Managing creative businesses
Strategic thinking and planning for success
When it comes to managing a successful creative business or charity, having an entrepreneurial mindset will help you spot opportunities – and act. Innovative thinking and strategic planning will prepare you for large projects. This involves having a solid business plan in place, managing your resources, and learning how to get the best out of your people.
Creating an inclusive culture is crucial. Nurture team talent. Encourage everyone to share ideas. By involving people in both creative and operational processes, you will create a supportive ethos. This will help you to establish guidelines and rules that set the tone and culture of your organisation. If you’re a freelancer, you will greatly benefit from aligning your approach with the companies and organisations you support.
Think like an entrepreneur…
Your business needs to be agile; continually developing and testing innovative ideas so you can compete in your sector. This involves assessing your competitors and your target audience. You need to be able to identify niches in your market and set realistic, measurable goals to achieve your targets. Plus, you will need the ability to spot worthwhile opportunities as they arise. Having both strategic and operating objectives will help you develop and grow. Combine this with improved leadership skills and team development, and you will have the recipe for success.
We have provided a range of practical tools in this area to help you start a new creative business or focus your energies on an existing organisation. Our online templates and tools include business and marketing plans, cash flow modelling, forms to help you cost a potential project, guidance on how to manage information, keep records, and measure customer satisfaction. Using financial information tools for planning innovation, as well as certain technology, will enable growth. We have also included a range of information on fundraising and charitable giving to help you find and raise funds.
From a legal and HR perspective, you will have various responsibilities including making sure you have the right insurance in place for your people, your premises and your business. We have provided resources on legislative and regulatory requirements including contract law and how you can protect your ideas.
Without regular monitoring of your performance, your creative business will struggle to compete for projects and may put off investors.
Why not join us as a member? Gain access to a vast online library of useful business tools.
Our “Managing Your Business” Resources