Tag: business models

The Importance of Distribution

“If content is king, distribution is the kingdom.”

Distribution channels are one of the most important components to an artrepreneur’s business model. Artists are infamously reliant on distributors to share their work with the world. Becoming an artrepreneur is all about understanding how to build a system of content creation and content distribution. So don’t underestimate the importance of distribution.

Imagine building the most epic, innovative, beautiful art piece, only to realize that there was absolutely no way to share it with anyone else? Of course, the satisfaction that comes from being it’s creator is enough to fulfill the artist’s soul. But the artrepreneur is looking to create something incredible that’s capable of filling both their soul and their pockets. In order to do this, the artrepreneur must develop a strategy to share that work with others (in a way that will make them want to spend money to experience it). That’s where broadcast distribution comes in.

Author Derek Thompson wrote a book called Hit Makers that’s all about how things become popular. He looks at trends like baby names and fashion, and hits like Star Wars and 50 Shades of Grey, then develops and debunks theories as to how and why these hits became hits. It’s a great read for any aspiring artrepreneur. But for the purposes of this article, I’ll focus on one of his main points:

“If content is king, distribution is the kingdom.”

Let’s look at a popular example: Erika Mitchell, author of the 50 Shades of Grey trilogy, was a popular fan fiction writer with over 5 million readers before she wrote and released the first 50 Shades of Grey novel. When she released the book on her page, hundreds of her existing fans reviewed it on Goodreads and caught the attention of Random House Publisher. After being published by the reputable publisher, the novel caught the attention of New York Times, which further broadcasted the novel to hundreds of thousands of readers and viewers, who then talked about the book with lots of their friends. This trail is important to follow because it exemplifies the importance of strong distribution channels. Fifty Shades of Grey didn’t blow up just because of its content; it became a true hit because of its strong distribution pattern.

Challenge: Think about and write down as many potential broadcast distribution channels for your product or service as you can. Then, evaluate each with your business model in mind. Think about which are most attainable/feasible and the reach that each provides. Select 2-5 and get to work on implementing them! Consider individuals, organizations, movements, softwares, and more!

For example: At CREATIONS Film, we’re currently working on building up our broadcast distribution channels so that more people can be exposed to our work. Here’s what our first brainstorm looked like:

Potential Broadcast Distribution Channels:
Art museums
Film festivals*
“Choice” playlists (like Vimeo’s “Staff Picks”)
Relevant non-profit organizations*
Movie theater pre-movie ads/content
Artists/celebrities who support our brand/message*

We decided to focus on the three starred* channels first. Now we are doing some of the ground work to secure these broadcast channels, in order to help us reach more people than our own channels alone would allow. To do this, we’ve developed strategies to help us approach and work with each potential distribution channel.

Remember: This process can take weeks, so be patient as you brainstorm and test your ideas. The purpose of this article is to get you thinking about potential distribution channels that can help you share your art-based products or services. Remember to visit and update your business model often, and don’t be afraid to take a chance on distribution channels that might seem out of reach. Good luck!

NOTE: Before you start the ground work to secure large broadcast channels, make sure that you are ready to accept their help. You’ll want to have enough quality content to ensure that once people are sent to you/your page, they will stay, become fans, and hopefully become clients/customers.

Peace, Kayla

P.S. Follow Artrepreneurship – where ‘art’ and ‘entrepreneurship’ meet to get fresh, new content sent straight to your inbox!

The Importance of Stages in Artrepreneurship

A culture of instant gratification, 0 to 100, now or never, is becoming more and more prominent–don’t let it jeopardize your artrepreneurial success.

With false expectations of what it means to build a creative business, many artrepreneurs are left disappointed. I’ve seen dozens of clients face “failure” because of their own failure to address the importance of stages in their entrepreneurial journey. Should they have prepared properly, they could have obtained the success they were looking for.

NOTE: It’s true–not all paths are the same. Some people work through these stages one at a time, some work through multiple at once, and some jump between stages throughout their journey. Do what’s best for you, but remember to at least think through each stage during your preparation process.

PREPARATION

Study the market – Take some time to understand what’s already being offered. Don’t forget to think about competitors and target markets that aren’t immediately obvious. Here are some resources to help you.

Master the craft – Learn as much as you can about your art and the business in which you will operate. You don’t have to become an expert before you start your artrepreneurial journey, but you should work on becoming an expert as soon as you can.

Build a solid business model – Before you jump into launching your creative business, make sure you have a game plan. Better yet, your game plan should be backed by data or experience. And that’s where TESTING comes in:

TESTING

Test your product – As you’re developing your product or service, it’s important to test it as you go. You don’t want to build what seems like the perfect product, only to find out that your customers actually hate it’s design or functionality.

Test the target market -After studying the market, you should have a good idea of who your target customers are; but, its helpful to confirm your assumptions. Approach your target market, have them interact with your product or service, and ask them to provide feedback about their experience.

Test your pricing – As you’re working on testing your product and target market, don’t forget to test out your pricing, too. After you’ve interacted with customers, ask them about the pricing. Would they pay XX amount for this? If they say yes, great–you might even be able to increase the price a bit. If they say no, you’ll know your pricing is too high. Read more about how to price your work here.

LAUNCH

Take what you’ve learned and apply it – As you work through the preparation and testing phases, remember to make note of the insights you discover. Don’t forget to incorporate what you’ve learned into your future business decisions. If that means adjusting your business model or product offering, do it.

Take your creative business full time – Once you’ve gotten to a place where you’ve tested your business model and have secured your first few clients/customers, it might be time to take your business full time. However, some businesses can be launched as a side hustle, so think about what is right for you and your creative business.

Consider looking for additional funding (if applicable) – Depending on your business model, you might need additional funding to start up your business. Read this article to learn more about financing and discover what’s right for your creative business.

Building a successful business is about the long game–build a good foundation and success will come more easily in the future. Take the time to work through each artrepreneurial stage and watch your artrepreneurial vision come to life.

Remember: Your artrepreneurial journey will consist of many levels. Don’t be so eager to get to level 100, that you forget to enjoy the levels in between. Levels 5, 20, and 80 all come with their own satisfactions. Don’t miss out on the journey because you’re too focused on the final destination.

For more straight-to-the-point information about artrepreneurship, follow Artrepreneurship – where ‘art’ and ‘entrepreneurship’ meet.

Peace, Kayla

How to Build a Business Model Around Your Art

VLOG: Thinking about building your very own art-based business? Here are 5 steps for getting started, in under 5 minutes!

No time to watch? Here’s a RECAP:

1. Identify the product or service you can offer

Depending on what kind of art you create, you may need to make adjustments in order to make your art a sellable product or service. Think about your art and interests… What products or services can be created from them?

2. Think about why people would want to buy your product or service

Once you’ve discovered your sellable product or service, you must ask yourself: Why will people buy my product or service? Think about “pain points”–these are things that your potential customers either can’t do on their own, or it’s really hard for them to do on their own. If you can solve a problem for your customers, or fulfill a need or want that they have, you’re in good shape to move on to step #3.

3. Ask yourself how you can deliver your value in a unique way

You’ve found your product or service and your best-fit customers, now you need to think about how you’ll offer your value in a way that’s different from your competitors. This is called your differentiation. Without it, you’ll struggle to capture the attention of your potential customers.

4. Look around for organizations or individuals who can act as your strategic partners

Now that you’ve solidified your value and how you want to deliver it, think about others who can help make your vision a reality. Who can help you create your product, market your product, and sell your product? Who can you partner with in order to make your artrepreneurial journey easier?

5. Visit this article to flesh out your creative business model

If you’ve gotten this far, its time to flesh out the details of your creative business. Visit the One-Page Business Plan for the Artrepreneur to finish developing a creative business model around your art!

Best of luck in your artrepreneurial journey! Follow Artrepreneurship – where ‘art’ and ‘entrepreneurship’ meet to get more straight-to-the-point information that will help you develop your very own art-based business!

Peace, Kayla

Tips for Naming Your Art-Based Business

Naming your business is an important step in developing a recognizable art-based brand. Here are some tips to help you find the “perfect” name!

1. Be clear about the product or service you offer

Every see or hear a business name and have no idea what the company actually does? Be careful with creating a name that is hard to directly relate to your business. Many artrepreneurs choose a descriptor word that follows the core business name to help give customers a hint about what they do. For example: Creations Film or John Doe Design. Others select names that play on the product or service provided. For example: The Sound Station or Artist’s Cafe.

2. Reflect your brand

In this article, we talked about building a brand around your art that acts as the core to your business image. Keep your brand in mind when developing a business name. Does your proposed name fit with the messaging style that you’ve decided on?

Some artrepreneurs name their business first, and then build their brand around that name. This is a slippery slope that can cause you to lose sight of the value you’re trying to offer. Instead, think about the value you’re providing your customers and how your business name can help to enforce it.

3. Be original, but easy to remember (and even familiar)

Originality is often praised in artrepreneurship, but Derek Thompson, author of the book Hit Makers, makes the argument that originality on its own is not king. People are more drawn to things that feel original AND familiar. Familiarity makes a business name easier to remember and creates a positive feeling in the hearts of consumers. So when naming your business, think about names that are somewhat original, and somewhat familiar or recognizable. This meet-in-the-middle method will help you create a business name that is preferred by most consumers.

4. Do your research

So you’ve gone through tips #1-3 and think you’ve found the perfect name for your business. Before you get too attached, make sure you do your research to confirm that the name is not already in use. There are 4 main places you’ll want to visit:

Google

A simple Google search can tell you right away if your potential business name is already in use. Is there another business or blog that floods your search results? If so, you’re going to have a hard time getting to the front page of Google, and a harder time becoming the very first search result that people will see. Check out what already exists online so that you can get an idea of the plausibility of your new business name.

NameCheckr.com

If you don’t see any competing online presences that might threaten the success of your new business name, it’s time to check out NameCheckr.com. This site allows you to simultaneously check all top-level domains and social media sites for your preferred business name. For example: You might want to name your business: Artist’s Cafe. On NameCheckr.com, you can see if that name is available for a .com domain, and as a username on Instagram, Facebook, and Twitter. Using this kind of resource helps you to think about name consistency across your many digital presences.

USPTO

The United States Patent and Trademark Office should be your next stop. Here, you can search all trademarks to understand if your potential business name has already been trademarked. You can search all US trademarks here (search for “Basic Word Marks”).

NOTE: Trademarks rely much on the “Likelihood of Confusion.” If your trademark is too similar to another in your same goods or services category, you may get denied. However, let’s say there is another “Artist’s Cafe,” but the associated goods and services category is Clothing. Since you want to open a Coffee Shop, this other trademark will not be a problem, because it exists in a completely different industry.
But, if there is a trademark registered for “Artist Cafe” in the Coffee Shop industry, you might have a problem. “Artist’s Cafe” and “Artist Cafe” are too similar, and are considered to have a high likelihood of confusion for consumers–so you will most likely be denied a trademark under that name.

State Business Entity Search

The last place you’ll need to visit to confirm the eligibility for your potential business name is your state’s business entity search portal. This search engine will populate any competing business names in your state. If another business has already filed a business license under your potential name, you’ll need to choose another. To find your state’s business name entity search, go to Google and type in: ‘Your state’ business entity search.

Here are the Business Entity Search Portals for both Nevada and Oregon:
Nevada Business Entity Search Portal
Oregon Business Entity Search

Naming your business is one part heart and one (large) part strategy. Work through tips #1-4 as you develop the right business name for your art-based business! Remember: There is no formula for developing the perfect business name, so don’t drive yourself crazy trying to find the perfect one. Once you find a name that checks off tips #1-4, stick with it and get started on building your very own creative business!

Follow Artrepreneurship – where ‘art’ and ‘entrepreneurship’ meet to get more straight-to-the-point information that will make your artrepreneurial journey easier!

Peace, Kayla

One-page Business Plan for the Creative Entrepreneur

We’re going to go through an easy-to-complete one page plan that will help you strategize for your future creative endeavor!

By now, you’ve already decided that it’s time to start your own creative business. If you have a good understanding of your value, message, brand, and available resources, it’s time to get into your first business plan. Don’t worry! We’re going to go through an easy-to-complete one page plan that will help you strategize for your future creative endeavor!

Remember: This one page “plan” is meant to help you develop a business model around your art. A business model is a strategic plan for how your business will operate, and is based around what we discussed in the last blog. (Make sure to revisit this page if you’re not totally clear on your value, message, brand, and available resources.)

I’m going to present you with 8 questions on which your business model relies. Try to answer confidently and succinctly. Your compiled answers will create your first strategic business plan!

Based on your value, message, and brand:

Who is your ideal customer? Mention demographics (age, gender, location, etc.) and psychographics (their interests, their career choice, etc.). Is your target customer a person or a business? Be as descriptive as you can. If you think you might have multiple target markets, write down each one so that you can test out your expectations in the first few months of operating your business. Learn as much about your potential customers as you possibly can!

How are you going to communicate with your ideal customer? Think about what channels you’ll use to make them aware of your services. Channels can be: social media, website, traditional marketing like billboards, word-of-mouth through referrals, etc. Also think about how you are going to communicate with your customers once they are already your customers. How will you work with them? Maybe it’s online, over the phone, in-person, or something else. Don’t forget to think about which methods will help you share your value and brand most clearly.

How are you going to deliver your value to your customers? If you’re selling a product, how are you going to deliver that product? If you’re selling a service, how will the customer receive that service from you? What does the process look like? Customers will want to know what working with you looks like, so plan out your process strategically.

What skills do you need in order to create and deliver your value? Most likely, you already have the skills you need to create your art-based product or service. Try describing them. Also think about skills you will need in order to promote and deliver your value to others. You might need website-building skills, networking skills, etc. Try to think outside of the box here.

What resources will you need in order to create and deliver your value? You’ve already evaluated the resources you currently have. Are there any others that will help you to build the art-based business you envision? Think software, partners, space, etc.

What is it going to cost to create and deliver your value? You’ll need to consider materials, travel, your own labor, and more. Write down all of your expenses, so that you can decide on how much to charge your customers. Your prices should be higher than your expenses, so that your business can make a profit. (If you’re pursuing a growth company, you may need a large amount of money in order to start-up. We’ll talk about potential funding sources in future posts. If you’re pursuing a lifestyle company, costs generally come about for every new project you work on.) Understand when your expenses will appear and how you will pay them.

How are you going to make money? Will you have multiple product or service offerings? How much will you charge for each? How will you collect the money you’ve earned?

What does the competition look like? It’s crucial to understand what the competitive landscape looks like so that you can know if: your prices are attractive, your value and branding are truly unique, how others communicate with your potential customers, and so much more. Start with a Google search, ask around your creative community, and learn as much about your competitors as you possibly can.

So… that was a lot, huh? Don’t worry. Creating a strategic business model takes lots of time and thought, but these questions will help put you on the right path. Look at your written answers and see where gaps exist. This is where you will want to focus your attention before officially starting your business. You might want to get going right away, but these gaps can cause you to be unsuccessful in the future. If you want your business to succeed, building a solid strategic business model is key. It’s like they say: If you fail to plan, you’re planning to fail.

This blog is going to cover each of these questions in more depth, so that you can do your best to prepare your art-based business. Follow below and continue building the creative business of your dreams!

Peace, Kayla

P.S. You’re building a brand that’s going to last. Be patient.

P.P.S. Strategyzer.com’s Business Model Canvas is the method from which this one-page plan was derived.