A blog series that focuses on challenges and opportunities faces by aspiring entrepreneurs and small business owners.
What started as a dream to create a line of jewelry with a special meaning has now blossomed into a successful small business for Kristen Meeter. She and her husband, Eric, are the owners of Pressed, a hand-stamped and hammered metal jewelry business in Spencer, Iowa. Today, the business carries a line of jewelry to help others through their hard times and celebratory seasons, a line of women’s and children’s apparel and letterpress greeting cards.
In this Q&A session, we caught up with Kristen and Eric Meeter about their journey since starting Pressed and how they’ve turned their dreams into a brand that resonates with their customers who seek unique and meaningful items.
Q: How has your business grown since we last spoke?
Kristen: It’s been a whirlwind from 2018 to 2024. We lived through COVID where we had to really pivot. We closed our shop but maintained our staff, letting them stay at home with their families while we came to the store every day. We used this time to remodel our building and moved many of our products online. It helped us keep our customer relationships when we did reopen post-pandemic.
Then, in the last few years, we saw a need for women’s and children’s apparel and decided to expand our screen-printed design offering. We had dreams for another product, so we launched a collection of letterpress greeting cards with meaningful sayings. Both products have been great additions to our store.
In June 2024, we were in the middle of remodeling our main level when the flood hit our community. We were lucky and had only about $15,000 worth of damage. Unfortunately, others in our community lost a lot more than that. We wanted to help those in need, so we produced flood relief shirts. It was a huge fundraiser for the local schools, but it also helped us keep operating in the slow time.
Two weeks after the flood we found out we received a $100,000 Catalyst Grant from a program that individuals can apply to for project funding. We bought a building in downtown Spencer with the goal to renovate it into five furnished apartments. On the first floor, we're going to open up a small event venue. We’re very excited about this project and appreciative of being awarded this grant.
Q: What is the most rewarding part of business ownership?
Kristen: The joy on our customers' faces is one of the most rewarding aspects of being a small business owner. There are days where it can be hard, but the next day when a customer visits us and thanks us for being in business, it makes it all worth it.
Q: Why did you decide to partner with Northwest Bank?
Eric: As our company continued to grow, we were running out of space and needed a storefront. Each night Kristen and I would walk around downtown Spencer and look for available buildings. After talking with Spencer’s Main Street coordinator and local representatives, we created a video explaining our desire for a space downtown. We sent our video to local bankers, and Paul Daniels at Northwest Bank responded immediately. Once there was a building available, he helped us get two SBA loans: one to buy the building and make improvements and the other for initial equipment and inventory.
Q. How have financial resources, like treasury management services from Northwest Bank, helped your business?
Eric: We regularly use the mobile app and Northwest Bank’s Business Online. This feature helps us quickly make ACH and wire transfers right from the homepage. We can also view recent transactions and statements on our desktop.
Q: How do you assess and manage risk in your business operations?
Eric: Very carefully. I’m typically riskier and Kristen is more conservative. But, we’ve found a good groove working together. The more that we are familiar with the business, the less risky things feel because we’re confident in our projections. For instance, it was a big risk for us to close down for three weeks in a bad retail economy for renovations. And after the flood, it was a risk to spend money to work on improvements to our building. But, when we weighed the risk with the reward it was worth it.
Q: Who are the mentors that have encouraged you along the way?
Kristen: Paul Daniels at Northwest Bank has been a pivotal influence in our journey. Paul has really turned into a financial coach over the years. He’s our first call whenever we have any financial questions or need any support. My brother has also played a big part. He taught me that you must be your own advocate and be thirsty for knowledge. We read books, listen to podcasts and constantly seek out information to keep learning and growing.
Q: How do you achieve work-life balance?
Eric: We’re very passionate about the work that we do, so it never feels like our work is finished for the day. But since we are parents now, we make a concentrated effort to separate our business moments from family time. Plus, we have full-time and part-time store managers who help us to achieve a bit of balance by taking on some of the daily responsibilities.
Q. What advice do you have for aspiring entrepreneurs looking to start their own business?
Kristen: Owning a business isn’t a sprint — it’s a marathon. You can’t look at it like you’re going to make a ton of money in the first two or three years. Working and creating a mature business takes time to figure out what systems you should put in place and what people you need to add. And, it’s going to be hard and expensive. But it won’t always be that way. If you’re willing to put in the work, then you can be successful.
Reach Out to Northwest Bank Today
Whether you’re looking to build your business from the ground up or take over an established business, reach out to a commercial banker from Northwest Bank. Working with a community bank is about more than just managing finances — it’s about forming a partnership. Our bankers understand your needs, support your goals and share in your success as a small business owner.