Risk management for artists??? Huh?
YUP. Risk management. Many of us think that this term does not apply to us artists / entrepreneurs. Just to those corporate folks, who work in big tall buildings and deal with financials or government stuff. Well, I’m here to tell you that we’re wrong. And luckily, I have a subject matter expert (SME) at my disposal. My dad, Joseph W. Mayo, is a leading expert on risk management and is known internationally for not only his knowledge but being able to foresee and mitigate risk at all levels (in addition to being a published author of two different books on the topic…). Why should you care? Because I’ll be using me and my art business as a guinea pig as he guides me through managing risk in my own endeavors.
Case in point – the storm that hit Maine, October 30, 2017. You know, the one that left half a million people without power for a few days. My family was without power for four days. I’ll be covering natural disaster preparations in future posts most likely. There were RISK MANAGEMENT strategies that I could have had in place before we lost power that would have enabled me to continue working my business….had I listened to my daddy.
Risk management for the artist includes topics like
- equipment repair and/or replacement
- health insurance
- life insurance
- natural disaster preparation
- financial ebbs and flows and how to prepare
- and soooo much more
The first one I’ll be tackling is how to manage risks when mother nature strikes since that is the most applicable case for me and my art business. So stay tuned!!! Be on the look out for how to create a portable emergency solar recharging station…for under $300! We spooniepreneur’s have to be frugal!
Shawna is a ceramic sculptor and mixed media artist who loves sharing her passion with others. She is a teaching artist and a strong advocate for the arts being accessible to all. To support her endeavors, consider subscribing to her members-only group! There are a variety of subscription levels starting at just $5/mo