When I was studying dance and creative writing in undergrad, I remember feeling like I was in utopia: able to work on creating my art uninterrupted and surrounded by incredibly talented teachers and genius artists. I was creating innovative performance art with phenomenal artistic leaders supporting me every step of the way, and was grateful beyond belief.
Every Wednesday I would have lunch on the Great Lawn next to a group of business majors who sat near me under the same tree. During that time I would wonder what I was missing about how to make business decisions for my art. Finance was something I was intimidated by, even though my uncle had been talking to me about the importance of understanding economics and the stock market from when I was six years old.
Then one day I was standing in my Monday morning Ballet technique class, when our professor, who had danced in some of the most renowned companies in the world, said, “dancers are the happiest people. You’re going to be broke for the rest of your life, but you’ll be really happy.” I stopped dead when she said that as my stomach dropped to the floor. I loved being a dancer, but I didn’t want to be broke for the rest of my life! That meant so many things- not being able to take care of myself, neglecting my health, limiting my choices in how I lived my life, where I chose to live, who I surrounded myself with. Basically, being broke to me meant giving up living my life to the fullest. She finished her thought by saying, “dancers are not made to make money. You’re meant to move and make other people feel good.” I knew, wholeheartedly, that was not the truth for me. I simply believed I was meant to do more through my art than just make people feel good.
Shortly after that class, David Parsons of Parsons Dance came to teach a Master Class. His company was extremely successful at that point and they were doing incredible things, touring the world and performing everywhere. One of the questions he was asked was how he built such a successful Dance Company in the midst of so much competition and limited resources. He said, “I learned to run it like a business. It wasn’t easy, and we work really, really hard. I suggest you all learn how to do that.” When some people groaned, he said, “aren’t you going to work really, really hard no matter what? You may as well know how to create a pay off for yourself in the process.”
Eureka! Yes, I was going to work really, really hard, no matter what, as I always had. So if I just needed to learn how to approach my art like a business, couldn’t I then build the kind of business I wanted, just like David had? I remember talking with him afterwards, asking him how he began to put together a business plan for his company, what his mistakes were, what right moves he made. He spent time answering my questions until I had asked all that I needed. In the end, I saw that he had put some seriously hard hours into learning the skills he needed to build it, worked jobs on the side in order to fund it and then crafted it to meet the needs of his own life and his company members. I also saw that he was able to hold a huge space in his life for BOTH his art (he was one of the most renowned dancers in the world) and for his business, something I wasn’t entirely convinced was possible before then.
I was serious about understanding the technical side of how a business worked, and was lucky enough to find a mentor to teach me exactly what I needed to know. Roger Webster, who owned one of the most successful, reputable PR companies in New York City, allowed me to work next to him for a year. During the time of my mentorship, I learned from Roger there are three parts to a business plan statement that the owner must have clarity around in order to build a solid foundation from which the business can grow. Recently, my teacher Todd Herman, founder of The 90 Day Year, and coach to million-dollar and billion-dollar businesses, re-enforced these three pillars as essential to the life of any successful business. If any of these three parts are missing, the foundation will lack direction, which can swiftly lead to a downfall in a number of ways.
The moment you clarify these three parts for yourself, you will enable yourself to create a strong business that matches your values, your vision and your mission as an artist.
1. VALUES
A business is born from a single idea that brings to life the values of the owner that she has a deep desire to share with the world. No matter what the idea is, the owner must get in touch with where it came from so she can remember what she intends to do with her business now, and in the long-term. This is the deepest part of developing a business plan statement that ensures you are starting from the right place.
Here are the 10 core values of Zappos, the online retail company started by Tony Hsieh, which is the leader in the industry in customer service and customer loyalty. There was never a better customer support system for an online retailer in place before Zappos, as Hsieh built the entire company around giving outstanding customer service based on his belief that should exist. Below is his list of the 10 top values upon which he built the company’s foundation:
1. Deliver WOW Through Service
2. Embrace and Drive Change
3. Create Fun and a Little Weirdness
4. Be Adventurous, Creative, and Open-Minded
5. Pursue Growth and Learning
6. Build Open and Honest Relationships with Communication
7. Build a Positive Team and Family Spirit
8. Do More with Less
9. Be Passionate and Determined
10. Be Humble
2. VISION
The vision you have for your company can only come from your own realization of what you want to see happen as a result of dedicating yourself and your work to achieving something greater than what you’ve been able to achieve until now. A vision may often appear grandiose the first time you say it, but it has the ability to motivate you to work toward creating something you know you must create, without question, as well as fulfilling your grand idea in real time, through the business you build around it.
Here is Bill Gate’s vision he had for Microsoft as he was first building the company: “To put a computer in every house around the world.”
You can’t argue that he has come closer than anyone could have anticipated to actually fulfilling that vision. You have the ability to do the same with yours.
3. MISSION
From your values and vision come the mission you intend to uphold in order to bring your business to life. Your mission explains HOW you intend to execute your vision based on your values. This forms the heart of your business plan statement.
Take a look at the mission statement of Zappos, which comes directly from their list of values, which in turn forms their vision, listed above.
“To provide the best customer service possible.”
Here is Microsoft’s mission statement:
“At Microsoft, our mission is to enable people and businesses throughout the world to realize their full potential.”
You can see that the mission statement for both is clear, concise and to the point, while encompassing exactly what the founders believe in and are passionate about giving to the world.
I wanted to be able to pursue my art without feeling like I needed to compromise my entire well being in the process, and I know you do too. DOWNLOAD your Business Basics Worksheet Here to begin to begin to put those skills into practice!