A Taxonomy of Business Retention and Expansion Visitation Strategies

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A Taxonomy of Business Retention and Expansion
Visitation Strategies
Scott Loveridge, January 2002
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Introduction

• What are the different styles of BRE visitation
  strategies?
• What are advantages and disadvantages of each
  style?
• What are potential roles for ED AoE agents?

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Organization

• Lone Ranger BRE.
• Mail Order BRE.
• Counselor BRE.
• Volunteer Visitor BRE.
• Conclusions.

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Why BRE Visitation?

• Lots of BRE strategies--focus here on alternative
  ways developing information for action.

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Why Think About This?

• Basic framework for understanding range of
  potential ED AoE efforts.
• Help agents determine which style--if any--best
  fits their economic and institutional situation.

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Lone Ranger

• Oldest and most popular form of BREV.
• Strategy full time professional visits biz in
  service area. Solves problems.
• Advantages Quick solutions (often same day.)
  High visibility for visitor w/biz.

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Lone Ranger continued

• Disadvantages Small fixes--tends to ignore
  community-wide issues. Small base of support for
  actions. Limited number of firms contacted.
• Potential ED Agent Roles 1) Visitor. 2)
  Visitors Board Member. 3) Connect biz to
  visitor.

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Mail Order BRE Visitation

• Frequently used.
• Strategy Mail or fax short survey to management
  to identify at risk companies.
• Advantages Quick. Provides snap shot of
  broader community issues.

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Mail Order BRE Visitation continued...

• Disadvantages Survey may annoy biz. Responses
  may be cryptic. Agency visibility with biz is
  low. Limited community buy-in for actions to
  address problems. Response to individual issues
  may be slow.
• Potential ED AoE Agent Roles 1) Survey design or
  analysis. 2) Facilitate community responses to
  overall results.

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Counselor BRE Visitation

• Rarely used.
• Strategy Hire outsider to canvass biz and make
  recommendations.
• Advantages Quick. Some biz problems may be
  solved quickly. Provides community overview
  outside perspective.

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Counselor BRE Visitation continued...

• Disadvantages Cost. Risk no community network or
  capacity building. Trust issues b/w biz
  consultant, and community consultant.
• Potential ED Agent Roles 1) Identify consultant.
  2) Find funds for consultant. 3) Facilitate
  interpretation of findings action steps.

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Volunteer Visitor BRE

• Not frequently used.
• Strategy Use community volunteers for visits.
  Distribute one-on-one follow-up. Community
  dialog on overall actions.

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Volunteer Visitor BRE continued...

• Advantages Combines troubleshooting with overall
  community assessment action plans. Builds
  community support for actions sponsor. Low
  cost. High response rate from biz.
• Disadvantages Requires strong community
  organizing skills. Long gestation period.

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Volunteer Visitor BRE continued...

• Potential ED Agent roles 1) Educate leaders
  about approach. 2) Coordinate program. 3) Serve
  on leadership team. 4) Facilitate action
  planning step.

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Conclusions

• Many options for BRE Visitation program.
• We need to educate people about these options
  determine how AoE can support them.