WEEK 1: CREATING A BUSINESS PLAN
Welcome to the first post in our ‘Concept to Launch’ series! There are many ways to launch your art business. The approach we’ll cover in this series is only one way. Take the bits you want, and leave the rest!
This week, we’ll dive into creating a business plan for your art business. Think of it as a roadmap, outlining your goals, strategies, and action steps. Follow along to set a strong foundation for your creative venture, if it feels right to you.
First up, defining your goals, mission, and strategy. Let’s break it down into some broad, but actionable steps to get you started on the right foot.
- Define Your Vision and Mission
- Vision Statement: What do you want your art business to achieve in the long term? Dream big!
- Mission Statement: How will you achieve your vision? Be specific about your purpose and values.
- Set Clear Goals
- Short-term Goals: What do you want to accomplish in the next 6 months?
- Longer-term Goals: Where do you see your business in 1 to 2 years?
- Understand Your Market
- Market Research: Identify your target audience and study your competition. What are their strengths and weaknesses?
- Trends: Stay updated on current trends in the art world. Use tools like Google Trends and social media insights.
- Create a Financial Plan
- Budget: Outline your initial costs, including supplies, marketing, and any other expenses.
- Revenue Streams: Determine how you will make money. Will you sell original art, prints, or offer workshops?
- Marketing Strategy
- Online Presence: Plan your website and social media strategy. What platforms will you focus on?
- Content Plan: Develop a content calendar. What type of content will you create to engage your audience?
- Implementation Timeline
- Milestones: Break down your goals into actionable steps with deadlines.
- Review: Regularly review and adjust your plan as needed.
By following these steps, you’ll have a solid business plan that will guide you through the early stages of your art business. Remember, a good business plan is a living document – revisit and revise it as your business grows.
Next week, we’ll focus on setting up a creative workspace that inspires productivity and creativity. It can be tricky to stay creative while so much of your focus has to be on the business part of entrepreneurship. We get it. So if you’re looking for a simple tool to use to make sure you stay creative every day – even just for a few minutes – our Colour My Numbers tool will be helpful!
Stay tuned for next week’s tips on designing or updating your perfect art studio!