Thursday, March 6, 2014

Three Essentials For A Resilient Local Economy: Build Trust, Develop Leaders, Cultivate Entrepreneurs

“Don’t let what you cannot do interfere with what you can do."
-John Wooden, Legendary UCLA Coach

The Pain
Over the last seven years our local economy has taken some hard hits.  The domino effect of economic decline has definitely been felt in a number of local industries vital to our economic well-being (construction, real estate, manufacturing, transportation, local businesses, schools, and municipal services).
However, the real pain has come to rest on individuals and families.  Loss of employment, reduced work hours, declining business activity, business closings, loss of homes, financial loss, loss of self-esteem, and sad to say, in some cases the demise of vital family relationships.

The Challenge
Regardless of the cause of these economic ills and their disruptive effects on the residents of our community, the challenge we now face is how to build a more resilient economy amid the rapid changes we presently face and will face in the future?
Fortunately, our local chamber of commerce and businesses have been working on ways to strengthen our economy.  Likewise, our local and county civic leaders have dedicated efforts to promote economic prosperity for our White Mountain Region as well as our local economy. These efforts have resulted in some promising prospects.
Nevertheless, as individuals, we should ask ourselves, “What can I do to build a more resilient local economy?”  The answer to that question may require us to step outside our comfort zone.  More often than not, that's a daunting process.  However, taking it one step at a time, it can be done.  Each of us have a stake in the economic prosperity of our community and each of us can make a difference.  The timely advice of John Wooden carries a practical message of hope, “Don’t let what you cannot do interfere with what you can do.”  Additionally, do your best and then take it to the next level.  
We always have a choice and when we focus and act on what we “can” do, the doors of opportunity open and we increase our ability to do more.

The Opportunity
Our most valuable resource in addressing any challenge is our ability to learn, think, choose and act.  It's an ongoing process because life is ever changing and with that change comes opportunity.  As it pertains to building a more resilient local economy, three essentials come front and center:  Learn, consistently apply and master the principles of 1) building mutual trust, 2) developing inspiring leaders, and 3) cultivating entrepreneurs.
Mutual trust is the currency of prosperity.  "It is a function of character and competence... [it] impacts us 24/7, 365 days a year.  It undergirds and affects the quality of every relationship, every communication, every work project, every business venture, every effort in which we are engaged." (Stephen M.R. Covey, The Speed of Trust). Building, maintaining, and restoring trust are essential to our local economic prosperity.
Inspiring Leaders guide through the bad times as well as the good.  They see the potential of not only opportunities, but more importantly the potential of each individual they influence.  They act to bring out the best in people and help them capitalize on promising opportunities and make meaningful contributions.  “Leadership is not a formal position, it is a choice.”   (Dr. Stephen R. Covey, The 8th Habit).  Inspiring Leaders mobilize individuals to accomplish desired outcomes; they're essential to the prosperity of our local economy.
Entrepreneurs create compelling value in the marketplace.  They seize and act on opportunities to make life more prosperous for all concerned.  "Innovation is the specific instrument of entrepreneurship.  The act that endows resources with a new capacity to create wealth." (Peter Drucker, Management & Entrepreneurship Expert).  Entrepreneurs create an ever increasing number of economic opportunities which in turn create an increasing number of good jobs. They are committed to continuous improvement; they are essential to local economic progress!
With these essentials in mind, the opportunity to create greater economic prosperity for our community has never been better.  The Law of the Harvest favors those who act by sowing the seeds that build a more resilient local economy.
Your choices and what you do are important.

The Question
What will you do today and in the coming weeks and months of 2014, to help our local economy prosper?  Your efforts will make a positive difference!

Next Post
Monday, March 10, 2014

What do you think?
As always your constructive comments are welcome and appreciated.


The Silver Creek Economy 2014 blog is sponsored by Partnering Technologies, an Arizona-based Learning & Development Company.  Their focus is helping individuals and organizations learn, consistently apply, and master a skill-set that is always in high demand, always highly valued, and always highly paid.  Its founder is Jim Sanderson.

Visit their website at and find out what they are doing to build a more prosperous economy for our community in 2014.

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