Mission vs. Vision

There is usually a lot of confusion between mission and vision statements. Many hours are spent debating the differences between mission and vision. In short,  mission statements are the main objectives of an organization, and vision statements are the long-term goals envisioned for the organization’s growth.

A mission statement speaks to what the company is now. It concentrates on the present, is short-termed and informs the organization’s desired level of performance.

A vision statement outlines what a company wants to be. It concentrates on the future and is long-termed. It is meant to inspire and challenge, as well as to provide clear decision-making criteria.

An effective mission statement should address the following:

• Purpose and values of the organization
• Who are the organization’s primary clients?
• What are the responsibilities of the organization towards these clients?
• What are the main goals and objectives that support the organization in accomplishing its mission?

An effective vision statement should:

• Be clear and unambiguous
• Provide a clear snapshot of the organization’ future
• Be inspirational and provide hope
• Be memorable
• Align with organizational values and culture

Seven Keys to Stronger Community

Scott Doyon, a partner with Place Makers, recently posted Seven Keys to Stronger Community as a response to the question: “Where do we start?” This is not an exhaustive list, and he actually encourages readers to make suggestions for expanding,and they have. There is a good diaolgue in the comments section of his post. He states, “If you are looking to bulk up the strength of your community, especially in these times of limited resources, these are the areas that provide the greatest returns.”

1.  Good governance

2.  Walkable, connected, mixed-use character

3.  Parks and gardens

4.  Partnerships

5.  Programming

6.  Neighborhood-responsive schools

7.  Tree culture

Photo: Believe in Bristol

Kain Benfield’s wrote an article analyzing Doyon’s seven points. He said, “Scott has given us a good list. Mark Holland’s eight pillars of a sustainable community would add a healthy food system and economic development to the list.”

Does all this sound familiar? There is significant overlap with the Main Street approach and its guiding principles. These are proven concepts for building and maintaining strong communities. Thinking of your community, its strengths, opportunities, weaknesses and threats, what would you add to this list?

The Strategic Planning Process

Strategic Planning generally refers to the systematic process where an organization envisions its future direction by analyzing its current position and then developing a set of goals or objectives and an action plan to achieve them. Strategic Planning models vary greatly depending on the type of organization and the expected results of the planning process. The strength of this process lies in the flexibility of the plan and its ability to act in response to unforeseen factors and new opportunities.

Guidestar has published an article written by Bill Hoffman of Bill Hoffman and Associates, LLC outlining a four-step strategic planning process:

1.       Get input from major stakeholders. Try to be as inclusive as possible in order to get a variety of ideas and recommendations.  The article recommends using the classic SWOT analysis (strengths, weaknesses, opportunities and threats) to gather information. Recently, there has been a preference by some groups for using a SOAR analysis (strengths, opportunities, aspirations and results). Again this will depend on the type of organization and the expected outcomes.

SWOT Analysis

2.       Uncover themes. There will be some overlap in ideas, so try to blend these into common themes in order to concentrate on the big picture.  Competing themes will arise “…and that’s all right. This is not the time to decide which ideas to follow through on; it’s just to clarify the ideas that have been offered.”

3.        Agree on priorities. Not every idea can be implemented. Keep the focus “narrow enough to be successful.” Limit the plan to four to six focus areas for the next couple of years.

4.       Set measurable goals. This is important as it will allow the organization to track its progress. Keep in mind that the board and staff will have tasks for reaching the goals. Also, be sure to have deadlines for each goal.

This is a simple, yet powerful process that will give an organization’s board, staff and volunteers a sense of ownership and increase their commitment since they have been involved throughout the entire process.

Try it out!

Gentlemen of the Road stopover in Bristol

Bristol, TN/VA is a unique place.  “Two States; One State of Mind” is their motto, but navigating two sets of  building regulations, garbage pickups, tax codes and general government type operations can get a bit confusing.

Famous Bristol Sign Across State Street

However, Christina Blevins, executive director of Believe in Bristol, Bristol’s Main Street organization, bridges the gaps everyday in a positive, energetic and infectious manner.

Her coalition’s building skills recently paid off when Mumford & Sons were looking at communities  in which to hold their traveling Gentlemen of the Road music festival.

Already known worldwide for the Rhythm & Roots Reunion and as the Birthplace of Country Music, Bristol had an inate attraction for the band.  However, the ability to coordinate the many moving parts that an all day outdoor festival requires, in addition to the evenings music selections across the street (and consequently across the state line), Bristol cinched the deal.

Already, Bristol is getting tons of press about this event, but the real lesson is to be prepared when opportunity knocks.  Keep building relationships, offer value to all of your partners, understand the needs of your stakeholders, offer assistance without reservation and become indespensible.

Read more about the festival here, here, here, here and here.  Discounted tickets are on sale June 1.

Entrepreneurs. Better with age?

Entrepreneurs are the lifeblood of the economy. They’re innovators, experimenters and risk takers, the driving force behind capitalism’s “perennial gale of creative destruction,” in economist Joseph Schumpeter’s evocative metaphor.

So says Chris Farrell in this week’s Bloomberg Businessweek.

But Mr. Farrell goes on to remind us that entrepreneurs are not only young, brash, rule breakers.  They also include older, more seasoned innovators.  Fully 20.9% of all new entrepreneurial ventures are started by people 55-64 years old.

These entrepreneurs may be forming enterprises because they finally have the security to follow their dream, or maybe they were laid off and found finding a new, challenging job toward the end of their career arc to be difficult.  Others may be looking for a little more control of their work-life balance as they make a 20- or 30-year transition to retirement.

Regardless of their reasons, there businesses may be well suited to the scale of your downtown.

Well-wired Winchester is as close to Dulles Airport, in terms of travel time, as downtown D.C. and is better hooked into the Ashburn “home” of the Internet than almost any place in the world.  A transitioning entrepreneur might find the housing, rent and tax rates beneficial, while cherishing the more relaxed lifestyle that a pedestrian-oriented comercial district, closely abutted by historic residential neighborhoods, can provide.

USAToday printed a similar article last month, and Slate published one as far back as 2010, detailing reasons why older entrepreneurs may be more successful, not the least of which is access to capital.

Farrell, too, gives several reasons that older entrepreneurs may have a leg up on their younger competition, but a successful community could use both.  Making sure you are providing the necessary tools and amenities for all entrepreneurs is vital.

Resources for Small Business Financing

The Federal Reserve Bank of Richmond (FRB) recently posted an issue of Marketwise Community, a web publication which highlights community development best practices  and emerging issues that impact communities in the southeastern United States.  The current issue, New Alternatives in Small Business Financing, addresses small business lending in the wake of the recession.  The message – banks started to loosen some lending standards in mid-2010, a year after the recession ended, but loans remain hard to get by historic standards.  The good news is that there are some loan products available to businesses in need of working capital.

The Small Business Administration (SBA), a federal agency mandated to increase small business access to credit, refers to three types of nontraditional lending partners along with the examples of the credit products they offer to small businesses.  Loans range from $5,000 to $35,000 and can be used to pay short-term debt obligations, free up cash flow to purchase inventory, or provide capital for start-ups. 

Small businesses need to be the ones to determine what alternative business sources best match their financial state and funding needs, but Main Street programs can play a critical role to help direct the business owners to the available resources by highlighting them through an e-blast, blog, or an office binder.  Consider including the information from this SBA article: Five Critical Steps to Securing Small Business Capital.  

As effective partners, both the FRB and SBA provide support systems and tools. You can play a big part in connecting your businesses to these available resources to ensure  that your district is performing to its full economic potential.

 

New Year’s Resolution Poll

While the typical New Year’s resolution is abandoned somewhere around the long Martin Luther King, Jr. holiday weekend, there is a certain feeling of “anything’s possible” in the air during these first few weeks of January.  Now really can be a good time to set some goals.  Go ahead, think big.  If you don’t stretch yourself to do more, why bother?

Take a few pointers from weight-loss experts and put these strategies to work in your downtown to make your resolutions a reality:

Write it down – Make sure your goals are clear and quantitative.  Write them down so you can track your success.  It also makes it more real when you can see it on paper, or better yet, chart it on a graph.

Tell a friend – Make sure people know what you are going to do.  They can hold you accountable and keep you on track. They may even offer to help!

Make it reasonable – As it didn’t take two weeks to pack on an extra 25 lbs, the historic facades in your district weren’t all covered over in a matter of a few months.  Go ahead and challenge yourself, but don’t expect to have a completely rehabbed, fully occupied downtown by June, either. 

Pace yourself – As we age, it seems the years fly by, but in reality a year is a long time.  Break out your big goals into some chunks so you can have incremental success along the way.

Now, take the first VMS poll of the new year.

Be a Culpeper Local

Culpeper, Virginia just received some good press after it unleashed its new shop local campaign, Be a Culpeper Local.  The campaign combines educating the nearly 50,000 Culpeper County residents on the value of buying locally with a website, beaculpeperlocal.com that directs visitors to local shopping and dining options, specials, and a way to track how much of your state sales tax is being returned to local Culpeper general funds and school coffers.

This fiscal year, 2010–11, the County general fund expects to receive $4.5 million (part of which is allocated to the Town), and the school expects to receive $6.4 million. All these millions are from us spending our dollars in Culpeper County!

It may not need saying, but this same math works for every community in Virginia, from Abingdon to Winchester and everyone in between.  This is but one of many ways to  jumpstart a shop local campaign.  If you need more reasons to value shopping local, you can visit this page.

For more information on shop local campaigns and the value of shopping local, peruse our training archives page, visit the Business Alliance for Local Living Economies website or get in contact with the Virginia Main Street staff.

Designing a Marketplace

Is your economic restructuring committee effective?  Challenges like recruiting businesses and interpreting expensive and technical market studies discourage eager volunteers. There’s no immediate result after hours of meetings and planning.  Pressure to see results from business owners, local government and the community compounds the frustration. It’s easy for this committee, in particular, to go inactive.

Main Street organizations all over America have faced this challenge, and many are beating it–by creating compelling and specific visions for their downtown marketplace.  To illustrate the best strategies Todd Barman, Program Officer for the National Trust Main Street Center (NTMSC), features Altavista, a Virginia Main Street designated community, in a recent issue of Main Street Now. 

Barman says “It will take a concrete and compelling vision of a fully functioning future marketplace to attract the entrepreneurs and investors who will eventually realize [their] vision.”   What works for Main Street communities is similar to the strategy of successful commercial developers that are good at communicating their development vision using verbal descriptions, architectural renderings, and diagrams/schematics.  Along with this are specific steps for filling vacancies in historic commercial districts.

“The NTMSC is working to empower Main Street programs to use similar tools to attain similar results.”

Check out the details in the Main Street at Work column of the July/August 2010 issue of Main Street Now, The Journal of The National Trust Main Street Center.

Downtown leaders cover Main Street Essentials at Abingdon training

On Sep. 22 and 23, Advance Abingdon hosted 70 downtown revitalization professionals and volunteers from across Virginia for a training and knowledge share of best practices in the organization and promotion of downtown revitalization efforts.

National Trust Main Street Center Senior Program Officer Kathy LaPlante, a nationally recognized expert on community based downtown revitalization, presented specific strategies for organizing local efforts and promoting local businesses in downtown districts. “Communities across the country are working toward creating vibrant, one-of-a-kind downtown districts,” said LaPlante. “We develop and share best practices, such as how to effectively recruit and use volunteers, and how to fund revitalization efforts.”

Other more specific strategies discussed at the session promote the assets unique to each place. For instance a festival that draws people to a downtown in Virginia will be different from one in Wisconsin. “The overall guide to promoting your district,” said LaPlante, “is to be true in character to who you are as a community. No one size fits all.”

In addition to hearing from LaPlante, representatives of local governments, nonprofit organizations, and businesses shared the latest efforts of their home communities with others from around the commonwealth.

Sponsors for the event helped provide a warm welcome and included Michael’s Pharmacy, Mac’s Medical Equipment, Home Nursing Service of Southwest Virginia, Highlands Union Bank, The Office Place, and the Town of Abingdon. Participants took trolley tours, ate a dinner at the Farmer’s Market, attended a reception at A Tailor’s Lodging, and enjoyed lunch on the town.

Virginia Main Street trainings are open to anyone interested in downtown revitalization, and all PowerPoint presentations and notes from the group discussions are available at the Virginia Main Street training archive.