Wisconsin Basic Economic Development Course
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- Tabitha Daniels
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1 Economic Managing An Economic Organization EDO Management Foundation to Best Practices SLIDE 2 National Best Practices Economic Scan Oklahoma State Chamber Foundation, Oct 2012 Focus on collaboration & advancing strategic partners Unify Delivery Systems (eliminate silos) Embrace Innovation-Based Economic Engage Private Sector Leadership Employ Asset-Based Strategies - Unique assets & networks Strengthen the Talent Pool 1
2 Community & Business Awareness When should Customers call? SLIDE 3 Launching or developing a new product Expanding a building or seeking a site Buying and financing equipment Seeking seed funding or equity investment Challenges with talent pipeline As a result of these activities - Creating Jobs Most people don t understand what an EDO does! AWARENESS STRATEGY IS CRITICAL Types of Organizations SLIDE 4 Wisconsin Economic Basic Economic Sept Nov 88-11, Public Economic Organization Local Governments Regional Planning Commissions Municipal powers to implement/manage projects Public/Private Partnerships Non Profit EDOs Private Economic Organization Chambers of Commerce Community Corps Community Financial Institutions (NMTC) 2
3 Public Organization Operations SLIDE 5 Wisconsin Economic Basic Economic Sept Nov 88-11, Advantages Financing mechanisms Direct access to funding Municipal powers Access other departments Creation of taxing districts Disadvantages Bound by political area Private sector participation Public disclosure Public/Private Organization Operations SLIDE 6 Advantages Broader expertise Fewer political constraints Access to public resources Flexible Service Area Straw Man Ability to invest in ventures Disadvantages Accountability Transparency Organizational funding emphasis 3
4 Private Organization Operations SLIDE 7 Advantages Disadvantages Wisconsin Economic Basic Economic Sept Nov 88-11, Private sector Fees for service Intermediary Fundraising Quick decisions Can receive some federal funds (SBA) Lacks public powers May lack public sector support Focus on fundraising may shift time away from mission Open Meeting/Records Law & Your EDO Operations SLIDE 8 WISCONSIN vs. BEAVER DAM AREA DEVELOPMENT CORP. Office Location Staffing Funding Clerical/Office Support RLF Program Admin. Clients/Service Area Marketing & Promotion Control Group THE RESULT: determination requires a case-by-case analysis 4
5 Role of Non-Profit Organizations Board of Directors SLIDE 9 Determine & advance mission and objectives Select CEO/Executive, CPA and attorney Assess performance of executive Monitor & enhance programs and services Ensure organizational planning Financial and resource oversight Promote organization s image Recruit & orient new board members Assess board s performance EDO Management Plans SLIDE 10 Major Points of Emphasis Financial Board Management Committee Management Personnel Programmatic Office Management Plan Budget Strategic Plan Work plan Handbook Work plan Office Procedures 5
6 Performance Reviews SLIDE 11 Self Assessment Complete in advance Wisconsin Wisconsin Basic Basic Economic Economic WI Components of Executive (Staff) Review: Current Year Objectives vs. Current Year Results Board (committee) Feedback/Survey Customer/Partner Surveys Expectations: Exceeds, Meets or Improvement Measurements - Next Review Period Economic Staff Core Skills SLIDE 12 Coach & Advisor Strategic Thinker Leadership Problem Solver Resourceful (no money?.where can I find some?) Project Management Experience but willingness to learn about diverse sectors Community Concierge for business customers 6
7 Designing & Monitoring Economic Programs SLIDE 13 Process of Launching Program is Critical Identify potential challenges and barriers to growth Confirm challenges through Voice of Customer Consider need for Community Engagement for success Determine indicators to measure outcomes Get buy-in from key stakeholders/partners Develop guidelines & validate with customers Identify funding model to make program sustainable Document in writing partnerships, roles and expectations Community Engagement As Part of Program SLIDE 14 Clear purpose or goals (geographic scope) Identify key populations and/or audiences Introductory Meetings - listen & align purpose/goals Focus Groups to validate challenges/barriers Formation of Work Group consisting of key audiences Set time frame for meetings and topics Work Group - confirms challenges/barriers Focused action steps within geographic scope 7
8 Measurements SLIDE 15 What is being monitored? Purpose what is the purpose of the measurement Process - identify processes which impact customer experience Outputs or outcomes - increased customer satisfaction What technique will be used to monitor? Are there comparative benchmarks? Who will conduct the monitoring activities? Who will review results? How will the results be used? Economic Work Plans SLIDE 16 Business Expansion Objective: Assist in the creation, enhancement and expansion of local businesses. Measurements: Local business retention calls (annual) ### retention calls Product Idea submissions-- ### Launch 1 product annually Customer Satisfaction Survey Idea submission customers Customer Satisfaction Survey Business Retention program Process: Respond to local business assistance inquiries within ### working days of contact 2014 Plan of Action Time Project Project Tasks Staffing Plan Budget Feb. to Nov. Business Expansion Program Update business list & contacts Recruit volunteers Finalize survey tool & monitoring reports/steps Annual report Identification trends Assistance with funding program applications EDC Staff, City of Staff; Committee Comm. Lead $1000 Luke 8
9 Sample Measurements SLIDE 17 Jobs Private Investment Equity Investment Business Starts Training Investments Leveraged Investment Customers Partnerships formed Customer Satisfaction Retention meetings Leads Generated/Cost Site Visits Tax Base Program Participation MENU of Services Internal Review SLIDE 18 Mandatory programs that can t be cut (politics, outcomes) Wisconsin Wisconsin Basic Basic Economic Economic WI Essential programs provide greatest ROI to organization Nice programs require review build consensus on whether the activity should be converted to M, E or a U Unessential is a program/service/activity that should be discontinued or transferred to different organization due to outcomes or being an outdated strategy 9
10 Economic Partners SLIDE 19 Public/private non-profits Chambers of Commerce Local governments Regional Planning Agencies State governments Port authorities Redevelopment corporations Utilities Certified Corporations Educational Institutions Workforce Agencies Small Business Centers & Incubators Others? Partners Alignment of Services SLIDE 20 Remove silos Focus on the customer! Who is the customer? Existing service delivery model/gap? What deliverables need enhancements? Partners/Agencies with potential role in service? Funding streams tied to service delivery Common Challenges to Alignment: Credit Funding Fear of Change History & Politics Relationships 10
11 Economic Partners Building & Managing Relationships SLIDE 21 Board of Directors - Focused Discussion on Topics Process Chart identify roles of each partner in process Memorandums of Understanding In Writing Measurements Identify ways to garner shared outcomes Win - Win Partnerships When Fundraising Key Goals by Major Funding Sector SLIDE 22 Government Funding Goals: increased tax base, customer satisfaction, customers served, jobs created, services to businesses, business retention, business recruitment, marketing Sponsorships Goals: program purpose, target audience of program, visibility of sponsorship, Private Sector Goals: purpose of work, EDO s track record, peer investment levels, services, networking, visibility, return on investment, Grants Goals: eligible activities, location, matching funds, new initiatives, 11
12 Corporate Communications SLIDE 23 Use multiple channels of communication Physical (print publications) Digital (website, blog, s) Social (Twitter, LinkedIn) EDOs have more opportunities to connect with their audience than ever! Communication Strategy Target Audiences & Topics SLIDE 24 Target Audience Elected Officials Partners Businesses Education Workforce Firms Topics New s Activities Programs Recognition events Featured Business Innovation/start ups Events Seminars 12
13 Technology SLIDE 25 Customer Relationship Management Information & Open Records Impact Web site Your online proposal Online Sites and Buildings LocateinWisconsin Report Builder Organizational Management Foundation to Best Practices SLIDE 26 National Best Practices Economic Scan Research conducted by Oklahoma State Chamber Foundation, Oct 2012 Focus on collaboration & advancing strategic partners Unify Delivery Systems (eliminate silos) Embrace Innovation-Based Economic Engage Private Sector Leadership Employ Asset-Based Strategies Unique assets & networks Strengthen the Talent Pool 13
14 Contact Info SLIDE 27 Name: Brian Doudna Address: 101 N. Farwell St., PO Box 1108, Eau Claire, Wi Phone: Web URL: 14
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