Starting a Creative Business 101
If you’re here, it probably means you’ve been thinking about starting your own creative business, are looking for some advice or your algorithm thinks you do.
Deep breath folks, I’m about to give it to you straight.
Whether you’re a designer, writer, artist, photographer or another creative soul and you find yourself drawn to the idea of starting your own business, you’re in the right place. Let’s talk about balancing your passion for your craft while getting things shored up on the business side.
is starting a creative business risky?
Before we dive in deeper, I want to tell you something I wish someone had told me when I started Anna Katherine Creative…
Being a creative freelancer/business owner is a legitimate, long-term business option.
It doesn’t matter if you’re designing graphics, writing content, photographing weddings or creating music, you’re running a legitimate business that deserves and requires the same amount of respect as any other career path.
You’ll notice I use the words freelancer and business owner interchangeably because that’s what freelancers are. As creative entrepreneurs, we tend to handle all client interactions, project management, finances & budgeting, admin work, marketing & so much more. Don’t get me wrong, entrepreneurship is NOT for everyone. But for some of us, it becomes the most truthful, fulfilling expression of our passions, priorities and values.
At the end of the day, most of us take the leap to start our creative businesses because we love what we do & value being able to do it the way we want while serve the kinds of clients we love most. It’s our deep-seated creative passions that tend to kick us in the direction of freelancing & entrepreneurship whether we knew we wanted to run our own thing or not.
To answer the question above, is running a creative business risky? Yes. Anything worth while always has an element of risk. However, there is also a huge, fulfilling opportunity that presents itself when you start to pave your own way.
So…how do we do that?
Passion + Professionalism
Just because you’re in a creative industry doesn’t mean you need to abandon the passion that brought you this far. Actually, the opposite is true. If you’re ready to embrace your role as a creative entrepreneur, you’ll be able to take your passion and turn it into a sustainable career.
Striking that elusive balance between art and business can definitely feel tough at first. Here are a couple of things I’ve learned to ease that transition, especially at the beginning of my freelancing career.
Make sure everything is legal. Get the LLC, get your EIN, keep records for taxes, get insurance. If you’re going to start a business do it right.
Set CLEAR boundaries with clients.
Be on top of your time management & AWAYS have appointments and calendar events written down in multiple places, digital & non-digital.
Create CLEAR processes for yourself and your clients for every single service you offer.
Always have really clear, solid contracts. (Chat with a lawyer if you haven’t already.)
Treat every project with the same level of professionalism you want to experience from other businesses.
Most of all, be 100% yourself in your work & marketing. Infusing your real personality into your brand presence isn’t unprofessional - it makes you approachable & relatable. People will always want to hire businesses they know, like and trust.
If a successful business is a bonfire, our passion is the oxygen while our drive, determination, habits, and organization are the fuel. A combo of both is what shifts us towards running a powerful, limitless businesses that also provides us a sustainable source of income.
Balancing Freedom & Burnout
When we dive into the many perks of freelancing, the top element is freedom. As your own business, you can choose your projects, set your own rates, and work from wherever is most convenient for you! But to rephrase Uncle Ben slightly, “With great freedom comes great responsibility.”
Time management and learning to efficiently structure your hours and energy is a tool you’ll continue to lean on throughout your freelancing career. It’s easier than you think to lose yourself in “the grind,” but working yourself into the ground will only cause you to burn out faster. This is a balance you’ll uncover for yourself with time & practice. That balance also doesn’t look the same for everyone and it won’t always be the same your entire career as your priorities shift and life happens.
Managing Finances
Wearing multiple hats can feel overwhelming as a creative business owner. Maybe you didn’t go to business school and you’re having to figure things out as you go like I did. When we run our own business, we not only take on the. additional roles of creative director, producer, managing operator, and bookkeeper - we also become the accountant! This means you’re keeping track of your income and expenses, paying taxes, and saving your money as you navigate running a business. Consider investing in accounting software (I love using Quickbooks) or hire a professional if you’re able to. It’ll make it that much easier to focus on what you do best. Other than the legality of your business, the financial side is one of the most important things to get right.
While it isn’t the most “fun” part of the business, it’s what allows you to pursue the creative endeavors of your dreams and sustain yourself for the long haul. While the numbers side of your business may feel daunting, ask plenty of questions from professionals and be willing to learn! You’re not alone. And help is always there for people who ask for it.
TLDR:
With the right approach and balance, your creative business can be equally fulfilling, sustainable and wildly successful. Don’t let anyone tell you any differently. Your creative career is yours, friend. You’re capable of making it happen, bouncing back when things fail, and creating a fulfilling career you love.
Remember you’re not in it alone. If you need help, ask for it. If you don’t like where you’re at, you can always change your mind. If it’s meant for you, it’s yours.
Always in your corner,
x Anna