Posts Tagged ‘current economy’
Staying Efficient and Competitive in Today’s Economy
With today’s economic crisis hurting businesses across all industries, the need to be efficient and competitive is more important than ever. Below find some tips to keep you competitive while delivering top results for your clients.
Combine In-house & Outside Expertise
To offer your clients high levels of expertise you will not only need your core staff but you might also need outside 3D artists to supplement your expertise. Specifically, when it comes to 3D modeling services, it is nearly impossible for any organization to employ enough multi-talented and skilled individuals to handle all of its 3D project needs internally.
Bringing outside expertise and skilled talent, such as Flat Pyramid’s 3d modeling and customization services, gives you leverage because you are able to utilize top talent at competitive costs, saving you both time and money.
Offer flexibility
Offer your client options that can help their bottom line. Flexibility does not necessarily mean that you have to cut down your prices. For example, offering your clients the option to charge them by the 3d model instead of charging them per hour offers your clients flexibility. With this option, you can put your clients at ease because they know what the final cost of the 3d model will be right upfront. Offering them a shorter timeline to complete the 3D model can also provide them flexibility
Be willing to adapt to service your client needs
If you find that the demand for your services has gone down…keep in mind that there is always someone who needs your expertise and service. Even in tough economic conditions, there will always be industries that will need to visualize and/or communicate ideas effectively. However, what you may need to do is adapt to offer additional 3D services or target other industries.
In these times there will be industries that will grow and prosper precisely because of the economic conditions. However, keep in mind that getting your team to adapt could be a challenge, but ultimately it will be worth the effort.
Best Practices to Help You Succeed in the Current Economy
Global recession looming, here are some best practices that will help you weather, and succeed in an uncertain environment:
REIN IN COSTS … CAREFULLY. Now is the time to buckle down, but don’t go overboard. Instead, consider outsourcing non-core functions like your 3D models creation.
Vendors may be able to help you streamline functions like accounting, HR and marketing. Avoid deep cuts to key budgets like your marketing and promotion. Instead, utilize a 3D marketplace like Flat Pyramid to buy ready made 3D models at a fraction of the cost it will take for you to make it yourself or hire a 3D artist to make it for you.
You may find that in a slow economy, advertising using 3D content is less expensive and more effective.
BE A LITTLE IMPATIENT WHEN REQUESTING PAYMENT. Patience is not always a virtue when it comes to accounts receivable. Consider offering discounts for early payment or accepting credit cards to get paid quickly for your 3D modeling jobs.
Keep the cash flowing by collecting on delinquent 3D accounts. You can also outsource the “collector” function to companies that specialize in account receivable collection so you can focus on growing your 3D business.
DIVERSIFY, DIVERGE AND DEVIATE. Economic downturns are no time to find that all your eggs are in one basket.
If you have one or two customers that represent more than 10% of your business, it’s time to branch out. Ask yourself …Are there other 3D markets I can serve? Can I sell my existing 3D models to foreign customers to generate additional revenue? Or can I sell my 3D content to customers that are in expanding industries like healthcare or space-technologies?
Expand your horizon and leverage your existing 3D content on a site like Flatpyramid.com to gain exposure, additional business and consistent sales.
You can sell your 3D assets and generate significant revenue. Create a free seller account today, upload and publish your 3D content to take advantage of this opportunity.























