Pitch on similarities of Artists and Entrepreneurs

1. CPAC Artist as an Entrepreneur Institute
Presentation by
Steve Therrien
November 9, 2005

2. Characteristics of Artist v. Entrepreneur
artist entrepreneur
Innovator/Risk Taker
Perseverance
Planning/Goal Setting
Focus
Timing
Exit Strategy
lots of similarities … interesting but not surprising!

3. Characteristics of Artist/Entrepreneur v. Business Manager
artist manager
Innovator/Risk Taker
Perseverance
Planning/Goal Setting
Measurement/Control
Focus
Timing
Reward Driven
opportunities for joint benefit abound … just remember you are different

4. Defining Markets – Artist v. Entrepreneur
artist entrepreneur
Government
Business
Religion
General Public
Private Collector
Open Sale
Commission
market segmentation is key … where are you, how are you differentiated

5. Defining/Developing Products – Artist and Entrepreneur
artist entrepreneur
Concept
Design
Prototypes
Function
Form
Price/Cost
Distribution
product CTQs … what is important to customer, how are you perceived

6. Defining Goals/Success Factors – Artist and Entrepreneur
CREATIVITY
WEALTH Artists and Entrepreneurs
struggle
for
CONTROL
RECOGNITION
RECOGNITION BALANCE
so waddaya-wanna-be when you grow up? you just might get what you ask for!

7. Success Strategies – Artist and Entrepreneur
• Product/market differentiation and segmentation
• Play to your strengths … know who you are
• Stretch and take risks … pages from J. Welsh playbook
• Maintain focus … don’t go chasing the next shiny rock
• Timing, be prepared for opportunity … think like a hunter, action oriented
• Promote yourself … brand recognition
• Ask for feedback … sharpens focus
• Relationships are key … act like a hunting pack (compete/co-operate)
• Paris in early 1900s - art
• SF Bay area in the 1960s – music
• Cleveland/Detroit in early 1900s – manufacturing
• Silicon valley in 1980s – technology
• Medieval fairs and festivals
plan, act, measure, control

8. Success Measurement – Artist and Entrepreneur
$$$,
Recognition
Broader
Growth
Foothold,
Unique Niche
Getting Started, Survival
customers control impact and scope of success factors … surprise

9. Success Stories – Artist and Entrepreneur
Michelangelo – Commissioned by the Vatican, legacy artwork
R. Crumb – Underground following, unique identifiable style
Laurel Birch – turned love for cats into international accessory business
Matt Stone/Trey Parker – Ya luv ‘em or hate ‘em
Nolan Bushnell – Innovator in video gaming who believes that everyone
can be successful entrepreneur (note: there is a hitch)
success comes in many shapes, forms and sizes … but ACTION key

10. The Dark Side …
• Serial entrepreneurs … failure is an option, but winners don’t give up
• Naysayers … the earth is flat until proven otherwise
• Fast followers … look over your shoulder, they’re coming
• Understand market shifts … the Bowman brain
• Ego … the good, the bad, the ugly
artists and entrepreneurs can run the fine line between brilliance and lunacy

11. Other Thoughts …
• If you don’t know where you are going, any road will do
• Perceptions Preference Choice
• The (hu)man, the plan, the market
• Following up and following through critical
• It’s never to late to learn new tricks … evolve
• Winners don’t dwell on their mistakes
• People like free things … helps branding, keep them coming back
• Life is short … have fun, take risks
ultimately its up to you, but having a plan and a good support team helps