was not conducive to networking because of the lecture-style seating in the auditorium. Dues were raised to $50.00. Speakers Highlighted - 1997MEC ENTREPRENEUR OF THE YEAR: GERALD RAUENHORST was presented the award in absentia. 1997 began with a hot speaker - Dave Anderson of Famous Dave’s BBQ Shacks who had carved a niche in the highly competitive restaurant market. Anderson’s chain of restaurants had recently garnered $15 million in a public offering. Since then, Famous Dave’s restaurants dot the country, and he has branched out to create Famous Dave’s BBQ Sauce for sale in grocery stores. Lucy Johnson of LJ Home Health Service, Inc. told her story, “Dreams and Visions Can Become a Reality.” Johnson’s inspiration came trying to provide at-home health care for her quadriplegic husband. Her initial investment of $2,500. grew into a thriving community-based enterprise. Events Highlighted - 1997The diversity of speakers represented a growing diversity among business owners. Dave Anderson and Marjorie A. Anderson, Chief Executive of the Mille Lacs Band of Ojibwe reflected business development among native American people. Lucy Johnson of LJ Home Health Service operated a successful home health services as an African American community-based venture. Board member, Debra Windsor, brought a new partnership between MEC and SCORE with a series of seminars. Making Your Dream A Reality seminars were also sponsored by Norwest Bank Minnesota NA and the US Small Business Administration. On a trial basis, MEC members received a subscription to Minnesota Business & Opportunities Magazine. The MEC returned to the main campus of St. Thomas University for meetings. A room behind the cafeteria was selected as the site in order to accommodate networking. An earlier start time for the summer was dropped when attendance also dropped. The traditional start time of 6:59 p.m. has for many years been a unique feature for MEC, and when meetings resumed at the original time, attendance again rose. Speakers Highlighted - 1998Dave Pomije updated the MEC with FuncoLand’s breakneck $10 million rise to success. Amy Rolando served up a double success story with Table For Two (a dating service for professionals) and Weather Watch (a private weather forecasting business.) Matt Boettner, a boy wonder, wowed the MEC audience with his story of Kovex Corporation. Merely 23-years-old, Boettner’s rise to success began when he sold his 3-D laser microscope idea to handful of investors. Events Highlighted - 1998The MEC board approved a two-tiered dues structure in which members could pay $50.00 or $79.00. The higher amount would preclude paying a meeting fee at the door. The $79.00 fee proved to be popular with many members. Construction around St. Thomas University created problems with parking, resulting in lower attendance to some meetings. Youthful success stories began the year for MEC, reflecting yet another entrepreneurial trend. Minnesota Entrepreneurs’ Club becomes In 1998, the Minnesota Entrepreneurs’ Club acted on a board decision to seek nonprofit status. Doing so would allow the organization to enlarge its focus and provide a larger tier of services to members. In many ways, the transformation from MEC to ME, Inc. was the direct inspiration of Carl Pohlad. After speaking to the club in 1996, Pohlad offered funding that, according to the rules of his foundation, was only available to a nonprofit organization. The MEC was officially granted nonprofit status in May, 1998. The 18-year-old MEC brings a rich history to the new and transformed ME, Inc. The outdated “club” label has been dropped from the name and other changes will be announced in the months to come. |
|
|
|
|