Entrepreneur Friendly Toolkit Overview

Presented for the E.F. Task ForceKickoff Meeting

Date:

What makes a community Entrepreneur Friendly?

Pro-business culture with long-term strategiesSupportive, attractive to entrepreneursStrong networks and business planning resourcesGov’t compliance is efficient, clearly explainedHelps navigate local and area capital sourcesMarkets to business prospectsPromotes local business success stories and

Business-Government communicationBusiness resource information is organized,

readily available

How will the EF Toolkit help?A local public-private Task Force will produce:A 7-step strategic plan called the “Entrepreneur Friendly

Action Plan” (long-term goals and strategies)Short Term:

A local Business Assistance GuideA Small Business Resource Fair (ideally an annual

event)A local/area “Capital Matrix”A local 12-Month Business Start-Up TimelineA local business survey on challenges, opportunitiesA SWOT Analysis on the local business environmentLocal Demographic and Market Data for prospects

The Process: 1 Full Task Force with 3 Subcommittees work on 4 Concurrent ProjectsMonth 1 Month 2 Month 3 Month 4 Month 5

Month 6 Month 7

7-Step EF Action Plan (all Task Force members)

Local Business Survey (Subcommittee, ≥ 3

members)Local Business Assistance

Guide (Subcommittee, ≥ 3 members)Local Business Resource Fair (Subcommittee, ≥ 3 members)

7 “Steps”(topics) that the full Task Force will work/plan through

The Entrepreneur Friendly Action PlanTask Force meeting for each of the 7 online

“Steps”Discussion/Activities facilitated by the ChampionA blank “Strategic Plan Table” found at the end of

each Step. Includes space for:Goal(s) for that topicSupportive Findings (justification for the goal)Objectives (measurable initiatives to meet the goal)Recommended Actions (specific tactics)Strategic Partners & Timeline

Task Force will fill in a table(s) at the end of each step

Simplified Example of an EF Strategic Plan Table

Goal #1: Revitalize Downtown

Supportive Finding: Business/Shopping activity is down

Objective: Make downtown more economically attractive for opening a business.

Recommended Action: Establish a local façade grant program as a business incentive.Strategic Partners and Timeline: Mayor/City Council, Chamber of Commerce, Downtown Property Owners. 12 Months.

Step 6: Marketing and Promotion

Strategic Plan Tables for the 7 on-line EF Steps combine to form…

The Entrepreneur Friendly Action Plan(automatically generated report at the end

of the online process)

Other Notes on the 7 Steps Task Force will not always have time to finish a

Strategic Plan Table at the end of each meeting.Champion or designated scribe will spend time

between mtgs filling in the Tables based on mtg notes.

Strategic Plan Tables will likely not be finalized until the end. This is expected.

Why? New supportive findings will be discovered throughout (including Local Biz Survey results). Goals and strategies will evolve.

There are Strategic Plan Table samples for each step found in Resources. Use them.

Why a long-term strategic plan?It provides a roadmap for continued progress

after the EF Toolkit process is completeIt provides legitimacy & leverage for future

initiativesGenerated in a public-private fashion Compiles credible supportive findings, including

a survey of local businessesDemonstrates legitimate justification in grant

applications and other efforts (e.g., National Main Street program)

Helps inform elected leadership

Local Business Survey Subcommittee (≥3 Members)First Subcommittee to start, first to finishPurpose: to gather local business feedback about the

community as a place to start/run a businessTask: create, administer, & present results to Task ForceGood Fits: analytical thinkers, at least one solid writerUsing online survey program is highly recommended

(Constant Contact, Survey Monkey, etc.)Why? It automatically gathers and compiles results;

allows easier distribution; saves time and money.Examples and Guidance available in Resources; help

available from ACOGSurvey data will provide important Supportive Findings

for the EF Action Plan

Local Business Assistance Guide Subcommittee (≥ 3 members)Task: research, write, format, & publish a local

assistance guide for prospective & existing businessesGood Fits: creative, good writers, good document

formatters, good researchersExamples and guidance available in ResourcesGood Idea: launch the Guide at the Small Biz Resource

Fair, which is the EF Task Force’s culminating eventRole of the guide is to inform plus market the

communityResources aligned during the 7 Steps provide great

content (market data, networks, compliance, etc.)Mentality: “When the prospect walks in the door, this

Guide will give them what they need.”

Local Business Resource Fair Subcommittee (≥ 3 members)Task: plan a local business support eventDesired Outcomes: Biz Resource-Connecting

& Education, B2B Networking, Local Biz Showcasing

The culminating event of EF Task ForceGood Fits: good event coordinators;

energetic, detail-oriented, media/social media savvy; knowledge of local venues, logistics, & sponsors

Good Idea: make it an annual eventGuidance and flyer examples available in

Resources

ConclusionBecoming Entrepreneur Friendly takes time and

hard work (a committed leader and task force)This process will get the community’s ducks in a

row for small biz development.The Task Force does not have to reinvent the

wheel; there are templates/samples for every task.Use this as an opportunity to bolster the economic

development foundation of the community.Make it last by continuing to meet, update

information, host events, etc., in the years to come.