That is the question, and the answer is… it depends.
However, the answer boils down to this:
To Make a Living Doing Art, You Need to See it as a Business.
I know this is a hard pill to swallow for most of us, artists, and I know we are not typically taught this in art school, but to run your art business successfully, you need to see yourself as an entrepreneur. There are not enough grants in the country to support us all.
You need to educate yourself about finances and learn how to run a business successfully.
According to a survey by Creative Independent, only 12% of respondents said that on a scale of one to 10, with 10 being the highest, they did not feel at all financially stable. By contrast, only 3% rated their financial stability at nine or 10.
The median income for respondents was just $20,000 to $30,000, with 60% making less than $30,000. According to the 2016 census, only 19% of artists make over $50,000 a year.
Making a Living as an Arti$t
But Don't Panic! Where there is a will, there is a way.
Amy from Pikaland suggests the following before you decide to quit your job:
“Make a list of things that you hope to accomplish (by quitting) – whether it’s getting freelance clients, getting paying customers, having a book deal in hand, or opting for another less hectic part-time job – before you can give yourself the green light to dive full-time into your art.”
At first, you will be wearing many hats. Not only will you focus on creating amazing creative pieces, which is complex enough, but you will need to become your own boss, admin, marketer, advertiser, social media manager, accountant, etc. Taking some classes might be worth it to acquire any skills you currently lack.
So, how do artists make it work? A vast majority of artists have multiple sources of income.
61% do freelance work
42% have other jobs—none-art positions.
10% make art 40 hours a week or more.
Nearly half of the artists surveyed attribute less than 10% of their income to their art practice.
You have to be willing to make some sacrifices in the beginning and reduce as much as possible your expenses if you want to live as an artist.
It is not easy but is doable, and please keep in mind that it can take some time before you see the fruits of your efforts.
Here are 5 actions you can take to begin to plan your business:
1. Read some books about it: “Quitter” by Jon Acuff, “Making Ideas Happen” by Scott Belsky, “Manage Your Day-to-Day” by Jocelyn K. Glei and Scott Belsky, and “The Artist’s Guide” by Jackie Battenfield.
2. Take a look at your finances and start cutting any unnecessary expenses. It is recommended to have at least 6 months of expenses in savings to start a small business. Dave Ramsey has a program that can help you achieve your financial goal in a short-term fashion.
3. Write down your business goals and objectives. You can start by writing down how much income you need to make a year to support yourself and include a list of expenses that need to be covered. Budget your time as a creative and your time as a business admin. You will feel like you are working three jobs for some time because this is how most small business owners start. Be as detailed as you can.
4. Create a timeline, assign a due date to all the actions you need to take to make your business a reality.
5. Network efficiently. Find a local group of small business owners, artists who own a business and become part of the business community. You can create partnerships and get some support from the more seasoned entrepreneurs. Participate in your community by volunteering once in a while in a meaningful event that will bring attention to your business.
I don’t want you to feel that I am discouraging you, on the contrary, I encourage you to plan a strategy that can allow you to do your dream job 100% of the time!
Are you considering quitting your full-time job to do art full-time?
Have you already done this? Please share your experience and tips that have worked for you so that we can all learn from each other.
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