New Orleans Photography EXPERIENCE Message Board Photography › 80/20 Rule to Succeed in the Art Business

80/20 Rule to Succeed in the Art Business

Rebecca
MaxFinger
Group Organizer
New Orleans, LA
Post #: 152
The 80/20 Rule is an old mathematical formula created by the Italian economist Vilfredo Pareto. At the time, Pareto stated this rule was based on the principal that 20% of the population owned 80% of the wealth. In later years this rule has been used in many different ways and you have probably heard a few of them too, such as: 20% of the salespeople produce 80% of a company’s sales. Or 20% of the employees produce 80% of the companies’ profits. Another is that 20% of the population pays 80% of the countries’ income taxes! My rule is that an artists should be spending 20% of their time creating art and 80% of their time marketing and administering to their art business in order to be a successful artist. READ More
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