It will help you expand your business in the art field and make money by asking the right questions.
Where did most of your earnings come from this year? Did your year-end income total match with previous years? What was the price of effort, time and material?
by your most lucrative income-generating activities or works?
Get as specific as you can in your breakdown, by thinking about what kind of art work was sold the most throughout the year. To analyze your data, reflect at your
The revenue for the previous year. Artwork Archive’s Insights feature allows for you to view the breakdowns in your sales to see precisely where your works are located.
The selling price, sales history and breakdown of the current inventory.
Make sure you review your budget each year
Make a list of your expenses and make an estimate of your annual expenses. Then, you can track your spending habits to meet your financial goals.
These worksheets will allow you to break your budget into quarterly, monthly and annual segments. So that you are able to organize your budget for every month, ensure you follow the steps.
The cost of studio rental will be covered.
The yearly and monthly budgets will help you throughout the through the year.
A well-designed budget can serve as a document that is continuously updated which you can reference whenever you need to. If something changes, you can update and revise your budget. Knowing what your budget is will help you make informed choices.