WhereVenue: Errol Barrow Centre for Creative Imagination
Address: Cave Hill Rd, Wanstead, Barbados
Special Instructions: Opposite to the main campus entrance.
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To fully benefit from the economic advantages of their creative outputs, artists must seek to turn their art into a business. Determining the right business model is a first step to entering the entrepreneurial world.
Many businesses today have moved away from the long formal business plan as a first step and have begun using the more expressive business model canvas. The canvas approach enables entrepreneurs to take a strategic big picture view of their potential business and evaluate it for its feasibility.
However, artists struggle with how to maintain their artistic integrity and vision while serving a consumer market with a product that will sell. A new approach to the business model canvas designed specifically for creative arts enterprises places the artist’s vision at the centre of the process. The canvas addresses:
● the desired experience
● the customer segments, their passions and interests and where to find them ● the ways to reach the customers
● key activities
● key resources
● partnerships and collaborations
● costs and revenue streams
The creative canvas will be presented using case studies of existing businesses in the creative industries, local and foreign, while working through the nine building blocks of the canvas. Attendees will be walked through how to evaluate the critical components of their own business idea while identifying some of the typical trouble spots that creatives face when seeking a viable business model.
Attendees can expect to gain both an understanding of the underlying principles and a grasp of the practical application of the canvas in assessing their business ideas and starting the planning process required to bring them to life.