Diversifying revenue streams

One way that I've read about as an income stream is to take pictures for stock photos.  There is a big market for that and like anything, there are some pictures that are worth more than others.
In this Business Insider article, they say to take pictures of "business, education, lifestyle, medical — anything that happens in life, if you take a picture or video of it, people need it". 
Unsurprisingly, there are businesses that are built around taking valuable stock photos and also business that help newcomers to the game get their pieces sold.

It seems like such a fun thing to do on the side.  A lot of people would love to be a photographer or really enjoy taking pictures and to find out you don't have to be some professional with several thousand dollars invested in gear and training, is really exciting.

"A 2017 Creative Trends Report from Shutterstock showed a rise in nostalgia-related images, and content around cybersecurity and VR."  Also, pictures of people who look like every day people and from all walks of life are in demand.

In my real life, I currently work for a steel mill and I know pictures inside the mill would be in high demand.  Any new publications we have internally all use the same handful of pictures -  for years. Of course, any pictures taken would have to not show a company name or logo and couldn't show any proprietary technology.  

This picture was taken by the woman interviewed in the article and it is one of her higest selling pictures -  it is of her kids and their friends, at a festival.
Something to think about, if you are already taking pictures for marketing -  take a few more and try to sell them as stock photos!

Researching for Marketing

It has been incredibly interesting to do the research for starting a CSA in my area.   in my case, i'm not trying to re-invent the wheel but I can definitely look at making the wheel better and getting it into the right hands.  It has been reassuring to see that others have had the same idea and been able to make a go of it.   It is also nice that there is a real community there of people who want to see other like minded people succeed in that area, as well.  It might seem a little counter-intuitive to share your successes and failures but right now, CSA's and Farm to Table is growing enough that there is plenty of room for people to join and participate.

It does mean that marketing, specializing and diversifying are very important. If you start off like every other company, who will want to buy from you?  What will set you apart?  Most people will look at longevity and price, and probably not in that order. Money talks and people want to save where they can.  That also means spending wisely and not buying from a company that won't delivery or that isn't tested and tried.

In the arena of new business, word of mouth and reviews will make such a difference.

Growing your business

It seems a little strange to be thinking about how to grow a business that hasn't started yet but there needs to be room for growth and development.  A business can adapt and change and needs to, to survive.

One woman, Sheri Salatin, is the marketing director at Polyface Farms.  She talks about how they had to diversify on their farm business.  They had eggs and whole chickens.  They firmly didn't want to cut up chickens and process them more but by listening to customers they realized that a lot of customers wanted the chickens processed more, either due to time or they really didn't realize that chickens had bones.  They noticed a huge increase in sales, once they started cutting up their birds.

Sheri Salatin also speaks about knowing who you are marketing to.  In their business, they realized that 90% of shoppers and food shoppers are women.  As such, they need to market more to women.  And they need to understand how women think and behave.  Notably, most women are talkers. So they make an effort to talk to women and get away from the "beep" society that we live in.  She says we get beeped at everywhere.  Beeps at the checkout at the store, at the gas station, anywhere. Take the time to talk to your customers.

She also says part of this talking includes saying thank you.  Thank you for your time,  Thank you for your business.

She says to look at marketing in smaller, more manageable bites.  Tell a friend, then another friend. Don't try to get 1000 people at once.  Get one. And then one, and then one more.  It will grow from there.

Impulse buying

Impulse buying is something that I think everyone is guilty of but some more than others.
It is hard to resist the BOGO call sometimes!

Impulse buying can be anything from gum or candy at the check out lane to clothes or electronics that seems to be on sale and can't be passed up - they are too good of a deal!

I think the idea of a deal or sale makes the shopping seem more urgent, since it is suddenly a limited time offer.  This is used in many areas including car sales.  How many people have been car shopping, been undecided and have had the salesperson tell them that the price is only good that day or that week?  Lots of people, I imagine.
The thrill of the deal and the pressure makes people more susceptible to giving in to that impulse.

Marketing91  has an article with their 9 ideas that elaborate on impulse buying.
Some people are more prone to enjoying shopping and getting a rush and some emotional fulfillment from any kind of shopping, including impulse buying.

Some people are lured in by a well designed display.  Either calm and orderly or brightly colored, either tactic can work, for the right audience.

Other factors that help are time and money.  Simply put, if you have the time to shop -  you will.
If you have the disposable income at hand, you'll find a way to spend it. 
of course, that doesn't always stop some people.  Which is why we have sch a huge credit card industry and so many people in debt. But that is another discussion.

One other area of impulse buying that I hadn't given much thought to is basically peer pressure.  A friend or loved one will encourage you to get that item.  Treat yo' self!  You deserve it!  It looks good on you!  I'd get it, if it were me.   You alone might not go on a shopping spree in the newest store, but once your friends are all getting several items, it seems that you are almost obligated to get something, as well.

Basically, pay attention to your shopping patterns.  Make a list and stick to it.  Never shop hungry or bored.  Or maybe, allot yourself a budget - $5 for impulse buying.