Reinvention

Although not specifically appraisal or fine/dec art related, I found this Intuit Small Business Blog post and info graphic on businesses reinventing their products and services to be very interesting, and relevant given the changes in gallery and antiques sales over the past few years. The article points out that confidence levels of many small businesses are at or below recessionary levels.  The interesting aspect is that the smart businesses find a way to reinvent themselves, change direction when needed and move forward.  The info graphic shows that 53% of the small businesses surveyed reinvented their businesses to stay afloat.

I can understand that, as I have done the same over the past year, consolidating my two shops into one, renting a portion of the closed shop while keeping my appraisal office upstairs.  I have also started working more closely with The Potomack Company, the Alexandria auction house to expand my appraisal practice and assist with auction calls and sales.

Take a look at the info graphic (click on it to enlarge), and give some thought to your appraisal practice if it is time to reinvent.

Source: Intuit Small Business