Business Retention & Expansion by Grady Batchelor

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Information about Business Retention & Expansion by Grady Batchelor
Education

Published on December 8, 2008

Author: grady

Source: slideshare.net

Description

Soaring to Success with Business Retention & Expansion, a presentation given by Grady Batchelor at the Economic and Community Development Institute (ECDI) at Auburn University

Soaring To Success With Business Retention & Expansion (BR&E) Grady Batchelor President, Industrial Development Authority of Winston County, Alabama www.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

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 Love Show your industries you care and they are important to you

Business Retention

Business Expansion

Introduce Goodwill

Identify Opportunities

Develop Trust

Uncover Niches

Shape Policy

Secure Funding

Show the Love

Key Elements of BR&E Programs Confidentiality People Planning BR&E Model Partners

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.

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-Launch Planning Company Visits / Interviews Post Visit / Red Flag Identification Data Analysis Follow Up Strategic Planning and Implementation

BR&E Model Post Visit/Red Flag 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 Time for Tour Make Introductions as Appropriate

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 Time for Tour

Make Introductions as Appropriate

Synchronist Forms Company Background Form On-Site Form Post-Visit Form

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.

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.

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 ___________________ ___________________ ___________________ ___________________ ___________________ ___________________

Handle Red Flag items immediately.

Dominant Warning Signs

Corporate Warning Drivers

___________________

___________________

___________________

___________________

___________________

___________________

Red Flags - Continued Operations Warning Drivers ___________________ ___________________ ___________________ ___________________ Facility Warning Drivers ___________________ ___________________ Market Warning Drivers ___________________ ___________________ ___________________

Operations Warning Drivers

___________________

___________________

___________________

___________________

Facility Warning Drivers

___________________

___________________

Market Warning Drivers

___________________

___________________

___________________

More Red Flag Items Product / Service Market Industry Management Workforce Others

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

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

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

Transorganizational Development 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).

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

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_address]

Questions and Answers

Contact Information

Grady Batchelor

(205) 269-1780

[email_address]

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