Tag Archives: 2014 goals for artists

Artist Goals 2015 – Finding Opportunities + Free Worksheet

Looking for opportunities and threats

Look for opportunities to grow your art business but don’t forget to to avoid the rocks (threats)…

Now is a great time to think about all of the opportunities you could discover and take advantage of in the coming year. This year make it a point to find new opportunities for you as an artist and for your art business as well.

Knowing what your opportunities are gives your art business a solid sense of direction and a basis to develop your strategies. Opportunities come in all shapes and sizes and you need to look for them because they may not be looking for you. Examples of opportunities could be new places and venues to show and sell your work, a better way to produce your art, market trends, or a better ways to run your business. If you think about it there are probably quite a few opportunities you should be looking at right now!

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Artist Goals 2015 – Capitalizing on Your Strengths + Free Worksheet

Singer_Sargent,_John_-_Atlas_and_the_Hesperides_-_1925

Determining your strengths and weaknesses is a key step in creating your business and marketing plans

One of your goals for the New Year should include a little reflection on what you are good at as well as those areas that need improvement. You strengths help you stand out among the competition and have a lot to do with the overall success of your art business. Knowing your strengths allows you to do what you do best and provides the backdrop for your marketing and sales efforts. In business terms – you capitalize on your strengths and manage your weaknesses. Just think about the things that you are really good at and how you can leverage them in the coming year.

Analyzing your strengths and weaknesses is a basic business technique taught in every business school. The concept is simple: you gain market advantage by leveraging your strengths while you work to correct or minimize your weaknesses. Luckily you don’t need to go to business school to get started – all it takes is a piece of paper and a pencil and then making a list of your art business’s strengths and weaknesses.

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Artist Goals 2015 – Create A Budget For My Art Business + Cash Flow Template

Creatives and Business Cash Flow Budget

As your art business grows your need for budgets will grow also

Ok, every business needs a budget – your art or creative business is no different. A budget for your business is sometimes called a cash flow budget or cash flow projection. Typically a cash flow budget covers a 12 month period and is updated over time. The concept is simple – you itemize your anticipated expenses by month and subtract them from the funds which come into your art business from sources such sales or cash injections like loans.

If you have money left over at the end of the month you can apply these funds to future monthly expenses. If you have a deficit at the end of the month you will need to come up with additional funds or possibly defer some expenses to a later date. Budgeting for your art business is really no different than having a budget for your home.

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Artist Goals 2014 – Basic Financial Knowledge – Understanding the Income Statement

Creatives and Business Artist Goals 2014 - Income Statement

Here is a sample Income Statement for an art business – it’s something you need to know!

Ok, an important part of running your art business is to be able to understand your financial statements. You may get these statements from your accounting system, your accountant, bookkeeper or even on your phone! In this article I am going to take a look at one of the most basic yet most useful reports – the Income Statement.

What’s an income statement about?

The name Income Statement may be a bit misleading as this financial report covers not only income but expenses as well. Here is the basic idea behind the Income Statement: Sales (Revenues) minus Expenses equals Profit/Loss. If your Sales (Revenue) are greater than your expenses then you have a profit, if your expenses are greater than you Sales (Revenue) then you have a loss.

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