You may have heard that defining your Why is important to any business plan. It is usually the first question you are asked to answer when following a business plan template, regardless of your industry. When a bank official is interviewing a candidate for a business loan, they usually ask the applicant to answer this question while considering them as a candidate for financial support.
You may be wondering, ‘why is this so important?’ And ‘how does it apply to me, as an artist, if I’m not looking to apply for a loan for my business with my art anytime soon?’
I used to wonder this- in fact, this question used to annoy me. I remember thinking, time and again, no one needs to know why I’m starting my business. I don’t see how this is any of their business, or how it will help grow my business if they know this!
Then, one day, I was in a writing workshop with Stephen Adly Guirgis, playwright extraordinaire, who shed a light on the purpose of expressing my Why once and for all: you always have to know why. That’s what makes good writing. If the writing is good, it’s because you know your purpose and that’s what people feel through the story you tell.
EUREKA!!! This changed my way of writing, acting, dancing and doing business FOREVER.
Creating art and creating a business are very similar creative acts that require the same level of fundamental truth that is your own, unlike any other. It is this truth that people resonate with, trust and support for the long-term.Creating art and creating a business are very similar creative acts that require the same level of fundamental truth that is your own, unlike any other. Click To Tweet
The fact is your Why is the heart of your business, your unique story that sets you apart from every other artist, especially those who create similar work to you. Your Why also enables you to connect with your most ideal client as people resonate with the emotional connection they feel with your art, which comes directly from your unique and personal story.
BUT, beyond that, there is an even deeper reason: your Why enables you to stay MOTIVATED to fulfill the greater purpose that you wish to fulfill with your art. Your motivation is crucial to any business plan that promises long-term results because your business relies solely on you to guide it toward continuous growth. Without you, it will end.
Building a business take a specific amount of time and energy, and the first few years will usually not bring substantial profits. Because of this, it is essential that you remember what your greater purpose is so you don’t veer off course.
In addition to this, it is necessary for others- clients, customers, anyone who will be putting their MONEY into supporting the growth of your business- to TRUST that you will be around for a while- preferably a long while- so they know they can rely on you, hence the bank official often asking why you’ve started your business in the first place. People need to TRUST you in order to PAY you, and those who PAY you repeatedly do so because they both know you AND trust you. That is why your why is the HEART of your business!
So as an artist who is serious about building a business that LASTS AND makes a POSITIVE IMPACT on the world, knowing your WHY and being CRYSTAL CLEAR about it at all times is the key to building a business that you stay PASSIONATE about, can withstand any twists, turns or changes that come your way and ultimately brings you the financial support it needs to THRIVE and support YOU in the process.
Are you working to build a PROFITABLE business with your art with INTEGRITY and HEART? Please share your Why in the comments below!
I believe artists are hardwired to run the best businesses in the world. Help me prove my belief by taking action and sharing a theme that is integral to your art in the comments below or on Instagram using #artistsinbusiness and tag me: @alexisfedorpics!