Wisconsin Basic Economic Development Course

The First Year: Building & Managing Your Economic Development Organization

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Wisconsin Basic

Economic Development

Course

Madison, WI

Nov 9-12,2009

Jobs. Income. Wealth. Hurry!Jobs. Income. Wealth. Hurry!

• Dec. 1, 2008. Welcome!

• The joys and challenges of a (mostly) blank slate

• The past informs the future - choose carefully

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Wisconsin Basic

Economic Development

Course

Madison, WI

Nov 9-12,2009

Management by walking aroundManagement by walking around

• The art of the possible. So long subtlety.

• Assets and strengths in a collapsing economy

• Hit the ground. Pick yourself up. Start walking.

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Wisconsin Basic

Economic Development

Course

Madison, WI

Nov 9-12,2009

As an entrepreneur & inventor…. As an entrepreneur & inventor….

• Why an entrepreneur’s background helped

• How innovation speaks to organizing EDC work

• Ready. Fire. Aim.

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Wisconsin Basic

Economic Development

Course

Madison, WI

Nov 9-12,2009

Benefits of Board preparation Benefits of Board preparation

• Entity formation / bylaws largely in place

• Key players engaged

• Mentors, mentors, mentors (repeat)

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Wisconsin Basic

Economic Development

Course

Madison, WI

Nov 9-12,2009

Expectations VS reality Expectations VS reality

• What I expected to be doing

• What I did

• What I wish I did more of

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Wisconsin Basic

Economic Development

Course

Madison, WI

Nov 9-12,2009

Building the house while moving in Building the house while moving in

• Don’t wait for the perfect moment

• Create identifiable projects

• Revel in the silent stuff

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Wisconsin Basic

Economic Development

Course

Madison, WI

Nov 9-12,2009

Build the organization to hand off Build the organization to hand off

• Transparency creates long term success

• All work in service to the goal

• Sustainable = repeatable

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Wisconsin Basic

Economic Development

Course

Madison, WI

Nov 9-12,2009

Growth VS Development Growth VS Development

• Projects are easy. Solutions are tough.

• Development = qualitative, sustainable improvement

• Would I want to live with it?

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Wisconsin Basic

Economic Development

Course

Madison, WI

Nov 9-12,2009

How our Board most helped USHow our Board most helped US

• A demand for professionalism.

• Leaning into what’s possible.

• Setting goals. Clearing pathways.

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Wisconsin Basic

Economic Development

Course

Madison, WI

Nov 9-12,2009

How our Board most helped MEHow our Board most helped ME

• First year Treasurer work ( ! )

• Supporting / insisting on professional development .

• Celebrating failure.

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Wisconsin Basic

Economic Development

Course

Madison, WI

Nov 9-12,2009

Getting Boards & Directors to dance Getting Boards & Directors to dance

• Meet socially on hiring.

• Business session ASAP with Executive Committee.

• Create a big space for playing ‘What - if?’.

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Wisconsin Basic

Economic Development

Course

Madison, WI

Nov 9-12,2009

Business (community) retentionBusiness (community) retention

• Listen. Listen harder. Repeat.

• Help organize new value from existing assets.

• Connect dots where none exist.

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Wisconsin Basic

Economic Development

Course

Madison, WI

Nov 9-12,2009

New EDCs & their communitiesNew EDCs & their communities

• Identify power actors and valuable ways to interact

• The power of ‘I LOVE this stuff!’

• Inclusiveness rules.

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Wisconsin Basic

Economic Development

Course

Madison, WI

Nov 9-12,2009

Open records / Open meetingsOpen records / Open meetings

• Get smart. Get transparent.

• World class digital and hard copy capture systems

• Behave like a duck.

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Wisconsin Basic

Economic Development

Course

Madison, WI

Nov 9-12,2009

Caution! Wonkiness ahead….Caution! Wonkiness ahead….

• CPA/chart of accounts. Tax responsibilities.

• Insurance: D&O, Business, Worker’s Comp.

• Org docs: bylaws, policies, discrimination, harassment,

conflict of interest, work plan….

• Work docs: Typical HR, all in print: pay periods,

vacation, sick leave, mileage….

• EDC work: land of the night meetings.

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Wisconsin Basic

Economic Development

Course

Madison, WI

Nov 9-12,2009

Regional resilienceRegional resilience

• Unlimited potential for collaboration.

• Unexpected possibilities for celebrating Wisconsin.

• Leverage, access, muscle. Use it or lose it.

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Wisconsin Basic

Economic Development

Course

Madison, WI

Nov 9-12,2009

< 1 year. Welcome to Iowa County!< 1 year. Welcome to Iowa County!

• The continuous dance of docs and dreams.

• Wisconsin Food Innovation Kitchen.

• Driftless Foods.

• Multi-region / Multi-state partners.

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Wisconsin Basic

Economic Development

Course

Madison, WI

Nov 9-12,2009

Recommendations for year 1Recommendations for year 1

• Dream big.

• Act smart.

• Create hope.

• Repeat.

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Wisconsin Basic

Economic Development

Course

Madison, WI

Nov 9-12,2009

Contact informationContact information

• Rick Terrien

• Iowa County Area Economic Development

• 608 577 7546

• rickt@iowacountyedc.org.

• www.iowacountyedc.org