9 Ideas for How to Thrive as an Artist AND Entrepreneur: Part 1 of the Artist as Entrepreneur Series
This is part one of our series titled, “Artist as Entrepreneur”. For related content, follow @nish_mccree and @thecowrieculture on Instagram. Check out thecowrieculture.com to learn more about our mission and connect with us.
In the age of social media where more artists than in previous decades represent themselves and sell their art directly to consumers and niche art collectors, it is important for us to consider the role of the “artist as entrepreneur”. Being an artist-entrepreneur refers to a hyrid role where an individual not only possesses artistic skills and creative talents but also engages in entrepreneurial activities to manage and promote their artistic career as a business. It involves blending artistic pursuits with an entrepreneurial mindset to create scalable opportunities, maximize artistic impact, and achieve financial viability.
What does it mean to be an artist-entrepreneur? Is it a bad thing? Why does it matter to think about entrepreneurship if you are an artist? The reality is that once an artist decides to sell their artwork, especially if the artist does not have an art dealer or gallery representation to support the business aspect of their art practice, then they are an artist AND an entrepreneur.
This shared artist-entrepreneur role is not a bad thing — particularly when an artist has made the decision to sell her artwork. It is perfectly fine to own the title of artist AND entrepreneur. It does not mean that there is less rigor or commitment to the art practice. Instead, it means that the artist acknowledges the role of entrepreneurship in their art practice, and they want to have a more balanced approach to both aspects of their work. If this sounds like the model you have embraced, then read on and please share your thoughts with us in the comments. This is about a community of practicing artists sharing in the knowledge exchange to help everyone grow in their professional development.
9 ideas that will help you, the artist-entrepreneur, thrive and have an impact with your art practice while gaining greater agency over the business side of being an artist.
1. Embrace Business & Growth Mindsets
An artist-entrepreneur approaches their artistic practice with a business-oriented, growth mindset. They consider the commercial aspect of the creative expression, the art, and they seek ways to monetize their creativity. They understand the importance of strategic planning, goal setting, learning, self-care, meditation, life visioning and making informed, thoughtful decisions about the direction of their artistic career. The idea for the artist-entrepreneur is to advance their artistic career and do it in a way that is authentic and empowering from both a financial and creative perspective. The artist-entrepreneur gives herself permission to create works as an artist and sell some of that work and feel good about it. She knows that once she has decided to sell her artwork, then she must also be business minded enough to manage the financial aspect of her practice until she decides that others should do that for her, and she is growth minded enough to know that the business of art cannot be left to chance or handled with naivety.
2. Seek Creative Liberation
Strive for creative liberation and take charge of your artistic vision and direction. The joy in creative liberation is in part about the opportunity to be wholly immersed in the creative expression and channeling. This kind of creative liberation is even more freely enjoyed when the artist-entrepreneur can enter the practice of making and its inspiration without constant concern about earning a living and sustaining his decision to be a fulltime artist. My message here is to be proactive in managing your artistic projects, decide what you are willing to sell and keep, be deliberate about cultivating a responsible collector base, especially while you are still without a gallery to help you, and then focus on the freedom to make art. Identify aspirational projects and set your intentions and actions around the realization of what your heart desires. This vibrational frequency of freeness is where liberated creativity is infinite, and it is where you can enhance your art practice because you have planned for how you will create financial sustainability. There will be no space in your vortex for wasted energy on how you will ‘make money’, as you will have made a decision around the financial aspect of your work.
3. Embrace Audacity
“You have to be audacious enough to believe in your own creativity, even if no one else does” Maya Angelou. “ If you have decided to sell your artwork, then promote and market it based on your decision about how you wish to sell and keep your artwork, as mentioned in my thoughts on “creative liberation”. Utilize various channels such as social media, websites, exhibitions, art fairs, residency programs, and collaborations to intentionally position yourself, your story, and your artwork to the audience that you decide deserves to experience it. Again, if you have not decided to commercially position your art practice, I still recommend being audacious and extraordinary. However, if you embrace the role of being an artist-entrepreneur, then you are your own brand ambassador and you have the responsibility to decide how you will engage directly with your audience to create impact and establish a distinctive artistic identity.
“You have to be audacious enough to believe in your own creativity, even if no one else does” Maya Angelou.
4. Diversify Your Income Streams
Recognize the importance of diversifying your income sources. Explore multiple avenues such as selling artwork, commissions, licensing, teaching workshops, e-books, art consulting, or non-traditional commercial collaborations such as those realized by Kehinde Wiley and Julie Mehretu with American Express and Amoako Boafo with Christian Dior. By diversifying your revenue streams, you create stability and financial sustainability in your artistic career. It frees your mind to do what I think of as artist patronage projects. Artist patronage projects may include artist founded and funded artist-in-residency programs. Again, Kehinde Wiley and Amoako Boafo are great examples, as both outstanding artists have built artist training programs and foundations to create opportunities for the next generation of emerging artist like some of you.
5. Develop Business Savvy
Equip yourself with essential business skills to support your artistic practice. Artist-entrepreneurs develop a range of business skills including digital marketing to support their artistic practice. This may include branding, digital, automated, recurring, evergreen and scalable assets — D.A.R.E.S, financial management systems, marketing plan, contract negotiation, project management, and understanding legal, intellectual property and copyright considerations. They continuously educate themselves to enhance their entrepreneurial competencies. Building masterminds with experienced entrepreneurs and thought leaders is a way to fast-track knowledge exchange and build a trustworthy community of practice.
6. Embrace Courage, Risk-Taking, and Adaptability
“When I dare to be powerful, to use my strength in the service of my vision, then it becomes less and less important whether I am afraid” Audre Lorde. Embrace calculated risks and step outside your comfort zone to seize opportunities to make an impact. Adapt to changing market trends, technological advancements, and evolving audience preferences. Be open to exploring new mediums, collaborations, or interdisciplinary approaches to expand your creative horizons. Remember, growth happens beyond the familiar, and to paraphrase Dr. Martin Luther King’s quote, taking the first step, even without seeing the whole staircase, is key to progress.
“When I dare to be powerful, to use my strength in the service of my vision, then it becomes less and less important whether I am afraid” Audre Lorde.
7. Cultivate Relationships and Collaboration
Relationships provide opportunities for your artistic growth and learning. Through common ground connections and mentorship, you can gain insight, receive constructive feedback, and expand your knowledge and skills. Relationships and collaborations foster a sense of community and support. Being part of an artistic network or community will enable you to connect with like-minded individuals, build a support system, and share experiences. The idea is to actively engage with other artists, members of your art ecosystem, and organizations that will allow you to deepen your art practice while developing your relationships with mentors and artist collaborators. Artist-in-residency programs provide an excellent opportunity for artists to cultivate relationships and collaborations. Decide what partnerships you will pursue and intentionally set high standards for your collaborations. Always align yourself with trustworthy, extraordinary people and be a trustworthy extraordinary person. This disposition will attract great people into your life, and it will also allow you to serve others.
8. What about gallery representation
Decide if you are open to working with galleries and art dealers as part of your artist as entrepreneur strategy. There are many benefits to gallery representation. I will elaborate on a few benefits in one of my upcoming sessions within this artist as entrepreneur series. When you decide to pursue a relationship with a gallery, if you delve into building your skills as an artist AND entrepreneur now, you will be in a better position to ask key questions and co-navigate your career with your gallery in the future. Understanding the business side of the art market will be a benefit to you. You will be able to better understand contracts, business negotiations, auction sales, and marketing among other critical areas of business in the global art market. Assuming the role of artist AND entrepreneur will serve you as you start your journey with a gallery.
9. Visioning and Dreaming Ahead
Stay connected to your creative essence and develop a long-term vision for your artistic career. Dream big, set intentions, and be disciplined enough to take actions, and build a roadmap for your artistic development. Be persistent, resilient, and adaptable, understanding that success is a combination of talent, relationships, entrepreneurial acumen, and intention and life visioning. Visualize and meditate on how you want to align your plans as an artist and entrepreneur, taking the necessary steps to make your dreams a reality. I find that a spiritual practice is fundamental to creating an expansive and unlimited mental dreamscape. I will explore the topic of spiritual practice in a subsequent part of the artist as entrepreneur series.
Combine your commitment to your art practice with a willingness to learn about the business aspect of being an artist in a global art world. As a result, you will have greater control over your artistic destiny, leave a lasting impact with your art, and create the energy of financial abundance and sustainability in your life.
For related content, follow @nish_mccree and @thecowrieculture on Instagram. Developed in collaboration with AI. Check out thecowrieculture.com to learn more about our mission and connect with us.
