Making a Profit from Editions, Prints and Multiple Copies

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One business model for your art business could be producing and selling a series of prints, photographs, sculptures or multiple copies of any artwork.  The advantage of this model is that it allows you to leverage the work or designs you have created and achieve some level of efficiency and predictability in producing the copies.  An edition can be either limited or unlimited in the number of pieces produced.  Before you embark on producing and selling multiple copies or prints, it is a good idea to know what your costs will be and how you should price the works so that you will make a profit. Continue reading

Testimonials and Referrals – Powerful Marketing Tools

Sculpture

Handshake between Joseph Addison and Richard Steele

Testimonials and referrals can be powerful tools to help you build your brand and sell more art.  A testimonial is either a written, verbal or video statement from somebody about the virtues of you and/or your art. Testimonials can take the forms of a letter, an online post, or a review. Today we are seeing testimonials in the online world in such services as Yelp as well as the many sites such as Amazon that allow visitors to post comments and reviews. For many companies these online reviews may mean quite a lot for their brand and their success. Continue reading

ROI: A Tool To Help You Make Better Business Decisions

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Every business is challenged with making decisions and your art business is no different. Some of the decisions you make may be creative while others are more business related. More often than not these decisions will have financial implications that will affect your overall profitability.

In making most business decisions you will be faced with choosing among various alternatives. How do you choose the best? In this article I will take a look at a tool that will help you choose among various alternatives called Return on Investment (ROI). You don’t need a finance degree to understand Return on Investment, it’s just a matter of understanding a basic concept and applying some simple math. Continue reading

Business Plan Basics Every Art Business Owner Should Know

Business of Art Sculpture

From an idea and a plan came the Crystal Palace, Hyde Park London 1854

Why do I need a business plan?

The main and best reason to develop a business plan is so that you have a blueprint to run and grow your business. Imagine trying to build a house without plan. If you are starting a new art business, a plan will help you organize your thoughts and help you tackle the challenges faced by startup businesses. If your art business is established a plan will help you in building a great team and allow you to focus on your most pressing problems, opportunities and initiatives. Continue reading

Direct Mail For Sculptors

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Direct mail is often referred to as “junk mail” but if it is used properly it is anything but “junk”. The usage of direct mail has been declining for many years brought on by the recession and a shift towards digital media. There may not be a better time to use direct mail as the competition for space in the mailbox has declined and studies have shown that direct mail can be very effective. Continue reading

The Competitive Advantages of Your “Secret Sauce”

Success in business is a lot like sports when it comes to competitive advantages

Success in business is a lot like sports when it comes to competitive advantages

Competitive advantages are the things that allow a company or organization to outperform its competitors in the marketplace of products, services and even ideas. These advantages can take on many forms from brick and mortar facilities to more intangible things like an organization’s reputation and customer base. Continue reading

Production & Operations Basics for Sculptors

sculpture

“While your art business may not require an assembly line,
it can certainly benefit from good production and operations management”

As a sculptor you make and create things and in many respects you have the same challenges as any other company that makes a product or provides a service. There is a field of study and practice in business management that concerns itself with making things called “Production and Operations Management”.

Production and Operations management is all about managing all of the things that go into making a product or service like materials, supplies, technology, methods and labor (called “Inputs”) and transforming them into a finished product or work of art (called “Outputs”). The overall goal of production and operations management is to produce goods and services in an efficient, cost effective and profitable manner while maintaining the desired level of quality – a goal you should have for your art business as well! Continue reading