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Entrepreneur Led Development Pathways to Community Prosperity 2019 NREDA Conference – Kansas City November 7, 2019
Entrepreneur Led DevelopmentPathways to Community Prosperity
2019 NREDA Conference – Kansas City
November 7, 2019
Part 1Community
ProsperityFramework
Why is Prosperity Important?
The Prosperity End Game
Three Essentials for Prosperity
People - Demographic Renewal
Every community must renew itself demographically to survive, let alone thrive.
Place - Quality of Life PlacemakingEvery community must optimize placemaking and offer competitive quality of life amenities.
Economy - Opportunity & DiversityEvery community must create economic opportunities for their residents that enable them to make a living and pursue their dreams.
Relevant & Competitive Economy
An economy exists to…
• Basic Needs… Food, Shelter, etc.
• Work… Meaningful and creative work developing the human spirit…
• Security & Choice…
• Life’s Dreams… Have children, travel, art…
Community Prosperity Model
Increased Entrepreneurial
Behavior
Increased Competitiveness
Increased Value-Added
Increased Resilience
Increased Prosperity
Community Development PhilanthropyOpportunity for…
Broadening Diversification
Part 2Entrepreneur-Led
Development
It’s YOU!Community Economic
Development
America is Unique
Local Responsibility
Generational Vision
Past FutureNow
Agriculture
Trade Center
Manufacturing
Entrepreneurs
Boomers
Commuters
SpendingCapture
Tourism?Transportation Corridors?Energy?
Drivers of Community Prosperity
Development
Economy
Community
People
Economic Development
Attraction
Business Retention & Expansion
Entrepreneurship
Entrepreneurs! A Creative TalentBusiness – Social – Civic
Innovation-RootedEnrich Economies
Diversify EconomiesContribute to Quality of Life
Attract Talent
Dutch Bros Coffee
Can you help Jim & Beth?Jim JenkinsCallaway, Nebraska3rd Generation RancherMoved Away, Came Back HomeEntrepreneur
Beth StrubeDickinson, North DakotaStayed at HomeWanted to be a MomEntrepreneur
The Entrepreneurial Pipeline
No ActionFailure
Necessity Lifestyle
Survival/Struggling
Tire Kickers/Pre-Venture
Consumer resources; no impact
Consumer resources; low impact
Basic / secondary markets; low impact
Primarily basicmarkets; low impact
Large-scale impact
Opportunity Breakout High-Growth
Secondary Economy…
Essential Ventures
Amenity Ventures
Base Economy…
Growth Oriented
Growth
Breakout Growth
Five Kinds of Entrepreneurs
Andy Stoll – Kauffman Foundation
“Entrepreneurial talent is universal.
Entrepreneurial ecosystems are not?”
Growing entrepreneurs and entrepreneurial communities is more than programs, it requires evolving a smart ecosystem that stimulates, supports and grows entrepreneurial behavior.
EntrepreneurialTalent
Framework, Process and Mechanism that
Effectively and Efficiently Connects Entrepreneurs with Needs to Resources
that can Help
ImpactEntrepreneurial
& Business Development
MetricsData & Stories
Coordinator
Host Organization – Stakeholder PartnersExternal Resource Network
Area Resource NetworkE Team
Identification, Targeting & OutreachTracking & Portfolio Management
Intake & Screening Referral
EntrepreneurCoaching
ClientsMeet Targeting
Want Help We Have Help
AssistanceValuable
Real TimeRight Cost
Right Fit
SustainabilityGrowth
Potential
FundingSupport
Relevant E ResourcesCoaching Market Research
Counseling Capital AccessMentoring Human TalentNetworks Infrastructure
Community
Ord, NebraskaFrom Disinvestment to Investment
Thank you!e2 Entrepreneurial Ecosystems
www.energizingentrepreneurs.org
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