I’ve had the unique opportunity of having a 20 year career in arts education as well as over 7 years working with successful entrepreneurs in business and marketing. What I’ve discovered is such an interesting connection between the two fields. The big realization is that they ARE connected!
All artists are entrepreneurs, but unfortunately most of us were never taught that aspect of our passion. If you went to some kind of arts college or university you were probably enrolled in one or two classes that explained the “business” side of the arts. But after seven years of intense studying and practicing of the subject of entrepreneurship I can tell you that chances are whatever you learned barely scratched the surface.
How do I know? Because the majority of the people I’ve met who work in the arts are not bringing in the level of income they want – the results just aren’t there. If you aren’t getting the results you want in an area of your life you need to consider that something about your actions just isn’t correct or you have missing knowledge that you need to learn.
8 Areas All Artists Need To Develop:
There are several basic areas that you need to understand and manage well in order to produce higher levels of income. They are…
- Communication and HR
- Financial management
- Product/service delivery (this is the part artists are best at)
- Correcting and improving products/service
- Getting new clients
- Legal and executive functions
Your success depends on how well you ensure each of those eight areas are all thriving. You may look at the list and think “I don’t like that stuff.” Well I’m sorry to have to tell you, it is all those components working together as a well-oiled machine that actually is what produces income. What’s more, you will be as successful as your weakest area.
The Value Of Multiple Streams of Income:
Another key things I have learned about creating wealth is the importance of having multiple streams of income. Before I continue you might be thinking to yourself, I don’t care about being wealthy. What I am about to explain doesn’t have to be about buying mansions and fancy cars. It really is about creating a level of financial stability for yourself and your family where you don’t have to worry about money.
The reality is when you are worried about money it is harder to put yourself in a state of creativity, which is important when you work in any area of the arts. Why is it harder? Because more than likely you have an inner voice that throws fear-based sound bites at you that may include….”What if I can’t pay my rent?”, “I wish I had extra money to buy supplies for my class.”, “How am I going to pay for my daughter’s class trip?” These thoughts become a barrier that can stifle your creativity and distract you from pushing your ideas forward.
Having a stable income that covers everything you need plus savings for the future, plus a bit more gives you a level of freedom that is just nice to have! So why not you? I have learned from many multi-millionaires and all of them stress the importance of multiple-streams of income. That way if one income stream has a crash of some kind you don’t have to worry that you won’t survive.
In fact, some of the best income streams can be through network marketing opportunities where you get a monthly commission from selling something to someone once. This becomes passive income which is one of the best kinds of income to add to your multiple streams. The key with network marketing is that you must love the products you are selling. It shouldn’t feel like a sales push – it should be sharing with family, friends and colleagues something you genuinely enjoy yourself.
I recently added this into my own income stream and I get paid a commission every month that just shows up in my bank account for very little effort. If you are interested in learning about what I’m doing please send me an email and I’d be happy to tell you about it!
I hope this post has shed some light into the business of the arts and has helped you identify some areas you may need to work on. The first step is actually becoming aware of what your weak points might be. Step two would be seeking out some knowledge or coaching from someone who actually has proven results in that area. If you have any questions or challenges you are currently dealing with please don’t hesitate to write to me. The world needs what you do and you deserve to be paid well for it too!