Guest Post by Lisa Braithwaite
Creative businesses are fun! But, like any other business, creative businesses still require a lot of hard work. Most of us start a business because we’ve found something we are good at and passionate about, and we want to make a living doing what we love – for example, turning a favorite hobby into a business. Unfortunately, we often forget that there’s more to running a business than just doing the stuff we love.
It’s easy to get wrapped up in the creative side of what we do and neglect the business side. If you want to make money and move from “hobbyist” to “entrepreneur,” here are some tips to help you make the transition.
1. Take yourself and your business seriously
Carry professional business cards, and not the free ones that have a generic template and advertising on the back. Put up your own website, even if you’re using a third-party seller. Get over the discomfort of approaching retail shops, galleries, media outlets and other professionals who can help you grow your business.
When people ask you what you do, tell them! “I’m an artist.” “I’m a handbag designer.” “I’m a writer.” Don’t shy away or show embarrassment just because you might be struggling, or don’t yet feel “successful,” or still have a part-time job. Hold your head high and be proud of your creations! When someone admires your necklace say, “Thank you, I’m a jewelry artist.”
2. Charge what you’re worth
If you keep your prices low from fear that no one will actually pay what your work is worth, you might as well stay a hobbyist. You have to take into account your materials, your labor, your overhead, your health insurance (you want health insurance, right?), vacations, family needs, retirement funding, and your general lifestyle. How much money do you want and need to make to have the kind of life you dream about?
You undermine the value of your work when you price according to fear and discomfort rather than looking at your own needs and what the market will bear. You also, by the way, undermine other creative entrepreneurs. Your customer then expects that every other soap maker, graphic designer and illustrator should offer their wares for the same low prices you do. So you hurt yourself by not bringing in as much money as you should, and you hurt the industry as well.
3. Learn all the aspects of your business, even the parts that aren’t as fun
As I mentioned above, most of us start a business out of passion and excitement for what we do. And it’s infinitely more fun to play with paint, experiment with designs, shop for materials, mix flavors and visit galleries than it is to pay invoices, maintain your website, and send out press releases.
I’m not saying that you have to do all of those things yourself. You can outsource any administrative task, hiring contract workers or a virtual assistant for example. Have a bookkeeper do your books, a web designer update your site, a rep sell your products.
However, knowing the basics of how your business works will protect you from quacks, scammers and other shady or unprofessional types. Also, if you’re without help for a period of time, it’s great to know how to add photos to your website, place a magazine ad or balance your books.
Being an entrepreneur can be frustrating, exhausting and gut-wrenching. It can also be exhilarating, rewarding and an amazing learning experience. Take pride in your work, take pride in all of your successes, and be willing to learn and grow. See yourself as a businessperson as well as a creative soul, and your business will flourish.
Lisa Braithwaite is a public speaking coach working with individuals and groups to build their skills and confidence as speakers. Her philosophy of public speaking is that it’s fun, it’s an awesome way to express yourself creatively, and that authenticity and passion are worth more than a thousand techniques.
Before launching her public speaking coaching business in 2005, she worked in the nonprofit sector in Santa Barbara for 16 years as an advocate, educator and trainer, creating and implementing programs, curricula, and training materials for nonprofit organizations. Her areas of expertise in the field of training and education have involved gender equity, domestic violence prevention, media literacy, adult learning principles, and communication skills development
In 1997, she co-founded Body Electric, an organization promoting sports, physical activity and gender equity for women and girls. In 2003, Lisa was honored for her work with Body Electric with the Louise Lowry Davis award, named for a pioneer in womens sports.
A lifelong jewelry artist, Lisa was the creative force and the “LB” behind Elle B. jewelry from 2004-2007, when she made the difficult decision to close up shop to focus on her coaching business.
Lisa received her B.A. in Theater from Pomona College and her M.A. in Education from UC Santa Barbara.
Website: http://www.coachlisab.com
Speak Schmeak blog: http://coachlisab.blogspot.com