๐ง๐ต๐ฒ๐ฟ๐ฒโ๐ ๐ฎ ๐๐ถ๐ฑ๐ฑ๐ฒ๐ป ๐๐ผ๐๐ ๐ผ๐ณ ๐ฉ๐ฎ๐ด๐๐ฒ ๐ข๐ฏ๐ท๐ฒ๐ฐ๐๐ถ๐๐ฒ๐.โฃ
(and it will make or break your economic development initiatives)โฃ
๐๐ฉ๐ฆ๐ฏ ๐ฑ๐ณ๐ฐ๐ซ๐ฆ๐ค๐ต๐ด ๐ง๐ข๐ช๐ญ ๐ต๐ฐ ๐ฅ๐ฆ๐ญ๐ช๐ท๐ฆ๐ณ ๐ฆ๐น๐ฑ๐ฆ๐ค๐ต๐ฆ๐ฅ ๐ช๐ฎ๐ฑ๐ข๐ค๐ต, ๐ช๐ตโ๐ด ๐ข๐ฏ ๐ช๐ฏ๐ฅ๐ช๐ค๐ข๐ต๐ช๐ฐ๐ฏ ๐ฐ๐ง ๐ข ๐ญ๐ข๐ค๐ฌ ๐ฐ๐ง ๐ค๐ญ๐ฆ๐ข๐ณ ๐ข๐ฏ๐ฅ ๐ณ๐ฆ๐ญ๐ฆ๐ท๐ข๐ฏ๐ต ๐ฐ๐ฃ๐ซ๐ฆ๐ค๐ต๐ช๐ท๐ฆ๐ด.โฃ
โ Simply having a “mission statement” doesn’t tell the full story.
โ A project’s ultimate impact (or lack thereof) does.โฃ
๐ ๐ฆ๐๐ฒ๐ฝ ๐ฏ๐ ๐ฆ๐๐ฒ๐ฝ ๐๐ฟ๐ฒ๐ฎ๐ธ๐ฑ๐ผ๐๐ป ๐ผ๐ณ ๐๐ผ๐ ๐ฉ๐ฎ๐ด๐๐ฒ ๐ข๐ฏ๐ท๐ฒ๐ฐ๐๐ถ๐๐ฒ๐ ๐จ๐ป๐ณ๐ผ๐น๐ฑ: โฃ
Vague Priority Identification
โณ Without deconstructing the “why” and “what” of a priority, you can’t truly understand the problem you’re trying to solve.
โณ This leads to interventions that might not address the actual underlying issues.
Skipping Stakeholder Engagement
โณ Failing to consult key stakeholders means missing diverse perspectives and local knowledge.
โณ This can result in initiatives that don’t align with community needs or face resistance during implementation.
Lack of Baseline Data & Evidence
โณ Without understanding the current state and gathering existing data, you can’t quantify the problem or measure success.
โณ This makes it impossible to assess the true scale of the challenge or the effectiveness of your interventions.
Ignoring Root Cause Analysis
โณ Focusing on symptoms rather than root causes (e.g., without using tools like the “5 Whys” or a Fishbone Diagram) leads to ineffective solutions.
โณ You end up treating the surface issue, only for the problem to resurface later.
Undefined High-Level Goals
โณ Without aspirational, yet clear, goals, your project lacks direction and a sense of ultimate desired impact.
โณ This can lead to a fragmented approach where individual actions don’t contribute to a cohesive vision.
Bypassing the GO-EMPAThY Framework
โณ Not considering the Environment, Market Dynamics, Politics & Policies, Actions, Theory of Change, and Your Role means a superficial understanding of the context.
โณ This results in strategies that are not robust or tailored to the unique local economic landscape.
Neglecting SMART Objectives
โณ Failing to translate high-level goals into Specific, Measurable, Achievable, Relevant, and Time-bound objectives means you can’t track progress or define success.
โณ This leaves your project vulnerable to scope creep, resource drain, and an inability to demonstrate real impact.
To learn more:โฃ
+ Follow Glenn Athey at https://www.linkedin.com/in/glennathey/
๐ Share with your networkโฃ
๐ฆ๐๐ฏ๐๐ฐ๐ฟ๐ถ๐ฏ๐ฒ to the economic development executive’s toolkit at: https://economicdevelopment.world/toolkit/
