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Arts & Entertainment

4 tips on how artists can be successful entrepreneurs

From using existing models to identifying your weaknesses, SMU professor James Hart shares his advice.

Update:
This story is part of our focus on solutions put forward to tackle big and small social problems in our communities. Our evidence-based reporting explores challenges in Texas and looks for examples set by people trying to find answers that help.

Think of an artist and someone painting or acting might come to mind. But professional artists can also be entrepreneurs.

They have to learn how to sell their creative talents for payment, and that process must be sustainable so that they can continue making art. That’s what James Hart teaches his students as the director of social innovation, creative and arts entrepreneurship at Southern Methodist University. Hart also advised at a funding fair for artists that Arts Access hosted in April.

“We teach artists to be the principal drivers of their professional careers, to not have to rely on other people for all of their professional opportunities, but to create them themselves to go from job seeker to job giver, and to realize their own creative visions,” Hart said.

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Here are four of the tips Hart shares with his students:

1. Identify your superhero powers and kryptonite.

Hart said it’s crucial to know your superhero powers, or strengths. It’s also important that artists understand their kryptonite, or weak spots, so that they can potentially outsource tasks like bookkeeping.

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“What should you probably not be addressing, because you don’t have the confidence or knowledge to do so?” he said.

The SMU professor advises artists to identify their strengths by writing out a list of TIPS, which stands for talents, interests, passion and skills.

Hart said there are a few questions artists can ask themselves: What tasks do you make look easy? What causes you to lose track of time? What do you like to think about? What skills would people pay you for?

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2. Make sure you’re providing something necessary to your audience.

It’s important for artists to pursue their interests, but Hart said it’s also important that they’re providing something valuable to the community contributing to their needs, passions and desires.

“It’s really important to not just have the focus on yourself, but to serve where there are gaps within the market,” he said.

Hart said that can lead to repeat customers through word of mouth, which grows an artist’s customers or audience.

3. You don’t have to reinvent the wheel.

Hart said working from scratch is often unnecessary given how many resources are publicly available. He urges artists to look at what’s been done before and use existing models.

“I would urge people to not get stuck on thinking what you have to do has to be innovative or pioneering,” he said. “It doesn’t. You have to be able to pay your bills and make more money than you spend.”

For example, want to design your business model? Hart recommends tools like strategyzer.com and exploring YouTube.

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4. Don’t be afraid to start, fail and course correct.

Everyone needs to start from somewhere, Hart said, even if that’s from “bubble gum and shoestrings.”

“Until you’re committed to action, you only have inertia. That can be really hard to get out of,” he said.

Hart said taking that first step forward is important. After taking action, you can always reflect and make adjustments. He said artists need to be curious, learn from their mistakes, review the process and seek help from others.

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Arts Access is an arts journalism collaboration powered by The Dallas Morning News and KERA.

This community-funded journalism initiative is funded by the Better Together Fund, Carol & Don Glendenning, City of Dallas OAC, The University of Texas at Dallas, Communities Foundation of Texas, The Dallas Foundation, Eugene McDermott Foundation, James & Gayle Halperin Foundation, Jennifer & Peter Altabef and The Meadows Foundation. The News and KERA retain full editorial control of Arts Access’ journalism.

Did you know that what you just read was a solutions journalism story? It didn’t just examine a problem; it scrutinized a response. By presenting evidence of who is making progress, we remove any excuse that a problem is intractable.

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