1. CHARGE MORE. The number one thing I learned in my first year is to set higher prices. I’ve been stuck in the imposter syndrome mindset for so long, still feeling like I’m a beginner in ways, and realized that I needed to start calling myself a professional working artist (because I am!) As soon as I made that connection, I knew I needed to start paying myself like a professional artist, too. If I wanted to have a stable income and be taken seriously in this field, I had to get comfortable asking for more money. That’s not an easy thing to do, and takes some serious mind work. I invested in the ‘Graphic Artist’s Guild Handbook: Pricing & Ethical Guidelines’ and joined Facebook groups with other artists that openly discuss pricing standards. This was a huge help and provided the reassurance I needed!
2. FIGURE OUT THE LOGISTICAL STUFF FIRST. Before diving into anything business related, do your research and make sure you are doing it correctly (and legally) from the start! I’m a true DIY-er and the type of person to skim instructions and how to’s and just figure it out myself as I go. Not always the best idea when it comes to running a business. When registering and setting up your business, make sure to research state laws in your area and if there’s any rules you may have to follow in terms of selling, taxes, etc. They are different everywhere! Something I wish I had set up from the get-go was how to pay myself. Depending on the type of business you are registered as, there are rules to follow with paying yourself as well. Investing in an accounting software like Quickbooks is a really helpful way to keep all your business expenses separate from personal expenses. I wish I had done this earlier so everything was organized in one place and it’s not such a scramble come tax time. And just like in your personal life, it’s a good idea to come up with a separate business budgeting plan.. talking with a financial advisor or bookkeeper can really help you there.
3. YOU HAVE LESS TIME TO MAKE ART THAN YOU THINK. I really thought that with all this extra time from quitting my day job, I’d be painting and creating almost daily. That is pretty far from reality, honestly. A lot of my creative work is still done after hours at night, which is totally fine as I have made a rule that I can only work on personal passion projects after dinner! The truth is, working for yourself isn’t always as glamorous as it sounds. My days are still mostly filled with emails, contracts, spreadsheets, fulfilling orders, marketing, etc. Unfortunately, when your livelihood depends on it – the businessy stuff has to come first.
4. THINKING IS HARD, DOING IS EASY. I have dubbed this statement my motto for the new year. As a chronic overthinker, decisions are the bane of my existence. As I mentioned in point #2, I am a DIY-er at my core. Meaning, I like the doing part and I really like the done part. I feel this can be a blessing and a curse. I often will dive right into projects or new ideas without giving it much thought or preparation beforehand. Without formulating any real sort of plan, I will often make mistakes and end up with wasted energy or supplies because I didn’t think it through first. However, because I primarily learn by doing, I am not afraid of failing the first couple of times because I know that it will serve me better in the long run. Making mistakes leads to lessons learned. So, while thinking may be hard for me, I am practicing more thoughtful preparation tactics without carrying the emotional baggage along too.
5. HAVE PATIENCE WITH YOURSELF. You can’t do it all, all the time. As a soloprenuer (or just your average busy adult), you often will have a million things on your plate, and feel a sense of urgency to get it all done so you can breathe again. One of the most important lessons I’ve learned (and this goes for most things in life) is to have patience. Forgive yourself if you didn’t complete all the things on your to-do list. Forgive yourself if you didn’t get it right the first time. Give yourself a break and have some patience. You know the saying “good things take time”? Yeah, that.
Well, those are my biggest lessons learned in my first year of entrepreneurship. I think these will also be applicable for many years to come. Always and forever learning, that’s a good thing!
Love, Emma