I was asked to give “three top business tips” to creative entrepreneurs in an interview about how to successfully blend creativity and business.
Ellie Stevenson interviewed me, along with Nick Williams of ‘Inspired Entrepreneur’, for an article published on ArtsHub UK.
Here’s an extract:
Can you give us three top tips for running your own successful creative business, David?
1. Firstly, define what you mean by success – it could be a mixture of financial success, creative challenges, recognition, job satisfaction, quality of life, etc, and that formula will be different for everyone. Define what you mean by success, don’t let others define it for you, and know where you want to go.
2. Be clear about your market and don’t try to sell to everyone. Choose your customers. Choose customers that fit your objectives and your ethos and that deliver the financial results you want. Don’t have a scattergun approach, looking for any old customer. Choose the customers that work best for your business strategy.
3. Understand intellectual property (IP), because IP is at the core of the creative industries. It’s important to make sure you don’t get ripped off by other people, so it’s about defending and protecting intellectual property; but just as importantly, it’s also about how to commercialise that IP so you can make money from it, through sales and licensing, for example. Given that IP is so central, I think most creative businesses could do with knowing a bit more, and learning how to use it.
Many more business tips, techniques and tales are in David’s books, ‘T-Shirts and Suits’ and ‘Chase One Rabbit’.