Following up on the Legal & Financial for New Artists posts I’ve been doing for a few weeks, I wanted to give you some further reading for those of you who want to dig deeper into this and establish really strong foundations.
Here are 6 posts that will help you solidify the best legal & financial situation to base your business upon. Pick and choose the ones that feel right for you right now.
I go over a few different types of insurance that may be worth it for an artist. I explain why you might need it and why you might not.
This article explains COGS and Operating Expenses, talks about cash flow, and generally helps you figure out how to do basic accounting for your art business.
This article mentions a few important areas of your finances that block your business growth if you don’t have them sorted. It also offers three great next steps for someone looking to manage the financial side of your business.
In this article, I go over the things you should put in place once you’ve handled the legal and financial – stuff like solidifying your target market and setting up an email list.
I explain what a monthly review is and the specific things you should be doing during your monthly review, like setting goals, tracking particular numbers, and planning the right actions for the next month. There are even specific questions to go through so you can systemize your review.
While this isn’t currently important, it will be in a few months when you’re doing your 2017 taxes. Skim through it now and if it’s helpful, set a notification for yourself so you’ll remember to do these things in the Spring.
If you’re digging all this, you may be interested in my course, The Artist’s Business Plan, which follows up on this stuff by taking you into the strategy side of your business. The course is just for artists and teaches you the elements of a fun & creative business plan that artists really need to sell their art.