Interview with the Times of Mineral Point, May 2009

This story ran in the The Times Mineral Point (WI) May, 2009. Subscribe to the Times of Mineral Point by writing to Frank Beaman, Editor, PO Box 169, Mineral Point, WI 53565

Newsmaker: Rick Terrien on Economic Development

Published May, 2009

FRANK BEAMAN

Rick Terrien serves as the first Executive Director of the new Iowa County Area Economic Development Corp. He was named to that post in December.

He is a 1975 Graduate of St. Mary's University in Winona, MN, where he studied organizational Policy and philosophy, and became a disciple of small-business start-ups. His first such venture was sparsely funded, but grew and prospered for 25 years. And ten years ago he launched Universal Separators, again on a shoe-string, and was awarded nine patents (and several business awards) for a device that removes oils from industrial process fluids, so that both the fluids and the oils could be diverted from the waste stream and recycled. "We did it all," he says, "with committed friends, great ideas, and smart execution."

So Rick Terrien is a teacher-preacher for the entrepreneurial spirit. He makes heavy use of web sites and writes his own blog to fire up those who have dreams.

"Dreams," he says, "are what economic development are all about - it's all about combining courage intelligence and organization." And Terrien is convinced that small size can also be an advantage in a business climate like that of Iowa County.

"I see this area of Wisconsin as an incubator for small, environmentally-friendly businesses," he recently told a Dodgeville audience. "In the arts and small-scale agriculture, there are viable possibilities for sustainable business growth."

When you speak of "small and sustainable business" are you talking about "Mom and Pop business?"

"My business mantra is 'sustainable equals repeatable.' Businesses that have sufficient organization and professional processes in place can grow and prosper. These can be 'Mom and Pop' firms. Or just 'Mom.' Or they can be agriculture related, tech related; they may involve any number of industries Iowa County is rich in, including tourism, arts, distribution, and manufacturing. In my mind sustainable enterprises have good planning, management, accounting, and execution skills, independent of their size. I've seen this work beautifully with one-person arts enterprises, and I've seen it work with 1,000 person manufacturing firms.

I believe that in Iowa County, we have a base of creative, dedicated entrepreneurs (and those who want to be!) to make us a world leader in sustainable enterprise."

But at the moment everyone is scared, because of the national recession. Isn't this a bad time to start a business?

"Exactly the opposite! This is no time to crawl under your desk.I believe that, right now, Iowa County is in a good position to capitalize on the assets its citizens have nurtured over several recent decades. Iowa County, if marketed right, is in a better position to work through this bad economy and emerge from it quicker than many other places in our region, moving into the 'next-economy' - that is, the system that must inevitably follow all of today's economic difficulties.

And Iowa County officials want to get ready for this 'next-economy'. My task is to let everyone know that 'we are open for business.' That means giving support to existing businesses, supporting new businesses, and attracting start-ups to the area."

Terrien, in his first 130 days on the job, held meetings, visited interested businesses and civic groups, advised entrepreneurs, created strategies and policies, and energized a county (economic development) web site. He is organizing an Entrepreneur and Inventor Club, a mentor group and several business partnerships in a variety of fields.

You are working to set up a food distribution center in Highland. Is that a good example of the kind of business we need?

"This project is in the early development stages. , and certainly isn't a 'done deal,' but my own business radar makes it feel very possible. Iowa County has a good share of the funding in place, while working with people from Highland to create the facility - a vegetable processing and freezing plant that would distribute quick-frozen vegetables to institutional users, private label food distributors, and contract food manufacturers. We have been working with government agencies as well as many local farmers and producers in our region.

The main idea is to boost the area's agricultural infrastructure with the new facility, allowing farmers to market their products in ways that deliver increased revenue to them. We are hoping the new processing plant will bring related food-processing to the area. Iowa County is a natural, strategic hub for this work.

We also believe we have the regional and national buyers in place to deliver these new revenue streams to the Iowa County area.

We would like to be open in the late Spring or early Summer of 2010 if all the pieces fall into place. Many bridges yet to cross so keep your fingers crossed!"

The goal then, is not major industry, but business with a home town view?

"I think good economic development must reflect the goals and culture of the communities served. I also strongly believe that effective development must serve everyone on the economic scale in those communities, from top earners to those working for minimum wage. For me, economic development carries the implication that individuals, as well as the bigger organizations, can participate in the growth. Good economic development benefits both."

You are an "idea man", an inventor, an entrepreneur. But its risky stuff. How important is innovation? Or is it a better strategy to do the old things well?

"Innovation, invention, and entrepreneurship usually involves improving on a pre-existing idea, product or service. I would strongly say that it's best to continuously look for ways of doing the old things better. In this economy, what is risky is to do nothing and rely on others to take care of us. I believe it is far LESS risky to try out new ideas and concepts, looking for to diversify and strengthen our economy.

I have a bad history when it comes to doing things everyone else wants to do. I come from the school of thought that says when trouble is in the air, you run toward the sound of the guns.

Today's sour economy is hurting people in very real ways, but I believe our new Iowa County organization can make a positive impact on a grim situation."

Which part of our economy needs the biggest buildup?

"I have a bias toward entrepreneurship. I think that enabling people to enter the world of commerce with their own small, sustainable enterprises builds our local economy and builds our local communities. The more we can diversify our local economy, the more entrepreneurial our area becomes, the more vibrant and liveable our communities become. This attitude attracts people with knowledge, talent, and enthusiasm, building growth in the region in sustainable ways that serve everyone involved."

And how should that building be done?

"Helping the existing enterprises in the county to strengthen their economic positions is an immediate goal of our new office. We do that through site visits, and assessments, then working to get the tools and services businesses need. Training new entrepreneurs is also an immediate goal; this is being done on a case-by-case basis right now. We are organizing Iowa County's first Entrepreneur and Inventor Club.

These strategies create a platform for learning how to start businesses and share information, tips and ideas. Existing small businesses participate, as do people just beginning to explore the idea of their own enterprise. I've talked up these tactics around the state in the past several years, and found them to be very valuable for all involved."

But there must be roadblocks, right?

Sometimes, I think the biggest roadblocks are our own assumptions. It's just too easy to get cynical and defeatist, given today's news headlines. Yes there is bad news out there, but the stock market is not the sum total of the economy. The bad news doesn't mean that you should not get started in some new enterprise. Just the opposite! The bad news means you should look for ways to strengthen your economic position, starting today.

You write about "three action steps for communities. What are they"?

For me it's a no-brainer: we need good universal broadband, virtual incubators, and micro-lending. Broadband improvements bring speed in communication; high-tech business incubators teach skills and get businesses rolling; and simple new micro-funds could provide the kick-start. People would find it easy to get a small fund together through a grassroots effort involving small contributions that add up to a sum that can be used as seed money to start new enterprises.

Citizens should vote with dollars. If they want their community to 'go greener' and should establish what might be called 'a green micro-lending fund'

Here in Iowa County a green micro-fund of $10,000 would be a good start.

As people start new businesses, some of the borrowers will succeed, others might fail. Nobody should expect home runs - this is hard work. It's day-in and day-out, and one foot in front of the other. But this is how communities get built: by choice not by accident."

How would you characterize the reactions you are getting from most quarters - enthusiastic, lukewarm, cool... what?

"My focus is on realistic action steps we can, and should, take now. I'm trying to open doors. I'm working to strengthen existing businesses that want the help. I'm helping new entrepreneurs launch in ways that are increasingly sustainable. Sometimes just showing up and telling people there is hope out there in this economy is important. I'm trying hard to work at all levels of the county, - in the Towns and Villages, as well as our Cities. I'd say the reaction I'm getting has been very supportive. Yes, even enthusiastic (Of course I never know what they say when I leave).

For anyone working in economic development, the goal is to start as many new enterprises as you can. Forget about what business sectors they should be in. Forget about where you're going to get the grants. Forget about the daunting odds against success. Just find a way to get people some optimism and some help.

People are looking for some positive steps they can take. The Board of the new Iowa County Area Economic Development Corp has given me the opportunity to make that happen for all the citizens of Iowa County who want to participate.

I did a Wisconsin Public Radio interview recently, and I also testified to a Committee of the Wisconsin Assembly to talk about this approach. It's clear to me that Iowa County stands way out in front for its progressive, proactive, approach to economic development and I'm very grateful to be able to contribute to that effort.

Interview with Rick by Frank Beaman, Editor of The Times of Mineral Point and published in their May, 2009 edition.

You can subscribe to the Times of Mineral Point by writing to Frank Beaman, Editor, PO Box 169, Mineral Point, WI 53565