I was a successful entrepreneur. I ran a family-owned business as the second generation. I had a photo studio and a shop with six employees, one of whom was my wife. I worked in our hometown of about 40 000 people and there was one direct competitor with a similar business model. Revenues were mostly from printing photos and selling photo films as well as doing portraits in my studio or at certain special events such as weddings, as well as sales from simple cameras, photo frames or other basic photo items and equipment. In my opinion, I was a successful entrepreneur. This was supported when checking the satisfaction of my services with customers; I felt they were satisfied, until some changes started to occur. The first significant decrease in revenues occurred when the customers started using digital cameras. In just a few years, the classical films virtually disappeared, which decreased our revenues by about 30 percent; they continued to decrease. Actually, I was anxious about what to do, because there were slowly fewer and fewer customers in our shop. Meanwhile I also had to change and invest in new machinery and printers adapted to digital media.
You are not authenticated to view the full text of this chapter or article.
Get access to the full article by using one of the access options below.