.entrepreneurial capital
Richard Florida (Florida, 2002), in his book, The Rise of the Creative Class, maintains that the key to economic growth lies not just in the ability to attract the creative class, but to translate that underlying advantage into creative economic outcomes in the form of new ideas, new high tech businesses and regional growth. The challenge for economic developers is how best to foster the development of innovative companies run by entrepreneurial, creative professionals in knowledge-intensive industries.
The experience at Littleton, Colorado (Gibbons, 2007) is that only a very few (3-5%) companies being started are high-growth, with the majority of the rest being started for lifestyle reasons or just to earn a “wage” for the proprietors.
Our current research project is to develop a Revolutionary Thinking model which focuses on building individual capacity around creativity, innovation, and entrepreneurship.
The proposed outcome is the formulation of a robust model that can be used by Economic Development professionals to identify appropriate individuals and then develop support mechanisms to maximise the likelihood of their success.
.can you help?
The Revolutionary Thinking Model is being developed by taking a holistic view of entrepreneurship by examining the relative influences of the following on the likelihood of success for entrepreneurs starting new businesses?
- Psychological Capital (who you are)
- Human Capital (what you know)
- Social Capital (who you know)
If you are an entrepreneur or someone working in economic development, and you would like to participate in our study, please email Philip Dennett with your details. As we progress, we will be publishing highlights on this website. Plus the full report will be available free of charge to research participants.
.brand alignment model
Brands that connect with customers' emotions are those that reflect customers' core values. In effect, the brand captures and communicates values customers hold dear."
- Leonard Berry
The Brand Alignment Model came out of an in-depth research project on customer loyalty. In discussing the Model with senior executives in a range of companies, it became very clear that building customer loyalty was a key value driver in all their businesses. And not just loyalty per se - the important thing is to manage the relationship to best meet the needs of the customer and the company.
As one of them said, "it's 5 years before they are going to make another purchase, which is good and bad. We've got 5 years to move them up the pyramid; but we've also got plenty of opportunity to stuff it up. That means we have to keep in touch with them and try to keep them satisfied and try to involve them more."
We have published the results of the study, together with insights gleaned from seasoned marketers, plus an outline of how to work with the Model, in a book entitled Customer Savvy. The book is the first title in our Business Bites series which aims to present mission critical information in a concise actionable format. Copies are available for $19.95.
Click here to download an order form.
Brand Workshops
At Mulga Partners, we conduct Brand Workshops with clients, using the Brand Alignment Model as a tool to map where various segments of your customers are (in terms of loyalty) and help you develop strategies to increase their worth to your business and ensure the power of word-of-mouth works in your favour. For more information, phone Deborah on 0438 202 138, or use the link below.