The Indiana Business Growth Network IEDA Spring Conference, Indianapolis March 1, 2011 Scott Hutcheson, Assistant Director...
Some of Purdue’s Business Growth-Related Efforts <ul><li>SBDC in North Central and Southeast Indiana </li></ul><ul><li>Spo...
Certified Economic Gardening Team <ul><li>Purdue & SBDC professionals certified by the National Center for Economic Garden...
Understanding Business Growth Stage 4  (500+ Employees) Stage 3  (100-499 Employees) Stage 2  (10-99 Employees) Stage 1  (...
Second-Stage Businesses <ul><li>Privately-held businesses </li></ul><ul><li>10-99 employees  </li></ul><ul><li>Revenue of ...
Second Stage Firms in Indiana – 2008 www.youreconomy.org
Second Stage Firms in Indiana – 2008 www.youreconomy.org
Focusing on  Business Growth  is Something New <ul><li>Business Attraction  </li></ul><ul><li>Cheap land </li></ul><ul><li...
What “Information” Do Second Stage Firms Need? <ul><li>Help in articulating and realigning with their  Core Business Strat...
Example IBGN Projects <ul><li>Analytical Test Laboratory needed information about global competitors and ideas to attract ...
Economic Gardening Strategy <ul><li>Best implemented regionally </li></ul><ul><li>Best when led by LEDOs </li></ul><ul><li...
Getting Started <ul><li>Convene LEDOs in the region to meet with member of the EG Team </li></ul><ul><li>Set goals (1 comp...
How the EG Team Can Help <ul><li>As you gain support: Come talk with your LEDO group, your industry groups, etc. </li></ul...
For More Information <ul><li>Scott Hutcheson </li></ul><ul><li>Purdue Center for Regional Development </li></ul><ul><li>Pu...
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IEDA Indiana Business Growth Network - March 2012

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  • 5154965 Civic Engagement Staff Development, February 27-28, 2007
  • IEDA Indiana Business Growth Network - March 2012

    1. 1. The Indiana Business Growth Network IEDA Spring Conference, Indianapolis March 1, 2011 Scott Hutcheson, Assistant Director Purdue Center for Regional Development Purdue Extension
    2. 2. Some of Purdue’s Business Growth-Related Efforts <ul><li>SBDC in North Central and Southeast Indiana </li></ul><ul><li>Sponsored Research </li></ul><ul><li>Prototype Network </li></ul><ul><li>Innovation & Product Development </li></ul><ul><li>Purdue TAP </li></ul><ul><li>New Ventures Team </li></ul><ul><li>Global Business Engagement </li></ul><ul><li>Certified Economic Gardening Team </li></ul>
    3. 3. Certified Economic Gardening Team <ul><li>Purdue & SBDC professionals certified by the National Center for Economic Gardening </li></ul><ul><li>Work with LEDOs to provide EG services to local “Second-Stage Companies </li></ul>
    4. 4. Understanding Business Growth Stage 4 (500+ Employees) Stage 3 (100-499 Employees) Stage 2 (10-99 Employees) Stage 1 (1-9 Employees)
    5. 5. Second-Stage Businesses <ul><li>Privately-held businesses </li></ul><ul><li>10-99 employees </li></ul><ul><li>Revenue of $750,000 to $10 million </li></ul><ul><li>Dealing with growth issues instead of survival issues </li></ul><ul><li>Intent and capacity to keep growing </li></ul>
    6. 6. Second Stage Firms in Indiana – 2008 www.youreconomy.org
    7. 7. Second Stage Firms in Indiana – 2008 www.youreconomy.org
    8. 8. Focusing on Business Growth is Something New <ul><li>Business Attraction </li></ul><ul><li>Cheap land </li></ul><ul><li>Cheap labor </li></ul><ul><li>Cheap taxes </li></ul><ul><li>Cheap utilities </li></ul><ul><li>Business Growth </li></ul><ul><li>Information </li></ul><ul><li>Infrastructure </li></ul><ul><li>Networks </li></ul>
    9. 9. What “Information” Do Second Stage Firms Need? <ul><li>Help in articulating and realigning with their Core Business Strategy </li></ul><ul><li>Market Intelligence to answer important questions </li></ul><ul><li>Guidance on search engine optimization and effective use of social media </li></ul><ul><li>Leadership & management team development to make sure people are slotted right </li></ul>
    10. 10. Example IBGN Projects <ul><li>Analytical Test Laboratory needed information about global competitors and ideas to attract more potential customers to their website </li></ul><ul><li>Manufacturer needed list of potential customers that meet certain criteria including a commitment to sustainability </li></ul>
    11. 11. Economic Gardening Strategy <ul><li>Best implemented regionally </li></ul><ul><li>Best when led by LEDOs </li></ul><ul><li>Best when funded by LEDOs – average cost is about $3,500 per company </li></ul>
    12. 12. Getting Started <ul><li>Convene LEDOs in the region to meet with member of the EG Team </li></ul><ul><li>Set goals (1 company, 10 companies?) and get funding commitment </li></ul><ul><li>Market the service </li></ul>
    13. 13. How the EG Team Can Help <ul><li>As you gain support: Come talk with your LEDO group, your industry groups, etc. </li></ul><ul><li>Provide you with a D&B listing of your 2 nd -Stage Companies </li></ul><ul><li>Accompany and coach you as you talk with firms about the program </li></ul>
    14. 14. For More Information <ul><li>Scott Hutcheson </li></ul><ul><li>Purdue Center for Regional Development </li></ul><ul><li>Purdue Extension </li></ul><ul><li>Burton D. Morgan Center for Entrepreneurship </li></ul><ul><li>1207 W. State Street, Room 227 </li></ul><ul><li>765-494-7273 (office) </li></ul><ul><li>765-479-7704 (mobile) </li></ul><ul><li>[email_address] </li></ul>

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