Economic Development Solutions
Economic development is not achieved through a simple solution or a quick fix. It requires dedicated effort and hard work. Successful economic development organizations recognize the importance of having a clear mission and an ongoing process of improvement.
This journey begins with a brave act of self-assessment, identifying strengths and weaknesses, and subsequently formulating an action plan.
At BBA, our strength lies in asking the right questions. Our mission is to provide unbiased insights and solutions to empower our clients to take action.
The Power of Planning
A well-crafted plan serves as a roadmap to the future, guiding an organization towards its goals and defining its purpose. However, it is crucial to avoid getting trapped in excessive planning. Often, planning can become a comfortable yet unproductive exercise, hindering decision-making and meaningful action. As T. Boone Pickens wisely said, "A plan without action is just a speech."
Pickens also advised to avoid the "ready-aim-aim-aim-aim" syndrome and be willing to take decisive action.
A fundamental aspect of strategic planning is conducting a SWOT analysis, which assesses a community's Strengths, Weaknesses, Opportunities, and Threats.
Our SWOT analysis involves a combination of in-person and virtual interviews with community stakeholders, ensuring anonymity and confidentiality. No one will be quoted.
During this initial phase of exploration, we gather and analyze data regarding key employers, transportation and market access, available buildings and sites, infrastructure, education, workforce development, business climate, and quality of life.
All our findings, with the exception of the names of those interviewed, are shared with our economic development clients through weekly online meetings. We actively seek their input and constructive criticism throughout the entire process, making them an integral part of our project team.
We offer the following programs that may be beneficial:
EconDev 101: Educating Stakeholders
Local policymakers often have limited knowledge of economic development. We provide a one-day crash course to educate them about the realities of economic development in the real world.
Site Readiness: Transforming Land into Opportunities
Converting a property into a viable commercial or industrial site gives a community a significant competitive edge. We assist in documenting site control, availability, utility services, and fast-track development potential.
Marketing Makeover: Building Your Brand
Marketing plays a vital role in economic development. Effective marketing builds trust and loyalty, creating a dedicated following through consistent and compelling content. This program includes a review of your website.
Kaizen Retainer: Pursuing Continuous Improvement
We bring the principles of kaizen to economic development organizations, serving as guides, coaches, and allies over an extended period. Together, we develop a continuous improvement process to overcome obstacles and achieve goals.