Risk, Control and Profits for Arts Entrepreneurs

Most entrepreneurs want to reduce risk, maintain creative control and increase profits. The best way to do this is to Bootstrap your business. This term comes from the phrase “Pull yourself up by your own bootstraps”.

Bootstrapping is an entrepreneurial process of spending only what you have in way of cash in hand or through bartering and exchange. It is the War Era generation of thinking, prior to our becoming a debtor society. It will likely result in a slower process of growth, as one is not relying on a cash infusion from investors. However, by not relying on investors, one does not distribute equity and is therefore able to retain full creative control. Holding the position of owner and of creative control is an ideal position for many artists to find themselves in, as it leads to a greater profit potential, reduced risk (through not borrowing, dividing company ownership, also known as “equity”, and by not becoming beholden to any other entity or party other than oneself or board of directors.

Creative liberty, a reduced risk lifestyle, ownership of one’s work and company and the potential for larger profitability are potentials that most artists crave and seek out.

Jim Hart

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s