Cash is King & Queen when it comes to business
If there is one thing I learned as a Business Consultant, Cash or the availability of it is the first indicator of the health of a business.
It's like the business litmus paper.
It tells you so much about the business.
Its Payment Terms
Its Creditor Debt
Its Debtors
Its Stock
Who you want to do business with and most importantly who you don't. So many companies have a great product but fail to manage their cash flow and ultimately fail.
Artists tend to be incredibly trusting and in many cases fail because they run our of money. All it takes is for someone to hold their hand and ensure that they don't over commit. It's no good selling something if you don't get paid for it. I know it's exciting when a gallery agrees to exhibit your works, so exciting that you agree to their penal commission of 60% of the selling price. Then worst of all they take 30 days to pay you if you are lucky or worse forget to tell you they have sold your art until you chase them.
That's why we started Art-Club Business. Everyone needs someone to report to. It keeps you sharp and most importantly helps you to make better decisions.
Why not Join Art Club Business and let us be your guide?