Are you seeking a profitable art business?
This is the Art BIZ Podcast on the blog at Art BIZ Success. I assume that, if you’re listening, you are interested in an art business, not just an art hobby.
There’s nothing at all wrong with art hobbies. I highly recommend them. But it’s a whole new ballgame when you turn your art into a business. When you begin asking for money in exchange for your talent.
I want to talk about being a profitable artist. What it takes to not just make and sell art, but to also make money. To ensure that you have a positive net income in your art business. Stick with me.
I’ve talked with many artists who 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.
Businesses, by definition, seek profit. Breaking even with the numbers can only work for so long. If you’re claiming deductions on a business here in the U.S., the IRS is going to come after you if you continue to operate at a loss. See the “hobby loss” rule for the details and talk with your accountant. Look for similar rules if you are outside our borders.
As I said, this episode isn’t for hobbyists. It’s for you if you are ready to step up and be the boss of your art business. To be the CEO.
The CEO (Chief Executive Officer) is the person at the top of a company’s hierarchy. The buck ultimately stops with the CEO.
You must BE the CEO of your art business. Because, like it or not, that’s exactly what you are.
Let’s break down what that means.
