Lessons Learned

What are the lessons you learned at Entrepreneurial Ventures for the Arts? Any light bulb moment? Anything you found extremely helpful? How about things to remember for others starting down this path? Share you ideas or even your questions. You can also e-mail them to us to post.

Funding Environment

What are funders looking for? That is the question on everyone's mind. During a couple recent conversations I've had with cultural organizations, I am starting to hear a different approach. There is a sense and realization that organizations have to change they way they do business. Waiting for the economy to turn around isn't of consideration any more, nor are funders available to fill the funding gaps and deficits. Instead, these nonprofits are looking at a funding mix (like any other nonprofit), but more importantly, focusing on how much money they generate through services, fees, and other activities. They are looking at what they do well, and how they can capitalize and make money. Are you having this conversation? What offers your organization the best chance of generating unrestricted dollars? This is where you need to be looking as we look to the future, especially as you consider starting your own entrepreneurial venture. Remember, share your ideas or questions here.

Power of Networking

There is a challenge to changing the way we do business, and even more in thinking of different ways to generate revenue for our organizations. But our peers offer an opportunity for us to start this difficult process. At the recent Entrepreneurial Ventures for the Arts trainings in Albany and NYC, participants found their peers invaluable resources for discussing ideas and even how to confront potential hurdles. As you consider your own venture, use your peer network. Our peers can be essential in helping make a venture successful. They can help us think through details we would miss. They can be our focus group. As we look at the time and effort involved in putting these ideas in place, this feedback is important and can help you make the most of your limited resources and time.

What are your ideas?

Following up on the recent program in NYC, there were a number of ideas shared. Here a couple from our discussion:

• Art supply store
• DVD production and sales of programs and materials
• Digital photography products
• Consulting work
• Rental space
• Specialized tours

What are your ideas? Share your revenue generating idea here, and tell people what your challenges are. The more we share, the more connections and opportunities we can discover.