Main Street Corridor Development Corporation and MainCor Community Improvement District SWOT Analysis

Transcription

1 Main Street Corridor Development Corporation and MainCor Community Improvement District SWOT Analysis Conducted by Mary Anne Murray Simons Consulting July 10, 2013

2 A joint meeting of members of the MainCor and MainCor CID boards was held on July 10, 2013 to discuss and prioritize the Strengths, Weaknesses, Opportunities and Threats (SWOT analysis) facing the two organizations. The purpose of the SWOT analysis discussion was to: build on the organization s strengths minimize the organization s weaknesses seize opportunities counteract threats The meeting was attended by the following: Fred Wells, Dan Musser, Mark Zimmerman, Peter Cassel, Nathan Guffey, Susan Scott, Randy Williams, Veronica Sellers, Pam Hoelzel, Ted Wiedeman, Jim Edson, Jeffery Kieffer, Marco Gonzalez, Scott Conklin, Wes Crawford, Dennis Smith, Jon McGraw, Joyce Thompson, Stephanie Porter, Kellie Johnston Dorsey Staff: Stan Henry, Leandra Burnett, Andrew Pollock, Diane Burnette

3 SWOT analysis 1. The group discussed the organization s Strengths, Weaknesses, Opportunities and Threats and prioritized the most important areas for further development, which include: Funding i. How can the organizations develop additional sources of revenue? ii. Should MainCor leverage its knowledge to generate revenue? 1. Should/can MainCor sell management services to others (Broadway, Westport, etc.) Communicate with various constituencies to drive business attraction and retention i. Develop a business to business mentoring program as a means of business development Member involvement and support i. Financial ii. Organizational 1. The entire board, not just Executive Committee should be engaged and involved Branding, marketing i. To businesses 1. Define the value proposition a. Develop tools/metrics to demonstrate value of MainCor and the CID. 2. Sell the program to businesses and gain their support The group agreed to review the notes from the discussion and provide additional input that will create baseline data for use in the strategic planning discussion that will occur before the end of The following is the overview of the discussion from the SWOT analysis meeting which was held at the Nelson Atkins Museum of Art on July 10, A list of items that need further discussion (referred to as the Parking Lot) follow the SWOT analysis. The report is categorized into sections that highlight each of major discussion topics. After the initial discussion, the group prioritized the top items that they see as issues that are the major issues/priorities for future discussion and/or action.

4 In each topic area, the board members shared their thoughts on MainCor s Strengths, Weaknesses, Opportunities and Threats. The priority items are placed in bold lettering at the top of each section s bulleted items. STENGTHS People MainCor brand Staff Diane and Stan Positive relationships with Greater KC community Respect of city government History of success Knowledge of system (political, community) Good group of core businesses that support MainCor Central location Safety, security and maintenance Location Action-oriented; driven to succeed Forward thinking Streetscape New business attraction and existing business retention Affordable for businesses Ability to facilitate development and redevelopment Diversity of businesses and residential offerings Visibility Clean and safe

5 WEAKNESSES Revenue o Need to leverage the organization s knowledge to generate additional revenue Small number of businesses that consistently support MainCor o Need more businesses involved and committed to organization Uncertain constituency; uncertain value proposition o What is MainCor s focus? o Who is its audience? Business Residents Others Some have a renters attitude; not invested in the area o Free ride mentality Misconceptions about MainCor s goals and the area o Let constituencies know what is in it for them if they get involved o Tell success stories to attract businesses o Promote the mission and vision of MainCor Condition/vacancy of some buildings Impact of the streetcar; good and bad Challenges of some blocks impact the entire district Crime (but MainCor reports it and deals with it) Not as intense as in other areas Need to focus on what makes MainCor great and beneficial to businesses Disconnect between property owner and businesses, many of which are renters The board doesn t drive the organization; staff leads o The board needs to be more strategic o The entire board, not just the Exec. Committee, needs to be engaged and involved Need to talk to businesses and residents on Main to see what they need o Define the value proposition of MainCor to communicate to businesses Align organizational priorities with their needs Align needs of large and small businesses

6 OPPORTUNITIES Create solid east/west connections in the area The impact of the streetcar on the MainCor District Communicating with various constituencies to drive attraction and retention; develop tools and metrics to demonstrate MainCor s value o Use of marketing materials to tell the good news of MainCor MainCor knowledge/management abilities o Consulting work o Organizational management beyond MainCor Westport/ Broadway Think beyond MainCor s official boundaries How can it be sold? Determine what MainCor does and how it is funded o Use the Midtown/Plaza plan data to help support strategy Kelly to share city survey data to review what people are thinking Additional streetscaping Change the MainCor membership structure o Determine appropriate membership levels Diversity of people who participate with and attend MainCor events Business to business relationship program o Could expand involvement and participation o Use existing data and research (city info., etc.) to support the strategy Develop a strategy for new business development o Get information to the brokerage community MainCor project management o Can the organization work outside its membership to provide services? Review organizational goals and priorities Media o Spread the good news of MainCor Explore funding (grants, etc) to go beyond its current program. o Public/private partnerships o Tax Credits o Etc. Use positive relationship with UMKC and the educational community to benefit MainCor Take advantage of the increasing numbers of people living in the MainCor area o Get residents involved o How can more residential stock be built? o Stay involved in city planning and dialogue

7 THREATS Parking (convenience, lack of access in certain areas) Streetcar Funding Time constraints of businesses o Involvement requires a value proposition to drive participation Property owners/vacancy o Absentee landlords Lack of succession plan for MainCor staff leadership Need to communicate with various city departments to make sure MainCor s interests are consistently represented KCMO School District Safety Keeping Main Street attractive to young, urban professionals and other constituencies attracted to the area Focus MainCor s message to secure funding Shape of the MainCor district; no specific center or focal point Competition from other development districts o Broadway o Downtown o Troost o River Market Large number of property owners with various interests Balancing the myriad of benefits to groups within and beyond the MainCor boundaries Crime/drugs o Work closely with KC Police Department o Need to remain a priority for the city

8 PARKING LOT (items that require additional discussion and planning) 1. Determine MainCor s constituency What is the organization s value proposition? 2. Is MainCor s focus new member participation or business retention? What value can MainCor offer to engage businesses? 3. Establish a fee schedule for consulting with other organizations 4. Develop business to business MainCor business mentoring program 5. Determine if or how the organization pays for unfunded mandates imposed by others 6. Track incoming and outgoing businesses Work with real estate companies and the brokerage community to develop a database 1. connect with tenants of properties owned by others ii. Develop a marketing plan to communicate with the business community 7. Can MainCor use its CDC status to act as a developer in the area? 8. How will MainCor provide services in the future and what will those services be? Cannot be all things to all people Must focus limited resources to selected programs and services

9 Next Steps It was agreed that the group attending the July 10 session would review the notes from the SWOT discussion and would assist in further prioritizing actions to be used as the basis of a strategic plan for MainCor and the MainCor CID. A date for the follow up discussion and Strategic Planning session was not set but was targeted to occur before the end of Consultant Recommendations: The results of SWOT analysis and the resulting actions needed will be different for every organization. First, capitalize on opportunities that play to your strengths. Opportunities that match your strengths may prompt you to follow a strategy of aggressive expansion in certain areas, for example. The SWOT analysis may also suggest other strategic options. For example: Moving away from areas of significant threat to more promising opportunities. Focusing on turning around weaknesses in areas of significant opportunity. Taking defensive measures in areas of threat where you are weak. Next, address your weaknesses. Decide which weaknesses need to be addressed first. Other weaknesses must be acknowledged and respected until time and resources allow for a solution to be developed. Some weaknesses can be turned into strengths or opportunities. For example, it might be possible to turn a negative into a positive with the right plan of action. Some weaknesses have a clear solution. For example, financial weakness might be solved by raising further funds through the right constituencies. Some weaknesses will take time and money to address. For example, you may need to start a program of improvements over a designated period of time to deal with major issues. Finally, protect yourself against threats. For example: Build relationships with suppliers and customers. Promote good board and MainCor business relations. Draw up realistic contingency plans to cope with possible crises. Introduce the right types of service offerings for MainCor; what will people pay to support? Invest in legal protection for your intellectual property (such as MainCor training programs that can be sold to other organizations).

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