October was a fascinating month with several new initiatives underway. We began working with our first agile business development client using a process called Kanban. The intention is to accelerate the business development process significantly by using a Kanban model which is “Ready, Doing, and Done.” This requires a high-speed 2-week sprint, followed by a report out and recalibration based on learning, then set another two-week sprint to repeat the cycle. The concept is to create highly focused energy on a few (2-4) key tasks each sprint. When those tasks are done, another 2-4 tasks are selected. Kanban requires a fair amount of discipline to stay focused on those few things rather than get distracted by the many things on our to-do list.
Early in the month, I had the opportunity to give a presentation on the Seven Steps to Raising Venture Capital to our local coworking incubator tenants. We also discussed alternatives to venture capital, such as loans or grants which do not dilute ownership.
One of my thought projects this month was Web3 or, better yet, Web2 moving to Web3, and how that’s impacting various sectors including economic development. Could NFT fund economic development using a platform such as OpenSea marketplace? How does the decentralized cryptocurrency market impact economic development? Lastly, how can blockchain be used in economic development particularly as it relates to the ownership of real estate? Stay tuned.
We also were in discussion with a consulting firm regarding the reshoring of major companies and FDI coming from places like Korea relative to the battery industry and its suppliers. With over 15 major battery projects underway in the United States, we expect this area to grow significantly in terms of activity and interest.
What were some of your favorite things you learned this month?