If you’re like many business owners or employees during this shaky economic period, the volatile stock market may be causing you sleepless nights, but an even bigger concern is how to market your interior design business on a lean budget. While your first instinct may be to panic and relinquish your current core strategy, now is the time to examine your business workings and sharpen your approach so that your company remains viable, or is even augmented, before things are inevitably back on the upswing. Now is the time to be proactive about finding contracts and more creative in your approach.

The barter system has origins that are traced back to the dawn of mankind. Early bartering was done on a one-on-one basis and is still used today by practicing third party barter whereby the buyer is not obligated to purchase from the seller and vice versa. The worldwide barter exchange and trade industry has grown to be roughly an 8 billion dollar a year industry that is used by thousands of businesses and individuals as a mechanism to increase their revenues, preserve their cash flows and market themselves to new buyers.

The beauty of all of this? You are able to trade your skill and time for merchandise or skill and labor without a penny leaving your pocket; you collaborate with businesses that you admire and that you have sought out; and you’re supporting your community of artisans and suppliers.

For example, I have a friend in the interior design industry who was working her way up the ladder and had gotten to know a local clothing designer and shoe importer via her shop on the same street. Chat ensued and a trade was made with each business owner whereby she worked on the design of their new interior (they had both just opened stores) and they in turn, provided her with a set amount for clothing and shoe allowance from their stores. She had a year of fabulous wardrobe whenever she had an event and also had the plus of having people ask these business owners “I love your store! Who designed it?”. This self-created word of mouth buzz garnered her new contracts (that stemmed from these two barter jobs) and also served as great new additions to her portfolio. For these reasons, these small business jobs paid off greatly and may have been entirely out of the question if money had been the sole option for trade.

Not sure where to start? Maybe a new wardrobe isn’t so much of a draw for you but you do have a lot of clients that require artwork as part of their design concept; make a list of galleries that fit your demographic and draft up a proposal for them to see what can be arranged. This could be your go-to place for art over the next while, with no purchase being made on your end.

Perhaps you are in need of a revamped website or upgraded brand identity and can barter with a web or graphic design company to improve their working space and aesthetics in exchange for time and design consultation or execution. Do some research and make a list of people that have peaked your interest and that you would be interested in working with collaboratively.

Slow periods are also a great time to get to know your clients, merchandisers and peers more intimately and find out how you can work together to improve a slow economic time. Perhaps one of your merchandisers needs a showroom redone or the cost of a tradeshow booth shared. It’s always best to keep those in mind who have a product that you support and who you enjoy working with as a possible synergistic pairing. These relationships are important, especially during hard economic times, and as we all know, word of mouth referrals mean so much.

Expanding your visibility is also important and a great way to get your face and your name out there is to serve as a mentor. We were all at the point in life when we needed some guidance on how to enter and thrive in the business world and this is a great way to get to know instructors at design schools (possible referrals) and design students (possible interns or employees). Whether you decide to speak to a group of students about your experience or serve as a one-on-one mentor for a budding designer, your efforts will come back your way if your intent is sincere. Besides, with our rapidly changing technology, it might be a great thing for you to have a newly graduated student on your hands to refresh your rusty old methods. Knowledge for knowledge, time for time; you just might learn a little something!

To Be a Mentor or Public Speaker About Your Business:

http://www.interior-design-schools-search.com/

Putting yourself out there in the universe is important and it’s been shown time and time again that if you reach out to others, the universe will come back to you in a positive light. Is there an issue that you really care about in your community? Volunteer not only as a mentor but also as a selfless act where your skills will help to improve the lives of others. This could be helping to build houses for the underprivileged or serve as a guest blogger on a website that is important to you.

Some organizations that would greatly benefit from the time and expert knowledge of an interior designer:

Habitat for Humanity:

http://www.habitat.org/cd/local/

http://www.habitat.org/

Sustainable/Green Design Blogs:

http://www.treehugger.com/

http://www.ecostreet.com/

http://hautenature.blogspot.com/

Volunteer Work Overseas:

http://takemetovolunteertravel.com/VolunteerCambodiaPhnomPenhStreetChildren.html

http://www.heartlandalliance.org/designsfordignity/WhoWeAre.html

http://www.projects-abroad.org/projects/

Also, here is an interesting blog about cause related marketing:

http://causerelatedmarketing.blogspot.com/2008/05/cause-related-marketing-and-high-end.html

A sagging economy is something that affects all businesses and individuals and does not have to risk you having to close up shop or compromise your beliefs in order to find work. However, changing times call for different measures and it’s imperative that you do sit down and take stock of your marketing efforts. Are you doing all you can do? Have you tried to incorporate philanthropy into your business plan, been open to the possibility of new collaborations or gotten back to your web designer on bartering for your badly needed upgrade?

Reluctant to try but still frustrated with your lack of results? Just remember this Albert Einstein quote:

“Insanity is doing the same things over and over again and expecting the different results.”

Ehren Seeland works as a freelance Creative and Marketing Director in New York City and has contributed work to notable organizations and publications such as: AdweekMedia, The Aperture Foundation, ALM, Ava Living, The Cellar Door, Civility Group, Columbia University Press, Nielsen Business Media, and PDN as well as various group and solo gallery shows.

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