I was fortunate to participate in the National Development Council’s Economic Development Finance Professional (EDFP) program several years ago. One of the many lessons associated with credit analysis, real estate financing and structuring deals focused on their “Problem Solving Process” – a 6 step exercise focused on bringing definition to success within economic development. The following reiteration of their steps may serve anyone attempting to find a solution within their business or their community. If you are currently an entrepreneur facing a specific business issue that requires immediate attention this will work for you too.
Step 1 – Define the Problem(s).
Step 2 – Define the State of Being Fixed.
Step 3 – Identify the Existing and Potential Players.
Step 4 – Formulate Possible Solutions.
Step 5 – Build Consensus Among All Players.
Step 6 – Implement a Solution.
Here in Middlebury, Vermont, we can help you work through this process from a financial perspective or a political perspective or a human perspective. We understand the dynamics inherent in starting and operating a business and we have the tools to bring a degree of efficiency to the process.