I probably don’t have to tell you that selling only original works of art doesn’t always pay the bills. Sales can be seasonal, galleries can shut their doors, or the economy might tank.
This is why I am all for artists having multiple streams of income – when it makes sense.
Multiple Income Streams for Artists
An income stream is a source of money.
Your income streams might include employment outside of your art business, but I’m going to focus on diversifying how you make money from your art.
Selling original works of art is probably the most appealing way for you to make money from your art. Other avenues include, but aren’t limited to, teaching, licensing, and selling reproductions.
Sometimes multiple income streams go together.
For example, if you teach art, there might be money from both online and in-person classes. Additional funds might come from how-to books and information products.
They’re all information based and marketed to the same audience.
Likewise, you could probably market products with your art on them
Are you like a lot of my clients? You want to do/try it all. You’d like to be everywhere but time runs out.
Lack of time is the number one anxiety for most of my clients. It’s not fear of rejection or failure or even potential criticism. It’s there’s not enough time in the day to do it all.
Like you, I’ve been overwhelmed with possibilities for business development and strategy.
Just three years ago, I remember sitting down and crying to my husband that I couldn’t work any harder. If I wanted to increase my impact in the world, I would have to work smarter. That’s when I hired a serious business coach and got back on track.
Here’s what I’ve learned about dealing with overwhelm and a seeming lack of time.
1. The important stuff always gets done.
I don’t know how, but I know why the important stuff always gets done. It gets done because it’s important! I recognize its value and somehow manage to make it happen.
Knowing this truth is a relief.
2. There is no such thing as time management.
You can’t manage time. The clocks keep ticking and the sun continues to rise and set. There’s not much we can do about that.
But we can manage ourselves. Here are a few ideas for doing this:
A checklist can keep you on task for your exhibition.
The tasks on your checklist, and the deadlines you give them, will depend on the following:
– The type of exhibition (juried, self-curated, open studio)
– If the venue is in charge of sales and refreshments or if that’s up to you
– Whether you’re showing with other artists
– How much time you have to plan
Do It Now
Set a goal. What would you like to have happen at this exhibition or as a result of it?
Plan your budget. How much can you afford to spend on materials and framing? How much can you allocate to promotions, printing, and a reception?
Identify a theme and
If you would like to increase your income in 2015, you must take charge of your art business.
You have to stop waiting for things to happen and start putting all of the pieces into place, so that the good stuff can settle in.
Liz Crain, Clay Dollars. Dollar bills, clay slip, underglazes and underglaze pencils, electric oxidation, 2.5 x 6 x .25 inches. Used with permission.
Money doesn’t just appear when you need it. You have to work for it. [Tweet this.]
In my experience, one of the best things you can do to improve your chances of making more money is to create a plan: an income-boosting plan.
Where Is The Money Coming From?
In order to boost your income, you first have to know what it is, historically, and where it came from.
For the purposes
You know that I’m all about action.
But I’m also about reading, researching, and learning, which is a good thing because my primary work is teaching. You have to learn before you can teach, although you’ll learn even more by teaching.
And there comes a time when you must stop the learning phase and start taking action – however imperfect it might be or however reticent you might feel.
Students at my workshop in Burlington, VT commit to taking action.
I think we stay in information-gathering mode rather than taking action for one of two reasons:
1. We’re afraid to make a mistake (failing). 2. We don’t have enough fire in the belly to get moving. We aren’t hungry enough.
Let’s look at these.
Go Ahead and Make Mistakes
You don’t learn simply by reading books and taking classes.
Questions, when used in business planning, are more powerful than statements because they make us think and formulate our own answers. They encourage us to consider our situation, environment, abilities, and resources. See if any of these serve you at the moment.
One of the most-used business metaphors is the ladder of success. It’s assumed that you start at the bottom and work your way to the top in a nice, progressive fashion. A few months ago, I woke up with the epiphany that this is not how it works.
Yesterday I taught a complimentary webinar for artists titled Surefire Income-Boosting Strategy for 2014, in which I shared the 5-step process I use every year to increase my income. And although our businesses are different, I show how you can apply the same process to your art business – immediately. If you didn’t attend, you can access the replay through January 15 on this page.
My word for 2014 is clarity. I didn’t sit down and randomly select a word or force it. I paid attention to what’s going on in my life. I listened to what I was asking for. I have been feeling a little discombobulated and even unsure about how I can best serve you. In the last few months, I found myself repeatedly asking for clarity in specific situations.