Creative Business Funding and Guidance for Growth: Deerwood Technologies

Creative Business Funding and Guidance for Growth: Deerwood Technologies

Posted on January 25, 2018 at 11:06 AM. Written by Entrepreneur Fund

Twenty years ago, not many would have predicted that Minnesota’s Cuyuna Range would become competitive in the technology services industry. As significant investments were made to technology infrastructure in the region, Jim Mayne, U.S. Navy Veteran and President at Deerwood Technologies, recognized an opportunity to become the premier IT solutions provider in central Minnesota.

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Mayne opened Deerwood Technologies in 2005 to provide proactive, preventative security to businesses across Minnesota. Mayne and his team often work with small to midsize businesses in manufacturing, transportation, public safety and retail. Deerwood Technologies offers network, security and hosted applications as well as cyber security.

With a focus on infrastructure as opposed to application development or website design, Deerwood Technologies manages their clients’ IT environments and data. Oftentimes, the team at Deerwood Technologies serves as a “virtual CIO,” providing remote IT support and guidance and ensuring that IT investments support overarching business goals.

Keeping pace with recent business IT trends, Deerwood Technologies also helps their clients transition to cloud-based environments. “It’s an inevitability,” said Mayne. “It’s not ‘if’ a business moves to the cloud, it’s ‘when.’ Our job is to help our clients decide what, when and how they move various business systems to the cloud – and we prioritize security every step of the way.”

Help Along the Way

Many years ago, Mayne purchased the Deerwood Technologies office space on a contract for deed. When the contract was up, he researched a number of financing alternatives. When he discovered the Entrepreneur Fund, it was an instant fit.

Mayne worked with the Entrepreneur Fund lending team to secure the business funding he needed to satisfy the contract for deed and secure the Deerwood Technologies office building.

In addition, Mayne built a relationship with his Entrepreneur Fund business advisor to create a strategic plan targeted at growing the business. Working with an Entrepreneur Fund business advisor helped Mayne ask a different, more strategic set of questions and review his business with a different set of eyes. The first step? Investing in expanding talent on the Deerwood Technologies team.

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With financial stability and an office space with room for growth, Deerwood Technologies was able to take a step back and see the big picture for their business. “They helped us look at our business with a different set of eyes,” explained Mayne. “Working with an Entrepreneur Fund business advisor helped us plan for strategic growth.”

What's On the Horizon for Deerwood Technologies?

Central Minnesota is growing, and Deerwood Technologies will continue to provide exceptional IT services to the businesses that open, relocate or grow along the Cuyuna Range. Mayne has noticed an increase in service-related industries moving into the area.

“In the past, rural areas have been handcuffed. Without strong networks, fiber or internet infrastructure, maintaining a business in rural Minnesota came with many challenges,” continued Mayne. “We’re seeing a shift. With such significant investments in infrastructure, businesses are growing. That’s why we love it here. We enjoy a lower cost of living and a higher quality of life.”

Mayne is keeping his eye on some great growth opportunities in cyber security. Cyber Security as a Service (CSaaS) is constantly evolving and improving. It’ll continue to change over time, and that’s where Mayne and the Deerwood Technologies plan to focus their efforts for the foreseeable future. 

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