One can hardly go five minutes these days without hearing or seeing the words “recession”. Over the past several days I’ve been reading and reflecting on several posts on Katherine Tyrrell’s blog: Making a Mark. Katherine has been providing unique commentary since January about the economic slowdown, however over the past couple weeks, her posts have become more pointed, declaring, “The Art Economy is in an Economic Slowdown.”
Katherine’s posts are unique, I believe, because in her earlier life she was senior finance manager and business advisor. And because I have to work hard to make sense of money matters (I’m a stereotypical math-challenged artist) I’ve been paying extra attention to her art economy posts, in particular one post titled “10 good habits for good times or bad“:
1. Clear identity – Be able to explain who you are, what your art is about and how it’s developing in a clear and confident manner to anybody who asks – or looks at your websites.
2. Focused – Have a clear set of objectives each year which are written down, specific and measurable (eg I want to produce x paintings for y series in time for z exhibition in December).
3. Market-orientated – Know your market, know your buyers and spend at least 50% of your time on marketing your art.
4. Efficient - Save time and frustration by keeping good accessible records of all art produced – from photos to spreadsheets to digital files.
5. Presentation matters – remember that applies whether it’s framed artwork, how it’s wrapped for shipping or emails.
6. Managing the money – Keep on top of what generates the cashflow – both receipts and payments.
7. Work as a team - Make sure you check and don’t assume people can help out when you need them.
8. Time management - Double the time you think you need to get ready for an exhibition.
9. Business records – Make sure you keep records which give you all the information needed for your tax return.
10. Don’t be stupid – Archive important records – and ALWAYS remember to do your computer back-ups.
I think Katherine’s top 10 habits would make an excellent lens through which to re/view one’s own art business goals and in December I intend to do just that: look at them as they impact my own art business heading into 2009.
In the immediate future I’m going to concentrate on number 8, time management, by heading back into the studio to put the finishing touches on work I’m entering in two shows: Reflections of Nature 2008 and the Regina Federation of Artists Fall Show and Sale.
