Bringing creative dreams to life as an artist-entrepreneur

March 8, 2023

Today, artists and artisans must be able to identify multiple revenue streams in order to sustain their careers, bringing an entrepreneurial spirit to their creative processes. By understanding the business dynamics of creative industries in a broad sense, artists and artisans can remain competitive in an ever-evolving landscape. What are the key steps to becoming an artist-entrepreneur?

First, artist-entrepreneurs must understand the ecosystem in which they are operating. This means understanding the role of players such as museums, galleries, auction houses, publishers, investors, collectors and other private buyers. It also means having access to information on pricing, valuation and overall market trends, both with respect to their peers as well as globalized creative industries more broadly.

Second, artist-entrepreneurs must develop an offering that engages multiple audiences, thereby unlocking multiple income streams. This can include selling artwork to different types of buyers, licensing images and music and offering creative and pedagogical experiences such as workshops and seminars.

Third, artist-entrepreneurs must be capable of managing all phases of the creative process, from concept development and production to marketing, distribution and publicity. This also includes research and development, as well as use of digital and social media tools in order to maximize potential reach.

Fourth, artist-entrepreneurs must be able to situate their work within a broader philosophical, social and cultural tradition. In doing so, they become ambassadors for their communities, and play a role in protecting, promoting and transmitting cultural stories and heritage, opening up additional funding opportunities.

Fifth, artist-entrepreneurs must learn how to self-publish their work. Self-publication with selective publishing platforms allows them to retain revenue rights while having their work in the public domain, all while ensuring that precious future intellectual property rights are maximized and retained wherever possible.

The artist-entrepreneur of today has the potential to create a successful and sustainable career. By having multiple income streams, controlling all aspects of the creative process, and self-publishing, artist-entrepreneurs can bring their creative dreams to life. This requires not only understanding the economic landscape for their creations, but also making informed decisions about how best to generate value from their work.

CPM