{new dish design released this week – available over on Etsy}
So here is an interesting thing. I’m trying to make a living from making art. I don’t see many creatives talking about moolah, but I’m going to. I don’t want to keep money cloaked in mystery. Cash and consciousness, as Danielle Laporte says. I want to be transparent about my journey with art and cash, because I wish more people were talking openly about how to actually make of go of the money side of creativity.
I’ve cut down my day job to three days a week so officially, I need some profitable dosh to start flowing from my creations. I’ve really used this change to take stock of where I’m at financially in the business, and it’s been a really enlightening (if a bit brutally raw) process.
A few things have become very, painfully clear. First the good….
1. I’ve finally paid off my set up costs. My first 18 months in business have been about paying back a loan a took to set myself up. Loan now paid. Phew. (This was my only financial goal for my art, to pay off my set up costs. Now that’s done, it’s clearly time to think about some other money goals)
2. The quality of my work has increased. I LOVE the customers who supported me and bought stuff in the early days but goodness me, I’m a bit embarrassed about some of the early things I sold!
3. I have a steady flow of generous-hearted and repeat customers. My customers are lovely folk who share my work and keep this dream show on the road. I love them. I’m turning a profit every month and this is a flipping blessing.
Now for the bad, and the ugly, but the real
1. I’m making buttons per hour. I broke down my incoming/outgoing costs and hours worked. My hourly rate is frankly, pants.
2. Some of my products don’t stack up as profitable wholesale options. There just isn’t enough margin and I’m actually bringing home peanuts.
3. I’ve seriously miscalculated some of my costs and just down right not realised that I’m losing money in some areas. Packing and posting is a big area I’ve miscalculated.
4. I’ve undersold myself in a few areas, especially around commissioned work and mostly, I’ve been really fearful of charging too much.
I’m not a greedy chops when it comes to dosh, I’m not looking to scoop millions with this gig but I believe it can pay a fair rate. If art could pay for part of our outgoings I would be gleefully ecstatic. There are some key lessons to take forward, some things need to shift if I am going to make money, making art.
I’ve got a little plan that I’m working on. Developing some new product ranges, looking at money honestly and with an open heart. Not burying my head in the sand.
I guess amongst this rambling what I’m trying to say is, being open and real about money is leading me closer to the path of creating a job I love, that pays a fair wage. That’s got to be worth doing the books for.
I’d love to know how you feel about money, creating, creative business and all that jazz. Have you learnt any raw money lessons on your journey? Does talking about money make you feel a bit icky? (it does me!) Do you find it hard to set prices? (I DO!!!)
Sending awesome bags of abundance your way.
