I went through the right-side portion of the business model canvas and in this post I'm going to pass along the left side of secrets before going into the bottom portion in the 4th part of this series.
If you enjoyed the last post feel free to leave a comment throughout this series as I always love any kind of feedback!
-This post contains affiliate links. When clicked it will open in a new tab in your browser and when you make a sale I receive a small commission at no additional cost to you!
Here is the basic business version again just as a reference of where I'm going to be headed!
Ahhhh, much better and artsy!
Start with the big picture first and follow the arrows again. I left off in part 2 of this series with Who Do You Help? because we are picking up in the middle but with the added knowledge of the customer segments that you found by answering that question.
What value are you providing to your customers?
How are you enhancing their lives with what you do? What is your most valuable asset that differs from any other artists? How is your art satisfying your client's needs?
When I was first taught this information by a wonderful professor years ago, he explained this aspect with the theory that Walmart does not cater to every segment. They may seem as though they do offer large amounts of products for awesome prices, however, if you look closer they actually only offer 3-4 value propositions that set them apart from their competitors. They're convenient, reliable, low priced, and always open.
Value propositions are intangible items that you serve your clients with before, during, and after a sale is completed. Even from the point of uploading your artworks to different online galleries all the way to when a sale is made and the box is about to be opened by the consumer and where they hang it at. Even if you haven't gotten to the point of branding yourself, that's ok because there are many other valuable areas that you are probably using to enhance others' lives that you are not aware of.
Other value propositions might include: convenience, exclusivity, price point, customization, personalization, availability, quality, newness, originality, risk reduction to the consumer referring to if the artwork is going to be safely shipped in a timely manner appropriately, taking enough photos with adequate lighting and communicating to the customer every step of the process if on a commission, including a thank you note for every sale, coupons, increasing someone's status after they have your art displayed in their home or office, enhancing the appearance of an established physical gallery.....the list could go on and on!
What do you need to succeed?
What are your key resources?Other than the obvious...
Paints, canvas, sketching paper, art clubs, art classes, marketing expenses online and other avenues, business cards, your own time, a camera, any other additional materials that are used, etc.
This is a great time to sit down and really list EVERYTHING that is needed or that you utilize already. This is going to save you a lot of time when a customer asks for a breakdown of your prices for what you are charging for each art piece and any commissions. It'll also be beneficial as its already tax season again!
For instance, I use beach glass/sea glass that I personally collect from Lake Erie that I've had appraised. I include the price of each piece along with a certificate of appraisal with each order. This not only sets my art business apart from others but also enhances others' lives because if they are also an avid beach glass collector they would be staring at my abstract art wondering if some of those pieces are even authentic or not or if they were artificially tumbled. I've actually had an issue with this so I started getting them appraised after a commissioned artwork was sent back to me at my own expense until further appraisal with done then reshipped yet again at my own expense.
How are you providing the value to your customers?
What are the main activities that you do to provide the value to people?Do you go above and beyond and finish your commissions earlier than expected? Or send them expedited or priority mail at your own expense?
Do you offer free classes in your area or online on how to do certain things within art such as how to make a mixed media collage or how to sketch something in one point perspective?
Think outside the box for this part. Other than just creating your art, how else are you creating an enjoyable buying experience?
I free-hand sketch most of my paintings first from memory. This also goes into one of my value propositions. I've found that hosting a free sketching class at a local library enhanced the value that people are willing to pay for. Once they try to do what you are doing and see how difficult and time consuming it can be to get everything awesome looking they have no problem paying top dollar anymore. This was not an easy move by any means don't get me wrong. All kinds of things popped into my head right before the class started that should never have even crossed my mind.... what if someone completely takes my idea and outdoes my business? What if someone notices that I'm completely a self-taught artist and I'm exposed.....Well, neither happened and after I got over my own anxious introvertedness I realized that its better to at least try than to not try at all!
Who can help you and who can you help?
I briefed on this topic in the last post, when clients are asking you what you do and making you offers for areas that you aren't the best at. This is a perfect opportunity to partner with someone who specifically does what the client is asking for.A strategic alliance or joint venture are the two most popular in business terms. In artist's terms, I'd like to refer to this as paint + canvas = a painting
Paint of any kind cannot equal a painting nor can a blank canvas but together they make a great pairing!
This is what secured the huge B2B deal that I spoke of. This is basically either two important avenues that you should invest some time in investigating further.
1.) When someone already has their foot in the door within the market that you are trying to enter.
2.) When someone provides something that you personally are not skilled at, however, your clients are requesting it at top dollar that lights up your eyes.
When paired correctly the first option is called a strategic alliance. This should usually involve a contract at some point however, it doesn't have to. Many galleries at community colleges, arts centers, and libraries are perfect places to showcase your art at no cost to you. Some request that you give back to wherever you are showing at super low rates of 2-5% of any sales made while on exhibit.
I walked into a local coffee shop in my area, small town Ashtabula, OH, and asked the owner if I could fancy her blank wall with one of my paintings I mysteriously had in my trunk already...I was shocked by the owner's excited, "yes!" as I appeared with my painting in the next few minutes. I haven't sold that piece yet however, I've received many commissions from the business cards I left there.
The second option that is most popular in the art world is called a joint venture or partnership in business mumbo jumbo. In the art world, I would like to relate it to painting with acrylic paint versus a painting with oil paint. Both are awesome mediums, however, produce rapidly different paintings.
Some consumers want an oil painting and some people want an acrylic painting that's all there is to it. If you're an oil painter mostly but you know someone that mostly does acrylics and that's what they're known for but your customers are asking for this and you know you'd have to completely switch over but the price is too good to be true....it would be a great idea to partner up with that other artist definitely with a contract after negotiating specific terms of referrals between each other and what percentage will be earned by the referring party.
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