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Have you heard what they say about us?

• We are flaky• We’re not interested in profits• We always rely on subsidy• Why don’t we do the popular stuff?• Why don’t we get a Proper Job?

Talk to the hand!They say:

Most creative businesses are like those in the computer games industry – they tend to be small, under-capitalised and under-managed.

They get by with improvisational entrepreneurship, by the seat of their pants.

(Charles Leadbeater, 2004)

Left brain, right brainWe say:• Students on arts and creative courses are generally

more practical, ‘right brain’ and lateral thinkers than many of their peers.

• As such, many of these students already have the latent competencies required for entrepreneurship

(Roepke 1998 et al)

What is the reality?

• Creative entrepreneurs are driven by the work itself– For others, being in business is an end in itself

– For creative entrepreneurs, being in business is a means to an end

The reality• Creative enterprises are characterised by

freelance or micro businesses– Portfolio workers adapting their skills to a range of

employers– BUT minimises need to take on responsibilities for

leadership, management, human resource development etc

– Limits potential for business growth

The reality

• The sector does not conform to traditional industrial definitions –

– Prototype, equipment, reproduction and distribution

– Sector is often more collaborative – eg games, writers and musicians; songwriters, singers and record producers etc

The reality

• Creative entrepreneurs are not driven by the market – they often make the market

– Rarely undertake market research

– BUT need to develop ‘bread and butter’ product lines

• Big companies grow from exploitation of micro’s IP – record companies, producers, publishers etc

The reality

Creative entrepreneurs appear to be ‘financially risk averse’ not because they are airheads but:

• They want to protect their integrity• They want to retain control• They take unintelligible risks • They may not know the business rules of the

game• BUT they will improvise –

The reality• Creative entrepreneurs tend to go for local

markets – Fear of strategic planning– Weakness in making connections– BUT Knowledge economy makes global business an

opportunity even for new creative entrepreneurs

The reality

• Creative entrepreneurs have difficulty in accessing finance– External perception of sector as ‘high risk’ and ‘bad

managers’ limits opportunities for investment– Needing to access the tools – Creative solutions being sought

So what is a Creative Entrepreneur?

• A Creative Entrepreneur is any artist or creative practitioner, working in any field of the arts or creative industries, who works as a freelance or sole trader and earns his/her living using her creative talent and skills.

For example…..these are just some of the areas of work….• Actors, dancers, musicians• Directors, choreographers, lighting and sound

designers & technicians, artist management• Painters, sculptors, writers, journalists• Film makers, radio and online media

professionals, games developers, • Designers in all fields, from fashion to software• Communications professionals, from advertising

to PR

First steps…..

• To be a successful creative entrepreneur, you need various skills and attributes underpinning your creative skills

• We have identified the Top Ten Attributes (or Critical Behaviours) that seem to characterise the most successful creative entrepreneurs that CidaCo works with

• No one is brilliant at them all – but you should know your own strengths and weaknesses to build a successful future

Top Ten Critical Behaviours for Success

• Key behaviours

• Not in any hierarchy of importance!

• Based on observation and experience

Values - led

• A clear sense of values and beliefs underpinning creative and business decisions

• Particularly in difficult or challenging circumstances

Conceptual thinking

• Uses fresh approaches• Comes up with crazy new ideas leading to new

or radical change• Listens to new ideas without pre-judgement

Strategic Thinking

• Valuing the planning process• Planning over a significant period• Recognises external trends and opportunities• Thinks through complex implications for the

business

Commercial Aptitude

• Keeps up to date with latest developments• Seeks out best practice• Identifies and seizes opportunities not obvious to

others

Project Management

- Planning and managing to turn ideas into reality - Managing critical links between people, ideas and

information at all stages in the project lifecycle- Understanding how to negotiate, how to communicate

with tact and reach agreements which are acceptable to the project

- Evaluating effectiveness of project planning and implementation

Risk Taking

• Operates from hope of success rather than from fear of failure

• Persists in pursuing goals despite obstacles and setbacks

• Sees setbacks as due to manageable circumstance rather than as a personal flaw

• Learns how to assess choices responsibly• Weighs outcomes against values and

responsibilities

Customer Sensitivity

• Builds long term relationships of trust• Generates expectation of high level of customer

service• Regularly exceeds customer expectation

Networking

• Understands networking is a key business activity

• Networks provide access to information, expertise, collaboration and sales

• Careful planning and preparation leads to desired results

Leadership

• Builds total capability of the team – including freelancers!

• Creates common purpose through shared vision and values

• Always considers principles of inclusiveness in planning and dealing with others

• Walks the talk!

Innovation

• Uses imagination to develop new ideas and insights

• Turns innovative ideas into products, services, business processes and relationships

• Ensures that innovative ideas have potential to add value

The Creative Entrepreneur

• Technical skills – marketing, cash management, etc – very important

But first………..

• Where’s your head? Where’s your heart?

The Creative Entrepreneur Toolkit

Your chance to assess your own

attributes and skills!

Follow this link to continue your assesment

http://www.slideshare.net/CIDADawn/the-creative-entrepreneur-toolkit-shared