The value of newsletters has diminished dramatically with the advent of broadcast email and blogging software. Delete, delete, delete is the typical reaction. When we styled Blane, Canada newsletter 13 Tips—formerly Economic Development Marketing Letter—in 1994 we focused on pointed 4-5 lines (Twitter copied this style from us!), providing information that adds value and broadened perspectives.
~~~"Belief is about collecting ideas and investing in them. Faith is about having your ideas obliterated and having nothing to hang onto and trusting that it's going to be all right anyway." Source: Barbara Hall
~~~We believe in economic development, because people have faith it its power.
~~~The hard work required to stay relevant My keynote address to the Economic Development Council of Ontario (EDCO), in Toronto, CANADA focused on the connection between our sense of client, our tribe, and living at the edge (of change). Operating at the intersection of these 3 practices allow our economic development organizations to remain relevant. Here we can live up to the ideals that made our organizations successful and evolve them, remaining relevant as the world changes.
~~~"The world is changed by your example, not by your opinion." Paulo Coelho
~~~Upcoming speaking assignments New Castle EDC, Annual Dinner Keynote, Indiana. Peterborough Economic Development, Annual Meeting Keynote, Ontario, CANADA. Iowa Smart Conference, Business Retention & Expansion Best Practices Workshop, Des Moines, Iowa. Business Retention and Expansion International Annual Conference Keynote, Jackson, Mississippi. Economic Development Council of Colorado, Annual Conference, Colorado Springs.
~~~Cell phone makes you dumb to extend the thought broached in the last edition of Tips; If you always have your cell phone at the ready, the mindless activity can suppress the sense of boredom which is the mother of innovation. Walk away from the phone. Embrace boredom. Open yourself to innovation.
~~~The little experiment that DID 23 years ago, a small, international band of visionaries quietly came together to reimagine the business retention interview. As they worked, they challenged old assumptions and traditional perspectives. In the end, they successfully 1) Applied competitive intelligence (psychology, question design, information outcomes, analytics) to the BR|E interview; 2) Demonstrated the importance of context to analysis of local findings – national and regional benchmarks; 3) Evaluated company risk from 3600 perspective instead of the classic 1200 view (community), and, 4) Calculated an asset value of each company interviewed to aid in resource allocation. It is not about the data. These visionaries were focused on getting more from the process of BR|E. These goals form the backbone of Synchronist Suite and are still at the cutting edge of applied BR|E strategy. If you are among the 73% of economic developers looking to elevate your BR|E program, call Eric: 630-936-8078.
~~~Your leadership style and success in keeping your organization relevant is determined by your answer to a single question: I was hired to; a) to lead the economic development program (or department) or, b) to grow the local economy. So, what is it?
~~~JAXUSA Partnership's Senior Director of Business Intelligence Melonie Moore plays a similar role in Jacksonville, FL. We hope this is a new trend. Knowledge of the client(s) is a key element of keeping our organizations relevant when technology and communications eliminates historic roles. It must be noted that a true business intelligence function is not just a rebranding of the economic development research function which is all about fluffing up demographic data for prospects and prospecting. Business intelligence can be an engagement strategy. Think BIG! Think LOCAL!
~~~Business Intelligence note: To be effective this emerging trend (the business intelligence department) is not just a rebranding of the research department. It is an arm of the CEO suite as practiced by Greater Dubuque Development Corp for over 15 years.
~~~Debunking trade myths For at least the past 20 years, policy makers, politicians, pundits, and voters in mature markets have worried that their countries are losing ground—above all, in manufacturing—to emerging economies. It’s important to ground the debate on the impact of trade in the truth. A 2012 report from the McKinsey Global Institute (MGI) examined conventional wisdom surrounding globalization: for example, mature economies are losing out to emerging ones in trade and therefore face rising trade deficits, manufactured goods are mainly responsible for them, and trade is the principal reason for the loss of manufacturing jobs in developed economies. False, false, false. See through these widespread misconceptions about how economies create and destroy manufacturing and service jobs. Read “Trading myths: Addressing misconceptions about trade, jobs, and competitiveness”
~~~Mix-up your play list check out Gulch radio, Jerome, AZ. Gulch radio has become a late-night favorite here at Blane, Canada. Where we appreciate “Mountain Stranded Time.” Recommended by friend Peter Myall, Toronto, Ontario, Canada.
~~~Think about this “All the talk about self-driving cars is really about how they (giant tech companies) can monetize the time we spend in our vehicles.” Quote: Alex Roy, auto writer, The Future of Driving, Hagerty Magazine, May-June. Yet another instance of turning people into data slaves.
~~~Curse of Expertise Too much invested in expertise creates an unintentional bias, limiting innovation. (Psychology, Behavioral Economics); Experts are at the bottom of the hole frantically digging to maintain the “advantage” of their expertise, limiting innovation (Ed DeBono); Cartoon, Job applicant “12 years of experience, blah, blah “. Executive thought bubble 1 year of experience 12 times
~~~Battery high / Brain low A recent study from the University of Texas found that merely having your phone within reach can significantly reduce cognitive capacity—even if it’s turned off. As one of the researchers behind the study put it, your phone is a “brain drain.”
~~~Existing Business web presence strategy Book this new on-site workshop or webinar from Blane, Canada Ltd. to help you community partners fine tune their website strategy to speak directly to their existing employers and increase the potential for private sector funding. Call Eric for details 630-462-9222 x 700
~~~In God We Trust everybody else must have data! Check out Synchronist Key Performance Indicators Ð Local, Regional, National Ð for BR|E. See beyond the numbers.
~~~Looking for the elusive progressive economic development strategist We have been working a fascinating manufacturing project over the last six months. Looking for the person who can handle a high-impact, blue ocean strategy. A similar hunt years ago took 18 months to find a small group of progressives. What we find is an abundant supply of traditionalist who use their mission statement as blinders blocking peripheral vision and true opportunity. Who are you? The traditionalist or the progressive. Is your style holding you and your organization back?
~~~Strategic Doing News If you are frustrated with the limitations of strategic planning, you may be interested in the Strategic Doing approach which presents an alternative for economic development organizations. For more information follow the LinkedIn Group “Strategic Doing” or connect with the Agility Lab or Ed Morrison directly.
~~~Economic Development is All About the Team Lessons from Economic Development for the Team. An interview with Eric Canada. Podcast #33 From the folks at DevelopThisPodcast.com