Sustaining Success in a Weak Economy
August 26th, 2010 by Elizabeth Beskin | Share Blog
5th Avenue Digital recently hit its two-year anniversary. There were no celebrations – we’re too busy working! But the occasion gave us a reason to pause and think about how far we’ve come in the two years we’ve been operating as our own entity. I thought our blog readers might be interested in what’s happened since separating 5th Avenue Digital from Sarah Merians Photography, and what we’ve done to keep our business viable in this weak economy.
Over 10 years ago, while still a part of SMP, 5th Avenue Digital started by doing corporate photography, and we continued to focus on this segment after the split. However, we soon realized we’d need to expand beyond this rather narrow market. The companies officially separated shortly before the start of the economic meltdown. Subsequently, the corporate work (particularly with our larger clients, Lehman Brothers and AIG) dwindled drastically. We knew then that we’d need to regroup, find ways to reach new market segments and develop new offerings, if we were going to survive.
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