May 2003, Volume: 6, Issue: e/5, ISBN 1527-5175

~~~Red Eye... 4:49 a.m. back at the airport. Coffee shop won't open until 5:00 a.m. Small, quiet crowd. Shared pain - way too early. Easy conversation opener. Second conversation, an unassuming man on his way to make a sales call in the Midwest. Turns out he owns the company and is about to release his first consumer product. The product will be co-branded with a national firm. The co-brand partner has distribution channels in place and ties with large home center stores. Center buyers have already expressed interest in the new product. Product test applications in industrial settings conducted since 1996. Unscientific consumer response positive. Current capacity at three existing facilities adequate for roll-out. In 12-18 months should know if new capacity will be required. True story from one of Eric's recent trips. Elapsed time from prospect identification to qualification: 6 min. 25 sec. Point: The prospect you are working so hard to reach through your marketing campaign could be sitting right beside you. Everyone has a story. Their story could be your business opportunity.

~~~Excellent comment... Wayne Schell, CEO of California Association of Local Economic Development (CALED), stated that ED professionals MUST validate the importance of their work especially during a downturn. Are you?

~~~Regional Creativity Scorecard... is "hot off the press" from Richard Florida's new group, Catalytix. The individual indexes (overall rank, creative class, high tech, innovation, diversity) for major areas are shown online (http://www.catalytix.biz/reg.htm). The index is based on the premise advanced in his book, "The Rise of the Creative Class" (A community's creative capacity critical for economic growth). In addition to selling detailed reports, services to help communities become more creative places are offered

~~~"The irony of management is this: In order to be a great manager, it’s not enough that you were a great salesperson. You need a different set of competencies to meet the challenges of your new role, says Dave A. Jennings, president of Business Acumen, Inc." Source: "Selling Power Sales Management Newsletter". http://www.sellingpower.com   We at Blane, Canada Ltd. recommend you seek out courses beyond the ED profession to catalyze new skills. Build new talents.

~~~"I've been in R&E for a long time... This course pushed me to view our approach in a new light." Participant in Blane, Canada Ltd.'s "Advanced Business Retention" program held in April. For the next course, go to: www.blanecanada.com/BCL_retention.html

~~~"To those who think attracting a new business to an area will save the area"... it's equivalent "to placing a band-aid over a bullet wound." Source: Jim Claybaugh, CA

~~~Best practices... are important signposts on the road of life. However, some "best practices" can easily turn into stumbling blocks if you're simply duplicating a tactic. Be an independent thinker. When incorporating "best practices" adjust them to fit your scenario.

~~~Whining... about your marketing budget being cut won't help. If you still have a budget for postage, phone, copier and Internet connection, you have marketing resources! Get creative!

~~~Take a look... www.terraserver.microsoft.com to find good quality satellite photos of your community. Source: Jay Basso, IL

~~~Predicting the future... A "surprise-free" future is a vote for continuity. A "surprise-focused" future is recognition of the discontinuity of change. The greatest impact of this in economic development is infrastructure. Hundreds of communities are banking on a surprise-free future which means they are investing in infrastructure for yesterday's business needs. Are you preparing your community for the past or the future?

~~~Nanotechnology... derived from the Greek word for one-billionth, in the current vernacular means making devices work on the scale of a billionth of a meter!!!  In 2001 over 30 countries had research programs in nanotechnology. In the 2004 federal budget $847 million is designated for the National Nanotechnology Initiative. The concept is used in tennis rackets, mini van running boards, cosmetics, food packaging, and bacteria-killing particles. Thought it was just a sci-fi concept? Source: Christian Science Monitor, 3/24/03. (Do we sense an emerging trend in ED of targeting "nano" companies?)

~~~Share... a subscription to Hoovers.com? You bet. Hoovers.com is a great resource for quick research on a company. Pick up company insider info while on the phone with a suspect. Too expensive? Bring the cost down by sharing a subscription. Hoover's allows up to 5 people to cooperate on a subscription. Hoover's Pro subscription for $33/mo. each instead of $166 ($1,995/yr.). Want more company info - five users on Pro Plus is $999 each $84/mo. ($4,995/yr.) Hoover's Pro is adequate for many users. For group subscription info, contact Steve Looney (slooney@hoovers.com, 512/380-4784) or sign up online at http://www.hoovers.com.  Source: SpeakerNet News 3/28/2003, Janet Lapp, http://www.SpeakerNetNews.com/

~~~Catch 22... When using presentation software for a prospect presentation, do you read each bullet or just describe the meaning behind each bullet point? If we assume they can read and our job is to underscore the point and provide detail, then they will read. If they are reading, they are not listening and many of our points are lost. Is your message heard?

~~~Reverse type... A PowerPoint projection will always be harder read than on screen due to the approximately 40% fade when projected even under the best of circumstances (good projector and dimly lit room). Reversing type over a colorful skyline/landscape backdrop (light letters on dark background) only makes it worse for the audience. Drop the font size below 16 points and clarity drops even further. Best rule, don't use dark backgrounds or reverse type.

~~~"Change... is a chain reaction. The only debate is about where to start!" Don't get hung up on the debate - just start!   Quote: Anon

~~~"I am exceptionally impressed!"..."I've been making R&E visitations for 10 years. The process is fundamentally flawed. Your articles are excellent ("Locked in the Twilight Zone," "Missing Link," etc.). They are right on target. It is about strategic information." GA  Articles: http://www.blanecanada.com/frameset_free.html  Synchronist System: http://www.Synchronist.com 

~~~Lee Iacocca's warning about intersections: "If you're standing still, you'll get run over!"

~~~Paralysis by analysis... a reluctance to act brought on by the possibility time and/or money could be wasted. In this situation, even a simple plan is better than no plan at all! A plan won't guarantee success, but without a plan it is easy to execute in circles. "The Physics of Marketing" and "Marketer's Planning Guide" http://www.blanecanada.com/frameset_books2.html

~~~ Emerging Technology magazine (Winter 2002/2003) had an article on "The Frugal Guerilla," high energy, but FREE marketing, highlighted in forthcoming book: "Guerilla Marketing for Free," by Jay Conrad Levinson. Among his top 20 guerrilla tactics of  interest: "Elevator Pitch:  If you had a mere ten seconds to tell what you do for a living, what would you say to make them want to learn more about you? The answer is your elevator pitch." "Service: the only definition of service that makes sense these days is that it's anything the customer wants it to be and not what you have been doing in the past.  Be clear on that." Thanks, Jennifer Meybaum, OH

~~~Asking questions of a speaker... Getting an active Q&A is the real rarity! Always wondered if it's the result of the "fear factor?"...what if the answer already was covered while I was daydreaming? What if it's a stupid question? What if I sound stupid? I know all these people & I'm not asking a question everyone else probably knows the answer to... How many attendees haven't thought one or more of those during the awkward silence when the speaker or moderator asks for questions? Try this. Five minutes before a session starts, tell attendees to write down the one important question they want answered during this session. Personally collect them before speaking. Someone with you or familiar with your comments can filter them while you're speaking & give you the ones you didn't answer in your remarks. Others can still ask questions not already covered. Source: Barb Bartos, MI 

~~~"No manufacturing plant manager worth their salt would consider purchasing new factory equipment without working through the numbers on what kind of return they could expect on their investment. Why then do sales managers expect to pull the proverbial "magical results bunny" ... making your sales management decisions based on prediction rather than hope. Source: Stu Schmidt,  COO,  Market-Partners Inc, in 4/4/03 issue of "Sales Effectiveness Newsletter"

~~~ROI... One of the toughest challenges in economic development is demonstrating Return on Investment (ROI) to investors - public and private. How do you demonstrate ROI? Write us. We will compile and share. nblane@blanecanada.com

~~~Understanding what you don't know is the key... to successful marketing. Once a person understands and acknowledges that, it becomes easy to acquire the needed knowledge through people, partners or consultants. Now, you can do anything.

~~~Squirt guns... we presented this idea years ago and it is still relevant. When holding a group brain storming session, place squirts gun(s), loaded of course, in the center of each table. If someone is attacking rather than contributing, give participants "permission" to refresh their thinking. Unleash the power!

~~~ "Thanks again... for a very good seminar (Physics of Marketing: Marketing and Sales in Economic Development). I brought back many useful items. Equally important is the fact that I do not normally enjoy attending seminars. I enjoyed yours immensely." David, VA

~~~ "I'm very sensitive... on how I spend my time and those 3 days (Advanced Business Retention: Beyond the Basics) were the best value of my time in a long time." Greg, GA

Blane, Canada Ltd.
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