15 Minutes
Doug Pennington, owner of Lakeville, Minnesota-based Goldmine Mobile, had a humbling beginning in the print industry.
He started in the shipping department at OEI Business Forms, based in the Minneapolis area. He drove a forklift for a year until he was promoted to web press operator.
"The dream job at the time," Pennington recalled. "After being promoted to supervisor, I attended night school for business management which helped my career advancement to plant manager and finally to division manager in 1998. My career at OEI lasted nearly 20 years and I am proud to have been part of the Minnesota division that was always ranked a leader in reaching and exceeding the company's financial goals."
Here, Pennington talks a bit about himself and the industry.
Print Professional (PP): Tell us about your background. Where did you grow up, what school did you attend, etc.?
Doug Pennington (DP): I grew up near International Falls, Minn., which is just south of the Canadian border. After high school, I attended college in Bemidji, Minn. and completed a two-year degree in automotive repair. Immediately after graduation came a wedding and a move to the Minneapolis area.
PP: What is your greatest business accomplishment and disappointment?
DP: The greatest accomplishment for our company was in 2004 when we introduced a complete direct mail program for our clients. It covered multiple business segments, but over 50 percent of the revenue came from the real estate market. We implemented creative design, printing and targeted mailing into a direct mail program, which resulted in monthly repeat business and helped us to continue to grow our company. The greatest disappointment I have seen came in 2008 [when] many companies started cutting back on printing due to the recession and several of our clients closed their doors.
PP: What do you think is the most exciting, cutting-edge thing your company is doing right now?
DP: A few years ago, we started seeing several new trends in marketing that caught my attention, such as e-mail marketing, social media and mobile marketing. Some of our print customers were already shifting portions of their print budgets to mobile marketing. With my previous background knowledge of barcode technology from my previous employer, I knew there were opportunities waiting to happen with printing and the new marketing trends that could complement each other. This year we launched a new company named Goldmine Mobile Technologies, LLC that develops technology for the mobile platform. Mobile marketing has now reached critical mass and will continue to see rapid growth over the next decade. Businesses will always need printed items and the system we have developed connects their off-line media to on-line media by linking a dynamic QR code that directs to their Web app. We provide the technology so they can create a smartphone app for their product or service and provide the end-user with a mobile-friendly experience that links their off-line printed items to their on-line content that can be changed and updated when necessary.
PP: What is the printing industry's biggest challenge in the next few years?
DP: I think more changes are ahead as the baby boomer generation ages. The younger generation doesn't appreciate a mailbox full of direct mail offers. They want everything available in digital format. Marketing with print to this generation will require careful and creative planning.
PP: What would people be surprised to learn about you—hobbies, special interests, etc.?
DP: My favorite activity is golf. Many people would be surprised to discover that I like to travel, spend time with family and friends and not work 70 hours per week.