The End Is The Beginning

Much is made of entrepreneurs who have failed (miserably) at one venture only to rise again in another.  Most times though, the focus is on the rebirth and not on the dying.  Rebirth is the “happily ever after” part that we all want to hear about and believe in to keep going in what we are currently doing.  However, having made a huge mess of things the first time around, I can say that I would do things so much differently if I had to do it again (which I pray I never will).  Whether you are confronted with shutting your creative business down or having to re-invent your business given today’s new world order, the lessons are the same.

The first is to own your shame.  You made mistakes and your personality only intensified them.  Whether you are too controlling, too trusting, too lax or too anything, that trait made you what you are and what you are not.  In your creative business, it is knowing what you are not as much as what you are that will be your first step in moving forward.  Once you own your shame, let it go.  Focusing on the mistakes you made and the predicament you are in will only bring tunnel vision.  You can’t make any decision if you can’t see past your nose.  You have to have perspective to see opportunities.

The next is to believe in the possibility of radical change.  If you can see the future, you can manifest it.  But before you do, it is a good idea to jettison everything and everyone who is not willing to go where you want to go.  Stop the bleeding everywhere.  Your business can not be about generating revenue to repay vendors and keep people employed all the while you get in deeper and deeper.  Better to have a smaller profitable business, then a big loser.  My guess is that vendors and creditors would rather have a chance to get their money back over a longer period than to get nothing.  If you are the person fielding all of these dunning calls, address the situation head on with each creditor and then assign the task to someone else to make a plan you can stick with.  Your job has to be about creating a better future for your art and your creative business, fully aware of today’s reality, but not mired in it.

The next is to write a business reinvention plan.  A reinvention plan surveys the assets you, your art and your creative business possess – physically, energetically and even spiritually.  The plan then blue skies what these assets can create – a new product, service, methodology, etc.  Nothing is out of bounds. Then the plan ranks each idea on the list in order of practicality – how hard would each one be to get going (i.e., time, money and energy).  Only after you have thought of practicality should you think about profit.  You can’t make a billion dollars if you can’t get out of the starting gate.  Once you have an idea of absolute profits, assign risks to the profits of each item.  Retailing hard goods may only generate a ten percent return, but hard goods don’t rot or call in sick.  At this point, I am guessing that one or two opportunities will be jumping out at you.  These are the ones that deserve your attention and resources — today. 

If it means shutting your current creative business to bring your new ideas to fruition, then so be it.  Suffice it to say there are many people today expert in shutting down businesses well.  Find one and make it happen.  Sounds cut and dry, but know you will have had to have done an incredible amount of work to get there.  And if you can make use of  what your creative business currently has to take advantage of the new opportunity, so much the better.

Change is a process, as much a reflection of you as an artist and business owner as the world we all live in.  The desire for change is what propels all of us toward the future.  No matter the chaos, you can have perspective if you choose to have it.