Issue link: https://nebusinessmedia.uberflip.com/i/853654
30 Hartford Business Journal • January 30, 2017 • www.HartfordBusiness.com OTHER VOICES Positive trends developing between public, private sectors HARTFORDBUSINESS.COM POLL LAST WEEK'S POLL RESULT: Should CT adopt a carbon tax? 22.6% Yes 77.4% No To vote, go online to hartfordbusiness.com The Connecticut Business and In- dustry Association (CBIA) has imple- mented an enhanced program to get businesses and lawmakers talking with each other this year. It is called "Adopt a Legislator," and connects individual busi- ness owners with lawmakers in an attempt to facilitate an understanding of the needs of Connecticut businesses and the challenges the state is facing. Additionally, Gov. Dannel P. Malloy has teamed up with CBIA to visit businesses and promote smart economic development. These are both smart strategies, which foster the spirit of collaboration and can lead to genu- ine progress. For years Connecticut has had a rep- utation of being less friendly to busi- nesses and economic development, but it doesn't have to remain that way. There are numerous re- cent examples of the business community working with mu- nicipalities to find pathways to shared success. The key is thinking local; this is where so many of the best ideas for public-private collaborations originate, and success at the local level will no doubt have a strong impact on the entire state. Bristol is a prime example, where the expansive development of ESPN has had a profound effect on the overall success of the city. Munici- palities such as Southington and New Britain have engaged in campaigns to promote themselves in holistic ways, from residential life to social life to business development. In West Hartford, the success of the town's center and adjoining Blue Back Square shows what can happen when government works with the business community. In Bloomfield, a recent influx of new businesses has led to an increase in housing, which is yielding positive results across the board. These are real- time, real-world examples of how col- laboration can work, and these efforts can be replicated throughout the state. The natural starting point for the business and public sectors is a very simple one, but one whose importance cannot be overstated—they need to communicate. They need to be speaking with one another, finding shared challenges and pain points and considering shared opportunities and solutions. Progress can never occur in a vacuum; in fact, the opposite is true. Economic development can only work with an open dialogue between our business leaders and our political lead- ers. And the tone being set this year by the CBIA, state government leaders and local government leaders working more closely together shows just how possible this really is. The formula is simple: Connec- tion rather than division, partnership rather than working in a vacuum, and a strategic approach between the pub- lic and private sectors that sets clear goals and strategies to achieve them. Business friendliness and sound government policy do not have to be mutually exclusive concepts. The key should be embracing these positive changes we are now seeing and build- ing on them. Our entire state, and every sector within it, will benefit from it. Vanessa E. Rossitto is a partner with West Hartford accounting firm BlumShapiro and director of the firm's government services group. Vanessa E. Rossito Guest columnist "Instead of looking for the next tax on its citizenry, CT should consider a redux of its entire funding approach. The people are fed up with this incremental approach, which has been proven totally unsuccessful since the days of Lowell Weicker. Time to wake up CT before it's too late." READER COMMENTS: Should CT legalize recreational use of marijuana? D espite Connecticut facing another year of difficult budgetary talks, there seems to be some positive developments on the horizon. Much more than in previous years, the public and private sectors are making the effort to talk with one another and work together on potential solutions for economic development. This is good news — we have a much better chance of seeing a beneficial outcome if all parties in Connecticut attempt to be on the same page. "Please do not create or raise anymore taxes in Connecticut. That is one of the major reasons we have not recovered from the recession. If we want to lower carbon emissions give tax credits for wind, solar, geothermal, hydro and nuclear. Will help create private sector jobs which are desperately needed in the state of Connecticut." "I think the tax is good idea, but it ought to be revenue neutral, not in addition." Next week's poll: BIZ BOOKS HBJ How smart entrepreneurs adapt to succeed "Think Agile – How Smart Entre- preneurs Adapt in Order to Succeed" by Taffy Williams (AMACOM, $23). Despite believing they're flexible, entrepreneurs often rely on their strengths when faced with opportunities and problems. Such reliance makes their actions and reac- tions predictably one-dimensional. Many entrepreneurs believe they're risk-takers – after all there's a huge risk in starting a business. Yet, as their business grows, their view of risk changes. They begin to fear failure; when crunch time comes, they become overly cautious. That fear creates a rigid, narrowly-focused ap- proach to doing business. Then there are entrepreneurs who are so emotionally attached to their ideas and plans that they won't listen to others. If you've watched any episode of "Shark Tank," you've seen newbie business owners staunchly defending their approach and prod- uct/service with an "I know better" attitude. Their commitment to their path leaves many stones unturned. What do all of these entrepreneurs have in common? A self-imposed blind spot. Agile entre- preneurs, on the other hand, rec- ognize that they don't know what they don't know. They seek advice and listen to it. They constantly ask questions about how to approach situations. They un- derstand that rushing headlong into something usually creates problems because plans aren't thought through. They know playing "not to win" is a loser's game. They also know that the customer, not the commitment of the entrepreneur, makes or breaks a business. Doing so allows them to "plan for the unexpected and prepare for the unpredictable". While there's value in goals, budgets, timeframes, etc., there are too many events over which they have no control. These require adaptive responses. Agile entrepre- neurs "see their plan as a malleable document that can and should be ad- justed." Williams doesn't talk just in terms of a what-if Plan B. He encour- ages entrepreneurs to create Plans C, D, E…. By thinking ahead, they can visualize future adjustments. Jim Pawlik Book Review