STUDY

After we’ve created the definitions.

After we’ve shown the local communities our shared values…

We need to study... we need to learn from specific communities, from the ecosystem, and take that knowledge to other communities so they may benefit.

Studying is the key to turning our actions into long-term plans. We study to understand the creative economy better, but most importantly, so creative entrepreneurs can have clear, concise information to better plan their professional futures. The Nomadx Foundation's study approach takes official economic data, specific product definitions (Part of Tetracy Methodology), and econometrics to generate a 360-degree view of the creative economy in each community.

By utilizing our specific approach to the creative economy in conjunction with our value system, we can effectively make congruent conclusions regarding pricing, government support/investment suggestions, and areas of opportunity for a specific creative community.

We utilize official economic data from municipal, state, and federal sources to understand the cost of living in any given community. This allows us to make assumptions based on the reality of a location and create an information set that the community can use.

Creative product definitions are not standard, so the cost structure changes from creative to creative. We utilize our Tetracy Methodology to price specific products, defined in a unique macro-local way, and create a standardized cost definition for the leading creative products of a region.

Econometrics is the quantitative application of statistical and mathematical models using data to develop theories in economics and forecast future trends. Econometrics can help us visualize future issues or opportunities in a creative community.

All methodologies are based on the Nomadx Foundation's value system and the premise that a creative knows what is needed to be happy, fulfilling the creative passion in a forecastable way while living a dignified life. 

The Nomadx Foundation has 8 economist-reviewed and validated Economic Development Methodologies and Methods that have helped shape over 10,000 creative companies. The methodologies are applied directly by the Nomadx Foundation but work better when in hand with a municipal, state, or federal government.

• Entrepreneurship as a mission-driven endeavor.
• Organic Definition of the Creative Economy Method
• Definition of Product Costs for the Creative Economy
• The Creative Business Plan Method
• Tetracy Methodology: Communities of Collective Creative Cognition
• Fast Formalization Method for creative companies 
• Econometric Trend Visualization and Investment Methodology for Government and the Creative Sector
• Minimum Accepted Price Method for Creative Communities

Each community is an independent ecosystem, each one with a unique resource and problem set, each with an exclusive cost of living and creative scene development. Thus, communities should be developed and studied locally.

A specific city might be significantly evolved in terms of economic development of its creative economy, another might have a high concentration of creatives but no fundamental strategies to help empower the community, and another might have a high cost of living that is driving creatives out; thus it’s in the understanding of the individual communities that investigational efforts should be made and methods translated to.

How much should a logo cost in Austin?

What is the minimum price for a photography session in Los Angeles?

How much should you expect to pay a music production engineer in Pittsburg?

One of the key takeaways from the local studies is defining a minimum price for creative products. The Nomadx Foundation believes that any creative has the right to sell their products for as much money as they want, but there should be a floor price, a price no regional creative should cross. This is simply because the empirically determined value is crucial for paying for the regional cost of living. These values are determined based on the results from the application of our methodology studies. These should be public and upheld by the local creatives as an unofficial union.

Establishing a unified minimum price helps creatives plan their creative business better and supports the entire community to value these endeavors correctly.

Municipalities should focus on developing a "local sourcing" culture that seeks local businesses as the primary providers of services, as they can better stand by the quality and originality of their work. The aforementioned will create local expertise in any subject matter and pride from the entire community. This expertise can lead to a community and city being recognized at a much larger scale, benefiting everyone.

A logo design in a high-cost-of-living city like New York should not have a minimum price as in a town with a much lower cost of living like Alamogordo, New Mexico.

Tetracy stems from the phrase "Community Collective Creative Cognition," which is the conclusion of the Nomadx Philosophy to creating a formal, united, creative ethos. It is the way creative companies can unite on a local level, define creative products, develop industry ethics, and collaborate with the entire tetracy global movement.