Tips For Designers to Survive the Current Market
If you follow the news, you’ll hear that the market is up, the market is down, some design businesses are struggling, some are doing okay. Experts can’t seem to agree, but a lot of designers are worried.
Here is the truth: The current market is more challenging for designers because fear has caused people to spend less or take a longer time making decisions about more expensive purchases. Some see that as bad news. I see it as an exciting challenge to think more creatively, learn new skills, and come out way ahead as the economy gets stronger. Many will throw in the towel. The ones who come through will enjoy incredible – and much easier – success (with a lot less competition).
So what are the things you can do to survive and thrive in the current market?
* Create more online exposure
Despite a slower economy, online retail shopping continues to show growth. But even if you don’t sell products online, you need to have a strong online presence. While local homeowners are searching on the web for products to purchase for their homes (and many more of them are doing this), you want them to come across your information. Post to your blog at least twice a week. Create a profile on sites like , , and . Just a few minutes a day on these sites will drive more traffic to your business.
* Sell updates rather than investments
When people are being more careful with their spending, they are more concerned with VALUE. This doesn’t mean that homeowners are not spending on their homes. In fact, recent research is showing that many homeowners want to “reward” themselves with small purchases to spruce up the look of their homes. They may still be hesitant to invest in an entire room remodel, but they are very eager to update a room with accessories, new tassels, paint, or colorful throw pillows.
Focus on those “update” items, and you’ll find that many more people are willing and excited to do business with you.
* Create multiple streams of income
As designers, most of us have ONE source of income: working with clients. Yes, we do many things for them and sell various products, but THEY are our only way to make money. When clients are spending less on home design, our business suffers.
But it doesn’t have to be that way!
Designers who have added other streams of design income are not feeling the crisis. Let’s face it. If you have income coming in from various sources, you are less likely to suffer when one or two of them is slow. Look into writing, teaching, membership programs, or doing teleseminars.
You are so creative when it comes to designing. Now use that creativity with your business. You can enjoy wild success!