Is Your Board Ready for Innovative Ideas? 2018 AESA Conference Colorado Springs CO 11.29.18

Presented by: Valentina Viletto, Esq. – Director of Community and Government Relations Stan H. Wisler – Chief Financial Officer

What is Montgomery County Intermediate Unit?

Montgomery County Intermediate Unit Suburbs of Philadelphia 22 School Districts 150+ Private and Charter Schools $150 Million Budget 500+ Employees 9 Offices Who We Are?

Agenda Part 1: Why? Part 2: Board Relationships Part 3: ESA Readiness Part 4: Is Your Project Worthy of Pursuit? Part 5: Presentation Preparation Part 6: Board Presentation Part 7: Stories Summary/Questions/Comments Agenda

Part 1: WHY? Always start with why!

WHY? Why am I here (at this session)? Why does my Board need to be “readied”? Why does my ESA need to be innovative? Critical Questions

Entrepreneurial Used to describe someone who makes money by starting their own business, especially when this involves seeing a new opportunity and taking risks Definition

Entrepreneurial Avoiding Risk Ignoring Risk Assessing Risk Puddle Example – Don’t assume it’s too deep Don’t assume it can be crossed Don’t just take someone else’s word for it Risk & Opportunity

Areas of Risk Cash Flow Growth Political Legal Staffing/Infrastructure

Risk Assessment Ask Yourself: “What’s the Worst That Can Happen?” Solicit Input from Multiple Sources – Importance of Networking Develop a Business Plan Engage in Financial Forecasting

Part 2: Good Board Relationships The Basics

Board Relationships Education is Key Building Trust Understanding an ESA Accepting/Understanding Role of a Board Member Understanding budget in a “business” environment vs. school district budgeting Building Trust Critical Nature of Trust Key Strategies Transparency The Basics

The Role of the Board/Board Members Educating the Board Supportive Big Picture Mission/Vision Micromanagement – NOT!! The Role of the Board/Board Members

Educating the Board Quasi-business Expenditures Revenue streams Stakeholders Educating the Board What is an ESA?

Part 3: Is Your ESA Ready?

Part 3: Is Your ESA Ready? Are Staff On Board? Creating a Culture of Innovation Do You Have the Resources? Processes and Structures – Budgeting, etc. Part 3: Is Your ESA Ready?

Is Your ESA Ready? Getting current staff on board Hiring the right people Qualifications Qualities Process Developing the team Staff

Ref: Drive by Daniel Pink Create a sense of purpose Discover and develop the skills of individuals Team diversity – stronger together Rewards and recognition (motivation) Ref: Drive by Daniel Pink Developing the Team For Innovation

Five Dysfunctions of a Team Absence of Trust Fear of Conflict Lack of Commitment Avoidance of Accountability Inattention to Results Book by Patrick Lencioni

Part 4: Is Your Innovative Idea Worthy of Pursuit?

Success Factors Feasibility Study Project Planning (thorough but efficient) Quality Assurance Checks Responsible Parties – assign a project manager/lead person

Goal: Proceed, Revise, or Abandon Feasibility Study Evaluate Market Demand Assess the Competition Determine Saturation Level of Product/Service Determine expected “shelf life” Calculate the development costs Identify the selling price Gauge the ROI Goal: Proceed, Revise, or Abandon

Part 4: Is Your Innovative Idea Worthy of Pursuit? Consistent Review Template Awareness of Competition Anticipation of Future Needs Shark Tank Approach Determinations

The Shark Tank Approach 10 Things to Do When Presenting Your Idea Clearly, succinctly explain your business idea Know the numbers Know your audience Prepare for all potential questions Be Honest Explain your growth plan Point out your weaknesses Explain why you are uniquely qualified to offer the service Be confident Be Appreciative of the Opportunity The Shark Tank Approach Adapted from Business Insider’s tips for presenting to the Shark Tank

Part 5: Preparing for the Board Presentation

Part 5: Preparing for the Board Presentation Tied to Mission/Vision Review by Staff – Various Backgrounds and Levels Anticipate Questions

Part 6: Presenting Ideas to the Board

Part 6: Presenting Ideas to the Board Start with the recommendation Provide back up detail Clear and concise Transparent – acknowledge risks Frank and honest Review Period/Evaluation Plan Follow up

Part 7: Sample Stories

Part 7 Healthcare Consortium Transportation Consortium The Anderson School Early Learning Initiatives Workforce Investment Story Time

Questions/Comments

Valentina Viletto, Esq. tviletto@mciu.org Phone: 610.755.9312 Stan H. Wisler swisler@mciu.org 610.755.9304 Montgomery County Intermediate Unit 2 West Lafayette Street Norristown, PA 19401 Contact Information