Part 1: Introduction

2 Set?

Without an understanding of the cyclical nature of economics and businesses, even the thought of weathering lean weeks, months, or years can overwhelm aspiring artists.  Clear artistic and professional goals and a well-articulated plan may serve as a first line of defense against the uncertainty that innately clouds any predictions into the future; and a keen look inwards at one’s response to generic entrepreneurial barriers-to-entry can offer valuable insight to artists (and students and teachers, alike).

 

The following questions should be addressed after careful reflection; and, they should be revisited periodically as one’s understanding of their market deepens and grows over time.

 

What do I feel most passionate about?

Entrepreneurial ventures and artistic endeavors can be all-consuming—especially when first starting out in a market.  But, for many artists, the feeling of obsession never recedes.  This can make a challenge of striking a balance between personal life and work life, and over time excessive strain can lead to burnout, wherein the artist or entrepreneur has spent too much time and energy in a hyper-focused mindset and decides to scale back or sometimes leave their profession completely.  With a passion for one’s craft, artists can maintain a commitment to their art even after the exhilaration of first starting out as an artist has faded.

 

Do I have other skills that can contribute meaningfully to my career?

 

Entrepreneurs and artists alike can be tasked with taking on many different roles simultaneously—artist, marketer, salesperson, head of Human Resources, accountant, tech support, collection agency: the lists goes on.  If an artist can identify unique skills that can aid in visibility, financial viability, scalability, or more, they can feel more comfortable about thriving during even the early years in the industry.

 

How well do I tolerate financial and professional risk?

 

If you have decided that your art needs to be in your life, this question is not meant to demoralize or dissuade you from pursuing a meaningful career in the arts; but, a realistic understanding of one’s tolerance for meager periods can contribute to long-term stability and avoid falling into the self-fulfilling “starving artist” stereotype.  If tolerance for risk is low, then supplementing artistic endeavors with more stable income streams (perhaps from tangential employment or development of skills related to, but not central to, the artistic vision) might prove beneficial in avoiding burnout and supporting the arts career.

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Arts Entrepreneurship Copyright © by Sean Bailey is licensed under a Creative Commons Attribution 4.0 International License, except where otherwise noted.

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