Goals, Networking, and Taking Action

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Hello Artists, Makers, Crafters, and Dreamers! Here is an audio file of my talk Me, Inc., Visualizing Your Creative Practice in Business Terms. This is the first presentation in my Arts and Entrepreneurship Talks. Please note, this is just me, alone in my dining room, practicing being comfortable in front of an audience. Well, that’s not exactly true. I had an audience of four of my daughter’s stuffed animals. They were exceptionally attentive, but a bit lackluster in follow-up questions and conversation! However, the real talk at Starfangled Press went well, with eleven participants and a great round of questions and answers at the end. Thanks to the great group of creative entrepreneurs who came out to learn and support me in my education!

Getting to Know Worthwhile People

Dear Worthwhile Studio Mate,
Hello! I would love to squeeze a little valuable information out of you to better serve your creative business needs, offer fun and exciting workshops, and find ways to support you in your creative journey. Please take a few minutes to answer these five questions. I look forward to hearing from you!

Sincerely,
JOY Poe

An Art and Entrepreneurship Talk

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Starfangled Press invites visual artists to attend a talk with Joy Poe about building your business skills as an artist. Joy is an artist, and she is currently persuing her masters in Entrepreneurship at Western Carolina University. Her talk, Me, Incorporated will be held on Saturday, July 28th at 11am and is free and open to the public. Starfangled Press is located at 36 W. Jordan Street in downtown Brevard.

The intent of the talk is to help artists begin to see themselves as creative entrepreneurs. Joy will talk about setting goals, creating networks, and building an actionable plan to reach your goals. In addition, this is a great opportunity to meet local artists, arts-based business owners, and see a snapshot of the arts community in Brevard.

Starfangled Press is a Printmaking studio, gallery, and storefront. Driven by the belief that art makes life better, Starfangled Press aims to connect more art to the everyday. In addition to creating handprinted art and goods that are both fine and affordable, we offer workshops, demonstrations, and services for all levels of experience. Located in beautiful Brevard, NC Starfangled Press is owned and operated by Kristen Necessary. 

For questions or curiosities about the event, please contact Kristen Necessary at http://www.starfangledpress.com or Joy Poe at http://www.worthwhilestudio.com

Angel Investors and Artists: Harvesting

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Photo by Karly Santiago on Unsplash

When it comes time for harvesting a business, there is a sense of holding one’s breath in anticipationd, waiting for the magic to rain money from sky. Or at least that is how I envision the harvesting process. There is one crucial thing that determines harvesting, a magic word, if you will. The entrepreneur must be willing to EXIT.

That said, there is an inherent difficulty in planning a lucrative exit in an arts-based business that relies on the creativity of the founder. Just as there can be issues surrounding control with angel investors, there can also be issues surrounding how to grow the business beyond the creative entrepreneur. The entrepreneur must be willing to relinquish a certain amount of control in order to create market opportunity. Otherwise the business will likely never have a chance at a lucrative exit for investors.

In Winning Angels: The 7 Fundamentals of Early Stage Investments, authors Amis and Stevenson state that “harvesting is the endgame of early-stage investments” (287).

“Perhaps the best impact an angel can have here is to facilitate the interaction between potential buyers, bankers and others that could provide an exit event for the angel and entrepreneur” (Amis & Stevenson, 287).

Short of filing Chapter 11 or Chapter 7 bankruptcy, most other harvesting methods will create a measure of success for the stakeholders. If the company is performing poorly, sometimes these less than ideal exit strategies become the best choice. Amis and Stevenson state “strategic sales are the most common harvest method, followed by financial sales, and IPOs (initial public offerings) which are rare” (323). If an entrepreneur is willing to harvest the business, the angel investor can leverage connections to venture capitalists to find the right kind of exit. Venture capitalists are professional harvesters, keen on creating lucrative exits for stakeholders. If the entrepreneur and angel investor planned for harvesting early in the start-up process, then venture capital should be quite welcome. All the hard work creating the business, building relationships, and weathering the storms of a growing a start-up will have their reward for the angel investor, and hopefully the entrepreneur as well.