Sunday, April 8, 2012

E.T.A. in Placemaking

I was browsing a website that talks about urban planning. While reading a recent blog post to this website, which you can find Here. I couldn't help but compare some of the arguments they were making for the benefits of place-centered approach to developing a piece of real estate and the lessons taught in a Babson MBA. The article gave some points about a place-centered approach involves:

  1. "…starts by looking for partners from the community that can provide a basic knowledge of how the site is already used in order to ensure that the design is inclusive and accessible to the people around it." 
  2.  "starts small and builds up through an iterative process. Lighter, Quicker, Cheaper strategies are deployed to test ideas out before they’re writ large in stone and steel."
  3. "…accepts that the design of a successful place is never really finished. Communities change, uses shift, and places need constant attention in order to stay useful, relevant, and attractive to the people who use them. Remember that Placemaking is 80-90% about good management
If I had not stated that I pulled this from a blog about real estate, you could easily confuse the above recommendations with any number of business blogs. To compare the above statements with some of the facts I have learned in my first year of business school.
Point 1 is really a fundamental part of any start-up. It is always important to make the right partners both when it comes to your internal team as well as external partners to help make your business successful.
Point 2 is the basics lean start-up and really the basis on E.T.A. (Entrepreneurial Thought in Action). Start with a small step, learn from it and take another step.
Point 3 is exactly what we discuss in strategy classes on our cases about Blockbuster. Just because you may have the right product for today, does not mean you are still going to be the right product for tomorrow.