May 15, 2023

The Artist’s Guide to Making A Business Plan

Creating a business plan can be a lot of work, but it is an essential step for any artist who wants to start or grow an art business. Your business plan is one of the most important tools you can have in your arsenal. This document outlines your goals as an artist’s business, the steps you need to take to achieve those goals, and the resources you need in order to be successful. It also serves as a roadmap or GPS, helping you think through all the necessary details of starting and running a successful art business.

A well-written business plan can help you to achieve your goals and build a successful art business. It forces you to think through all aspects of your business in great detail. It will help you avoid costly mistakes, identify potential problems, and make sound decisions about your business. Having a business plan can also be a valuable tool for raising money, attracting investors, and building a strong team.

"If you don't drive your business, you will be driven out of business." -Brian Tracy

Let’s plan out your business plan:

Define your goals and objectives
Develop a marketing strategy
Track your progress and make adjustments as needed
Secure funding
Attract investors
Build a team
Be realistic about your goals: It is important to set goals that are achievable and measurable.
Do your research: Before you start writing your business plan, it is important to do your research on your target market, competition, and industry.
Be specific: When describing your products or services, your target market, and your marketing strategy, be as specific as possible.
Be concise: Your business plan should be concise and easy to read. Avoid using jargon or technical language.
Get feedback. Once you have written your business plan, get feedback from others, such as friends, family, or business professionals.
Update your plan regularly: Your business plan is a living document that should be updated regularly to reflect changes in your business.

A business plan should include the following sections:

Executive Summary: This section should provide a brief overview of your business, including your mission statement, target market, and financial projections.
Products and Services: This section should describe the products or services that you offer.
Market Analysis: This section should analyze your target market and identify your competition.
Marketing Plan: This section should outline your strategy for reaching your target market.
Management Team: This section should describe your management team and their experience.
Financial Plan: This section should provide financial projections for your business.

"Action is the most important key to any success" -Tony Robbin