Interested in starting your own entrepreneurial journey but unsure what to expect? Then read up on our interview with Laura Freeman, CEO of Laura's Mercantile, located in Winchester, KY, USA.

What's your business, and who are your customers?

I’ve founded several businesses in my career, from Laura’s Lean Beef to Laura’s Mercantile and Wildcat Willy’s Distillery and Grill. I’ve always run a sustainable, regenerative farm, Mt. Folly.

The common thread of the businesses is that the products are good for people and for the environment…yes, even the whiskey is better! The rye for our whiskey is grown through an American Farmland Trust program designed to build soil health, moonshine is made from grains or fruits we grow right here, and all are crafted locally. The beef at Willy’s grill is pasture-raised on Mt. Folly and processed in Cynthiana. And 100% of the hemp for Laura’s Mercantile products is certified USDA-organic and raised at Mt. Folly.

We need to build a local economy to support local supply chains, and our companies are the way to do it! Indeed, we’ll have a brick-and-mortar Laura’s Mercantile opened on Main Street in Winchester by summer. So, our ventures are good for the community, too.

Tell us about yourself

I came back to the family farm when it was going broke in the early 1980s. It was a family emergency…but I saw an opportunity early on and took it. (The opportunity was revealed when mom and I were “kicked off the bus” at the National Cattleman’s Association meeting in 1983. Read about it here: https://www.laurasmercantile.com/lauras-story/

Years later, what gets me going is a powerful internal drive to do what I can to solve complex problems. I go to bed thinking about them and wake up the same…

What's your biggest accomplishment as a business owner?

As an entrepreneur, you’ve got to stay healthy, in top form, or you can’t lead, coach, or communicate. I had to sell Laura’s after a devastating horseback riding accident from which I was given little chance of complete recovery. But recover I did, in part because of hemp CBD, so I found a young partner and started Homestead Alternatives. The recovery is my biggest accomplishment. It showed me the value of nature and also showed me what it felt like to have no power or voice. This has informed the structure of the current set of companies.

What's one of the hardest things that come with being a business owner?

Getting a team to work together for a common goal.

What are the top tips you'd give to anyone looking to start, run and grow a business today?

Make sure that you have a passion for the business you choose. The passion will get you over the rough spots. For example, my daughter now is running Willy’s restaurant, lecture series, and music program.
Our mission is to discover young talent, preferably from counties east and south. Last Friday, the show was just right, and we all had a great time, knew we’d “got it.” Come Monday, though; it was time to empty the fryers, schedule the servers and cooks, plan the menu. This was rough…but the two together made it work.

The second and third tips I’d give are these: plan, execute, assess results, replan. Build your plan on three legs: a financial plan, a sales, and marketing plan, and an operations plan.

Is there anything else you'd like to share?

If you are starting a business, make sure you have the drive to do so. It isn’t easy.

Where can people find you and your business?

Website: https://laurasmercantile.com/
Facebook: https://www.facebook.com/LaurasHempChocolate
Instagram: https://www.instagram.com/laurasmercantile/
LinkedIn: https://www.linkedin.com/in/laura-freeman-mt-folly/

If you like what you've read here and have your own story as a solopreneur that you'd like to share, then email community@subkit.com; we'd love to feature your journey on these pages.

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