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30FG EP32: Why Being Talented Creatively is No Guarantee For Business Success
This week we are privledged to have Architect Mark R LePage of FiveCat Studio also the host of the Entrepreneur Architect with us to discuss a topic that is relevant and important to anyone wanting to own a business.
This interview will give creative business owners and freelancers some practical insights into the difference between being a creative and being the owner of a business that provides creative services. It’s common knowledge that most business fail. Several might make it through the first year, about half might make it through the second, and every year after that it seems, the number of people who stay in business just keeps on halving. This is true for everybody, including creatives. The question is, why is that? We have all the information we need, a lot of it for free, about how to start and run a business. On Amazon alone right now there are OVER 2 million books listed under the term “business”. We come from fortunate educated backgrounds and many of us have worked for successful companies. Why then do so many people fail, and what are we to do about it?
My hunch, and I base this on personal experience, is that as creatives, almost all of us at some time reach a point where we start thinking, “Hey, I’m really good at my job, I don’t need this employer, I’m certain I could be much more successful financially if I worked for myself.” It’s at that point that they miss an extremely important distinction.. Being talented and successful creatively, does NOT qualify you one bit to run a business.
This discussion is for the creative who is contemplating starting their own practice. They’ve most likely been working under someone else’s wing for a few years and are feeling the urge to get out on their own, probably for the flexibility and the dream of being their own boss and being in control of their finances. I admire them and encourage each one to do what their heart tells them, but before they go, this interview will arm them not only with a few basic truths, but some excellent ideas of what to do next to improve their knowledge and chances of success.
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By Shah TurnerThis week we are privledged to have Architect Mark R LePage of FiveCat Studio also the host of the Entrepreneur Architect with us to discuss a topic that is relevant and important to anyone wanting to own a business.
This interview will give creative business owners and freelancers some practical insights into the difference between being a creative and being the owner of a business that provides creative services. It’s common knowledge that most business fail. Several might make it through the first year, about half might make it through the second, and every year after that it seems, the number of people who stay in business just keeps on halving. This is true for everybody, including creatives. The question is, why is that? We have all the information we need, a lot of it for free, about how to start and run a business. On Amazon alone right now there are OVER 2 million books listed under the term “business”. We come from fortunate educated backgrounds and many of us have worked for successful companies. Why then do so many people fail, and what are we to do about it?
My hunch, and I base this on personal experience, is that as creatives, almost all of us at some time reach a point where we start thinking, “Hey, I’m really good at my job, I don’t need this employer, I’m certain I could be much more successful financially if I worked for myself.” It’s at that point that they miss an extremely important distinction.. Being talented and successful creatively, does NOT qualify you one bit to run a business.
This discussion is for the creative who is contemplating starting their own practice. They’ve most likely been working under someone else’s wing for a few years and are feeling the urge to get out on their own, probably for the flexibility and the dream of being their own boss and being in control of their finances. I admire them and encourage each one to do what their heart tells them, but before they go, this interview will arm them not only with a few basic truths, but some excellent ideas of what to do next to improve their knowledge and chances of success.