Q: What is Economic Gardening?
A: Economic Gardening is a market research program that provides virtual access to information tailored to your specific needs. In partnership with the Edward Lowe Foundation, accepted companies are provided up to 36 hours of secondary market research focused on strategic growth issues. To find out more information, click here for a short video.
Q: What is a second-stage growth company?
A: The definition of a second-stage growth company can vary somewhat, but it typically refers to a company that has grown past the startup stage but has not reached the point of maturity. It is also a company where the CEO is transitioning out of total control and into a more strategic role while professional managers are added to run key parts of the company. The firm still does not have the capacity to retain a full-scale professional management team. In Louisiana, a second-stage growth company is one with five or more employees, but not more than 100, and has annual revenues that exceed $600,000 but are less than $50,000,000.
Q: What is the cost to participate?
A: There is no cost to participate in the Economic Gardening Initiative.
Q: What are the services offered through economic gardening?
A: Through accelerated technical assistance and research, an experienced national economic gardening team will provide customized services tailored to meet individual business needs. Following an initial team call where the CEO outlines their current strategy and needs, the National Strategic Research Team begins to provide research reports, recommendations and data lists for the company to implement within its growth strategy. Research areas include market research/competitive intelligence, geographic information systems, core strategy review, and internet/social media/search engine optimization strategies.
Q: How long does the program engagement last?
A: The entire engagement lasts between three and six weeks on average. The length of time is usually determined by factors such as complexity of the issues, availability of relevant research information, and CEO involvement and availability.
Q: How much time should I plan to dedicate to this engagement?
A: Many of the CEOs we have interviewed after their engagement have told us that they spent between eight and twelve hours directly involved in the process.
Q: Are these services offered by other organizations?
A: The type of support given to second-stage growth companies through economic gardening is unique in that it provides a Fortune 500-quality research team to help your business grow. The services are complementary to other support organizations and add value on top of services provided by chambers, small business development centers and regional economic development organizations.
Q: What is economic gardening and how can it help me as the CEO of a growing company?
A: Economic gardening is an innovative, entrepreneur-centered approach to economic development. Technical assistance provided by a team of national experts can lead your company to new heights. Learn more about what economic gardening can do for the growth of your business.
Q: As the leader of an Entrepreneur Support Organization, why should I refer my clients to economic gardening?
A: Referring clients to other state-supported services such as economic gardening can help build trust, increase effectiveness, and strengthen the entrepreneurial culture in Louisiana. Learn more about the benefits to your organization.