finance Archives

Healing Your Money Allergy with Hannah Cole (256)

When an accountant asked Hannah Cole “When are you gonna get a real job?” instead of explaining quarterly taxes, it planted the seed of shame that many artists carry around money.

This conversation explores why artists develop allergies to financial conversations, how negative beliefs about wealth prevent fair compensation, and two practical strategies for building confidence with your numbers.

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The investing artist: art, real estate, and legacy with Mary Erickson (223)

Mary Erickson built a thriving art business with heart, discipline, and financial savvy. I was immediately impressed with Mary’s business savvy, as I know you will be. Her art sales have paid for her lifestyle, which is comfortable and adventurous, but far from extravagant. She is a discerning investor and wise with her finances.

Mary says she paints so that she can buy real estate so that she can collect art by other artists.

The investing artist: art, real estate, and legacy with Mary Erickson (223) Read

How do artists make money? (159)

One thing above all else can get in the way of feeling successful: Money. So let’s talk about it—starting with income sources. Where does the money come from?

In this episode, I discuss why you might want to diversify beyond originals, how to categorize your income sources, and how to analyze where the money has come from in the past so you can plan for the future.

How do artists make money? (159) Read

Jen McCaw boulder opal ring | on Art Biz Success

Ensuring a profitable art business (96)

Many artists try to make a little money here and there, and then find they no longer enjoy making art after trying to sell it.

The pressure to make money in a business is real. But businesses, by definition, seek profit. Breaking even can only work for so long. This episode of The Art Biz is for you if you’re ready to step up and be the boss of your art business.

Ensuring a profitable art business (96) Read

The Art Biz ep. 74: Creating a Monthly Report for Your Art Business

We’re obsessed with how many likes we get on social media posts or how many views our videos received.

We are consumed by “getting” more followers and subscribers.

But do numbers equal success?

No, of course not. But they are an easy way to measure what is working well and what might need a little tweaking.

This month in the Art Biz Success community, we’re looking into measuring success.

What do you measure?
How do you measure?
Do the numbers tell a story?

Most importantly, you have to know what success means to you before you can discern any insights in the measuring step. Numbers will never be helpful until there is meaning behind them.

I’ve said before that I believe success is measured by the progress you make, not by comparing yourself to others. Check out The Art Biz Podcast episodes #32 (Success Is Complicated) and #71 (Goals for Artists) for more about that.

This new episode gives you a framework.

The Art Biz ep. 74: Creating a Monthly Report for Your Art Business Read

How much will that juried art show cost you?

It’s so easy to enter a juried show, and you have opportunities flying into your inbox on a regular basis. But there are real costs involved.

It costs more than an entry fee. It might cost the venue commission, your labor, material, and not to mention your emotional energy. Still, there are reasons to enter. Be clear about what you’re getting into.

How much will that juried art show cost you? Read

3 Simple Actions To Avoid The Tax Time Crazies

Even if you work with a bookkeeper and accountant, as I do, there’s still much work to be done this time of year.

Every year I learn something new at tax time that I wish I had known in advance – insights that would have made the filing process much easier.

These three actions are a compilation of what I’ve learned from my experiences and those of my clients, which should eliminate some of the crazies around tax time.

1. Take charge of your business finances.

Don’t rely on a spouse to take care of your business finances. You, as CEO and CFO of your art career, need to know how to manage the money. You must take 100% responsibility for your future.

As sad as it is, I’ve heard many stories about people being duped out of their life savings by spouses who made poor financial decisions. These weren’t features in the paper or characters in a television exposé. These were artists and clients.

At the same time,

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artist's studio with shelves, desk, and easel.

What Your Art Business Will Cost You

When you run an art business, meaning you are aiming for profit, it’s important to look at expenses as well as income in order to remain profitable. Back in 2014, I looked into various (not all – not even education or supplies and materials!) expenses for artists and thought it might be interesting to share

What Your Art Business Will Cost You Read

Organizing Financial Invoices and Receipts Electronically

If you haven’t done so already, it’s time to update your files to 2013. I thought I’d share how I organize my finances electronically to avoid finding more space for paper files. Here’s how my Finances e-file looked a couple of days ago.

Organizing Financial Invoices and Receipts Electronically Read

©Gina Barry Harris, Joyful Tree. Acrylic on wood, 18 x 24 inches. Used with permission.

How to Know It’s Time for a Change

Change helps us innovate and become better leaders. I understand that change can be debilitating for many people. If you are open to change, there are two criteria I advise you to use when deciding whether change is necessary.

How to Know It’s Time for a Change Read

finance

1. Take charge of your business finances.

Consider 44 possible reasons why your art isn't selling.