The Business Of Art Licensing

The most important thing I have learned as an independent artist is MIS, or Multiple Income Streams. When one pond dries up, another one is still flowing.

During the recessions and roller coaster economies, MIS can save your sanity, not to mention your life. When you waste your time you are also, in essence, wasting money, even though it doesn’t feel as obvious.

Yes, we love being artists and yes, artists must express their souls. But as human beings, we also need a roof over our heads and food in our bellies. This post is about both money and time, and doing your best not to squander either.

If a pursuit is not making you money, it’s time to move away from it and start something else that has potential to put money in your pocket. These are just examples: if your Etsy store costs as much to maintain as it brings in, get rid of it. If building your Behance portfolio hasn’t netted you any new customers, stop wasting your time with it and move to something else that has the potential of making you money. If an artist service site like askart.com is draining you in monthly fees and you’ve given it a year and no sales, stop the bleeding and cut it off.

If you’re like me, you love sparkling, shiny things. Some of those things may cost money or time. More than ever, there are new products and services dangled in front of artists. Be wary and cautious; spend both your time and money judiciously.

If something in which you have invested doesn’t pan out after a year, rethink it and move on. Your time (and money) is too precious to give away without a return on investment.

Feeding the soul is one thing, but you have to eat first.

Mindy Hope Sommers is a renowned and widely-licensed fine artist. Visit her work online at www.colorbakery.com.