Regional Entrepreneurial Session An Opportunity to Assess and Build Capacity to Enhance Business Development in Monona, Plymouth, Woodbury Counties (Region III) Facilitators: Drew Conrad, CEcD James Hoelscher Rob Williams This project is made possible by UNI Business & Community Services and the U.S. Department of Commerce Economic Development Administration.

Purpose: To set the strategic direction and framework of the Regional Entrepreneurial Development Plan

Agenda I. Introductions & Overview II. Reviewing the Stakeholder Educational Session III. Identifying Current Initiatives & Potential Gaps IV. Creating the Desired Future for Regional Entrepreneurship V. Developing Major Goals / Initiatives VI. Summary & Identifying Next Steps

Benefits of Planning  Establishes a broad base of support for shared goals and specific actions  Gives credibility and communicates well what the community’s goals are  Aids in identifying and targeting resources  Helps organizations move in compatible directions, not alone

 We will keep it informal, yet structured, and start on time  We will encourage maximum participation, being open / candid here in the session  We will listen and not dominate  We will remain constructive  We will focus on and commit to the greater good  We will “be present while we are here” (turning off cell phones)  We will take silence to mean affirmation or informed consent  We will trust the process  We will be specific and use examples to avoid unintended misunderstandings  We will operate with consensus, as defined below Proposed Operating Principles:

Definition of Consensus All participants have an opportunity to give input, exercised or not Participants’ ideas have been acknowledged by the group and each person feels they have been “heard” Participants indicate that they can live with the outcome of the process; they will not speak negatively or work against the outcome, since the process has been fair Participants accept that consensus is not necessarily unanimous agreement

Planning Session 1 – February Session Outcomes:  Identifying Gaps  Creating a Vision for the Future  Goal Setting

Planning Session 2 – March 27, :00am-1:00pm Plymouth County Session Outcomes:  Validating Goals  Determining Timelines  Assigning Responsibility

Planning Session 3 – April 29, :00am-1:00pm Moville Area Community Center Session Outcomes:  Validating the Draft Plan  Organizing for the Adoption & Endorsement Process

Moving Forward – May – July 2015 Activities:  Planning team organizes for the adoption and endorsement process and monitoring implementation progress  Planning team determines any changes in the plan based on the adoption and endorsement process

Unveiling of Plan & Organizing for Implementation Activities:  Unveiling the plan and keeping the plan “alive” with the initiation of a regionally-based implementation and monitoring team  Attend the plan unveiling and provide comments regarding the process

What We Need to Keep in Mind Throughout the Planning Process…

Trends

What is Our Shared Understanding of “Entrepreneurship”? Can Include: Ownership and operation of existing smaller businesses in all industries Starting new businesses Growing, thriving and struggling operations Agriculture to Astronauts, Retail to Manufacturing Prospective or potential business owners – youth to retirees Entrepreneur (person), Entrepreneurship (verb) and Entrepreneurial (mindset)

Types of Entrepreneurs Each is Unique…  Micro-Enterprise  Small Business  Innovator  Venture Company

Needs of Entrepreneurs  Supportive Culture  Business/Technical Assistance  Networks  Capital

CapitalNetworkingTechnical Assistance Micro Enterprises Driver: Passion <$35,000 Microloans with flex terms Grants Peer micro enterprise networking opportunities (Expos, Associations) Mentoring (SCORE) Peer advice groups Small Business Driver: Normal Profits $50,000 to $500,000 commercial financing SBA and commercial lenders target client Professional networking opportunities (Chamber, City Council) Specialized Business Assistance (SBDC target client) Quick Books, or other highly relevant classes/workshops Innovator Driver: Opportunity Equity and Angel Investment Too risky for commercial lending organizations Intimate 1:1 contacts with well connected community leaders With peer innovators Surround with potential management teams Venture Company Driver: Growth Venture Capital funding of $500,000+, some late stage Angel Critical introductions to top industry experts and resources Research institutions, and/or highly specialized academic centers State agencies (Venture Net, Iowa Economic Development Authority)

Identifying Current Initiatives and Potential Gaps

In your opinion, what are the most significant accomplishments in entrepreneurial development in your area over the past several years? What initiatives are currently underway in the 3 county region? What gaps exist in entrepreneurial development in the region? 4-Feb-15

Creating a Shared Vision for Regional Entrepreneural Development

Do You Have a Shared Vision for Regional Entrepreneurship? No shared vision and no coordinated priorities or action plans There’s a vision but unsupported; lots of unshared priorities and several action plans; little alignment with vision Shared vision supported by the citizens and community organizations with shared, coordinated priorities and accepted responsibilities

Creating 2020 Put yourself out into the future (5 years) and assume some really good additional entrepreneurial development initiatives have happened in your 3 county region… As a result of your planning work and the follow- up implementation, what kind of entrepreneurial development initiatives/projects/programs exist in the future?

Developing Major Goals that will Get us to Our Vision

2020 Vision Element: To be nationally recognized as a leading rural community for female entrepreneurs. Goal: To create a Female Entrepreneur of the Year award by June Goal: To sponsor the first Technology Summit for female business owners by January 2017

Developing Major Goals Based on the desired projects/programs and potential gaps, what entrepreneurial development initiatives do you believe should be accomplished in each of these areas: 1.Supportive Culture 2.Business/Technical Assistance 3.Networks 4.Capital

Summary & Next Steps  Summary Report  Next Meeting Dates Thank You for Your Commitment!