ERC Business Plan

Overview of Business Plan Process

Board Strategic Planning Session February 6 at NCCA

• Overview of Economic Development 2.0• Strengths/Weaknesses• Local Business Taxonomy Exercise• Scoresheet Inputs

4

JOBS

IMPA

CT

WEALTH OR PROSPERITY IMPACT

Micro-Enterprise

Small Business Serving Local

Market

Organic GrowthLifestyle Middle

Market

Investment Backed …Becomes

Lifestyle Company

Middle Market Business

Seeking Growth or Liquidity

Venture Backed on Exit Path

Major Corp. with Division in

Your Community

“Tweener” Small Business

Local IconHQ Company

Understanding the Local Business Taxonomy

Economic Development 2.0: The Local Economic Pie Theory

Local “Economic Pie” The “Economic Pie” when Businesses Compete for the Same Local Market

Local “Economic Pie”The “Economic Pie” when Local Innovative companies Sell products into National and Global Markets

Impact of the Innovation Model

• Activities Since the Planning Session Tabulate data from session Gap Analysis (biggest gaps between importance and capacity) Compile data into sections of the “draft” report Vision, Goals and Objectives 3 Initiatives Listing of growth companies identified in the planning process Develop proposed Annual Work Plan (and Calendar) Present concepts informally to various constituencies Modifications based on inputs Preliminary reaction very positive Unanimous approval by ERC Executive Committee on Feb 27

Results of the Local Business Taxonomy ExerciseAJA Video Ferguson Supplies Plan It Solar

Ananda Fifty Fifty Brewing Co. R. E. McCollum Construction, Inc.

Applied Technology Flour Garden RCD Engineering, Inc.

Ayurveda College Friar Tuck Restaurant Rare Earth Landscape Materials

AutoMetrics General Dynamics Riebes Auto Parts

Beam Easy Living Center Gray Electric Rincon del Rio

Benchmark Thermal High Sierra Music Festival Robinson Enterprises

Best Trailer, Inc Hills Flat Lumber Co. Share Point

Bio Tech Calendar Holbrooke Hotel Sierra Cinemas

Boga Paddle Boards Holdredge & Kull Sierra Nevada Memorial Hospital

Briar Patch Co-op Huntington Mechanical Labs. Sierra WoodsByers Leafguard Gutter Systems Lazy Dog Ice Cream Smart Light Systems

California Organics Linear Technologies South Yuba Club

Caroline’s Coffee Roasters Litton Engineering Labs SPD Market

Cedar House Sport Hotel Maier Manufacturing Spiral Internet

Center For The Arts Micro Precision Calibration SYRCL Film Festival

Clear Capital Miners’ Foundry Tahoe National Forest

Cranmer Engineering, Inc. Mini Mania, Inc. Telestream

DeMartini RV Sales Miranda Three Forks Brewery and Bakery

Chris’ Collision Repair Miwall Corp. Tour of Nevada City

Dignity Health National Semiconductor Corp. Tri Continent Scientific, Inc.

Electronic Carbide Nevada City Winery Tri-counties Bank

Ensemble Designs Nevada Irrigation District Truckee Sourdough

Eskaton Senior Retirement O’ Republic Brewery Vulcan Materials Company

Featherlite Trailers Peaceful Valley Farm & Garden Supply

XP Camper Z.A.P. Manufacturing, Inc.

Thoughts That Are Relevant To Success

TENETS FOR SUCCESSFUL EVENTS Never do an event just to do an event! Events should maximize revenue/profitability while also having

a meaningful positive impact for members and other key constituencies

Should provide reason for CEOs and other top line influencers to participate (or otherwise they will stay on the sidelines)

Each event should create at least 4 different revenue streams Orchestrate event agenda to build and grow the ERC

“stakeholder community” Two Annual “Book End” Events are proposed

Networking

Panel Discussion

“Expo”

2 Annual Book-End Events

Initiative #1 – Nevada County’s “Fab 5” (Phase 1)

5 Highly potential existing or new Nevada County businesses receive organization-wide intensive support

Milestone based business objective serves as impetus for ERC involvement

Like a “12th man” concept except for business instead of football!!

Collectively up to 1,000 hours in a year across 5 ERC portfolio companies

Committee needed to develop final criteria and process

Initiative #2 – Nevada County’s “Royal Welcome” (Phase 2)

Quarterly “Red Carpet” tours provided to a growth-oriented business being targeted for relocation to Nevada County

Outreach to specific companies based on their alignment with Nevada County’s attributes

Highly targeted research process to determine most likely candidates

Business must have demonstrated potential to bring or grow jobs in Nevada County, and not directly compete with an existing Nevada County employer

Committee needed to develop final criteria and process

Initiative #3 – Nevada County’s “Golden Challenge” (Phase 3) Ten businesses vie each year for a substantial prize

comprised of cash, gifts, and free services One requirement-the business most move its start-up

or existing business to Nevada County The company’s compete not just on their business

plan, but why they are a great fit for Nevada County Put’s Nevada County on the “economic development

map” with something that is meaningfully unique and compelling and can generate substantial statewide, national and even global attention

2-year cycle for competition; year 1 build community support throughout Nevada County; year 2 conduct the competition and award the prize

Committee needed to develop final criteria and process

That’s a Wrap!!!