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Warning Signs: "business NOT as usual"!

20/6/2020

In a recession, it's ESSENTIAL that you are VERY aware of the warning signs that "business is NOT as usual".

Be alert to indicators that:

your art business is struggling
any third party business entities that you do business with are
- not in the best of business health
- in need of intensive/emergency care
- dying on their feet / about to go into administration
- dead and buried - and in the insolvency courts - which usually means creditors get next to nothing

What follows is a checklist of WARNING SIGNS you should always pay attention to.

These indicators tend to be generic and worldwide
- local cultures / laws around the world can be very influential in terms of what people do and don't do - and can and can't do
- my reference to practice/laws/available help tends to relate to the UK (where I live)
If you realise you are exhibiting any of these warning signs it's an indicator you should seek help sooner rather than later.

Checklist of WARNING SIGNS about business health

ALWAYS BE ALERT to warning signs that something is "NOT business as usual". This is what stops many artists from losing out in terms of art they have produced or money they have paid for a service.

I've come across numerous accounts of artists who pulled their work out of an art gallery just before it went under - because too many things made the artist feel uncomfortable.
Experience tends to inform actions. If you've seen or heard about it happening to somebody else you learn the indicators and signs. However you can also learn about them in writing - hence this post!
The clever artist is the one that remembers the warning signs and spots them early. (see commentary in due diligence at the end of this post)

Watch out for the WARNING SIGNS!

SERVICE STANDARDS SLIPPING

very often problems with a company first become apparent due to changes in the way they operate
change might manifest itself as
- a drop in standards of the product or service they provide to your art business
- changes in relationships - in terms of the quality of customer service or "money management" relationship with the other business.

COMMUNICATION DETERIORATING

word of mouth - you hear from others (fellow artists, clients, other suppliers) that a business is causing concerns. Talking about a business tends to be triggered by actions they have taken e.g.
- art galleries not paying fellow artists the money they are due
- clients walking away and placing their business elsewhere
slow response to your communications - before they disappear from view, individuals tend to be difficult to get hold of or very slow to respond to your communications. They may be:
- very distracted by all the work they are engaged in with trying to keep their business afloat
- in denial and sliding into depression because they are overwhelmed and do not know what to do. Talking to business contacts is the last thing they want to do
- a slow response usually precedes.....
"radio silence" - a term used for when key individuals disappear from view and will not return calls or respond to emails or letters and/or communication via the internet suddenly stops with no prior warning. Unless there is a health issue for the lead individual (or a member of their family), the reason normally lies in the near terminal health of the business. Individuals in the art world who are prone to this type of "radio silence" behaviour are:
- inexperienced gallery owners;
- unbusinesslike and/or lazy/bored website designers
- embarrassed clients for an expensive commission - whose aspirations have overreached their budget.
- the sociopath - who may occupy a number of different roles

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Art Business & the Coronavirus Pandemic Recession

16/6/2020

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Catch up on my recent articles about the Pandemic Recession on my main blog (posted there because a lot of artists follow it and it gets lots of readers!).

You can catch up here:

READ: It's time to talk recession - and what next!

The Covid-19 Pandemic to date has made economic survival very difficult for a number of artists. However the coming Global Recession is going to make life difficult for a lot more artists - all around the world.

It's time to take stock and think about what this means - in the short term and the next 2-3 years.

READ: The Pandemic Recession: Likely Impact on Art Sales and Artists

In this post I'm beginning to set out an overview of what I think are key issues for artists during The Pandemic Recession. It includes some background reading and covers
- the biggest drop in economic growth since records began
- the impact on art sales and artists
- lessons for artists from the 2008 recession

The biggest drop in GDP in the UK since records began

PLUS recent initiatives to support artists

READ: The Artist Support Pledge

PLEASE DO NOT post art if you're NOT a career artist whose livelihood is currently in jeopardy due to Coronavirus. There's way too much amateur art being posted by people who cannot possibly be paying their household and business bills through the sale of their art. That, to my mind, is just plain selfish and attention-seeking given the intention of this project is to support those self-employed professional artists who have lost their ability to earn their normal income e.g. from sales of exhibited paintings in art galleries and art fairs, teaching art to students and the normal sort of work which many professional artists engage in.

PLUS in relation to Teaching Art - I wrote on my botanical art news blog about the implications for teaching art. Planning considerations are essentially generic whichever type of art you teach.

READ Botanical Art Education: planning considerations re. coronavirus

The one thing that is certain is that the virus is not going away any time soon. All that is happening right now is that the reproduction rate is being cut - but a very small percentage of the community has been infected and the virus is still in the community.

I'm going to be continuing to write about the implications of the Pandemic Recession on changing business practices and art business models

on Making A Mark - in the coming months,
with catchup posts on this Art Business Info News Blog

READ about the Key Points for Artists, Art Teachers and Art Galleries to date below

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Why you can be more than self-employed!

8/6/2020

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Every time you describe your employment status on your Facebook account as "self-employed" you miss out on an opportunity to

redirect people to a Facebook Page which has YOUR name on it
which is marketing YOUR art - and
gathering in sales and commissions for YOU.

Just a thought!

Why not have an account which

reads"Works at "YOUR NAME ART" and
links to YOUR brand new FB Page?

Facebook Page

You must have a profile to create a Page or help manage one.
Pages are places on Facebook where artists, public figures, businesses, brands, organizations and nonprofits can connect with their fans or customers.

To find out more about Facebook Pages read:

It's against the Facebook Terms to use your profile to represent something other than yourself (example: your business), and you could permanently lose access to your account if you don't convert it to a Page.

Create and Manage a Page
- If you choose a Page, you can have an unlimited number of people follow you rather than the limit of 5,000 friends of your personal account
- When you're trying to represent your art business, and promote your art you can do this better from a Page Facebook, create a Page. A Page lets you engage with people on Facebook and offers tools to help you manage and track engagement.
- choose which type of page you want according to the features available - see the table below. Artists should choose the Business or Brand page.
How do I create a Facebook Page?
Manage Page Settings - Make sure the username you're trying to create follows the guidelines for custom username
Customise a Page - including profile and cover photos, categories and templates, page details, call to action buttons
In due course you may want to create a Facebook Page Shop - see below....

Bear in mind that Facebook is currently also gearing up to expand Facebook Page Shops - which allows you you sell your art online from home.

READ MORE: Facebook Page Shops

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Art Business Info: NEWS

Warning Signs: "business NOT as usual"!

Checklist of WARNING SIGNS about business health

Art Business & the Coronavirus Pandemic Recession

Why you can be more than self-employed!

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Art Business Info. News for Artists

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Art Business Info: NEWS

Warning Signs: "business NOT as usual"!

Checklist of WARNING SIGNS about business health ​

Art Business & the Coronavirus Pandemic Recession

Why you can be more than self-employed!

Facebook Page​

Art Business Info. News for Artists

Visitors so far

Author

Archives

Categories

Checklist of WARNING SIGNS about business health

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