Do you want to start a creative business? Here are 7 keys to help your creative startup succeed
Using the definition provided by John Howkins the author of ‘The Creative Economy: How People Make Money From Ideas’. The creative economy comprises advertising, architecture, art, crafts, design, fashion, film, music, performing arts, publishing, R&D, software, toys and games, TV and radio, and video games.
So with that in mind let us answer the first question ‘What is a Creative Business?’ It is any business that uses the exploitation of ideas to make money. Here are a few businesses that are part of the creative economy Wedding & Events Planner, Blogger, Influencer, Publicist, Graphic Designer, Poet, and writer. These are some of the common ones we can identify with in Zimbabwe and can track some individuals around us who are making money from ideas.
The basics of any business are the same as you think of starting your creative business you need to know the fundamentals of business. A business is based on supply and demand, as an entrepreneur one aims at seeing a need and fulfilling it and in the process make a profit. Then the question is what does a creative do in this same situation? The answer is summed up in two words ‘Great Work’.
Great Work is your biggest tool in developing your idea, it will create demand for your service, skill or product. You might be asking yourself how will this happen. The answer is anyone who will see your great work will recommend others to check you out. In the process, you will make a sale that will translate to profit, not forgetting good planning and clear goals.
Here are some key points that are vital to the success of your creative business;
- Demand: Who is buying creative products or services?
- Competition: Identification of others that are doing similar creative products or services. Who is selling creative products or services?
- Licensing: Do you need to register your product, or your brand, in some cases you would need the protection of an association.
- Funding: Does your creative business need capital to start and grow, in the idea stage calculate everything together with the interest of money borrowed.
- Commitment: As a person starting a creative business you need to be committed and involved at every step of the way.
- Support: Get all the support you need from your family, friends, financial support etc.
- Management: Get people who are experienced, who are passionate, and drive can your business forward.
So, in a nutshell, you can start a creative business you need to define what you do, where you going, and what success is for you. When launching a creative business, there are many factors to take into consideration but the key is to start experience is a good teacher. The reality also is that not all ideas but only some ideas you have may be suitable to pursue, go for it start now, begin your start-up creative business. As a creative take your art, skill or talent as a business get your plan together and be committed to the success of your creative business.