The Secret- How to Pay Your Bills in Your Art Business–Article 4

Here you will find a sure fire way to pay your bills  stress free as an artist or art gallery.

My father always said, have three egg baskets. This means always have three income sources to ensure that your business will prosper, no matter what comes your way.  The egg basket theory works for all businesses, especially the arts. These three sources of income can be connected loosely but should not be totally dependent on each other. The next piece of the puzzle is the most important one. Your art career business must have what is called a bread and butter source as the main basket. It should not be the largest source.  The two key words in this scenario are “steady” and “dependable”. If you look closely at all successful businesses, guaranteed, you will find this key component. This is a regular flow of income that brings in just enough to pay for the basics such as supplies, rent, etc. So now you’re wondering, what qualifies as an egg basket? I will share a few ideas that you can get started with. Stay tuned to these articles as they will continue to reveal possibilities that may be suitable for your needs.

If you are a visual artist with your originals selling for thousands of dollars, you could create a system where reproductions or giclees could sell to people who choose to purchase lower priced work from you. The internet has many companies that will sell digital prints of your work for you. Your job is to find the one that fits with your type of art. Don’t get frustrated they are out there. No one can do this for you. It is trial and error, so don’t spend a lot of your funds hunting for one. Many times signing up on line is free. Read the terms. Remember this is just the bread and butter, source. If it becomes the featured source in your business, it will change your focus from unique fine artist to a different direction. For a gallery a bread and butter account could be a small charge for space or a membership fee. If the bread and butter account becomes the main focus, it could change the entire direction and image of the gallery.

Another source for an artist could also be from a small gallery. This gallery is a sure thing for selling a few of your pieces each month. Yes, these galleries are out there. If your heart is true you will develop mutual supportive relationships with people that happen to own galleries. Magic happens every day. Now you’re thinking this sound like a lot of work. Of course, it is. Being artist is a full time job. Your approach determines the difference between a hobby artist and a professional. Make it fun. After you get going, your bread and butter income can pay for a personal assistant, however, in the beginning you are your best personal assistant.

So to recap, you must have a basic (basket) income stream to cover your overhead.” You can be creative with this option but regardless of how you do it, you must -do it. Lean times come to all people at some point in their career. Don’t let it catch you unprepared. If you feel that your business doesn’t need this, great! Still do it. It could be the start of your first charity fund. Giving unselfishly is a whole other article.