Build Relationships, Not Lists: 6 Key Points for Business Attraction Strategies

I think we all agree that attracting new business investment is a difficult task. While the idea of buying a list, making phone calls and tracking results is a simple and intoxicating approach, the results will likely disappoint. Third-party consultants may promise a qualified list of firms actively expanding or relocating, but communities should be cautious of such a promise. Why?

The decision to relocate or expand a business is complex and expensive. It involves the disruption of people’s lives and careers all while creating new expectations (for the community and the business alike) that may or may not be met.

Why then would a company that is about to embark on such a costly and complicated process want to become part of a widely sought after and accessible database? How would they respond if “cold called” by an economic developer? Continue reading “Build Relationships, Not Lists: 6 Key Points for Business Attraction Strategies”