Profits through Pricing and People
News
Jessica Flynn and Susan Clapham are colleagues at NorthLawn, a management consulting firm with a dedicated practice supporting startups at every stage of growth. MVF asked the two to share their approach with our audience - for any with whom this piece resonates, please feel free to reach out to them directly to learn more!
Profits through Pricing and People: Everyone Has a Role to Play in Amplifying the Success of Maine’s Startups
By Jessica Flynn & Susan Clapham
Jessica, based in the Toronto area, is a founder and early-stage strategist whose consulting work focuses on unlocking momentum and scaling mission-driven ventures through strategic planning, leadership coaching, and ecosystem design.
Susan, a seasoned consultant and proud Maine local, brings decades of experience advising companies across industries - from manufacturing to ed tech - with deep expertise in operations, leadership development, strategy deployment, and transaction support. A former McKinsey consultant and Lean/Operational Excellence expert, she’s worked with hundreds of businesses and often steps into interim executive roles to lead transformation from the inside out.
Together, Susan and Jessica bring a cross-border, cross-sector lens to the questions facing founders — and the communities that support them.
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Maine’s entrepreneurs are doing the hard work — building, selling, growing. But they can’t do it alone. From neighbors to investors, mentors to manufacturers, we all have a role to play in creating companies that are both profitable and impactful.
For Maine-based startups in the Maine Venture Fund portfolio and beyond, the question is often: How can we strengthen financially while staying true to our values and vision?
Below are three levers we see as both practical and powerful — ones that every founder and ecosystem partner can activate.
1. Pricing Power: A Lever Hiding in Plain Sight
For companies with product-market fit, pricing is one of the most overlooked and undervalued tools for improving profitability.
A 1% increase in price can lead to an average of 11.1% increase in operating profits, according to a landmark study by McKinsey & Company.
Yet many founders — especially those with a social mission — underprice their offerings. Whether out of fear of losing customers or a desire to be “accessible,” prices are often set emotionally, not strategically.
Here’s the truth: Pricing is not just math, it’s messaging. The price you set signals the value of your product or service — and customers often anchor their expectations accordingly. Especially in industries like SaaS, B2B services, consumer goods, and niche manufacturing, pricing optimization can lead to immediate and lasting gains in margin without increasing your workload.
Founders, ask yourselves:
Have you A/B tested pricing in the last 12 months?
Have you explored value-based pricing rather than cost-plus?
Are you anchoring your pricing relative to market alternatives or the unique value you provide?
If you’re creating something high-quality, purpose-driven, or locally rooted — price like it.
Increasing pricing is a lever many founders hesitate to pull — often out of fear or a desire to remain “affordable.” But undervaluing innovation hurts growth.
And here’s where the broader community comes in.
Investors, advisors, customers, and procurement leads can all help by:
Advocating for value-based pricing during advisory calls
Mentoring teams through pricing psychology and strategy
Or mentoring founders on how to confidently position their offering
We don’t just need companies that survive — we need companies that sustain themselves and scale. Pricing power is one lever that can help get them there.
2. The Power of People (Part 1): Word of Mouth is The Original Growth Hack
Before paid ads and social algorithms, there was one proven method of growth: word of mouth. And it’s still the most trusted and effective.
90% of people are more likely to trust a brand recommended by a friend, and 74% say word of mouth is a key influencer in purchasing decisions (Nielsen).
In a region like Maine — where relationships matter, and industries are tightly interwoven — collaboration is currency. Your next customer, investor, or champion might be sitting in the next coworking space, nonprofit meeting, or farmer’s market stall. But tapping into that potential takes intentionality.
This isn’t just a founder’s responsibility — it’s a collective opportunity.
The MVF portfolio — and the extended network of partners, alumni, and allies — can help by:
Referring aligned businesses to clients, vendors, or hiring pipelines
Cross-promoting products or services on social media or at events
Sharing wins and learnings to normalize collaboration over competition
Want to see this collaboration in action?
We’ve highlighted two real-world examples — one from Vinalhaven’s island food and beverage entrepreneurs, and one from a sustainable packaging partnership between Tanbark and Luke’s Lobster. [View the case examples HERE].
Ask yourself:
Who in my network deserves a warm introduction?
Where can I amplify a Maine company I admire?
What kind of cross-sector collaboration could benefit both brands?
It doesn’t take a large marketing budget to grow Maine’s economy — just a culture of connection.
3. The Power of People (Part 2): The Voice of the Customer as a Key to Purposeful Growth
For Maine entrepreneurs dedicated to building impactful businesses, listening to customers is a powerful way to align profits with purpose. The “Voice of the Customer” reflects the needs, preferences, and values of those you serve—from local families and small businesses to large institutional clients.
According to Forrester research, customers are 2.4 times more likely to remain loyal to brands that listen and quickly solve problems, and companies that act on customer feedback experience 41% higher revenue growth
Today’s buyers don’t just want quality products or good service; they want relationships with brands that understand their priorities and reflect their values. Whether you’re in farming, fishing, forestry, healthcare, manufacturing, food & beverages, education, climate/environment, or tourism, creating channels to regularly hear from your customers will help you innovate, stand out, and cultivate lasting loyalty.
Practical ways to bring the Voice of the Customer into your company include:
Capture the customer needs and their “why” through surveys, interviews, and simply observing customers using your product/service.
Translate and prioritize the voice of the customer (“I wish you had weekend hours” said by many, might become a scheduling change)
Embed Feedback into Existing (or New) Products and Services; The Vinalhaven Community Brewery recently started offering wine to customers because many asked for it.
When Maine entrepreneurs consistently incorporate customer feedback, they become more adaptable, discover unmet needs, and co-create solutions with those they serve. This builds trust and ensures that your values remain visible and relevant to the marketplace—making your business both resilient and rewarding.
Embracing and embedding the Voice of the Customer can strengthen your mission. Businesses that listen deeply are better positioned for sustainable growth, deeper loyalty, and the kind of lasting impact that builds the Maine economy we all want. One of Vinalhaven’s eateries offers what the owner realized was needed on the island, instead of focusing on what she wanted to offer.
Final Thought: We All Have Skin in the Game
In addition to the natural resources of our coastlines, crops, and clean air, Maine’s real superpower is the way people here show up for one another.
The 60+ companies in the MVF portfolio may be the ones on the front lines, but they don’t hold the full burden — or the full opportunity — alone.
When we align pricing with real value, amplify one another through word of mouth, and build companies around market needs as defined by the customer, we help startups succeed and Maine thrive.
Let’s make collaboration our growth strategy.
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References
Marn, M. V., & Rosiello, R. L. (1992, September–October). Managing price, gaining profit. Harvard Business Review.
https://hbr.org/1992/09/managing-price-gaining-profit
Nielsen. (2012, April 10). Consumer trust in online, social and mobile advertising grows. Nielsen Global Trust in Advertising Survey.
https://www.nielsen.com/insights/2012/consumer-trust-in-online-social-and-mobile-advertising-grows
IBM Institute for Business Value. (2022, January 13). Retail industry reshapes with hybrid cloud and AI to help meet shifting consumer shopping and sustainability preferences.
https://newsroom.ibm.com/2022-01-13-Retail-Industry-Reshapes-with-Hybrid-Cloud-and-AI-to-Help-Meet-Shifting-Consumer-Shopping-and-Sustainability-Preferences
EY Beacon Institute & Harvard Business Review Analytic Services. (2023). The power of purpose: How purpose-driven businesses are transforming the business landscape.
https://medium.com/@thepurposeproject/the-power-of-purpose-how-purpose-driven-companies-are-transforming-the-business-landscape-pala-f8698194740a
The Meeting Magazines. (2025, February 11). The purpose advantage: The anchor for sustainable brands.
https://www.themeetingmagazines.com/cit/purpose-advantage/
Grard, M. (2023, November 27). Innovation in food packaging boosts Maine’s forest industries. Portland Press Herald.
https://www.pressherald.com/2023/11/27/innovation-in-food-packaging-boosts-maines-forest-industries/
About Maine Venture Fund
Maine Venture Fund invests in Maine businesses that have the highest potential for growth and impact. For more information, visit maineventurefund.com.
Inquiries:
Terri Wark
Maine Venture Fund
(207) 305-0006
terri@maineventurefund.com
