Why Most Artists are Financially Stuck | Artsy Shark

by Carolyn Edlund

Why are so many talented artists struggling to make consistent income?

woman deep in thought

So many artists feel frustrated, unable to move the needle financially. Why does this happen? It’s not a lack of skill or passion. And it’s not because there aren’t buyers out there.

In reality, most artists aren’t actually running a business. That’s right. What they’re doing is making art and hoping it sells. It’s easy to see how this path is just human nature, but in a business sense it’s the reason so many are stuck and can’t make significant gains.

Selling is not a random process. It’s deliberate and intentional. Savvy entrepreneurs outline their sales strategy in detail, and follow a master plan. In contrast, many artists approach sales by posting on social media, updating their website occasionally, entering a show now and then, and crossing their fingers. Sometimes they make sales, and sometimes they don’t. That type of inconsistency isn’t a matter of bad luck. It’s a lack of structure that has to be remedied in order to create a dependable income.

Do you have a clear system for pricing, presenting, marketing, and selling your work? If you don’t, you’re leaving your income to chance. And taking chances is not a business model.

Pricing without a purpose

One big issue that I often see is artists assigning prices for their work based on emotion instead of doing the math. They may wing it by going with a gut feeling, or guess what someone might be willing to pay. They might shy away if a price seems too high, for fear of not selling. But that isn’t a logical way to price and won’t lead to a sustainable business.

If you haven’t calculated your costs and built a pricing structure that supports profit, you may be selling at a loss without realizing it. Many artists are surprised to discover that once materials, time, and overhead are considered, they are barely breaking even. If this sounds familiar, I encourage you to take a closer look at the formula for no-nonsense pricing in my article titled Is Your Art Priced Correctly?  It walks the reader through the pricing process to guarantee consistency and profit.

When your portfolio isn’t selling

Here’s another common issue that leads to getting stuck financially: presentation. If as an artist, you show a wide range of work that isn’t cohesive or memorable, you won’t inspire confidence in a buyer. Art collectors don’t typically purchase a random piece of art. What they need is a professionally presented body of work that conveys the artist’s mastery and signature style.

When your portfolio feels scattered, unfinished, or unclear, buyers will hesitate. And hesitation stops sales before they ever happen. Take the time to review, self-curate and improve your portfolio presentation both online and at live events to step up to the level that will attract collectors. Want a detailed breakdown on this? View my Checklist for a Better Art Portfolio for a step-by-step plan to improve your presentation and credibility.

Are you trying to sell to everyone?

I’ve met artists who, believing that reaching more people will automatically lead to more sales, try to appeal to everyone. But in reality, that approach weakens your message and makes your work less compelling. Most people are not your customers. That’s fine, and it’s actually an advantage because you can stop trying to sell to everyone and start focusing on the right people. When you understand exactly who your ideal collector is, your pricing, your presentation, and your marketing all become more focused and effective.

Instead of casting a wide net, you begin to speak directly to the people most likely to connect with your work. If you haven’t clearly defined your audience, start now. Once you realize that you can actually choose your customers purposefully, you’ll be able to rethink how you approach the market and plan for success instead of just hoping for sales.

Focusing on attention instead of relationships

A great deal of effort is often spent chasing exposure, and looking for followers, likes, and views. But those things don’t create income, and they might be wasting your time.

If you look toward cultivating relationships instead, you will end up with more serious prospects and more eventual sales. Buyers rarely make a purchase the first time they see your work; they need to encounter it more than once. Acquiring a piece of art might stay in the back of their mind, or perhaps it’s not the right time to buy. Most often, customers have to develop a sense of trust and confidence about you and your artwork. That type of connection takes time and consistency.

When you shift your focus from simply being seen to actively nurturing relationships, you will begin to see stronger results. Use your time to connect with people who already appreciate your work through personal contact, sending thoughtful emails, messages and invitations. These are powerful steps to build an audience who will buy from you, and then buy again. I’ve shared more about this in my article titled Nurture Your Existing Art Collectors.

Marketing without a system

Marketing is another area where artists often feel overwhelmed, so they try a little bit of everything. They post on social media, send an occasional email, and list work on different platforms with no rhyme or reason. These scattered efforts lead to scattered results.

You don’t have to be everywhere, but you do need to be consistent in the right places. When your marketing is structured and planned purposefully, it’s more effective and less stressful. Unsure how to bring your efforts together? Use my 8 Point Checklist for Marketing Your Art to get organized.

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If any of these patterns seem familiar, you’re not alone. The problem is that most artists were never taught how to run a business in the first place. They learned how to make art, but not how to market and make sales. That gap is why so many end up frustrated with their results.

The good news is that you can change this by stepping back and taking an honest look at how you are running your art business. When you set goals, create systems and focus on the audience that is most likely to buy your work (and when you understand why), everything shifts for you. Your pricing is correct and makes sense to customers. Your portfolio is stronger and makes a better impression. You have defined your target audience, and consequently your marketing becomes more effective.

Final thoughts

The reason most artists stay stuck financially is simple. They don’t have a plan or a system to successfully navigate the marketing and sales process. But when you build structure into your business, you end up with more predictable income and profits. Sales happen more regularly, and this builds your confidence and knowledge of how to operate like an entrepreneur.

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