Improving Your Lobster Business with Profit Decoder
About the class
About Office Hours
Island Institute, in partnership with Profit Decoder, is excited to offer a customized financial management tool designed specifically for Maine’s lobster industry. This tool helps lobstermen gain greater control over their business finances, make informed decisions, and navigate the challenges of an evolving industry.
In this online training for Maine’s lobstermen and their families, Profit Decoder focuses on changes to improve profitability using the Island Institute version of Profit Decoder. Participants will learn how to use Profit Decoder to boost lobstering profits without the headaches of spreadsheets or financial jargon.
Answer fundamental questions like:
- How much do I need to catch a day to breakeven?
- How can I easily see how changes in bait and fuel, lobster prices can impact profitability?
Sponsors & Partners
What you’ll learn
- How to set up and use Profit Decoder for your lobstering business
- Tracking income and expenses to maximize profitability
- Understanding key financial reports and insights
- Strategies to strengthen your business’s long-term financial health
What's included
Your presenters
Your experts
In his role as Senior Community Development Officer at Island Institute, Jeff is part of the Center for Marine Economy, and provides leadership for our work in creating a more resilient coastal economy.
Jeff joined Island Institute after working as CEO at an innovative medical device company, advising investment strategy in renewable energy companies at Elemental Excelerator, serving as press secretary and foreign policy advisor to U.S. Senator Bernie Sanders, and co-founding, building, and selling his first startup, hearforward.com. Jeff spent two years in the U.S. Peace Corps helping Maya villagers in Belize start businesses, and he brings his passion for community development to our team.
Jeff is a third-generation Mainer with a family history embedded in Maine’s coastal communities. His grandfather was a lighthouse keeper on Wood Island, Owls Head, and Portland Head Light, and he grew up exploring tide pools along the coast. Jeff holds a M.S. in Community Development and Applied Economics from the University of Vermont and undergraduate degrees in both economics and political science from the University of Maine. He lives in Hallowell, where he spends his winters alpine and cross-country skiing and summers mountain biking and competing in ultra-marathon trail running races.
Babson Fellow, Professor, and NYT-Featured Entrepreneur
Meet Jay, a co-founder of Profit Decoder who enjoys helping businesses like yours get a grip on their financials. Jay has worked with hundreds of start-ups and small businesses and has a talent for demystifying the numbers so you can easily make informed decisions to grow your businesses.
Entrepreneur, Former Professor, CNN & Fox featured
Meet Jordan, Co-Founder of Profit Decoder, a pragmatic guide tailored for small businesses like yours. With a knack for unraveling complexities and a proven record of propelling businesses from ground zero to million-dollar sales, Jordan's focus is on making business concepts accessible.
Class Details
Promotion | |
Cost | Free |
Date | April 4, 2025 |
Time | |
Capacity | |
Food | |
Requirements | BYO computer: desktop, laptop, or tablet |
Accessibility | Real-time auto transcripts for online class |
Location |
FAQs
- Active lobster fishermen looking to improve financial management
- Lobster fishing families seeking better business planning tools
- Anyone in the industry interested in securing financial stability
These trainings are FREE for participants, and no prior financial expertise is required. Whether you’re new to business planning or looking to refine your current approach, this program will provide you with essential tools to make confident financial decisions.
This webinar will be recorded and made available for those who are unable to attend the live presentation.
