What Type of Strategic Plan(s) Does My Community Need for Growth?
8 Nov 2021
News, Strategic Planning, Blog
Planning is the key to sustainable, managed growth, and choosing the best type of strategic plan is equally important. When a community grows too quickly, or haphazardly, resources and infrastructure are strained. When it grows too slowly, the seeds are planted for a steady cycle of decline. Different communities, at different phases in their evolution, need different plans.
The best plans begin with introspection. When was the last time your EDO took a careful look at your overarching vision? How recently have you explored what the members of your community need and want by way of surveys or town hall meetings? Who are your stakeholders, and how should they be involved? Knowing what success would look like, how to measure it, and what timetable is realistic, will give you a place to start.
Often a comprehensive strategic plan is a compilation of smaller, more specialized, types of strategic plans that outline initiatives, goals, and objectives.
Here are some examples of types of strategic plans:
Land Use Plan
One of the cornerstones of sustainable growth is the ability to balance competing needs. A Strategic Land Use plan will help reduce conflicts, protect the environment, and create a more livable, productive community. Once a vision becomes a plan, it can be rendered and presented to site selectors long before breaking ground.
Economic Development or Redevelopment Plan
Creating and sustaining a robust local economy requires both vision and a deep, analytical understanding of your community’s unique assets, as well as its potential. That vision and understanding will help stakeholders lay the groundwork for attracting the right employers and investors.
Workforce Development Plan
Site selectors need the assurance that if they bring in jobs, there will be plenty of skilled workers available. Building the connection between training, education, and employment usually requires partnering with existing schools to implement specific training and certification programs.
Strategic Plan for Fundraising
Your overarching vision may include a specific objective that needs a healthy influx of capital. To make this happen smoothly and effectively, many EDOs hire an outside firm such as National Community Development Services (NCDS) to create a 5-year plan that will raise the money required and, in turn, produce a return on investment for investors/stakeholders.
Economic Development Marketing Plan
A sophisticated ED Marketing plan draws attention to your community in strategic, measurable ways. In addition to helping our clients create and deploy effective EDO Marketing Plans, Golden Shovel Agency offers a wealth of valuable e-books, webinars, and podcasts, to anyone who is interested, free of charge.
No matter what type of strategic plan(s) you choose, when it’s time to move from strategy to action, it’s important to stay nimble. Investing some time and brainpower on the “what ifs” during the planning phase can help ensure that semi-predictable challenges are averted, and unpredictable challenges can be better met. On that same note, never stop reviewing and updating your plan(s).
No matter what type of Strategic Plan(s) you need, we highly recommend that you stay abreast of the latest EDO information through our free newsletter.
For more information related to growing your community successfully, contact Golden Shovel Agency today.