How Cultural Professionals do more with less.. Part 5
OK, so by now we are more efficient at managing resources.
We are more productive but that doesn’t mean the size of the pot has changed, we are simply utilising what we have to great effect.
So how do we grow the pot? The first thing to do is look at expenditure.
Look at every line of expenditure and ask this question:
“Is this line of expenditure aligned with our purpose?”
If not - cut it out.
That may mean staff unfortunately but if they are not delivering your purpose what on earth are they doing working for you?
This is tough and requires utter and complete clarity about your “WHY.”
Spend high-quality time on this, then use this to ask questions of every resource you have.
Once that is done, and you are convinced every penny is going towards your purpose, you can think about growing the pot.
The number 1 way of growing income is building from your strengths. Answer these 2 questions:
“What can we do better than anyone else which might be adapted to generate income?”
“What spare capacity do we have which might be sold to generate an income at no/very little cost/interference with our ability to concentrate on our purpose?”
You might get these answers:
If you are working in a more hybrid way does that free up space in your building/office? What can you do with that space? Rent it out?
Do we have kit we could rent out? Sell?
Can we do what we already do but for a different audience and generate income?
Whatever answers are revealed, test them for viability.
Run a small experiment because always there will be unforeseen costs which will not be immediately apparent. Learn what they are before you make the big leap.
It may be that you require capital investment to make this new line happen. Frankly that is the least of your worries, there is a huge wall of social investment waiting for you as long as you have a robust plan. Funders want you to be more self-sufficient so they are ready to help. Look here for some possibilities.
Here are some ideas to get you going.
and of course