"Entrepreneurship is the process of starting a business, a startup company or other organization. The entrepreneur develops a business plan, acquires the human and other required resources, and is fully responsible for its success or failure."
It means, an entrepreneur can be a small business owner, or an international organization with multiple entrepreneurs running the business. Artists can be categorized as entrepreneurs as they start their art business, find their clients to purchase art, maintain and utilize certain resources to their benefits. All in all to their own responsibilities towards their success or failure.
7 qualities Artists and Entrepreneurs have in common
Artists including painters, dancers, musicians, comedians who are skillful at what they are doing and performing at their best level. Entrepreneurs usually refer to professionals who own and run their businesses such as lawyers, doctors, retail owners, developers, or online businesses. Artists and Entrepreneurs are both committed to offering 100% of the time and resources, They are experts in certain area.
One of the winners from Lori McNee from Art and Fine Art Tips says "... what makes me feel professional right now is a well organized studio, business cards with my artwork images on them, memberships in arts professional organizations, acceptance into juried shows, postcards mailed to a growing mailing list, subscriptions to arts magazines, a growing body of work, and people who purchase my artwork.” If you are not sure about "memberships in arts professional organizations, we suggest checking out The FCA, which is one of the most professional membership platforms for Artists to pursue the image of professionalism.
Warren Buffett said, "obsession is the price for profession". Artists and Entrepreneurs have passions about their work and treat them as their lovers: "you think about her, want to see her all the time, can't have enough of her everyday..." Artists love their work and work long hours because they love Art, Entrepreneurs devoted full time and energy to the business because they love what they bring out to the public.
In order to sustain a business, both of the Artists and the Entrepreneurs need to maintain their client base and to meet their clients regularly to build a good relationship with them. When a good rapport is built, most of the time, referrals will come naturally. They both target and serve different demographics: gender, age, ethnic group, and etc. Chacun à son goût!
4) Maintenance of Income / Revenue / Expenses
They both need to maintain the income statement and to file tax / revenue, as well as to budget costs of rental and purchase of appliances, equipment, supplies, Having a well-structured income statement will help forecast future profits and losses.
Needless to say, Artists are creative! Successful entrepreneurs might not be aware of it but 99% of them always think outside the box and find a creative way to express their products. If one way of doing business does not go well, they tend to find other ways to boost the business. Many successful millionaires had failed many times before reaching the ultimate goal and became successful. They never give up.
Same with Artists, they keep practising, creating and transforming until achieving their best possible piece of art or performance. Many of the Artists we love and support are so creative and you can tell they never get tired of adopting new ideas. To name a few Artists we love: Doris Anderson, Evaly Art, Aurélia Bizouard, Dean Cloutier, Donna Giroud, Gigi Hoeller, Shakun Jhangiani, Therese Lydia Joseph, Jan Kasparec, Tasha McNulty, Bjorn Ollner, Heidi Thompson... fabulous work!
6) Local or Global
Some artists and entrepreneurs maintain their business locally; some travel around and sell globally, some even are shareholders or members of some local or international organizations or charities. Whichever market they prefer can make them successful. It is the work they love and they want to show them to their clients, locally and/or globally,
Their names need to be out there for people to recognize and remember in order to increase their client base = to make sales. Building the brand using personal network and social media are common practices. Nowadays, there are so many different ways to elevate the brand awareness. You may check our last two sessions for Power Marketing for Artists - Value Proposition and Power Marketing for Artists - S.M.A.R.T. Marketing for some ideas on how to promote your brand. There is an increase in adoption on online market places, self publishing platforms, and joining non-profit organizations - all are very good tools for Artists and Entrepreneurs to promote themselves.
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