If you are an artist who wants to turn your passion into a profitable venture and selling your art, you need to think about your art as a business. We are not talking about a full-time all-consuming business but about adopting the attitude that is required to start and run a successful business.
How do I find my niche and target market?
One of the first steps in building your practice as a business and selling your art is to identify your niche and target market and develop your brand. Your niche is the specific area or genre of art that you specialise in and that sets you apart from other artists. Your target market is the group of people who are most likely to buy your art or hire your services.
To find your niche and target market, you need to do some research and analysis. You can start by looking at your own strengths, interests, values, and goals as an artist. What kind of art do you enjoy making and why? What kind of message or emotion do you want to convey with your art? What kind of skills and techniques do you have or want to learn? Then, you can look at the existing market and see what kind of art is in demand, what kind of customers are buying it, and what kind of gaps or opportunities exist.
You can also look at other artists who are successful in your niche and see how they market themselves and their work. You can use online platforms, social media, blogs, magazines, galleries, exhibitions, and other sources to gather information and inspiration. Once you have a clear idea of your niche and target market, you can tailor your art and your marketing strategy accordingly.
How do I Price My Art?
Pricing your art can be tricky, as there is no one-size-fits-all formula. However, there are some factors that you can consider helping you to determine a fair and realistic price for your work. These include:
- The cost of materials, tools, equipment, and other expenses involved in creating your art.
- The time and effort that you spend on making your art, including research, planning, sketching, editing, etc.
- The quality and originality of your art, as well as its size, medium, style, and complexity.
- The demand and competition for your art in the market, as well as the current trends and preferences of customers.
- The value and reputation that you have as an artist, based on your experience, education, awards, reviews, testimonials, etc.
You can use these factors to calculate a base price for your art, then adjust it according to your goals and expectations. You can also compare your prices with other artists in your niche and see how they align. You can also experiment with different pricing strategies, such as offering discounts, bundles, commissions, subscriptions, etc., to see what works best for you and your customers.
How do I Promote My Art?
Promoting your art is essential for selling your art. It helps you reach more potential customers, increase your visibility and credibility, and grow your network and fan base. There are many ways to promote your art online and offline. Some of the most effective ones are:
- Creating a portfolio website that showcases your best work, tells your story and mission as an artist, provides contact information and links to other platforms where you sell or display your art.
- Using social media platforms such as Instagram, Facebook, Twitter, Pinterest, YouTube, etc., to share your work in progress, behind the scenes stories, tips and tutorials, testimonials, events, etc., with your followers and engage with them regularly.
- Joining online communities and forums where you can connect with other artists and customers who share your niche or interests, exchange feedback, collaborate on projects, participate in challenges or contests, etc.
- Blogging about topics related to your art, such as inspiration, techniques, trends, reviews, etc., to showcase your expertise, attract more traffic to your website, and build trust with your audience.
- Sending newsletters or emails to your subscribers or customers new work, offers, events, etc., and encourage them to take action or refer others.
- Participating in local or online events, such as exhibitions, fairs, festivals, workshops, webinars, podcasts, etc., where you can showcase or sell your work, network with other artists or customers, or share your knowledge or experience.
The Financial Aspects
Manage your finances and legal matters. Running art as a business involves more than just making and selling your art; you also need to manage your finances and legal matters properly. You should keep track of your income and expenses, set a budget and financial goals, open a separate bank account for your business, register your business name and structure (e.g., sole proprietorship or LLC), protect your intellectual property rights (e.g., trademarks or copyrights), and file your taxes correctly.
Keeping Track of your Art as a Business when Selling Your Art
If you are an artist who sells your work online or offline, you know how important it is to keep track of your art business. You need to manage your inventory, your sales, your expenses, your taxes, and more. But how do you do it effectively and efficiently? Here are some tips to help you organise and streamline your art business when selling your art.
- Use a spreadsheet or an app to record your inventory. You should have a system that allows you to easily track what artworks you have, where they are located, how much they cost, and when they were sold. You can use a simple spreadsheet or a dedicated app like Artwork Archive or ArtCloud to store this information.
- Keep track of your sales and expenses. You should also have a way to record your income and expenses related to your art business. This will help you monitor your cash flow, plan your budget, and prepare your taxes. You can use a spreadsheet, an app like QuickBooks or Wave, or a service like PayPal or Stripe to track your sales and expenses.
- Organise your receipts and invoices. You should keep all your receipts and invoices related to your art business in a safe place. You can use a folder, a binder, or a scanner to store them. You should also label them clearly and categorize them by type (e.g., materials, shipping, marketing, etc.). This will make it easier for you to find them when you need them and to claim deductions on your taxes.
- Update your records regularly. You should update your inventory, sales, expenses, receipts, and invoices at least once a month. This will help you avoid errors, missing information, and confusion. It will also help you stay on top of your art business and make informed decisions.
- Review your performance periodically. You should also review your art business performance periodically, such as quarterly or annually. You should analyse your sales trends, your expenses breakdown, your profit margin, and your goals. You should also celebrate your achievements and identify areas for improvement.
How do I deal with rejection or criticism?
Rejection and criticism are inevitable parts of being an artist. You will not always please everyone or get the opportunities that you want. However, you should not let these setbacks discourage you or stop you from pursuing your dreams and building your business. Instead, you should use them as learning opportunities and motivation to improve your skills and confidence. You should also remember that art is subjective and that everyone has different tastes and opinions. You should focus on finding your true fans and supporters who appreciate your work and value your vision.
How do I balance my art, my business and my life?
Being an artist and running a business can be rewarding but also challenging. You might have to juggle multiple projects, deadlines, clients, finances, etc., while also taking care of your personal life and well-being. It can be easy to get overwhelmed or burned out if you don’t have a healthy balance between your art and your life. To avoid this, you should set realistic goals and expectations for yourself and your work. You should also prioritise your tasks and manage your time effectively. You should also make sure to take breaks and have fun once in a while. You should also seek support from your friends, family, or other artists who understand what you are going through.
Keeping track of your art business may seem daunting at first, but it is essential for your success as an artist. By following these tips, you can make it easier and more enjoyable for yourself. You can also save time and money, reduce stress, and focus more on creating art and selling your art.