When you want to start a creative business, it’s easy to get lost in thinking about the creative aspect and not the business side of it. But if you want to start any type of business, you need some business skills. The practical side of your business is just as important, if not more so, than the creative side. You might have a creative product or service to sell, but do you know your numbers? When you’re setting up a new creative business, there are some essential things that you’re going to need.
Find a Studio/Workshop/Office
Creative businesses often need a lot of space. Even if you’re a one-man-band, you might need a large space to house all your creations. Or maybe you’re offering a creative service, like workshops or classes, and you need a space for that. That might be one of the first things that you need to look for when you’re setting up a creative business. Whether it’s a studio, office, store, or workshop, you need somewhere to either make products to sell or offer the services that you want to provide to your customers.
Get Essential Equipment
As well as a space to carry out your work, you’re going to need the right equipment. This could include many different things, depending on what your business entails. You might need a sewing machine, a professional printer, screen printing equipment, or maybe a tattoo gun and all of the accessories, from tattoo gloves to ink. Your startup costs will increase with every piece of equipment and supplies that you need. And you’ll also need to consider which supplies need to be replenished regularly so that you can start to think about your ongoing costs.
Sell Your Products or Services
Think about the best model for selling your products or services. Are you going to set up shop in a physical store or concentrate on selling online? Even creative services can often be provided online. While you can’t give someone a tattoo over the internet, you can teach a creative class. You could even mail people packs of materials that they need to make something, then provide a live-streamed class to walk them through all of the steps. Online sales can be cheaper and more accessible for customers.
Be Smart About Finances
Getting lost in the creative side of running your business is easy to do. You’re excited about doing something that you love, and the business element might not be as interesting. However, you can’t run a business if you don’t pay attention to the numbers. You have to know your finances and concentrate on the things that you need to do to break even and then to make a profit. If you don’t stay on top of your finances, you’re not going to get very far.
Starting a creative business might mean following your passion, but it’s not always all fun and games. You need to be on top of the business stuff too! If you have a creative business, what tips would you add?