What should I avoid when modeling my art business strategy?

Don’t model your business after unicorn success stories—the top 0.1% of contemporary artists who are already famous and successful. That’s like modeling your basketball game after Kobe Bryant or your investment strategy after Warren Buffett. These outliers operate under completely different circumstances and market dynamics than you do. Instead, follow proven business fundamentals that work for the vast majority of successful artists: make it easy to buy from you with appropriate pricing, work all three growth levers (new customers, purchase frequency, and average order value), align with retail holiday strategies, and focus on acquiring new customers who can become collectors over time.

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Asked by an artist comparing themselves to famous artists · Answered by Patrick Shanahan · art-marketing-podcast · 2024-02-20