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| Because of the economy... |
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thecyclingartist says: |
Are you EXPANDING?!?!
I am. Painting bigger, higher prices, trying to open a workshop/gallery (renting, not buying the shop), advertising more, listing more, and for the first time have a business account and applying for a bus loan.
How about you? Downturns can be the best opportunities for growth and expansion as your competition pulls back, downsizes, and businesses with larger overheads and too many credit accounts close shop.
Being a low to mid-turnover self-employed business can actually be a benefit right now if you have minimal premises expenses, can still buy somewhat in bulk, control your own hours, and don't rely on high-street retail traffic. For artists and craftspeople who can put work out on consignment our opportunities can actually INCREASE because shops who are feeling the pinch don't have to invest capital in stock, yet our work can then be seen in more places.
Are you growing? Do you have a plan to hit the market hard for the next 6 months? He who survives wins - if you're trading and active for the next few quarters you may find your competition has shrunk, while your presence has been consistent, and you are the name that comes to mind for buyers and stockists when the upturn hits!
Anyone else agree with this? Business plans must be longterm, not just the current economic period. It's worked for me so far over the years - the harder things get the more I take risks.
Share your ideas, plans and successes! :) |
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Posted at 8:17 am, September 30 2008 EST - Report this post
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peggmackodesigns says: |
Wow, that certainly is a lot to think about this morning. Very good points!
Pegg |
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Posted at 8:18 am, September 30 2008 EST - Report this post
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SimplySentimental says: |
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I'm really wanting to get the word out about my shop to International Buyers but don't really know where to start..I've always shipped International but I think I've only had a handful of sales from International buyers... |
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Posted at 8:19 am, September 30 2008 EST - Report this post
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bigbluebed says: |
I think because we are short of money, I am trying to raise money by other means than my regular employment.
This includes sewing and knitting to increase my stock level. |
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Posted at 8:19 am, September 30 2008 EST - Report this post
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sunshinehillstudio says: |
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Hey, that's some positive thinking! thanks, needed that:) I need to write a business plan...it's on my very very long list of things to get done. But I agree, very important. |
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Posted at 8:19 am, September 30 2008 EST - Report this post
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thecyclingartist says: |
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So sorry! it's afternoon here so I've thrown a lot at the North American folk still having their first coffee. :) I'm already well-caffeinated. ;) |
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Posted at 8:20 am, September 30 2008 EST - Report this post
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bombshellstudios says: |
I do find myself expanding. Opportunity and selling (and my own buying) have not been affected yet by the economy. I also find myself being more creative with ideas about how to get myself out there to the buyers.
Thanks for bringing this point of view up! The positive side! |
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Posted at 8:22 am, September 30 2008 EST - Report this post
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CaptureCapeMay says: |
I am :-)
I just purchased two new URLS and set up a personal website where people can purchase from my inventory. I got all new business marketing supplies too. I'm excited. |
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Posted at 8:22 am, September 30 2008 EST - Report this post
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bombshellstudios says: |
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I've been off of coffee for a few weeks now. Perhaps I will treat myself to a cup this morning! :) |
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Posted at 8:22 am, September 30 2008 EST - Report this post
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