Paul Allen, the co-founder of Microsoft, was an avid musician and art collector. One of the most successful entrepreneurs of all-time was also one of the loudest advocates for the arts. But do art and entrepreneurship have anything in common? Any crossover?
There are plenty of people who think so. The term “Artrepreneur” has come to prominence in the last few years, but what does the word actually mean? Here are some of the characteristics:
- Passionate about creating their art
- Business savvy and tenacious
- Desire to provide entertainment or emotional experiences for others
- Interest in finding a way to turn their art into a sustainable venture
Beyond these basic attributes, these artists will vary in the art they produce, the mediums they use, and how they turn a profit. Traditionally, many think that the artist and the entrepreneur don’t really relate. One is interested in creating and the other is interested in making money. It is essential to find the commonalities between both of these labels, however, if you desire to make money from creating art.
Contrary to popular belief, artists and entrepreneurs have many personality traits in common with one another. Author Peter Spellman has compiled a list of ways in which musical abilities can translate to business success. The list included aspects like self-discipline, persistence, focus, ability to handle rejection, and a strong work ethic.
If it was taken out of the current context, the list of traits above could apply to both artists and entrepreneurs. The overlap is evident. It seems that combining artistic pursuits with entrepreneurial habits is a no-brainer. This is a simple concept but can be difficult to put into practice.
Despite the obvious similarities, artists aren’t always successful entrepreneurs. They are quite frequently the opposite. Moving forward into the future it is important to teach individuals to express themselves artistically, as well as teach them about some entrepreneurial practices. The two go hand-in-hand.
“All our dreams can come true if we have the courage to pursue them.”
Artistic pursuits are often stigmatized in traditional platforms. Students who are pursuing or earn an art degree are not always viewed positively. According to a recent report by BFAMFAPhd, a degree in the arts rarely leads to an actual career in the arts. Other professions are afforded opportunities that artists just don’t have. This article from Benjamin Wolff refers to lawyers, doctors, and accountants as some examples of professions that have established practices. An individual can earn a degree in one of those fields and join a practice that already exists. Artists can’t do this.
Art is powerful, however. There are inherent advantages associated with artistic pursuits. They inspire people and encourage them to connect with their emotions. Artists, if they can harness this power, have a clear asset that other professionals don’t have. Artrepreneurs should focus on the emotional quality of what they are selling. Appealing to a consumer’s emotions is key. Once a potential lead has an emotional connection with what you are selling, it is much easier to convince them to buy it.
We believe artrepreneurship is essential to the future of art. This is why we have created raretempo, a resource for the modern artrepreneur. Our goal is to educate artists on how they can make money with their art. In the coming months, we have some cool things in the works including a marketplace for artists to sell their works and pop up experiences that will delight the senses. Stay tuned for more.
The artrepreneur is on the rise. Moving forward, we want to help those people as much as we can. This is one way to continue to build community and that is something we’re all about here at Outspoke.