business retention & expansion by grady batchelor
DESCRIPTION
Soaring to Success with Business Retention & Expansion, a presentation given by Grady Batchelor at the Economic and Community Development Institute (ECDI) at Auburn UniversityTRANSCRIPT
Soaring To Success With Business Retention & Expansion (BR&E)Grady BatchelorPresident, Industrial DevelopmentAuthority of Winston County, Alabamawww.idawinston.org
What I’ve Learned About BR&E
BR&E Can Be Done BR&E Is Key To Success BR&E Opens Doors BR&E Creates Demand & Awareness BR&E Supports Funding Initiatives BR&E Uncovers Facts BR&E Promises Tremendous Future Value
What Is Synchronist®?*
A Tool
A Process
A Foundation for Growth
Synchronist® is a service of Blane-Canada Ltd.
Why BR&E – WIIFM?
Primary Outcomes
Business Retention
Business Expansion
Secondary Outcomes
Introduce Goodwill
Identify Opportunities
Develop Trust
Uncover Niches
Shape Policy
Secure Funding
Show the LoveShow your industries you care and they are important to you
Show your industries you care and they are important to you
Confidentiality People
Planning
BR&E Model
Partners
Key Elements of BR&E Programs
BR&E Begins & Ends With Confidentiality – Vital to Success
No information, written or verbal, concerning the industry shall be shared with any other individuals.
All information is for statistical analysis and is not to be revealed to third parties.
The rules of confidentiality will continue to apply after the interviews are completed.
BR&E Model
Step 1 Step 2 Step 3 Step 4 Step 5 Step 6
Pre-LaunchPlanning
CompanyVisits / Interviews
Post Visit / Red Flag Identification
Data Analysis
Follow Up
Strategic Planning and
Implementation
Post Visit/Red Flag
BR&E Model
Pre-Launch Planning Visits/Interviews
Define Objectives
Leadership
Publicity
Business Selection
Training
Business Contacts
Visits/Interviews
Post-Visit/Red Flag
Data Analysis
Strategic Planning
Implement Strategy
Plan Next Visit
Add clarifying details
Make adjustments as needed
Complete the Post Visit form
Make personal observations
Identify warning signs / Red Flags
Return the survey(s) to the appropriate party
Setup Meeting Time
Accept a Survey by Mail as a Last Resort
Take Two Copies of the Survey Forms to the Visit
Familiarize Yourself with the Survey Forms
Arrive 5 Minutes Early and Allow Timefor Tour
Make Introductions as Appropriate
Synchronist Forms
Company Background Form On-Site Form Post-Visit Form
Interview Dos
Do review the questions before the meeting. Do ensure you are familiar with all of the terminology used
in the survey. Do ask every question on the survey instrument. Do ask questions exactly as they are worded. Do mark answers with “does not apply” (DNA) or “no
response” (NR). Do ask probing questions where appropriate to elicit
information supporting the answer, especially on open-ended questions. (e.g., ask Who, What, When, Where, How and How Much).
Do record comments.
Interview Don’ts
Don’t try to solve a problem on the spot. Don’t make any promises of assistance. Don’t overreact to something said when you know or believe
the facts to be different. Don’t try to market services during the visit. Don’t accept a tour if it will delay your arrival at another visit. Don’t suggest answers even if you believe you know the
correct answer. Allow the executive to respond. Don’t get off the subject. Don’t skip survey items.
Identifying Red Flag Issues
• Handle Red Flag items immediately.
• Dominant Warning Signs– Corporate Warning Drivers
• ___________________• ___________________• ___________________• ___________________• ___________________• ___________________
Red Flags - Continued
– Operations Warning Drivers• ___________________• ___________________• ___________________• ___________________
– Facility Warning Drivers• ___________________• ___________________
– Market Warning Drivers• ___________________• ___________________• ___________________
More Red Flag Items
• Product / Service
• Market
• Industry
• Management
• Workforce
• Others
BR&E Initial Outcomes
New Product Line, A New Facility and 50 New Jobs Retained a Top Ten Industry and 450 Jobs Top Ten Industry, 75 Jobs Retained, 50 Jobs
Gained and 600 Additional Jobs Impacted Gained $450,000 in Community and Economic
Development Funding Identified a Unique Niche Market 2005 BREI Award for Excellence in Small
Community BR&E Programming
BR&E Fast Forward
New Industry Located to Lynn, IDA Approves $2.5M Bond Issue, 25-50 New Jobs
New Industry Locates in Haleyville, $1.5M Capital Investment, 30-50 New Jobs
Industry Expands in Double Springs, $2.5M Capital Investment, Water Infrastructure Grant for Industrial Park, 50 New Jobs
Cooperative Improvement District, Countywide Industrial Park Development, Site Selection Based on Key Economic Development Factors
Transorganizational Development
TransorganizationalDevelopment
Transorganizational Development
Planned change in the collective relationships of a variety of stakeholders to accomplish something beyond the capacity of any single organization (Culbert et al. 1972).
Major Positive Change
Major Positive Change
What I’ve Learned About BR&E
BR&E Can Be Done BR&E Is Key To Success BR&E Opens Doors BR&E Creates Demand & Awareness BR&E Supports Funding Initiatives BR&E Uncovers Facts BR&E Promises Tremendous Future Value
Conclusion and Contact Info
• Questions and Answers
• Contact Information– Grady Batchelor– (205) 269-1780– [email protected]