• Home
  • About Renee
  • Writing Services for Artists
  • Articles
  • Interviews
  • Resources for Artists

RENEE PHILLIPS - MENTOR FOR ARTISTS

Helping Artists Achieve Their Fullest Potential

Ask Renee to Write About Your Art

You are here: Home / Articles / 5 Powerful Principles Used By Financially Successful Artists

5 Powerful Principles Used By Financially Successful Artists

By Renee Phillips 2 Comments

Have you ever wondered why some artists are financially more successful than others? Chances are they know that taking care of business requires an awareness and effort beyond the walls of their art studios. They don’t ask what’s easy; instead, they search for what’s better. Here are 5 powerful principles used by financially successful artists.

Wassily Kandinsky, , Blue Mountain, oil on canvas, 194.3 x 129.3 cm,1908; Munich / Monaco, Germany, Location: Solomon R. Guggenheim Museum, New York City, NY, US. Photo: Public domain. wikiart.org
Wassily Kandinsky, “Blue Mountain”, oil on canvas, 194.3 x 129.3 cm,1908; Munich / Monaco, Germany, Location: Solomon R. Guggenheim Museum, New York City, NY, US. Photo: Public domain. wikiart.org

A financial goal that triggers a high level of excitement
will propel us forward now as well as carry us over the long haul.


1. They Choose Highly Motivational Financial Goals

Financial experts know that simply aiming for a dollar amount as a goal does not provide enough incentive to inspire us. What motivates us to succeed is a strong emotional connection associated with the goal. The financial goal must be so personally powerful that it fuels us every day to wake up and work toward achieving it. Examples of short term and long term financial goals might be: to earn money to pay for a weekend workshop retreat with a famous artist; to save what we need to quit a dreaded job and become a full-time artist; or an intense desire to raise funds to build a dream art studio. A financial goal that triggers a high level of excitement will propel us forward now as well as carry us over the long haul.

2. They Anticipate Changes and Act Accordingly

Smart artists are proactive instead of being reactive. They realize changes in the economy are occurring faster than ever, often bringing shocking twists and turns. Whether you are consciously aware of them or not, they may directly impact you. For example, many midsize galleries have recently shuttered throughout the U.S. in favor of using alternative spaces. The boom in the healthcare art market has opened new possibilities in that area and artists have been reaping the benefits. When Facebook changed its algorhythms and had a negative impact on users, artists searched for social media alternatives. Smart artists stay alert and rely on astute forecasters to keep them abreast of such transitions, new art marketing strategies and more. They take advantage of changes to make wise decisions and avoid the pitfalls of unforeseen occurrences.

3. They Know How to Attract and Satisfy Their Loyal Fans

It’s not enough just to make art sales. Financially successful artists know they need to attract, cultivate and satisfy loyal, raving diehard fans. They find ways to deliver more value to their buyers. They know how to attract people that fit their customer profile and keep them in a state of admiration through social media, email newsletters, and mailings. They create new, engaging and innovative works of art that continue to increase in skill and magnitude. They participate in newsworthy art projects and events and share those experiences with their client base. They continuously raise their followers’ curiosity, encouraging them to spread news about them and their art to their friends, associates, and members of their community.

Financially successful artists ask themselves every day,
“What step can I take today to increase my income?”

photo-credit-Ibrahim-Boran from Unsplash
Photo-credit-Ibrahim-Boran from Unsplash

4. They Are Responsible Guardians of Their Finances

Artists who set aside a few hours one day a month to focus on their financial positions are in control of their careers. They utilize new selling techniques to expand their income streams. They find ways to cut costs without sacrificing quality. They prepare for their financial future and adjust their marketing efforts when needed. They maintain orderly bookkeeping records or hire an accountant. They not only have a one-year plan, but because they know changes occur, they review it often and tweak it when necessary. They know that simple and small changes made in intervals can result in higher profits. Financially successful artists ask themselves every day, “What step can I take today to increase my income?”

5. They Know that Marketing Really Matters

We know that the most talented artists are not necessarily the most financially successful ones. As important as it is to focus on creating art of the highest standards, it’s also imperative to use proven marketing and promotion strategies. Based on what marketing experts say, it may take the average potential art buyer more than a dozen times to see your art before they become seriously interested. Successful artists increase their marketing activities and education by reading art business magazines, art marketing books, attending workshops, podcasts, and watching Youtube videos. Then, they apply what best suits their objectives.

Start Now by Improving Your Financial Success

Please consider applying these principles. Establish a compelling financial goal that will sustain you. Cultivate a fan base. Be flexible, stay ahead of the curve, stay informed, and integrate art marketing tools. Take care of money matters and build a lucrative profit-driven art business that you’ll love and enjoy for many years.

Fernando Botero Was A Wealthy and Successful Artist

Fernando Botero, Self-Portrait as Spanish Conquistador (1986). Photo: Fair Use.
Fernando Botero, Self-Portrait as Spanish Conquistador (1986). Photo: Fair Use.

Fernando Botero, April 19, 1932 – September 15, 2023, was a Colombian artist known for his paintings and sculptures of inflated human and animal shapes.

In an interview in ARTnews magazine he stated, “When I told my mother that I wanted to be an artist, she said, ‘You’re going to die of hunger.’” She did not stop him from pursuing his dream and following his inspiration.

During his lifetime his paintings and sculptures sold for millions of dollars and are in the collections of more than 50 museums. The artist was known for having spent most of his time in Monaco, and he also owned homes in Paris and Colombia, Pietrasanta, Italy, and on the island of Evia, off the coast of Greece.

You may also want to read these related articles
How to Create An Art Patron Plan
How to Create Your Art Business Plan


 

Filed Under: Articles, Featured Articles Tagged With: art business advice, art career success, art marketing, financial goals

Find out about Renee’s Writing Services for Artists

About Renee Phillips

Renée Phillips is a mentor and advocate for artists helping them achieve their fullest potential. She provides career advice, writing services, and promotion for artists from beginners to advanced. She organizes online exhibitions as Director/Curator of Manhattan Arts International www.ManhattanArts.com and Founder of The Healing Power of ART & ARTISTS www.healing-power-of-art.org. As an arts' advocate she has served on the advisory boards of several non-profit arts organizations. She lives in New York, NY.

Comments

  1. Susan Ashley says

    02/13 at 9:44 am

    Very helpful to point out awareness how changes in social media mean one needs to be aware. I learned so much two days ago reading deeply your ebook on working with art consultants and health care.

    Reply
    • Renee Phillips says

      02/13 at 11:47 am

      Susan, I’m delighted to know that you learned a lot from the ebook. Thank you for the comment. I love to dig deeply into a subject, discover valuable facts and resources and immediately share them.

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Welcome!

My purpose is to help artists achieve their fullest potential. On this website I share decades of knowledge and experience as an art writer and artist career coach.

I am also the Director of Manhattan Arts International and The Healing Power of ART & ARTISTS where I maintain online galleries and curate exhibitions.

You'll find those links below.

MANHATTAN ARTS INTERNATIONAL

Manhattan Arts International website

As the Founder, Director and Curator of Manhattan Arts International I maintain online galleries and curate exhibitions.

Healing Power of ART & ARTISTS Gallery

The Healing Power of ART & ARTISTS website resources

I am the Founder, Director and Curator of The Healing Power of ART & ARTISTS.

The website features an online gallery, exhibitions, and hundreds of articles and art reviews.

The mission is based on the belief that artists have the power to bring positive change to individuals, society and the environment.

Follow Me on Social Media

  • Facebook
  • Instagram
  • LinkedIn
  • YouTube

Ask Me to Write an Art Review

Praise for Art Reviews by Renee Phillips

Find out about how to apply to have me write an Art Review for you that you can use for your promotion and marketing purposes.

The art review will be published on The Healing Power of ART & ARTISTS website. It will be promoted widely in social media.

Simply tap or click on the photo above to learn all about it.

More Suggested Reading

Scams Aimed at Artists

Artists Beware of Sammers on The Rise! If you are promoting yourself as an artist, have an email address … [Read More...]

Beware of Vanity Galleries

It is A Pay to Play Game In Which Artists Have Much to Lose This article offers advice that is useful when … [Read More...]

The Truth About Fine Art Agents

Let's Dispel Some Myths and Make Way for New Options Every week at least one artist will ask me how and … [Read More...]

Are Your Art Materials Making You Sick?

As an artist it's wonderful to imagine the treasure trove of art materials to choose from to create your … [Read More...]

Where to Find Art Buyers and Meet Collectors

Where and how to find art buyers requires a combination of knowledge, strategy and persistence. However, there … [Read More...]

A Positive Future for Maturing Artists

Steps to Take to Restore Optimism and Bring Peace of Mind The artists I have coached over the years come from … [Read More...]

How to Avoid Getting Rejected in Art Competitions & Mistakes Artists Make

Has your art ever been rejected in a juried art competition? Were you confused because after seeing the … [Read More...]

What Really Is Self-Taught Art and What Does It Mean to Be A Self-Taught Artist?

Definitions, Historical Facts and Artists in This Genre As I'm sure you know by now I write a lot of art … [Read More...]

Do You Think Titles of Art Matter?

This Question Has Attracted Many Different Replies Shakespeare quipped "A rose by any other name would smell … [Read More...]

22 Questions for Artists to Ask Galleries

Exhibiting in a gallery requires an investment of your time and energy on your part. So, before you ask any … [Read More...]

Organizations That Advance The Status of Women Artists

Organizations that serve and advance the status of women artists are essential and cherished resources. They … [Read More...]

How to Approach New York Art Galleries and Any Desired Gallery

Most artists from around the world want to be exhibited in New York Art Galleries. However, many of you are … [Read More...]

10 Best Selling Tips For Artists

If you visit the hundreds of articles I've written for you on this website you'll probably find thousands of … [Read More...]

Sell Your Art To Interior Designers and Corporate Art Consultants

Professional Organizations and More Resources with Thousands of Leads You can expand your art sales by … [Read More...]

Art and Artist’s Statements – Quotes by Famous Artists

If you're like most artists I know, the task of writing your Artist's Statement feels like torture. You may … [Read More...]

The Basics of Public Relations For Artists

An artist recently asked me "Why is it that some artists' careers rise to stardom while other artists, who are … [Read More...]

What to Do When You Receive Publicity As An Artist – 15 Steps to Take

15 Important Steps to Take Immediately After Learning You Are in an Article, Received an Award, Were Selected … [Read More...]

Selling Your Art to Corporations

Imagine your art on permanent display in a lobby or conference room of a corporation. Getting your art into … [Read More...]

Topic Ideas For Your Art Blog Posts

Whenever an artist client asks me how they can drive more traffic to their website (after they have created a … [Read More...]

My Love-Hate Relationship As A Juror / Curator

This is a true confession to you about my love-hate relationship as a juror / curator. During my art career I … [Read More...]

Our Privacy Policy

Click here to read our Privacy Policy.

Writing Services for Artists

My specialty is writing "Praise Quotes" -- Art Statements for artists to use for promotion and longer Art Reviews which I publish and provide promotional services. This is useful for artists who struggle when they have to write about their art. Artists use my writing on their websites, social media profiles, exhibition catalogues, grant … More...

Copyright © 2014 -2025
Renee Phillips
Manhattan Arts International
200 East 72 Street, New York, NY 10021
renee@manhattanarts.com

Copyright © 2025 · Magazine Pro Theme On Genesis Framework · WordPress · Log in