A book that should be in the library of any modern economic development practitioner is Investing In Entrepreneurs. The authors detail a way to move economic development forward, in any community, via analysis and proactive engagement.
From the book’s synopsis: “The Pipeline refocuses economic development strategies to assist entrepreneurs and entrepreneurship in a highly targeted, systemic, and systematic way. The knowledge or understanding generated by this map will enable the field of economic development to advance from being tool-driven to being client-centered. Two key variables make up the Pipeline: entrepreneurial skills and business life cycle stages. The skill ladder represents the vertical dimension and sorts entrepreneurs into five skill levels: Rookies, Single As, Double As, Triple As, and Major Leaguers. The life cycle stages represent the horizontal dimension and sort enterprises into six phases: PreVenture, Existence, Early Growth, Expansion, Maturity, and Decline. Entrepreneurs at each skill level think and behave differently from those at other levels. Each higher skill level represents a greater ability than the level below it. These differences are qualitative and significant, not incremental in nature. Movement from one skill level to another requires a transformation in the abilities of the entrepreneur—a fundamental and discontinuous change. The best way to facilitate skill building in entrepreneurs is through coaching.
If you find this objective, data driven approach to building your business attractive please contact us in Middlebury, Vermont. We understand entrepreneurship and we value wealth creation – both individually and on behalf of our community.