Looking for new revenue for 2010…

2010 looks like it is going to be a tough year for small business.
So, how does a small business tackle this challenge? The wrong answer would be to keep doing the same thing and hope you make it. I’d rather think of ways to enhance our current revenue streams, as well as to develop new revenue streams.

OK, so I think we can all agree that makes sense. Now for the hard part… How do you accomplish it?

Part of the Nemo’s concept from the start was to incorporate my photography into the space and the revenue stream. I have certainly enhanced our income here and there with a few weddings and lots of high school senior and family portrait sessions. They have all been generated based on word of mouth marketing, with absolutely zero advertising or marketing efforts. When I broke my clavicle in November 2008, that effectively killed off everything I had going with photography, including hosting photography group meetings in the studio. For 2010, I have a number of activities planned to incorporate photography again…

1. Since we installed a 40” LCD tv in the café, I can use it as a marketing tool for my photography. I’m going to create a marketing DVD to promote my portrait and wedding photography, and I will play the DVD in the café.
2. There are a number of companies that will print hard and soft cover books with your photographs. I’m going to design books to promote my photography services and have a number of them printed. I’ll place the books on the tables at Nemo’s, at all three of the local Curves locations (owned by Tracy’s mom and sisters), and at other locations I can find to display them (other coffee shops, our church and other churches to promote wedding photography, etc).
3. I will also begin actively marketing my photography services via Facebook!
4. I am drafting a beginner Photoshop course curriculum. I will be offering a six or eight week session of Photoshop lessons, to teach new photographers a digital workflow. I haven’t decided on pricing yet, but I’m aiming for the $100-150 range. I will market this class via www.meetup.com, which was very successful when I offered Photoshop classes in 2007-2008.
5. I randomly put prints of my photography up in the shop, typically on the bulletin board. I haven’t taken the time to matte or frame them. We get requests at least once a week to purchase a copy of various images. For 2010, I will be selecting 20 or 30 of my most popular images and get prints made in various sizes, from 5x7 up to 20x30 (or even bigger if the image quality will support). I’m going to take the best 10 or so and have them matted and framed in the largest sizes the image quality will support and display them in the café utilizing our art rail. I’m also going to mount and matte the images in smaller sizes and merchandise them in plastic art sleeves and have them available for sale. It is so much easier for someone to grab it and pay for it, than for them to ask about an image on display and wonder if they can purchase a copy… I will also create a DVD to play on the 40” screen to highlight my images available for sale at the shop.
6. I bought a 15” LCD digital photo frame, which I will load with the images available for retail sale. People just love a moving image, and I think this will really grab their attention and sell some prints.
7. I have also had two galleries in town express their interest in displaying my work. I have one show confirmed for September 2010, and I need to formally submit images to the second gallery and chase that opportunity.
8. There are still photography groups organized through www.meetup.com as well as Strobist groups (see www.strobist.com to see what they are all about) in town that are interested in using my studio for meetings. I will begin offering the space to them again this Spring.

If these ideas are well executed (which is the only way I like to do things), I believe we can create a whole new revenue stream that will help us to survive these lean times. It will require a great deal of effort up front, but once established, will be easy to sustain.