It’s Easier Than You May Think!
Helping an artist create an art business plan is one of the most rewarding things to do as an art career mentor. I feel as though I am giving them a magic wand to ensure their career success. The idea of how to create your art business plan may seem intimidating at first. That’s why I wrote this article to show you how the process can be approached step-by-step.
First, view yourself as the CEO of your own artistic enterprise. When you create your art business plan you’ll experience a sense of gratification, knowing you’re on your way to attaining your fullest potential. You’ll gain financial and personal power.
Creating your Art Business Plan is an exercise that takes only a few hours to assemble and it will supply years of stability and security, unlike Dali’s limp clocks.
Here a just a few of the many personal and professional rewards you will gain from having an Art Business Plan
1. You will truly understand your authenticity and unique artistic vision
2. You will become clear about your greatest strengths and capabilities
3. You will have a plan with priorities to achieve freedom and prosperity
4. You will have control over your future rather than leaving it to chance
5. You will build a road map to avoid getting lost and distracted
6. You will automatically develop more self-confidence
7. You will minimize the sting of rejection
8. You’ll be able to work smarter, not harder
Here Are the Four Components
Your Art Business Plan consists of your creative, business and financial activities. The business plan consists of four parts: business statement; production plan; financial plan; and marketing plan.
The Business Statement
This describes your business goals. It includes what you plan to sell and any additional sources of income such as private teaching and merchandising.
The Production Plan
This is about how you plan to produce the art, how long it will take, plus required facilities, equipment, art supplies and hired help. Add office equipment, supplies and business services, such as legal and accounting fees.
The Financial Plan
This important component encompasses the amount of money you expect to earn and the amount needed to begin or expand your business. As a rule, your operating expenses should be less than twenty percent of your income. That should be your ideal goal.
The Marketing Plan
This part describes your market, your customers and your competition. It explains the unique features of your art or art service and benefits to the buyer. It includes where you plan to advertise, what marketing materials you will generate to reach your prospective buyers, and investments you will make to expand your markets.
You Can Do It!
Now that you have an overview of why you need your art business plan and what it is comprised of, you can start the process.
Also read How I Helped An Artist Create A Prosperity Plan
Creating a solid art business plan is such a crucial step for artists looking to turn their passion into a sustainable career. I love how you’ve broken down the process into manageable steps. The emphasis on understanding one’s target audience and setting clear financial goals is spot on.
Hi! Do you have an ebook that outlines the steps in creating a business plan?
Megan, Thank you for your question. No, I haven’t written a book on that subject exclusively. However, my ebook “Achieve Your Art Career Dreams & Goals” covers a wealth of information.
I also recommend articles I’ve written: Helpful Art Business Facts For Every Professional Artist
and How to Create An Art Patron Plan
Great tips Renee! Plans are affected by our personal needs and artists need to ask themselves; Do I paint because I need a hobby, am I depending upon it to earn a living or is about self expression and the money becomes the icing on the cake? For me it is the later😉
Lisa, that’s true. Most artists, not all, who visit this site are looking for ways to earn money to either augment their main source of income or attain their goal of becoming full-time artists. They’re looking for the full course dinner. 🙂