Heard this week in class

The thing about having very smart teachers is they use Vocabulary in a precise way.
As Ross Perot would say, "I am all ears..." to hearing new terms, so fire away.

The Business of Art class had for today the agenda of Accounting principles, which were nicely simplified into a couple of math formulas.

I need to learn this Accounting STRUCTURE to keep track of the money aspects of THE BUSINESS that is bobsart ART.
I have to make Balance Sheets and Income Statements.
I didn't THINK I had any Income.
The Couch Cash was spent months ago.

My business needs to have strong Goodwill established so it can be Porting this into successful Transitions of Work.
It needs to avoid Execution Problems by anticipating Downtime Factors and learn How to Track to Monitor and Generate the right Reports.
The Business has to start Projecting Revenue and Expenses and find the Break Even Point.
On the way to the Bank I check my pocket dictionary for Return On Investment (ROI).

I wonder if Roy's restaurant was created so Roy could cook or so Roy could have a Roi.

I ponder more.
How is the storage capacity holding up against the Inventory Cycle?
If I get too many referrals will that cause problems with my Fulfillment service?
I realize the need to Punch Out One Message, hard and often. The Use of Point of Purchase displays is consistent with using e-mail Blasts and E-vites.
Are there enough deductions to protect the income and still have favorable comparisons to similar-industry's Run Ratios.

What is my Flex Number and does it really mean that my Net Worth is Negative?
I have to go now and find the Gating Item, because my Opportunity Cost is going too fast.
If I can just Identify and get to my Demographics with Podcasts or Facebook, I'll be fine.
And cooly DIGITAL, too.

Intellectual Property

My Business of Art class had an excellent lecture last Friday delivered by the teacher and it revealed her knowledge and grasping of the concepts involved in legally protecting your art and you as an artist.
What you create is called 'intellectual property'. Protecting your property involves copyrights and trademarks, and a lot more. I am not going to reveal the details of the lecture--that is probably copyrighted by 'Teach' and I know she doesn't make available her PowerPoint slides. Just our fast scribbled notes survive.
A lot of the aspects of being a successful artist involve spending time and doing things we don't want to do. We just want to spend our time creating art.
Not creating a business.
But the two must go hand in hand.
So, in your pursuit of a successful art career, I hope YOU don't have to spend too much time learning about:

• 'Cease and Desist'
• Intellectual Property
• uspto.gov
• 'Look and Feel' lawsuits
• trademark infringement
• 'tangible expression'
  
• trade secrets
  
• trade dress

Maybe Mother was right, after all. Maybe I should have been a Lawyer.

visit to local art gallery

Today the business of art class had a field trip to a local gallery. Actually, two galleries in one. there is a vintage side, almost all dead artists, and a contemporary gallery, for the living stable of artists. We had a wonderful presentation from the gallery owner and from the contemporary curator. It is all about business. these people are in the business of selling art and they have big time expenses to cover each month like rent, staff, marketing. They know their clients and they know what their clients are interested in buying and THAT is what they put on their walls.
It looks like I might have to come up with some landscape paintings.
That CAN'T BE ME talking.

First "Business of Art" Class

Friday rolls around and I roll out of bed early enough to be in the classroom at least 20 minutes before the 9 a.m. start. I have read and printed a copy of the class syllabus from the City College website and I have brought a portfolio of my artwork like the Professor asked us to do.
I had a basic concern because I consider myself a 'fine artist' and I didn't want 'to sell out' by creating products to sell. I want to be recognized as a unique 'fine artist'.
I enjoy art history and biographies of artists. In my study of Art I have been taught to learn from other established artists. We all deal with the same problems of composition and have the same tools like lines, color, shapes. The way to grow as an artist for me involves combining solutions from the great artists with my subject matter and exploring art that way.
Can this Business of Art Class help me find a way to market my art?
Will it instead influence me to change my approach into making products I think will be sellable?