This document provides tools and frameworks to help individuals and organizations think creatively about generating new sources of income. It discusses identifying problems and opportunities through techniques like brainstorming, SWOT analysis, and PEST analysis. Decision making techniques are also presented, such as Porter's five forces and force field analysis. The document emphasizes that innovation comes from renewing one's thinking and being open to new ideas, and outlines a process from defining problems to transforming ideas into implemented solutions.

1. Creative Income Generation Annie Noble

2. OBJECTIVES: Reflect on current income portfolio Assess your assets Think creatively to identify opportunities and gaps in the market for new product or services Have a range of tools to help you to be creative , innovate and plan

3. Innovation Innovation comes from the Latin innovātus which means to renew. For the renewal to take place it is necessary for people to change the way they make decisions, they must choose to do things differently, make choices outside of their norm.

4. Artefacts What are they? How are they used How could they be used?

5. Sources of income for TSO ASKING Donation or gifts – to bring benefit to others & personal satisfaction Sponsorship - to bring benefit to others and exposure to a business Fundraising - to bring benefit to others & receive the prospect of gaining a tangible personal benefit

6. ASKING, cont... Grants – core activities Grants – projects activities only Investments regular donations/giving loans shares

7. EARNING Structured market Service Level Agreement – delivering specified outcomes Procurement contracts – delivering public sector services

8. EARNING, cont.... Open market Trading – consumer market Trading – B2B market Other

9. Your cultural assets

10. DO-IT D - Define the problem O – Open-minded apply creative techniques I – Identify the best solution T - Transform

11. Identifying the problem Complex situations, use: Drill down Understanding problems in detail SWOT or SCOT Analysis of strength, weaknesses (challenges) opportunities or threats PEST analysis Understanding ’Big Picture’ - Forces of Change

12. Creativity Stimulate innovation, through: Brain storming Generating many radical ideas Random Input Making creative leaps Scamper Improving a product or service

13. Decision making Find the best solutions, use; Six thinking hats Looking at decisions from all points of view Porter’s five Forces Understanding the power of business solutions Force field Analysi s Analysing pressures for and against

14. Transform Idea Focus Buy-in Develop Prototype Implementation Launch

15. Conclusion There was no shortage of creative ideas in the room for how these products could be used. We are more open to and can generate new ideas The challenge is, can we do this within our own organisations!

16. Thank you for listening Email: an@entsols.org Phone: 01256 338451 Mobile: 07956 959157