This is the final instalment in my 5-part series for artists who are thinking of entering the art world and starting up in business for themselves. Today I'll be looking at business plans.
For those who have missed my previous 'starving artist' posts, here's what I've covered so far:
-Debts
-Downsizing
-Savings
-Business skills
It's good to have a plan.
Now, before you read on, I know that creative minds aren’t meant to be shackled to a cold, emotionless spreadsheet. You can always choose to be a creative mind in your spare time, after work, as a hobby. However, If you want your artistic life to support you, you’ll need a frickin’ plan!
Writing a business plan, YOUR business plan, is a great way of prepping yourself to understand the market you’re going into, especially if you’ve not had any real experience of the art world before.
The more detail you put in, the more aware you will be about the field you are entering – what galleries will show your work, will print sales be part of your plan, how will you market yourself, how much will you spend each month on this, how will you price your work, who will be buying it, who are your competitors, what art shows are suitable to enter? And so on…
What does the road ahead look like for you?
A business plan is a work in progress. Don’t just leave it on the shelf to gather dust - keep revisiting it and updating it with new information. Change goals accordingly. That way you’ll have an up to date reference to fall back on whenever you need to make a business decision (because we all know how complicated and distracting life can sometimes be).
A good business plan will help you to know where you are and what road you’re heading down and why. When you’re in the thick of it it’s not so easy to see the bigger picture, not every opportunity will help your career equally and sometimes you’ll have difficult choices to make. The plan will keep you on track if you’ve done the homework well enough. It's like a good map...it's there if you need it.
If you have to approach a bank manager for support, then having a well-written business plan will show them you mean business. If you treat your own art career professionally, so will they.
My business plan is all in here, adjusted day-to-day
A last word or two…
Writing about business has never appealed to me. It always sounds a little cold and stale. However, if you do want to get on this path to becoming a full time artist, the business side of things is necessary and unavoidable. It’s what professional artists do.
It’s not a problem if you don’t like that fact. You can continue to practice your art at home in your spare time quite happily (I did this for many years), or you can find an employer who will pay you for your artistic skills - you won’t have to worry too much about the business stuff but you’ll also have much less artistic control over your work (I did this for a number of years too). Either of these options works well for different people.
Ultimately, the choice will be yours to make and you don’t have to make it now. Whatever you choose, I wish you luck and happiness with your decisions.
If you do decide that the self-employed artist’s life is for you, then you owe it to yourself to lay the groundwork diligently.
I will continue writing about the business side of my art, so if you are interested then look out for my 'starving artist' posts. Plus, if you have any aspect that you'd like me to write about, I will be happy to hear your suggestions too. I hope these posts have been a useful starting point…
…and finally, good luck!
Adam.