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Strong Women Survive

on December 04, 2023

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Business Overview/Vision

Business Overview/Vision A business overview is simply your vision for the business's future. What do you want to accomplish with your business? Discover the essence of your art business! • Name and concept: What inspires your venture? Is it a makeup artist, music, or painting? • Legal structure: S-Corp, LLC, sole proprietorship—what fits best? • Location: Where's your gallery, and why did you choose that spot? Next up, introduce the owners and their roles. Highlight share percentages and contributions! Craft a striking mission statement that encapsulates your art studio's essence and goals. Share the captivating story of how your business evolved into its current form, including any remarkable achievements or accolades you’ve earned along the way. Paint a vivid picture of your ambitions and future plans—whether it’s launching an art studio or hosting a gallery event! Elizabeth Kilbride is a Writer and Editor with forty years of experience in writing, ...

Navigating Taxes at Half-Year Mark

Navigating Taxes at Half-Year Mark Tax season might be over, but 2025 taxes will be due sooner than you think. So let’s be prepared and get organized. While creativity flows easily, organizing expenses often doesn’t. If your business is a side hustle, you probably don’t think about receipts, but those receipts do add up faster. Whether ir be for a business lunch, coffee, or even gas/mileage, it does add up, so gather those receipts and start tracking them before the tax season jumps up and grabs you where it hurts, your wallet. For any business, accurate record-keeping and knowing deductions are essential. Seek professional tax advice to navigate this tricky terrain effectively Seek a skilled accountant or tax professional who understands your business. Consider using bookkeeping software, but traditional ledgers work too! Don’t let paperwork pile up—tackle it regularly. I use QuickBooks Pro and have used it for many years now. It gives me a Profit and loss statement with ...

Market Analysis

Market Analysis Let’s embark on an artistic journey and reveal the vibrant art industry, highlighting your target audience, competitors, and exciting growth prospects. Take time to pinpoint your ideal customers; this will shape your creative vision and marketing efforts. Discover their preferences—be it customized paintings, greeting cards, poetry, or songs! Next up is a snapshot of the art market: discover its size and potential for success in your venture! Conduct a thorough market research to pinpoint direct and indirect competitors. Assess their strengths and weaknesses. You should also utilize a SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats ) to uncover your artist business's internal strengths & weaknesses, alongside external opportunities & threats. Identify unique selling points that set your art apart, emphasizing the quality of your offerings. Stay ahead by analyzing emerging trends in customer preferences within the industry every quarte...

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