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Use AI to Improve Your Performance - 7/23/24


Many companies are integrating Artificial Intelligence (AI) into some aspect of their business.  This could greatly change how they operate, how they communicate with customers. This AI wave reminds me of a story from 20+ years ago when a stock brokerage firm launched a new website that greatly enhanced the Read more

The New Burger Experience - 7/16/24


Floyd loves a good hamburger. Any chance he gets to try a new spin on an old standby, he takes it. Recently, a burger joint opened near his house, and Floyd was very excited! It was owned by and named for a world-renowned chef, so it had to be Read more

Boost Customer Happiness - 7/9/24


There’s a cooking show that a friend of mine watches, and the premise is all about reverse engineering food.  They may take a Reese’s Peanut Butter Cup, analyze it, and determine the ingredients just by tasting it.  Then they figure out a recipe.  The cook will try to make Read more

Brainstorm to Better Yourself - 7/2/24


I’ve led enough sessions with clients on continuous improvement topics to have solid experience on how to lead ideation exercises, brainstorming to develop new ideas.  Oftentimes these sessions start with the right question; the first answers may not be the ultimate solution, but they can serve as a jumping Read more

The Power of the Pause - 6/25/24


When I’m facilitating a meeting, and it feels like it’s going off-track or the discussion is going a little longer than it should, I may say something like “let me pause the conversation so that…” or “let’s pause just for a minute and consider…” I don’t like the word STOP. Read more

Handle Interruptions Heroically - 6/18/24


In the middle of a project, Jimbo, the customer service team member, had to stop what he was doing because he received an e-mail from a customer complaining about their experience at a recent event. Later that day, Jimbo was asked by his boss to put everything on hold for Read more

From Employees to Teammates: The Shift - 6/11/24


Be a great teammate. Be a good team player. We’re all part of the team. We’re no longer employees, we’re team members! The phrase “Team” is used in describing co-workers so much more than it was used years ago.  Then, we would be talking about employees, talking about staff, talking Read more

Nurture New Relationships - 6/4/24


Freddie was a new business owner in town.  He was launching a franchise, had acquired some funding from a local bank, and was in search of staff who cared about customer service. All the while, he was in the process of renovating a storefront for his business, so he was Read more

There’s Positivity in Patience - 5/28/24


The employee at the financial services firm was working with a new client on a relatively simple loan.  The documentation was about as clear as it could get to the employee, but the customer had lots of questions.  The employee calmly, clearly, and specifically answered each question.  The meeting Read more

The Goal – A Great Experience - 5/21/24


The following is a narrative of a great experience (people, process, service, facility) at a minor league sporting event – key points that could apply to any business are in bold… Mark and I pulled into the parking lot, excited about the game.  The Slapshots had been on a roll Read more

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BRE – Be a Uniter, Not a Divider

Posted on September 11, 2013 in Business Advice, Government Please leave a comment

When economic developers discuss Business Retention & Expansion initiatives (BRE), problem-solving responsibilities often come to mind.

What issue is ABC Manufacturing having locally? How can I fix it?

BRE is also associated with opportunity identification.

Company XYZ is busting at the seams. We may be able to help them expand locally!

But one area that is not addressed enough but which serves both the goals of problem-solving and expansion is collaboration. In the article 7 Rivers Alliance continues to foster collaboration in region, the alliance (a group of members from three neighboring states) is working to get local businesses in a room together to talk about common issues and opportunities. The alliance “organizes meetings where they can provide updates on projects, discuss best practices, identify available resources and provide a local way to advance their learning. Topics of past meetings have included identifying data available for economic development, increasing access to capital and geographic information system mapping.”

Essentially, the alliance is trying to answer the question: “Are there some best practices that can be shared?”

BRE professionals are not islands. They don’t have to come up with every great idea, every solution, every opportunity on their own. And more importantly, often it’s not efficient to identify and determine a solution purely for one business in one situation. If the issues and opportunities cross multiple local businesses, get them in a room together, and just facilitate their sharing of information and best practices.

Sometimes, helping your customers help each other is the best thing a BRE professional can do.


Know What You Need to Know for BRE Success

Posted on July 25, 2013 in Business Advice, Government Please leave a comment

When Economic Development Organizations create their Business Retention & Expansion (BRE) Programs, they often have key goals such as:

  • Having a better understanding of business needs and expectations
  • Better matching community and government resources with specific needs of a given business
  • Improving relationships between the local government and its constituent businesses
  • Identifying companies at-risk of relocating or at-risk of job loss
  • Increasing local business retention and job growth.

These are all very good, very laudable goals. But to achieve goals such as these requires that the BRE professionals have resources, information, and intelligence on their local businesses.

If you want to understand needs, bring resources to bear for a local business, improve a relationship, know who’s at-risk of job loss, and grow the local economy, you need key pieces of information. Here’s a checklist for you to use to ensure you have what you need:

  • BRE Surveys – Understand retention drivers, current business outlook, likelihood to be recruited, perception of your local business environment, and many more characteristics.
  • Interviews from Site Visits – Learn about the local industry’s products/services, personnel needs/issues and recent changes, lease details, local customers and suppliers.
  • Business News Research – Gain information on leadership changes, facility closures/expansions, acquisitions, earnings, corporate strategies.
  • BRE Alerts – Get same day/next day updates on information that addresses imminent impact on a local business.
  • Exit Interviews – Learn the reasons why businesses left, so you can apply lessons learned to those that stayed.
  • Resource Updates – Have ongoing dialogue with local resources that help address business needs/issues so that you’re abreast of changes to programs, personnel, and information.

What else do you need? What do you need to know to best serve your local industries?

Get what you need so you can give what your locals businesses need.

Learn more about keeping up-to-date on your local businesses at http://brebuzz.com/


Give Your BRE Plan a Check-up

Posted on July 1, 2013 in Business Advice, Government Please leave a comment

Let’s do some BRE benchmarking. As a business retention/expansion executive, you probably know what your job is on a daily basis – the mission/purpose of your role, your part of the economic development organization. But what are the big picture long-term goals and objectives?

It’s easier to achieve a goal, if you’ve effectively identified the goal, planned the process, and measured progress. Noted below are Objectives/Purposes/Goals taken from three BRE planning documents. Compare your organization to these samples:

Hugo Business Retention and Expansion Research Report

  • To demonstrate support for local businesses
  • To help solve immediate business concerns
  • To increase local businesses’ ability to compete in the global economy
  • To establish and implement a strategic plan for economic development
  • To build community capacity to sustain growth and development

Entergy Business Retention and Expansion Guide

  • To demonstrate to existing firms that the community appreciates their contribution to the local economy
  • To encourage expansion that leads to sustainable job growth
  • To help businesses solve their problems and challenges
  • To assist local businesses in gaining awareness of available resources
  • To develop collaborative relationships for participating in comprehensive long-range retention and expansion activities
  • To build the community capacity and cooperation to sustain growth and development activities
  • To provide better information and understanding for all local leaders of the strengths and weaknesses of the business climate

City of Shoreview Business Retention and Expansion Strategic Plan

  • Support business development that increases the tax base and adds quality jobs
  • Retain quality businesses by creating a positive economic environment that supports and fosters business expansion in the community
  • Plan for and pursue redevelopment opportunities consistent with City goals
  • Promote reinvestment in the community by directing time and financial resources to pre-determined business and neighborhood targets
  • Strive to meet the needs and demands of the community for specific services

Where are the gaps in your organization’s goals that you need to fill based on what these other BRE programs emphasize. How will you plan (strategically) the process to achieve the goals? How will you measure your progression toward the goals?

Make sure your BRE program isn’t simply about making visits and resolving issues. There’s got to be a strategic component. There’s got to be ongoing research on the clients even when you are not face-to-face with them. There’s got to be the goal, the long-term plan, and the measurements of progress.

Give your BRE Plan a check-up.

Learn more about keeping up-to-date on your local businesses at http://brebuzz.com/


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