by Carolyn Edlund
Why do artists fail in business? There are several common causes that can be overcome by adopting an entreprenerial mindset.
One core reason creative entrepreneurs fail is that they assume if they have talent and want to create, customers will come to them. They don’t truly understand that if they want to sell their art or handmade work, they are in business. This requires gaining business skills and marketing/sales skills.
Often, I find that people start trying to sell their work without having clear ideas of what they want to accomplish, whether they will be profitable, or where their work fits into the marketplace. These can cripple or sink a new venture. But that doesn’t have to happen.
Frequently, new entrepreneurs have the problem of a lack of understanding of the marketplace, and the options they have to sell their work. Without some insider information, you may be unaware of buying habits, trends, or opportunities. The last thing I want to hear from an artist is “I wish I had this information years ago, because I would have saved myself so much heartache and wasted time.”
Knowing your possibilities and how industries and markets work is eye-opening. There are many methods of earning money as an artist, including:
As you explore these different ways to structure a business and earn, you will find specialty markets and niche segments within them that might be just right for you. That’s where you can turn your initial confusion into a powerful strategy to enter and sell in the marketplace of your choice, with customers who are looking for what you make.
Fear of rejection
Another reason creatives often fail in business is acting (or not acting) out of fear. Rejection can be a big issue, and that’s understandable. When you put yourself and your work out there in the world, it is open to judgment and criticism. This can cause small business people to avoid self-promotion, fail to follow up on leads, and even lose sales.
Fear of rejection is very real. It’s hard to hear “No” or remarks that may be hurtful. Starting a new business of any type can be challenging, but especially when it is very personal to the entrepreneur. It takes mental toughness to get through growing pains, negative comments, or a false start, and to persevere.
Entrepreneurs face rejection every day in some ways. Keep in mind that it’s business, not personal. Yes, your ideas and designs are your own, and you personally made your work by hand. In the marketplace, shoppers are looking for what appeals to them; most will not want to purchase what you are selling. That is always the case. Yet if you close the sale with a relatively small percentage of people who view your work, you can be profitable in your small business. Sales is a numbers game. Cultivate and close enough prospective collectors of your work, and you can be quite successful.
If you have art or handmade work that is particularly meaningful to you, I suggest that you don’t sell it. Create work in your studio for the purpose of selling it. With this mindset, you can avoid a personal emotional attachment that might disappoint you in some way.
Gaining traction with sales is a process of trial and error, and learning from mistakes. You must keep the right attitude and be able to bounce back from disappointment. Staying the course and staying motivated is essential, and belonging to a community of other artist entrepreneurs can be helpful.
Artist Sam Bernal is a passionate entrepreneur who takes it all in stride. His motto is “Dream Fail Succeed Repeat” and he keeps this message close, tattooed on his arm. I love this positive, upbeat attitude. Stay focused on your chosen goals, and keep going. It will help you move forward on the long journey of running your own successful small creative business.
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