Art Entrepreneurship SeriesBeing a Successful Artist

You’ve made some products …. You want to be in Business …… and, …

…….Now what do you do?

Presented by

Erik Stewart, Business AdvisorAberdeen

Small Business Development Center (SBDC)

During this course, you will:

1. Hear about life as a working artist from three area professionals2. Learn about the different types of business models available3. Discuss legal issues including copyright, liability, and contracting4. Learn about bookkeeping, regulatory requirements and taxes5. Develop a draft of business structure6. Discuss funding sources for small business ventures7. Learn how to accurately price your art8. Create a marketing plan9. Discuss networking opportunities for artists10. Find out all about the services provided by the Thurston EDC11. Receive a preparation checklist for vendor fair at Arts-

Straviganza event at the end

Business Resource Center

• A one-stop resource.

• The BRC offers a suite of services for people looking to start a business, brand new business owners, and even seasoned business owners.

• Staff and counselors of the BRC work with individual business owners to determine what types of services will benefit them.

Small Business Counseling (SBDC)

Co-located with the EDC.

– The SPSCC SBDC is the resource for established businesses to get:

• expert business advising, • management training and• market research.

Procurement Technical Assistance Center (PTAC)

• Thurston EDC is the statewide lead for the Washington State Procurement Technical Assistance Center (PTAC).

• PTAC helps companies achieve contracts for work with local, state, and federal governments.

• In fiscal year 2014, PTAC has helped Washington-based businesses to secure over $300 million in prime and subcontract awards.

SCORE(Service Core of Retired Executives)

• SCORE is a nationwide nonprofit association whose mission is to grow successful businesses through education and mentorship.

• The counselors that work with us are ready to help you.

What kind of business do you want?

Hobby?Hobby business?Profitable business?How profitable?

To support your family?Grow a larger business?

What is art?art[ahrt]NOUN1.the quality, production, expression, or realm, according to aesthetic principles, of what is beautiful, appealing, or of more than ordinary significance.

2. the class of objects subject to aesthetic criteria; works of art collectively, as paintings, sculptures, or drawings: a museum of art; an art collection.

3. a field, genre, or category of art: Dance is an art.

4. the fine arts collectively, often excluding architecture: art and architecture.

5. any field using the skills or techniques of art: advertising art; industrial art.

What is art?Is this art? ……… Why?

• Drawing?• Painting?• Carving?• Dancing?• Singing?

How about these? …… Why?

• Landscaping?• Auto Restoration?• Home Building?• Management of

an art gallery?• Welding?

What does a business need?

• BUSINESS PLAN BASICS

• A Simple Guide To Writing Your Business Plan

Creating Your Business PlanBusiness DescriptionManagement and OperationsMarketing

Industry OverviewTarget MarketCompetitionProduct/ServicePromotion/AdvertisingPricingPlacement

FinancialsFinancial AssumptionsStart-Up Expenses and Sources of CapitalCash Flow, Income Statement and Balance Sheets

Marketing Mix

Product/Service Describe your major services and/or products. Include the most important features and benefits.What special services will you provide? How will you get your products to your customer?

Are you selling directly to them? Selling wholesale? Will you sell on the web?

Marketing Mix

Promotion/AdvertisingHow will you get the word out to customers? What low/no-cost ideas do you have for promoting your business? How will you stay in touch with those who buy from you? You will need to include a promotion/advertising budget for your financials.

Marketing MixPricing

How did you decide on your prices?

Does your pricing fit your market? How do your prices compare to your competitors?

List your products and prices. For products, include what it actually costs you to make that product (cost of goods). For services, list your hourly rate.

Marketing Mix

PlacementWhere are you running your business? From home? An office, or store?

If you are working from home, describe briefly how you plan to organize your space to separate out work and home spaces.

If you have a retail location, discuss the value to your customers. Is this location consistent with your target customer?

Where is the competition located?

Homework

1. Personal Assessmenthttp://wsbdc.org/services/start/start-up-guide/self-assessment/

2. Bring an article to class that interests you (about art as business), and report what you learned from the article. 3. Describe your product(s) –

3.1Written, no more than one page.3.2 Why will customers want to buy from you, instead

of elsewhere?

PERSONAL ASSESSMENT

• PERSONAL, score, BUSINESS, score, LIFESTYLE, score

1. I enjoy competition in both work and play.*strongly disagree2. I often set goals for myself.3. I often meet the goals I set for myself.4. I set limits for myself and follow them (with money, time, projects).5. I am happiest when I am responsible for myself and my own decisions.6. If given a choice, I prefer to work with other people on a project.7. In group situations, I usually take a leadership role (setting the agenda, organizing

duties, etc.). 8. I do things on my own. Nobody has to get me going.9. I work best when there are no precedents for what I am doing.10. I enjoy putting myself “on the line.”