ArtBiz101 – Business Plan

Night Watch

Night Watch (from series: Insomnia: Hotel Noir)

…this is the third article on my series of developing an artistic business.  Business plans have been written extensively about, as a written and detailed business plan is what most new companies take to the bank or key investors to get their start-up money. People who invest their money want to be able to see a detailed outline of what the business is and howthey will eventually get their money back. I did not need a business plan for my other start-ups to be able to borrow money, what I needed it for is to make sure that what I was attempting to do made sense. And get myself organized; what, when, how, where and why did I need to do to get the business going?

Over the next month or so I will cover in more detail the parts of the Business Plan: Orgainization, Marketing Analysis, Marketing Plan, Development Plan, Financial Plan, and Exit plan.

Now I want to provide another way to tie in the life strategy with making a living. Another tool that companies and individuals use is to define their vision, their mission and their objectives. The vision is another way to talk about the long term life strategy that I discussed earlier. My vision is to be recognized as an artistic and creative person and make an acceptable living from my artistic ablities.

The mission is getting into more details about what needs to be done, but over a shorter time span, such as over the next five years. My mission is to complete some bodies of work, get noticed by collectors & galleries and start generating the cash flow neccessary to support ourselves.

The objectives are the current details that I feel that I need to complete in order to achieve the mission. My current objectives include completing the series Bad Trip – Sad Trip, getting this series published as a book and getting the series exhibited. I also have as an objective to start bringing together my other series Insomnia: Hotel Noir. A third objective is to get juried into two or three group exhibits (accomplished one so far) and to get my images (probably Bad Trip – Sad Trip) published in an art magazine. I would also like to sell some of my prints, but I do have any specific numbers for this, but just that I have an objective to do it. And now I have a new objective; to learn and understand Photoshop CS3 for toning black & white images:- )

I don’t think that all of this needs to be written in a lot of detail, but putting this on one sheet of paper and tacking it up next to the work space has a way of keeping us on track. I did write my first business plan in a whole lot of detail. We were venturing into some really unknown business territory for us, which was very financially risky for us. The second business plan was really brief in comparison.

Also, business plans are not written in stone, but best in pencil with a really big eraser. Use as much paper as you want. Things in life change, the art world changes, and our interest changes as to what is important and what we want to do. You have to be a little flexible, as it is the rigid trees which get blown down by the storms.

Best regards, Doug

One thought on “ArtBiz101 – Business Plan

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  1. Very practical advice, Doug. A business plan also helps to bring focus to the goal as well. Weekly, I try to add a little bit to my very informal business plan. I don’t need to borrow money for a startup, but I do need to have somewhat of a clue where I would like to go.

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