Strategic Process
Every Impact Economics engagement follows the same principle: understand before advising, diagnose before prescribing
The problem with most economic development consulting
Plans built on aspiration - on what a community wishes it could become - collapse under the weight of reality. They don’t account for the specific risks that make investment hesitate in the first place. They don’t diagnose the market failures that keep private capital from acting. And the don’t build the governance and accountability structures that turn recommendations into executed strategy.
Impact Economics was built to solve that problem.
The Engagement Model
Diagnosis Before Prescription
Every engagement begins with a diagnostic phase. This means understanding what is actually happening in an organization or community before recommending what to do about it. The diagnostic may be formal or embedded within a larger engagement. Either way, no strategy is written until we have an honest picture of where the organization actually stands.
Every Strategy Tied to a Failure
Every initiative in an Impact Economics project must answer three questions: what market failure does this correct? What risk does this reduce? What return does this unlock? Initiatives that can't answer all three don't belong in the plan. This eliminates filler and forces the kind of honest prioritization that separates a plan you can execute from one you merely adopt.
Governance Built In, Not Bolted On
Most projects end with a list of recommendations. An Impact Economics engagement ends with an operating system: governance structure, board accountability framework, staff ownership matrix, performance metrics, and a review cycle. Strategy without governance is just a document.
Engagement Types
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For organizations that need focused, fast analysis of one specific issue — no site visit required, results in 1–4 weeks:
Strategic Plan Health Check — Is your existing plan still the right plan for you?
Incentive Policy Review — Are your incentives competitive, defensible, and structured to protect you?
Website & RFI Audit — Is your website and RFI responses winning deals or costing you?
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For organizations beginning a new advisory relationship, Impact Economics offers two diagnostic entry points:
The Market Position Diagnosis — an outward-facing assessment of how your EDO is positioned, perceived, and found in the market. Site selector survey, controlled presence audit, web reputation analysis, and competitive comparison.
The EDO Diagnostic — an inward-facing organizational health assessment covering governance, financial structure, staffing and succession, internal processes, incentive policy, and strategic clarity. The most rigorous entry point for organizations preparing to commission a strategic plan or facing a significant inflection point.
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The full Impact Economics product suite includes strategic planning, financial tools, specialist intelligence reports, and succession planning. See the What We Do page for complete descriptions.