How does market size affect my potential art business success?

Every subject matter you create has a market size - the number of people who are actually interested and have an emotional connection to what you’re shooting or painting. This could be 5 people, 5,000 people, or 5 million people. There’s a ceiling on your subject matter, and your business will only sell as much as that subject matter allows, even if you have traction. This is why some artists succeed wildly with similar talent and effort while others struggle. If your market is tiny - say, 1,000 people globally - you’ll spend enormous time and money finding those scattered individuals. This is why pivoting and experimenting with broader subject matter is often necessary. Every artist will have different outcomes based on their subject matter’s market size.

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Asked by synthesized from teaching · Answered by Nick Friend · art-marketing-podcast · 2022-02-12