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  • 1. Implementing Economic Gardening – The Information Component Christine Hamilton-Pennell April 2007
  • 2. EG Implementation Steps
    • Identify skill sets needed
    • Identify community assets and partners
    • Create EG business plan
    • Develop business assistance process
    • Develop a marketing plan
    • Create tracking and evaluation systems
    • Provide staff training
    • Develop other services
  • 3. Skill Sets Needed
    • Initial consulting
    • Research and technical skills
    • Analysis and reports
  • 4. Initial Consulting
    • Start-ups
    • Established businesses
    • Growth businesses
  • 5. Initial Consulting – Start-ups
    • Business feasibility
    • Core strategy
    • Financial strategy
    • Business plan
    • Marketing plan
    • Recommendations/next steps
  • 6. Initial Consulting – Established Businesses
    • Core strategy
    • Marketing strategy
    • Customer management
    • Building a team
    • Hiring employees
    • Business processes and systems
    • Growth strategies
    • Business succession planning
    • E-commerce/Web marketing
    • Recommendations/next steps
  • 7. Initial Consulting – Growth Companies
    • Managing business processes and systems
    • Managing financial growth
    • Managing intellectual property
    • Locating industry-specific technical assistance
    • Building a management team
    • Hiring qualified employees/outsourcing
    • Peer mentoring/networking
    • Internet strategies
    • Exit strategy
    • Recommendations/next steps
  • 8. Research and Technical Skills
    • Low-level research skills
    • In-depth research skills
    • Other expertise
  • 9. Research and Technical Skills – Low-Level Research Skills
    • Marketing lists (b2b and b2c)
    • Competitor lists
    • Basic company or industry information
  • 10. Research and Technical Skills – In-Depth Research Skills
    • Market analysis
    • Industry trends/forecasts
    • Competitor intelligence
    • In-depth company, industry, or financial analysis
    • GIS reports
    • Best practices/industry standards
    • Web marketing
  • 11. Research and Technical Skills – Other Expertise
    • Intellectual property due diligence (patent, trademark, copyright)
    • Contract development
    • Insurance and benefits
    • Financial systems
    • Equity financing
    • Succession planning
    • Business valuation
    • Government procurement
    • Offshoring/import/export strategies
    • Liability/legal issues
  • 12. Analysis and Report Generation
    • Synthesize compiled data and information
    • Analyze data/information for patterns
    • Identify key points
    • Identify challenges and opportunities
    • Make recommendations
    • Identify additional resources
    • Create usable summary or “power page”
  • 13. Identify Community Assets and Partners
    • SBDCs, SBA, SCORE
      • Start-up consulting
      • Classes
    • Chambers of commerce
      • Start-up consulting
      • Classes
      • Leads groups
      • Peer networks
  • 14. Identify Community Assets and Partners
    • Economic development organizations
      • Demographics
      • Finance resources
      • Incubators
      • Consulting/technical assistance
    • Local/county governments
      • GIS services
      • Demographics/community data
      • Business assistance programs
  • 15. Identify Community Assets and Partners
    • State government
      • Employment and workforce data
      • Tax and revenue information
      • Business financial assistance
      • Import/export and trade assistance
      • Registered businesses and non-profits
      • Tourism
      • Technology/technical assistance
      • Database of licensed professionals
  • 16. Identify Community Assets and Partners
    • Public and university libraries
      • Business resources
      • Online databases
      • Business reference services
      • Meeting space
      • Fee-based research services
  • 17. Identify Community Assets and Partners
    • Universities and colleges
      • Business/entrepreneurship students
      • Business professors
      • GIS services
      • Web and graphic design students
      • Distance learning capabilities
      • Classes for small business owners
      • Research and analysis skills
  • 18. Identify Community Assets and Partners
    • Workforce development centers
      • Employment data banks
      • Training programs
      • Consulting on employment and workforce issues
    • Business and professional associations
      • Training and professional development
      • Networking opportunities
      • Technical assistance
      • Industry resources and data
  • 19. Identify Community Assets and Partners
    • Community banks and financial institutions
      • SBA and conventional loans
      • Business start-up training
      • Technical assistance
      • Meeting space
    • Microfinance organizations
      • Small loans
      • Business start-up training
      • Technical assistance
  • 20. Identify Community Assets and Partners
    • Community foundations and non-profit organizations
      • Business support groups
      • Financial resources
      • Networking
      • Volunteers
    • Public utility companies
      • Local demographics and economic data
      • Training
      • Financial support
  • 21. Create Economic Gardening Business Plan
    • Identify partners and resources available
    • Explore possible EG models
    • Determine target clientele
    • Formulate budget
    • Design pilot project
  • 22. Create Economic Gardening Business Plan
    • Identify partners and resources
    • Funding
    • Staff/expertise
    • Space
    • Tools
    • Other resources
  • 23. Create Economic Gardening Business Plan
    • Determine target clientele
    • Growth/potential growth businesses
    • Small and growing businesses
    • Start-ups
    • Retail businesses
    • Service businesses
  • 24. Create Economic Gardening Business Plan
    • Explore possible EG models
    • One-stop shop
    • Referral network
      • Distributed services
      • Centralized coordination
    • Pilot project
  • 25. Create Economic Gardening Business Plan
    • Formulate budget
    • Staff
    • Tools/resources
    • Overhead
    • Other expenses
  • 26. Develop Business Assistance Process
    • Offer initial consultation
    • Identify research/technical assistance needed
    • Identify tools and sources needed
    • Gather research information
    • Analyze and summarize information
    • Package information and deliver to client
    • Provide referrals to other resources/technical assistance
    • Follow-up
  • 27. Business Assistance Process: Initial Consultation
    • Provide outside assistance for start-ups (SBDC, SCORE, microfinance center)
    • Hold consulting session with existing businesses
      • Use team if possible
      • Identify type of business
      • Identify core strategy
      • Identify assistance needed
      • Provide templates, tools, business aids
      • Create summary of meeting/next steps
      • Sign service agreement/confidentiality statement
  • 28. Business Assistance Process: Identify Research Needed
    • Small businesses
      • Marketing lists
      • GIS data - demographics and psychographics
      • Company information
  • 29. Business Assistance Process: Identify Research Needed
    • Growing businesses
      • Business news sources
      • Financial reports
      • Market research
      • Company reports
      • Industry reports
  • 30. Business Assistance Process: Identify Tools and Sources Needed
    • Low-cost or transactional research tools
    • J. J. Hill Library – business information
    • High Beam – business news and trends
    • Zapadata, Acculeads, InfoUSA – Web-based marketing databases
    • SRDS Direct Marketing List Source – directory of direct mail lists
    • Factiva.com – business and industry news
  • 31. Business Assistance Process: Identify Tools and Sources Needed
    • Low-cost or transactional research tools
    • StatUSA – global trade and industry information
    • GuideStar – non-profit information
    • SkyMinder – business financial and credit information
    • 10KWizard – financial reports and company information
    • See also “Free and Low-Cost Resources for Economic Gardening,” www.littletongov.org/bia
  • 32. Business Assistance Process: Identify Tools and Sources Needed
    • Higher-cost research tools
    • Lexis/Nexis – company and industry information, news, business directories, public information
    • Lexis/Nexis Company Dossier – company information
    • DialogPRO CI – business news and articles, company information, financial analyst reports, market research, patent and trademark information, market forecasts
  • 33. Business Assistance Process: Identify Tools and Sources Needed
    • Higher-cost research tools
    • ESRI Business Analyst – GIS program, business and consumer lists
    • Hoovers – company and industry information
    • Dodge Construction Reports – commercial construction and planning information
    • Reed Construction Reports - commercial construction and planning information
    • I BISWorld – industry research reports
  • 34. Business Assistance Process: Identify Tools and Sources Needed
    • Higher-cost research tools
    • Dun & Bradstreet Marketplace Gold – company information and marketing lists, competitor information
    • Dun & Bradstreet company reports – basic to comprehensive financial and credit reports
    • ReferenceUSA – company information and marketing lists, competitor information
  • 35. Business Assistance Process: Identify Tools and Sources Needed
    • Purchased data
    • Lifestyle data/psychographics, (MOSAIC, ESRI Tapestry)
    • Expenditure and demographic data (Claritas GIS data)
    • New business lists
    • New homeowner lists
  • 36. Business Assistance Process: Identify Tools and Sources Needed
    • Purchased data
    • Wealthy households
    • Home-based businesses
    • State business lists (Secretary of State)
    • State wage and employment data (QCEW)
  • 37. Business Assistance Process: Referrals
    • Develop database of expertise in community/region
    • Create partnerships with complementary agencies
    • Provide referral lists to clients
  • 38. Business Assistance Process: Package Information for Client
    • Collect research data, articles, and information
    • Analyze and synthesize key finding
    • Create “power page”
      • Answer business question
      • Summarize data and research results
      • Identify strategic opportunities
      • Identify challenges and cautions
      • Provide recommendations and next steps
  • 39. Develop a Marketing Plan
    • Identify target clients – who will access your services?
    • Identify your offering – what will you provide?
    • Identify locations – where will they access your services? “no wrong door”
    • Identify advertising channels – how will they find out about you?
  • 40. Develop a Marketing Plan: Advertising Channels
    • Local media (newspaper, local cable channel, city or county media)
    • Chambers and business groups
    • Merchants associations
    • Civic groups
    • Non-profit associations
    • Direct mail
    • Print or e-mail newsletter
    • Homeowners associations
  • 41. Develop a Marketing Plan: Regulating the Flow
    • Regular demonstrations of services
    • Scheduled appointments
    • Referrals to other agencies
    • Site visits
  • 42. Create Tracking and Evaluation Systems
    • Determine type of feedback needed for your funders and community groups
    • Use customer tracking software
    • Develop e-mail evaluation survey
    • Conduct focus groups with target clients
  • 43. Create Tracking and Evaluation Systems: Data Required by Funders
    • Collect statistics and anecdotes – “stats and stories”
    • Develop communication loops with clients and funders
  • 44. Create Tracking and Evaluation Systems: Customer Tracking Software
    • Software options
      • Excel spreadsheet
      • ACT
      • SalesForce
      • Goldmine
    • Record client information
      • Demographics/characteristics
      • Work completed
      • Follow-up activities
      • Results
  • 45. Create Tracking and Evaluation Systems: E-mail Survey
    • Identify data needed
      • Sales tax revenues
      • Jobs created
      • Capital expenditures
    • Use online survey tool, e.g. Survey Monkey
    • Send e-mail message with link to survey
  • 46. Create Tracking and Evaluation Systems: E-mail Survey
    • Send survey three to six months after service date
    • Gather testimonials and permissions
    • Summarize and analyze data periodically
    • Create report for decision makers
    • Use feedback to improve internal processes
  • 47. Provide staff training
    • Train business advisors
      • Elements of core strategy discussions
      • Importance of research
      • Research tools available
  • 48. Provide staff training
    • Train research providers (librarians, business researchers, GIS analysts)
      • Elements of core strategy discussions
      • Basic business needs
      • Sources of business data and information
  • 49. Provide staff training
    • Train interns and college students
      • How to create marketing lists
      • How to create competitor lists
      • How to create find company information
      • When to refer client to next level of research assistance
  • 50. Develop Other Services
    • Web marketing services
      • Analysis of market opportunity
      • Search engine optimization
      • Pay-per-click advertising
      • Affiliate marketing
      • E-Bay options
  • 51. Develop Other Services
    • Cross-marketing groups
      • Small business services
      • Luxury services
      • Services for seniors/disabled
  • 52. Develop Other Services
    • Industry-specific networks
      • Environmental services
      • Engineering
      • Healthcare
  • 53. Develop Other Services
    • Focus groups
    • Survey development
    • Peer networks (second-stage/growth companies)
    • Training in marketing, business strategy, temperament
    • Links to financial assistance and capital
    • Business or technology incubator
  • 54. Contact Information
    • Christine Hamilton-Pennell
    • Economic Intelligence Specialist
    • Business/Industry Affairs
    • City of Littleton
    • 2255 W. Berry Ave.
    • Littleton, CO 80165
    • 303-795-3758
    • [email_address]
    • www.littletongov.org/bia