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National Center for Economic Gardening Founded by Chris Gibbons, CEO Based on the principles originating in Littleton, Colorado Governing body for principles, process and tools Training and certification for state or regional SRT programs and teams Economic Gardening Economic Gardening
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What is Economic Gardening? A unique program for second-stage companies providing critical and often difficult to find information that helps you make informed decisions about strategic issues. 2
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Past startup – with proven model Intent and capacity for growth Privately-held 10-99 employees 1-50 Million in revenue Includes high growth, high potential and steady growth Increase attention on growth companies
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Why Focus on Second-Stage? Nationally they represent less than 10% of companies yet they create over 35% of new jobs. They create wealth within their communities that stays in their communities. They attract outside capital. Their success attracts other companies and talent. They drive culture and affect philanthropy. They are my loyal to their community because they chose to grow there.
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What Makes it Different From Other Programs Out There? Deals with strategic, not operational issues. Not consultants, provide information to help companies make better decisions, not tell them what to do. Trained specialists with high-level corporate tools. Information in days and weeks, not months. Access to over 26 nationwide specialists using diverse tools that are constantly updated. Operated virtually, no travel costs 5
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Focus on Strategic Issues? Core strategy Market dynamics Innovation Temperament Qualified sales leads 6
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What Kind of Information? Market research Industry trends Competitor intelligence New product releases GIS computer maps of customers, competitors, potential markets, trade areas Search engine optimization, social media, web marketing 7
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Examples From Actual Engagements DNA Software (Michigan) – Analyzed website where content was technically overwhelming – Discovered industry-specific “watering holes” to increase awareness and drive web traffic Flame Engineering (Kansas) – Helped them understand social media was not the best marketing tool – Discovered a new market that resulted in 100 new clients B&F Fastener (Minnesota) – Found optimal locations for two new branches – Reduced time for openings by six months 8
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Testimonial: Tevan Green, President and CEO of Hampton-based Citadel Logic The team gave Green detailed information, such as the potential market for his services, if the market is growing, and how fast and why the market is growing. "All we have to do now is execute," Green said. "We know what doors we want to go through because of the economic gardening team. Green was so convinced by the program that he said he will pay for another company to undergo the training and education. 9
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National Team Members Team Leader: Helps identify your core issues and coordinates specialists to find information Specialists: Private-sector experts across the country
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Tools Commercial database searching – Deeper than Internet searches on markets, competitors, regulations, etc. Deep web – Exotic databases found inside the Internet far from typical searches Geographical Information Systems – Computerized data mapping to spot customer densities, potential markets and competitors Search Engine Optimization – Get websites as high as possible in Google searches Listening Posts – Where people go to talk about the things you need to know Network Mapping – Diagramming networks on the web, Twitter and Facebook Information Gathering – Databases finding company information in the media and blogs – 11
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Company Time Invested Engagements run about about 6 weeks, but are paced by the company Typically 36 hours of assistance About 8 to 12 hours of company time invested during the engagement 12
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The National Center Provides Process for EG Learn from best practices Proven model Great funnel into and from other programs Local, Regional, or Statewide Programs Launched Quickly Measurable success Edward Lowe Foundation© 2014
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Success to Date 38 programs 27 states (7 statewide) 2012 – 298 companies – 19 networks 2013 – 314 companies – 30 networks Florida – 298 companies Edward Lowe Foundation© 2014
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Economic Gardening in Colorado Edward Lowe Foundation copyright 201215 The SBDC ADVANCED program is open to Colorado businesses at three levels: Gold, Silver, and Copper (see details below). Deliverables provided may include specialized reports in market research, geographic information systems (GIS), financial analysis, marketing and search engine optimization (SEO). The SBDC ADVANCED program taps into corporate-level tools, experienced consultants and their strategic plans. Businesses can apply to be involved in the SBDC ADVANCED program beginning January 1, 2014. Contact: Joey Jenkins joey.jenkins@state.co.us 303-892-3840
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