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The Significance of Business Retention & Expansion (BRE)

The Significance of Business Retention & Expansion (BRE). South Dakota Governor’s Economic Development Conference April 16, 2013. The Significance of Business Retention & Expansion (BRE). BRE: The Ultimate Inferiority Complex. The Significance of Business Retention & Expansion (BRE).

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The Significance of Business Retention & Expansion (BRE)

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  1. The Significance of Business Retention & Expansion (BRE) South Dakota Governor’s Economic Development Conference April 16, 2013

  2. The Significance of Business Retention & Expansion (BRE) BRE: The Ultimate Inferiority Complex

  3. The Significance of Business Retention & Expansion (BRE) • Past Reality: • Less than 30% of budgets • Recession of early 80’s opened our eyes • Began movement towardsparity with recruitment • “We have seen the light”

  4. The Significance of Business Retention & Expansion (BRE) Current Realization: BETWEEN 70% & 90% OF NEW JOBS COME FROM EXPANSION OF EXISTING COMPANIES

  5. The Significance of Business Retention & Expansion (BRE) Why Local Companies Are Important?

  6. The Significance of Business Retention & Expansion (BRE) • Why Customers Leave: • 3% - Death • 4% - Change Location • 6% - Friendship • 8% - Advertisement • 12% - Driven Away • 67% - Felt Neglected

  7. The Significance of Business Retention & Expansion (BRE) What can we do about this problem?

  8. The Significance of Business Retention & Expansion (BRE) Create a Successful BRE Effort

  9. The Significance of Business Retention & Expansion (BRE) Step One: Access Your Local Industry

  10. The Significance of Business Retention & Expansion (BRE) Internal: The Company’s Ability To Compete External: The Community’s Ability To Compete For Investment

  11. The Significance of Business Retention & Expansion (BRE) Step Two: Secure Collaborative Buy-in

  12. The Significance of Business Retention & Expansion (BRE) • Form A Core Leadership Group • Collaborative • Builds Support • Drives The Process

  13. The Significance of Business Retention & Expansion (BRE) Step Three: Develop A Contact Strategy

  14. The Significance of Business Retention & Expansion (BRE) Step Four: Learn & Teach The Strategy

  15. The Significance of Business Retention & Expansion (BRE) Step Five: Execute The Contact Strategy

  16. The Significance of Business Retention & Expansion (BRE) • Three Primary Contact Methods: • Mail • Online • Personal Visit

  17. The Significance of Business Retention & Expansion (BRE) Step Six: Analyze and Disseminate

  18. The Significance of Business Retention & Expansion (BRE) • What Are You Looking For? • Industry/Sector/Cluster Trends • Early Warnings • Spot Opportunities

  19. The Significance of Business Retention & Expansion (BRE) BOTTOM LINE: They Need To Know That Someone Cares!!!

  20. The Significance of Business Retention & Expansion (BRE) Step Seven: Follow-up (Or Forget It!!)

  21. The Significance of Business Retention & Expansion (BRE) • Summary Of Care & Feeding: • Foster Ongoing Dialog • Network & Over-communicate • Create Trust, Word-of-Mouth Reputation • Effectively Gather Intelligence • Everyone Must Be On Board

  22. The Significance of Business Retention & Expansion (BRE) “There is a destiny that makes us brothers, none goes his way alone. All that you send into the lives of others comes back into your own.” Edwin Markham

  23. Questions/Contact Info Ronnie L. Bryant, CEcD, FM, HLM President & CEO Charlotte Regional Partnership 704-347-8942 rbryant@charlotteusa.com

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