The 40-40-20 rule.
When I last asked what type of blog posts y’all wanted me to write about. I got an abundance of request that circled around the business of selling art.
That’s a HUGE topic that is near and dear to my heart. I get really jazzed up about the business side of things. I often thought that I’d create an online course for artists, but there are others who do such an excellent job of it, I decided that I’d rather be in the business of selling my own work.
My best advice though, pertains to the 40 – 40 – 20 rule. This is probably the best advice I can give you. Spend 40% of your time on creating, 40% of your time on marketing your work, and 20% of your time on admin.
It’s so important that I have post-it notes on my computer to remind me.
I hate admin, so I try to cut down on the admin time by outsourcing some of it so I can add more creative or marketing time. But as a general rule this is good.
I do my best to break this down into specific days so that I’m not losing time switching back and forth from one thing to another. Monday + Wednesday are my days to create. Tuesday is my admin day where I schedule all my meetings and run all my errands. And Thursdays and Fridays are my marketing days.
Now you can choose to do any way you want. Maybe it’s 4-hour chunks that you break off either in the mornings or the afternoons. Personally, I like blocking off the entire day, so I don’t lose time ‘switching’ my brain from one function to the next. I’ve never claimed to be a multitasker and the mental juggling that happens switching from one task to another slows me down. I like immersing myself in a task and being more laser focused.
I got my MBA in Marketing and Entrepreneurship many moons ago. I remember doing a project for one of my courses on ‘what is the internet’…..that how long ago it was. Today’s world looks nothing like it did for artists back in the 90’s.
One of the best things I did for my business was to take B-School from Marie Forleo. She talks teaches how to deepen your customer relationships, attract more of your ideal customers, increase your revenue, and how leverage your online presence. The course changed the way I think about business in today’s fast paced world.
If you are serious about marketing and selling your work, this is the lady you should be learning from. She offers this program only once a year, the beginning of March.
It was after taking her course that I realized what a huge topic ‘the business of selling art’ really is. I’m happy to offer tid-bits into my world, but for now, I’m going to leave the online courses up to those who have already created masterful courses on the topic.
Does any of this resonate with you? How do you break down all that needs to be done to create and sell your work?
Be well….be creative,
Pricing art work is always a struggle…any suggestions for that? Then there is the fact that if you sell your art in a gallery or store there is commission. I’ve found that stores & galleries can get higher prices than selling your art direct… but then discounting the price to sell direct is a problem especially if you live in the same area as the gallery. Thoughts or advice on this…?
I agree, pricing is always a struggle. That’s where I recommend Marie Forleo’s class. Several things come into play, the most important being who is your customer. And NEVER undercut a gallery. That is the kiss of death for every getting a gallery work with you. That is why we pay galleries commission, they do a good job of selling our art….as you mentioned!