Speed to Market: Why Should you Care?
By Courtney Zaugg, CEO and Founder, Plaka + Associates
Published: May 31st, 2019 by Verisite.
Just like emerging businesses that work hard to turn prototypes into products that expand their business, firmly established businesses work hard to carefully research and select the best-fit locations for their company’s expansion. And just like emerging entrepreneurs who take too long to commercialize their products, established businesses that take too long to find an appropriate site for relocation/expansion many times lose precious time, revenue, and opportunities to surpass their competitors. Yet, communities, developers, and property owners undervalue tools that critically heighten their competitiveness, such as site certification.
While the shovel ready/site certification programs have been around a while (Build Now-NY began over 20 years ago) economic developers and consultants agree that the data transparency in site certification have a proven value to companies and developers. Why? Folks in economic development know that site certification offers superior speed-to-market options for companies – a factor that is supremely critical in site selection decision-making. Furthermore, companies are pushing back on bearing the cost of intelligence gathering and due diligence on numerous sites when conditions of these sites are substantially obscure. Why not be transparent and make it easier for them to do their work?
In the world of entrepreneurs, the speed-to-market of products and technologies is essential to create sustainable prosperity and economic progress for the company. Similarly, certified sites provide companies with fast speed-to-market information, taking much of the risk out of the location decision while also accelerating the revitalization of many economies. The cost of having sites and buildings certified is far less than the cost to communities of zero job creation declining tax revenue.
Why should you care? No sites or buildings to offer? No new jobs or tax revenue. Period. With changes in the market impending, it is important for communities to position themselves for the market rebound. Competition is stiff, so how are you going to stand out? Site certification might be the key.
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