The relevance of any business is wholly dependent on its moment in time. The confluence of technology, social trends and government determine whether your business will succeed in the long term. You can have the best sales, marketing, and social media strategy in the world, but if what you do is not relevant (or will not be relevant soon) your business will fail if you do not evolve.
For creative businesses, your art is timeless, your medium is not. Digital photography, AutoCad, color printers, and global delivery systems anyone? And as your medium shifts, so too must your focus on who the BEST (as opposed to current) consumer of your art is and will be. The evolution of your art and business will not necessarily be best received by your current customer base. Your paradox will be to decide when, if ever, to let the former go altogether and embrace the new. Think about the leather seat supplier for horse buggies. When did he move to the automobile and how?
For those of you who don't think we are at another horse buggy/automobile level shift in time, you are wrong. The availability, immediacy and supply of your art in the global marketplace is only going to grow exponentially as technology continues to improve our connectivity. While this will certainly necessitate huge change and put huge pressure on you, it will also create immense opportunity to operate your business (and create your art) on a much larger stage.
Ultimately, there is convergence to a trend, meaning all horse buggy owners will become car owners. All of you, I am sure, have a firm grasp on the trend in your business (and art). Knowing which clients will go with the trend first is not the goal. What you should be thinking about today is knowing when MOST (and new) clients will make the shift and what THEY will want. You can then shift your current strategy to speak through your existing clients to reach those you want in the future.
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Brilliant – and well said.