here is your 6 step plan to master your art business success

Hey, artist, other than the creative aspect of my art business, my favorite part of owning an innovative enterprise is self-empowerment. 

Why Owning a Business is Self-Empowering 
​For over 20 years as an artist, I never worried about getting laid off or fired because I am in charge of my destiny, which is HUGE for me.

You see, I have an adventurous spirit and have been a nomad all my life. Every four years or so, I uproot and move to a new town or country, and recently, I moved across Canada. 

Having a business allows me to do that, plus it counterbalances my nomadic tendency with stability and security. It allows me to live authentically and yet travel and grow. Isn’t that awesome?

I want to tell you this because owning an art business can mean freedom to you, as to me. You can design your life and business the way you want it. 

It doesn’t mean you can sit on the beach and drink Mai Tai all day long, but you can drink Mai Tai on the beach in the middle of the winter as an escape if you want. 

Do you get it? The person you need to ask for a winter getaway is YOU. You are the boss!

But hold on there; owning a creative business does not mean you can do whatever you want, and the money will keep pouring in because it doesn’t work that way. 

Viability and Sustainability
When you make your talent into a business, besides all the creative and freedom benefits, you also have to ensure your business is viable and sustainable. 

This means you must be mindful of your business, from the making to the marketing and selling.

You also have to be disciplined in your finances and be aware of your revenue and expenses to ensure that you make a profit yearly.  

Treating your talent as a business should be your primary focus because why own a business if you are not going to make money from it? Here’s the thing, the difference between a hobby and a business is that a hobby does not make you a profit, and a business does.

I know it all sounds very hairy right now, but no worries. There is a system to everything, and it takes some organizational skills. 

Here is a System to Help you Build a Sustainable Business

So here is my Yearly system.

• I take a few days to map out my income projection every year.
• Then I plan out revenue streams that will help me achieve my income goal. 
• Next, I plan out strategies to reach each of my revenue streams.
• I then schedule the things I need to do to make them happen. I usually make quarterly goals; it makes achieving goals attainable.
• Lastly, I review my plan and set out to execute the first goal on my list. 

​There, that sounds manageable. Your business projection is a MUST-DO because it gives you clarity and allows you to look at it with a bird’s eye view, giving you a clear perspective to grow a viable business. 

Your Turn
This week, I want you to sit down and plan out your art business revenue projection. 

There are 6 easy steps to do this:

1. Project your income goal.
2. Project a list of revenue streams to reach your desired income. To find out the kind of revenue streams you can add to your repertoire, click here. 
3. Outline each revenue stream and break down the task for each one 
4. Set out a plan to execute each of your revenue streams.
5. Schedule them in your calendar and commit.
6. Review your plan and set out to achieve your first goal. 

When you set out to do this activity, I want you to be realistic about your revenue goal. For example, don’t over-project, don't aim for $100,000 in your first year in business, because you are just planning for disaster.

Be patient and remember that building a viable and sustainable business takes time to cultivate, nurture and grow. 

Artist-Entrepreneur
Being an artist-entrepreneur means being creative in the making, marketing, and selling of your art. These three aspects of your business must coincide to make it a success. That is why setting goals and scheduling them is crucial to the success of your business.

Check your goal projection monthly to ensure that you are still on track, and if something is not working out the way you planned, then it is time to analyze the problem and correct your course.

So that was the basics of how to make a business projection. Can you see how doable it is? 

There is a system to strategize your plan and project your business vitality and sustainability. A good plan is where you have to begin; without that, you are just walking in the dark aimlessly.

If you need help building an art business, join my free FB Group, and I can give you the support you need. 

With Creative Joy,
Ting