Tag Archives: business planning for artists

Mission Statements for Artists

Image of ancient inscriptions on a gold plaque

While you probably don’t need to carve your mission statement in gold, it’s a good idea to write it down and post it someplace where you will be reminded of why your art business exists

One thing most successful businesses have in common is that have a mission that defines why they exist, what they hope to accomplish and how they interact with the world around them. For many companies this mission is distilled down into a statement or series of statements that describes their mission. Many companies have a formal mission statement which they use to guide their overall actions. For other companies their mission statement may be informal and for far too many companies they don’t have a mission statement at all – probably not a great choice!

Creating a mission statement for your art or creative business is one of the most important and perhaps most difficult tasks in developing your business plan. In a sentence or two you describe why your business exists, what you sell and to whom, and should include a bit of your “secret sauce.” In short, your mission statement is what gets you up in the morning! Your mission statement should guide your strategies and everyday actions so that you can achieve your art business goals. Continue reading

Business Plan Basics Every Art Business Owner Should Know

Why do I need a business plan?

Architectural Plan for Crystal Palace

Just like an architect needs a plan to turn an idea into reality you need a plan for success in your art business. The Crystal Palace

The main and best reason to develop a business plan is so that you have a blueprint to run and grow your business. Imagine trying to build a house without plan. If you are starting a new art business, a plan will help you organize your thoughts and help you tackle the challenges faced by startup businesses. If your art business is established a plan will help you in building a great team and allow you to focus on your most pressing problems, opportunities and initiatives.

A business plan will also be required if you are seeking some type of financing either from a bank or investors. Your plan will show what you intend to accomplish, how you will do it and how much money will be required. More often than not a business will prepare a plan with the sole purpose of getting financing. Your plan is an important tool in the success of your business and should be much more than a document just to raise money.

One of the most often overlooked benefits of a business plan is that it forces you to think about your business in new ways! The skills you develop in creating a business plan are universal and transferable to businesses of any kind or size. Perhaps one of the most important benefits of preparing a business plan is that you will start to think strategically, look at the big picture and develop a critical way of thinking about your business.

What is a business plan?

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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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