Posts Tagged ‘nick graham’

Gen Y Entrepreneurship: Nick Graham Style

April 7th, 2010

Nick Graham has struck again.  Now, 21 years-old, Nick recently purchased the Nodaway Valley Market in Fontanelle, IA; his third grocery store in small town Iowa.

I wrote briefly about Nick in January 2009, almost three years after he had purchased his first grocery store in Truman, MN at age seventeen.  He went on to buy two additional stores before selling them off because another grocer made him a “good offer.” 

According to Kyle Munson in the Des Moines Register, Nick has jumped back into the grocery business with the purchase of three stores in the Iowa communities of Fontanelle, Pomeroy and Rolfe.  His efforts prompted one of his employees to say:

“Holy cow,” Debbie Frank says Wednesday from behind the cash register. Just hearing Nick’s resume “makes me think I’ve done nothing with my life!” (Source: Kyle Munson, Des Moines Register, “Munson: Iowa grocery tycoon, 21, builds small-town business,” April 2, 2010),

In my original article, I suggest Nick was “just another typical Millennial” because many Gen Yers share his entrepreneurial spirit.  Obviously, Nick’s entrepreneurial spirit is on steroids.  But the point I wanted to make was that rural communities everywhere should be thinking about how they can tap into young people by supporting their entrepreneurial spirit. 

Although I’ve never met Nick, the Des Moines Register article helps me see some additional characteristics that Nick possesses.  I think they are worth lifting up for consideration. 

 

5 characteristics of Nick Graham’s entrepreneurial spirit

1. Live conservatively: A lot of young people spend money freely. Some rush into buying a fancy car, whiles others jump into homeownership; both leading them down a pathway to a lifetime of debt. Nick’s a homeowner himself. But rather than spend $150,000 – $250,000 on a starter home in a larger community, Nick purchased a four-bedroom house in Rolfe for $4,000.

2. Work hard: If you are ambitious, you’re going to end up working long hours to gain the success you want. The difference with Nick is that he’s putting in these hours for himself, rather than a boss or shareholders. In other words, he keeps the fruits of his hard work.

3. Find your muse & get started early: Nick’s first venture into business wasn’t the Truman grocery store. From the Des Moines Register article, we learn that The Adventures of Tom Sawyer inspired Nick to set up a lawn mowing business. My guess is that some of that money came in handy when buying his first grocery store.

4. Skip college: Ok, I don’t actually believe this is a good move for most young people, but it has worked for Nick. I suspect it’s because he’s found ways to teach himself the skills he needs for his business.

5. Don’t give up: Having never met Nick, I’m not sure what disappointments and failures he’s had to overcome, but one quote from the Des Moines Register article suggests he’s not a quitter: “Good things fall apart for better things to fall together.”

I’m inspired by Nick, and I hope you are too.  But more importantly, this is the type of story that I hope inspires young people.

Too often, the only stories young people in rural communities hear are about people who move away to pursue their entrepreneurial dreams.  There’s nothing wrong with celebrating their success.  But it’s a travesty when we ignore those doing it in small, rural communities. 

 

Photo Credit:  Aplysa_06 – Flickr

 

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Posted in Economic Development, Gen Y, Quality of Life, Rural | Comments (0)

Grocery store finds new life

March 13th, 2009

We’ve heard the story time and time again:  Grocery store owner in a rural town reaches retirement age, wants to sell, but struggles to find an interested buyer.  With no buyer in sight, the store closes. Substitute “hardware store” or “grocery store,” and most small towns in the Upper Midwest have experienced this scenario first hand.

Last month, we learned that the community of Clark, SD banded together to reopen their “variety store.”  Today, we report that the community of Menno, SD (pop. 729) stepped up to save their grocery store. 

The Yankton Press and Dakotan provides details for the story. () When it appeared the store’s owners who were ready to retire couldn’t find a buyer, the Menno Area Development Corporation took action by:

The story is uplifting and motivating.  It proves that communities don’t have to accept decline as inevitable.

What’s really exciting about the story
Digging deeper into the story, however, I found other reasons to be excited. 

First, the store’s manager, Amber Taylor was 27 years old when she took over.  She had been living in the Rapid City, proving that not everyone from Gen Y is interested in living in an urban area. 

Second, like the Nick Graham story, the community values the store and is willing to volunteer their time to work at the store.

Third, the community appears to be supporting Taylor with mentors.  A story in the March 4, 2008 edition of the Town and County Weekly News, suggests Taylor is being mentored by the former store owners and another retired former grocer who retired to Menno.  A review of the Menno Area Development Corporation minutes also informs us that the Southeast Enterprise Facilitation Project has played an important advisory role.  

The idea that communities need to provide mentoring support to entrepreneurial endeavors is often neglected.  It may, however, be one of the more important roles around. 

At the end of the day, the Menno community should feel proud of their efforts.   They have provided us with another example of a “Reimagined” future for rural places.

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Posted in Economic Development, Gen Y, In the News, Quality of Life, Rural | Comments (0)