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Wisconsin Basic Economic Development Course

Wisconsin Basic Economic Development Course. The First Year: Building & Managing Your Economic Development Organization. Jobs. Income. Wealth. Hurry!. • Dec. 1, 2008. Welcome! • The joys and challenges of a (mostly) blank slate • The past informs the future - choose carefully.

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Wisconsin Basic Economic Development Course

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  1. Wisconsin Basic Economic Development Course The First Year: Building & Managing Your Economic Development Organization

  2. Jobs. Income. Wealth. Hurry! • Dec. 1, 2008. Welcome! • The joys and challenges of a (mostly) blank slate • The past informs the future - choose carefully

  3. Management by walking around • The art of the possible. So long subtlety. • Assets and strengths in a collapsing economy • Hit the ground. Pick yourself up. Start walking.

  4. As an entrepreneur & inventor…. • Why an entrepreneur’s background helped • How innovation speaks to organizing EDC work • Ready. Fire. Aim.

  5. Benefits of Board preparation • Entity formation / bylaws largely in place • Key players engaged • Mentors, mentors, mentors (repeat)

  6. Expectations VS reality • What I expected to be doing • What I did • What I wish I did more of

  7. Building the house while moving in • Don’t wait for the perfect moment • Create identifiable projects • Revel in the silent stuff

  8. Build the organization to hand off • Transparency creates long term success • All work in service to the goal • Sustainable = repeatable

  9. Growth VS Development • Projects are easy. Solutions are tough. • Development = qualitative, sustainable improvement • Would I want to live with it?

  10. How our Board most helped US • A demand for professionalism. • Leaning into what’s possible. • Setting goals. Clearing pathways.

  11. How our Board most helped ME • First year Treasurer work ( ! ) • Supporting / insisting on professional development . • Celebrating failure.

  12. Getting Boards & Directors to dance • Meet socially on hiring. • Business session ASAP with Executive Committee. • Create a big space for playing ‘What - if?’.

  13. Business (community) retention • Listen. Listen harder. Repeat. • Help organize new value from existing assets. • Connect dots where none exist.

  14. New EDCs & their communities • Identify power actors and valuable ways to interact • The power of ‘I LOVE this stuff!’ • Inclusiveness rules.

  15. Open records / Open meetings • Get smart. Get transparent. • World class digital and hard copy capture systems • Behave like a duck.

  16. Caution! Wonkiness ahead…. • CPA/chart of accounts. Tax responsibilities. • Insurance: D&O, Business, Worker’s Comp. • Org docs: bylaws, policies, discrimination, harassment, conflict of interest, work plan…. • Work docs: Typical HR, all in print: pay periods, vacation, sick leave, mileage…. • EDC work: land of the night meetings.

  17. Regional resilience • Unlimited potential for collaboration. • Unexpected possibilities for celebrating Wisconsin. • Leverage, access, muscle. Use it or lose it.

  18. < 1 year. Welcome to Iowa County! • The continuous dance of docs and dreams. • Wisconsin Food Innovation Kitchen. • Driftless Foods. • Multi-region / Multi-state partners.

  19. Recommendations for year 1 • Dream big. • Act smart. • Create hope. • Repeat.

  20. Contact information • Rick Terrien • Iowa County Area Economic Development • 608 577 7546 • rickt@iowacountyedc.org. • www.iowacountyedc.org

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