Traditional business plans do not work for artists. Why?

Traditional business plans do not work for artists. Why? Because Artists sell emotions.

Artists are really in the business of selling emotions and that is why traditional business plans do not work for artists and that is also why artists don’t see themselves as entrepreneurs.

We artists actually sell “products” that evoke feeling, products that connect the buyer with their humanity. That’s much more powerful value than a pair of new sneakers or the latest technical gadget.

So a huge amount of money always has and always will change hands in the art market.

According to “The U.S. Bureau of Economic Analysis (BEA) and the National Endowment for the Arts (NEA) estimates, 3.2 percent — or $504 billion — of current-dollar GDP in 2011 was attributable to arts and culture.”

In comparison, “BEA’s estimated value of the U.S. travel and tourism industry was 2.8 percent of GDP.”

What prevents artists from getting their share? Simple. They see themselves just as artists and not as entrepreneurs.

A successful attorney who runs their own practice is an attorney and an entrepreneur. A plumber who sells their services a plumber and an entrepreneur. You get the picture.

“Every artist is an entrepreneur and every entrepreneur is an artist”, so eloquently stated by my friend Dr. ‘E’ (Elliot McGucken) whose “Hero’s Odyssey in Arts Entrepreneurship, Business, and Technology” Course has been featured by The Wall Street Journal, the New York Times, and Business Week.

So why don’t artists see themselves as entrepreneurs?

The confusion is fueled by the loud and unquestioned “Starving Artist” slur, a disrespectful and destructive belief.

Ironically, this slander is continuously broadcast by the same culture and economy that values art so highly, 3.2 % of the US Gross Domestic Product!

So why else are the “manufactures” of these highly valued “products” so very confused?

Because an artist often can’t see beyond how they feel about their product.

Why?

Because unlike traditional businesses, artists sell products that reflect what is deeply and personally meaningful to them.

Target market? That is not something they even mention in art school.

So artists don’t identify with traditional business and traditional business does not identify with artists. Each party is often outright hostile towards each other.

Artists believe that their values are different from business people and they don’t speak the same language. We often hate what we don’t understand and what intimidates us.

However, successful artistic and conventional entrepreneurs have much more in common that they think.

They each have to effectively answer these questions.

1. Who are you and what do you stand for?
2. What do you stand against?
3. What problem is your product solving that is really worth solving?
4. How do you solve this problem in a way that is unique and effective?
5. Who has this problem? Who is your target market?
6. Where and how can you find your target market?

If you want to make art and make money you must be able to answer these questions in clearly. No B.S. No fluff. Your artist statements won’t help.

Can you answer these questions? If not, start to by giving it a try. We all have to start somewhere. There’s no shame it that.

Please share below.