Last week saw Supanova Comic Con & Gaming return to Sydney and bring with it a range of shopping, interactive and informative experiences. One of the informative experiences was a seminar hosted by ArtSHINE Industries called ‘How to Turn Your Creativity and Passion into Profit’. This was an hour long talk hosted by ArtSHINE Indsutries’ Co-founders Vinh Van Lam and Stuart Horrex which provided insight into the four stages of transforming an artistic passion into a business. ArtSHINE Industries specialises in helping full time employees transition into opening their own business centred on their artistic passion. Therefore, its Cofounders are ideal lecturers for this topic. If you were unable to attend this seminar, don’t distress. Gamers Classified was there and we took notes. Below is a summary of the stages involved in turning a passion into a business.
First, identify your passion. Is it drawing? Is it super hero comics? Is it living sustainably? For most people, their passion is what they are good at. This passion will form the purpose of your business. For example, if you’re passionate about drawing and superheroes, you might specialise in drawing customers as superheroes. If you’re passionate about sustainable living, you might use biodegradable and recyclable materials to produce your products.
Once you’ve established your personal passion, you need to translate this into a purpose for your business. This will determine the scope of your enterprise. For example, let’s say your purpose is to bring unique characters to life. In this instance you would focus on drawing unique characters as imagined by your customers. You would steer away from illustrating existing commercial characters such as Disney Princesses or comic book characters.
If you aren’t sure what the purpose is, use trial and error to identify and eliminate what your purpose isn’t. If something doesn’t work, disregard it and try something else. Don’t feel compelled to stick with one rigid idea. This may mean you will have to compromise. Ask yourself what are the non-negotiable aspects of your passion and what are you willing to compromise on.
Dreaming about something but procrastinating to create it says that you lack purpose. Not everyone can commercialise their passion. The Objective Phase will prompt you to assess if you want your passion to be a hobby or a business.
Begin by creating a five year plan for your business. This will help you make informed decisions. If at any point, you realise that your five year plan is not working, change it. As with determining your purpose, don’t feel compelled to stick with one rigid idea if it’s not the right fit.
You need to constantly be creating new work and promoting it. Creating new works to sell ensures that your business has reason to stay in business. Promoting your work means customers know you have items for sale. It’s no good creating a wonderful product if no one knows about it.
Having your own business takes commitment and discipline. This is why the Objective Phase asks you to consider if your passion is a hobby or a business. Some people enjoy occasionally making their own accessories but would not enjoy continuously making and shipping accessories to meet deadlines.
Having your own business means committing to always creating new products and always chasing new commercial opportunities. The key to staying committed is remembering your motivation for starting this business. Remember your burning passion and your business’s objective. This will help you persevere.
Promoting and selling your work requires you to know who your customers are to go where your market is. This stage will require you to consider the following:
- What goods and services are marketable?
- Who is your customer?
- What shops do you want to sell your product in?
- What price do you want to sell your product for?
- Who is your competition?
If you’re struggling to answer these questions, don’t despair. ArtSHINE Industries provides coaching, consulting and licensing services to help you through all stages of envisioning and realising your business. Some of the areas ArtSHINE Industries can assist with are artistic representation, wholesale distribution and gallery exhibitions. For more information, please visit the ArtSHINE Industries website.