Regional
Entrepreneurial Session
An Opportunity to Assess and Build Capacity to Enhance
Business Development in Monona, Plymouth, Woodbury
Counties (Region III)
Facilitators:
Drew Conrad, CEcD
James Hoelscher
Rob Williams
This project is made possible by UNI Business & Community
Services and the U.S. Department of Commerce Economic
Development Administration.
Purpose: To set the strategic
direction and framework of the
Regional Entrepreneurial
Development Plan
Agenda
I.
II.
III.
IV.
V.
VI.
Introductions & Overview
Reviewing the Stakeholder Educational Session
Identifying Current Initiatives & Potential Gaps
Creating the Desired Future for Regional
Entrepreneurship
Developing Major Goals / Initiatives
Summary & Identifying Next Steps
Benefits of Planning
 Establishes a broad base of support for shared
goals and specific actions
 Gives credibility and communicates well what the
community’s goals are
 Aids in identifying and targeting resources
 Helps organizations move in compatible directions,
not alone
Proposed Operating
Principles:
 We will keep it informal, yet structured, and start on time
 We will encourage maximum participation, being open / candid
here in the session
 We will listen and not dominate
 We will remain constructive
 We will focus on and commit to the greater good
 We will “be present while we are here” (turning off cell phones)
 We will take silence to mean affirmation or informed consent
 We will trust the process
 We will be specific and use examples to avoid unintended
misunderstandings
 We will operate with consensus, as defined below
Definition of Consensus
 All participants have an opportunity to give input,
exercised or not
 Participants’ ideas have been acknowledged by the
group and each person feels they have been “heard”
 Participants indicate that they can live with the outcome
of the process; they will not speak negatively or work
against the outcome, since the process has been fair
 Participants accept that consensus is not necessarily
unanimous agreement
Planning Team
Formation
Planning Session 1 –
February 5 2015
Session Outcomes:
 Identifying Gaps
 Creating a Vision for the
Future
 Goal Setting
Planning Session 2
– March 27, 2015 9:00am-1:00pm
Plymouth County
Indicators/Measures of Success
Session Outcomes:
 Validating Goals
 Determining Timelines
 Assigning Responsibility
Planning Session 3
– April 29, 2015 9:00am-1:00pm
Moville Area Community Center
Indicators/Measures of Success
Session Outcomes:
 Validating the Draft Plan
 Organizing for the Adoption &
Endorsement Process
Moving Forward – May – July 2015
Activities:
 Planning team organizes for the adoption and
endorsement process and monitoring implementation
progress
 Planning team determines any changes in the plan based
on the adoption and endorsement process
Unveiling of Plan & Organizing
for Implementation
Activities:
 Unveiling the plan and keeping the plan “alive”
with the initiation of a regionally-based
implementation and monitoring team
 Attend the plan unveiling and provide comments
regarding the process
What We Need to Keep in Mind
Throughout the Planning Process…
Trends
What is Our Shared
Understanding of
“Entrepreneurship”?
Can Include:
 Ownership and operation of existing smaller businesses
in all industries
 Starting new businesses
 Growing, thriving and struggling operations
 Agriculture to Astronauts, Retail to Manufacturing
 Prospective or potential business owners – youth to
retirees
Entrepreneur (person), Entrepreneurship (verb) and
Entrepreneurial (mindset)
Types of Entrepreneurs
Each is Unique…
 Micro-Enterprise
 Small Business
 Innovator
 Venture Company
Needs of Entrepreneurs
 Supportive Culture
 Business/Technical Assistance
 Networks
 Capital
Micro Enterprises
Driver: Passion
Capital
Networking
•
<$35,000 Microloans
with flex terms
Grants
•
Peer micro enterprise
•
networking opportunities •
(Expos, Associations)
$50,000 to $500,000
commercial financing
SBA and commercial
lenders target client
•
Professional networking
opportunities (Chamber,
City Council)
Equity and Angel
Investment
Too risky for commercial
lending organizations
•
Venture Capital funding
of $500,000+, some late
stage Angel
•
•
Small Business
Driver: Normal Profits
•
•
Innovator
Driver: Opportunity
•
•
Venture Company
Driver: Growth
•
Technical Assistance
•
•
•
Mentoring (SCORE)
Peer advice groups
Specialized Business
Assistance (SBDC target
client)
Quick Books, or other
highly relevant
classes/workshops
Intimate 1:1 contacts
with well connected
community leaders
With peer innovators
•
Surround with potential
management teams
Critical introductions to
top industry experts and
resources
•
Research institutions,
and/or highly specialized
academic centers
State agencies (Venture
Net, Iowa Economic
Development Authority)
•
Identifying Current Initiatives
and Potential Gaps
Identifying Current Initiatives
and Potential Gaps
In your opinion, what are the most significant
accomplishments in entrepreneurial development in your
area over the past several years?
What initiatives are currently underway in the 3 county
region?
What gaps exist in entrepreneurial development in the
region? 4-Feb-15
Creating a Shared Vision
for Regional Entrepreneural
Development
Do You Have a Shared Vision for
Regional Entrepreneurship?
There’s a vision but
No shared vision and no unsupported; lots of unshared
coordinated priorities or priorities and several action
plans; little alignment with
action plans
vision
0-------1-------2
3-- -----4--- ----5
Shared vision supported by
the citizens and community
organizations with shared,
coordinated priorities and
accepted responsibilities
6-- -- ---7--- ----8
Creating 2020
Put yourself out into the future (5 years) and
assume some really good additional
entrepreneurial development initiatives have
happened in your 3 county region…
As a result of your planning work and the followup implementation, what kind of entrepreneurial
development initiatives/projects/programs exist
in the future?
Developing Major Goals that
will Get us to Our Vision
2020 Vision Element: To be
nationally recognized as a leading
rural community for female
entrepreneurs.
Goal: To create a Female Entrepreneur of
the Year award by June 2016.
Goal: To sponsor the first Technology
Summit for female business owners by
January 2017
Developing Major Goals
Based on the desired projects/programs and
potential gaps, what entrepreneurial development
initiatives do you believe should be accomplished in
each of these areas:
1. Supportive Culture
2. Business/Technical Assistance
3. Networks
4. Capital
Summary & Next Steps
 Summary Report
 Next Meeting Dates
Thank You for Your Commitment!