Why is understanding the business model so critical for artists?

Understanding the business model is critical because getting it wrong is the source of the starving artist problem. Many artists assume the business fundamentals are common knowledge, but they’re not. You need to understand the economics, structure, and revenue model that will set you up on the path to meaningful income. This means knowing what to sell, how to price it, what margins you need, and how the money flows through your business. Without this foundation, even great art and marketing won’t lead to financial success.

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Asked by an artist struggling financially · Answered by Nick Friend · art-marketing-podcast · 2020-07-17