Managing cash flow successfully is one of the greatest challenges for any small business. It is a particularly difficult issue for artists and galleries where sales often spike and dip. Artwork doesn’t tend to sell in regular patterns, and because of the high value of many pieces of artwork, when sales do occur they often cause a real spike in an artist’s or gallery’s income.

This irregular cash flow can cause logistical (and emotional!) problems for those of us in the art business. I would like to share a few things I’ve learned over the years about managing cash flow in the hopes that my experience might help make you a better manager of your cash flow.

As an artist in the digital age, chances are you have to write emails on a regular basis. You might have to use email to approach galleries, maintain current gallery…

There is nothing more exciting than selling a piece of art. If you are directly involved in the sale process you will feel a rush of excitement and accomplishment, as…

Not too long ago I received the following question from gallery owner Steve Harrison:

I had a visitor in my gallery yesterday and asked, “Now because this is original art it won’t depreciate will it?” How does one answer that question. I spend a lot of my time trying to figure out an answer to that question. Of course, a person should buy what they like and no one should ever bank on an “investment” whatever that might be. Still when a person is spending gallery prices for original art, the question “Will this painting retain its value” is a question that deserves an answer. How do other people answer it?

Having spent over 20 years in the gallery business, I’ve noticed a key common trait of financially successful artists: they are constantly in the studio, hard at work. I would describe these artists as productive and prolific.

The realities of the art market today are such, that in order to generate regular sales and establish a strong collector base for your work, you have to have significant inventory. To a certain degree it’s a numbers game. You have to have enough work available so that you can show the work in a variety of venues and get the work in front of enough people to reach the buyers.

Do you think it’s a bad business move to give yourself an artist name? If when you may concerned or want to protect your private life from your business life would that be a sufficient reason to have an artist name?

I was wondering what your thoughts were?

–Victoria

Many artists have asked variations of this same question. I’ve worked with artists who use their real names, along with a number of artists who have adopted pseudonyms. It’s quite common for actors and authors to change their names.