Does the need still exist?
Hopefully, you’ve been able to work through your business model and you understand the need that you can fill with your creative business. The solution you create to help fill your customers’ needs is your true value. To understand if you should still start your creative business or not, you must think about your value and whether it is still strong enough to move forward. So, if the Coronavirus has completely changed the market you’re thinking about entering, your value might no longer exist.
You must be candid with yourself: Does the need for your product or service still exist? You might want to do some research to understand what’s changed.
How has the need changed?
Maybe the need does still exist, but has shifted in some way. Maybe customers could still use your product or service, but your offering would be more valuable if you modified it. For example: Lots of artists are taking full advantage of online classes and online formats to help deliver their value. Consider revisiting each portion of your business model and asking yourself what has changed and what you can expect things to look like in the future.
Are you financially prepared?
Let’s say you’ve decided that the need does still exist, and you’ve thought of ways to adjust your services to match the impacts of COVID-19. There are still a few important questions to ask about yourself: How has your financial situation changed? Do you still have a solid source of income to help you get by in the first few months? Emergency savings? A solid funding source? Re-evaluate your current financial situation to understand if starting your art-based right now is the best choice for you.
Are you emotionally prepared?
Lastly, it’s important to make sure that you are emotionally prepared to take on this already challenging endeavor amidst a global crisis. Becoming an artrepreneur is hard work and building a business takes time. Do you have the emotional capacity to launch your art-based business right now? Entrepreneurs often struggle with putting the brakes on starting a business–but sometimes its needed. Your business will not be successful if you’re not ready to take on the artrepreneur role. It’s okay to take some time to prepare yourself and your business before taking the ‘big’ leap. Remember: Direction is more important than speed.
So should you still start your own creative business in the midst of COVID? It depends on your answers to these questions. Be honest in your dialogue–the success of your creative business relies on your ability to coordinate your vision with reality.
If now isn’t the right time to start your business, that doesn’t mean your artrepreneurial journey is over. Timing is important in the world of artrepreneurship, and you’re doing yourself a favor by evaluating how COVID-19 will affect you and your future creative business.
Follow Artrepreneurship – where ‘art’ and ‘entrepreneurship’ meet for more straight-to-the-point information that can help make your artrepreneurial journey easier!