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Creative money streams

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Alan SmithCreative money streams
by on Mar 10, 2009 at 1:30:58 pm

One of the things we try to do is develop multiple streams of revenue. If one were to dry up, the others should be able to keep the company moving while we search for ways to replace those dollars. In this economy, we are having multiple streams dry up or slow considerably, so we are having to get more creative with the kind of revenue streams we develop.

What are some of the things that you have done to add new streams of revenue to your business?

Alan Smith

Alan Smith
Media317

Check out my blog - http://media317.com


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walter biscardiRe: Creative money streams
by on Mar 10, 2009 at 1:43:27 pm

[Alan Smith] "What are some of the things that you have done to add new streams of revenue to your business? "

Last year I started really pushing to do my own original television programming to essentially establish ownership of my own ideas. I figured it would be about a two year plan and so far it's moving along pretty well with some of the ideas we're pitching. I lined myself up with a fantastic person who can take shows to pretty much any network and present them which is a huge huge deal, but even there, it still takes time to work through the pipeline.

I figure if I can take ownership of my own projects, there's more revenue stream in the long run than just always working for clients 100% of the time.

But a word of warning. In this economy it seems it's everyone for themselves. I now have to be very cautious who I share original ideas with as I'm going to have to defend myself legally against someone I thought I could trust. The good news I have all my ducks in a row and I'll come out ahead legally and financially, but a long term friendship will be destroyed. So even someone you would least suspect of taking advantage of a situation could turn around and just try to steal away your hard work.





Walter Biscardi, Jr.
Biscardi Creative Media
HD and SD Production for Broadcast and Independent Productions.

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Alan SmithRe: Creative money streams
by on Mar 10, 2009 at 2:04:06 pm

Television programming is one area that I am trying to develop myself. I have a couple ideas that I am trying to get worked out before I try to create a pilot and try to pitch.

[walter biscardi] "The good news I have all my ducks in a row"

To protect yourself and your intellectual property, what are some of the things you had done to make sure you had protected yourself? I know it's never fun to loose a friend over such infringement, but protecting your own lively hood and family is much more important.

I have also expanded our services to include various "hobbies" that I have been doing for years. This has added streams of revenue, but we are constantly search for new and fresh approaches.

Alan

Alan Smith
Media317

Check out my blog - http://media317.com


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walter biscardiRe: Creative money streams
by on Mar 10, 2009 at 2:18:14 pm

[Alan Smith] "To protect yourself and your intellectual property, what are some of the things you had done to make sure you had protected yourself? I know it's never fun to loose a friend over such infringement, but protecting your own lively hood and family is much more important. "

Document everything.



Walter Biscardi, Jr.
Biscardi Creative Media
HD and SD Production for Broadcast and Independent Productions.

Read my Blog!

STOP STARING AND START GRADING WITH APPLE COLOR Apple Color Training DVD available now!


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Franklin McMahonRe: Creative money streams
by on Mar 10, 2009 at 1:47:53 pm


Whatever you do for fun now, start it as a business. I have so many branches of my business, photography, design, podcasting, consulting, music that started as hobbies and blossomed into revenue once I let other people know I was doing them.

The key is, there is a market for just about anything, so if you love to play video games, write game reviews or become a tester, etc.

The main thing that stops people is, they think they are not talented enough or not pro enough yet. What happens is once you have clients asking for the services you snap into fast-forward learning. Yes going page by page through a manual is nice in your off time, but nothing gets you more fine-tuned and educated like a few demanding clients and deadlines.

The other key is to educate the public on your new talents, put it on your website, linkedin, twitter, facebook, myspace, everywhere. None of this will work unless you get the word out and email all your contacts to let them know of your new services.

Finally, be flexible enough to start in new directions you never expected. Because that is very often where the money is.

Frank

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Mark SuszkoRe: Creative money streams
by on Mar 10, 2009 at 6:23:06 pm

Something relatively easy to do is to look at what you've already done for existing clients and ask yourself if these assets can be leveraged for other uses or other audiences. For example, can you turn the program around into a podcast, either full AV or just audio. When we make TV spots we usually think ahead about turning the same spots around for radio use, where apropriate.



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Mark SuszkoRe: Creative money streams
by on Mar 10, 2009 at 6:34:19 pm

On the hobby-as-work thing, I would say "maybe" and "sometimes". A lot depends on if you also have the other tools and skills to make a business of it, and if you can do all that and still enjoy the thing in the first place.

I have a LOT of hobbies and outside interests. One of them is RC model airplanes. I used to belong to a local club, and when it closed up one summer, I got to watch a string of club members all try to take over running the local hobby shop, thinking to combine business with pleasure and get "paid" to "play". Each effort was a disaster, on a business level, (for reasons I don't need to go into here) as well as a personal one; since the business ate up all their flying and building time, and their spare discretionary "fun stuff" income, they wound up never getting to do the thing they loved most, the thing that took their minds off of 9-5 work and gave them an escape. It took them away from friends and family and made for a lot of strained relationships. Play became work, became drudgery.

While I am all about finding some niche you are good at and enjoy to carve a video business from, I would just offer the above cautionary tale. Be sure to leave room in the business plan to still have the fun that drew you into that area of expertise, or what started in joy can end up in pain. Some things stop being fun when you make them into work.



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Mick HaenslerRe: Creative money streams
by on Mar 11, 2009 at 12:59:53 pm

I added photography last year for my existing clients which has spawned a whole mess of potential profit centers And during the winter slowdown this year I started diving into Motion to learn motion graphics. I started advertising the recording studio aspect of my facility to singer/songwriters for demo work. And I just started a new duo with a good friend of mine who is a former Nashville side man. We're not sure of a name yet, the two on the table are "Blunderbuss of Love" or "The Red Hot Swingin' Johnsons", what do you guys think? Livin' the dream baby!!!!




Mick Haensler
Higher Ground Media


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