Creative ways to generate income
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Creative Income Generation
Annie Noble
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OBJECTIVES:
• Reflect on current income portfolio• Assess your assets • Think creatively to identify opportunities and
gaps in the market for new product or services • Have a range of tools to help you to be
creative , innovate and plan
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Innovation
Innovation comes from the Latin innovātus which means to renew.
For the renewal to take place it is necessary for people to change the way they make decisions, they must choose to do things differently, make choices outside of their norm.
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Artefacts
• What are they? • How are they used • How could they be used?
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Sources of income for TSO
ASKING• Donation or gifts – to bring benefit to others &
personal satisfaction• Sponsorship - to bring benefit to others and
exposure to a business• Fundraising - to bring benefit to others &
receive the prospect of gaining a tangible personal benefit
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ASKING, cont...
• Grants – core activities• Grants – projects activities only• Investments – regular donations/giving– loans– shares
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EARNING
Structured market • Service Level Agreement – delivering specified
outcomes• Procurement contracts – delivering public
sector services
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EARNING, cont....
Open market• Trading – consumer market• Trading – B2B market
Other
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Your cultural assets
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DO-IT
D - Define the problemO – Open-minded apply creative techniquesI – Identify the best solutionT- Transform
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Identifying the problem
Complex situations, use:
• Drill down Understanding problems in detail• SWOT or SCOTAnalysis of strength, weaknesses (challenges)
opportunities or threats• PEST analysisUnderstanding ’Big Picture’ - Forces of Change
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Creativity
Stimulate innovation, through:
• Brain storming Generating many radical ideas• Random InputMaking creative leaps• ScamperImproving a product or service
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Decision making
Find the best solutions, use;
• Six thinking hatsLooking at decisions from all points of view• Porter’s five Forces Understanding the power of business solutions• Force field AnalysisAnalysing pressures for and against
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Transform
• Idea• Focus • Buy-in• Develop• Prototype• Implementation• Launch
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Conclusion
There was no shortage of creative ideas in the room for how these products could be used.
We are more open to and can generate new ideas
The challenge is, can we do this within our own organisations!