Then, add the line of income by line.
Strategically growing your art business can be done by asking yourself some crucial questions that can aid you in reaching your savings goals quicker.
Where did the bulk of your earnings come from this year's? Did your income at the end of the year compare favorably with previous years? What was your work in terms of time, material and cost?
Are you in a high-income-generating activity or work?
Get as specific as you can in your breakdown, by thinking about what type of artwork that was most popular throughout the year. You can analyse your data by looking back at your
Income from the previous year. Artwork Archives Insights feature allows for you to see the breakdowns in your sales so you can see exactly where your works are located.
Selling the most, the cost of the work sold, sales over the period and a breakdown of the inventory you have.
Review your budget each year
Take your expenses and create a rough projection of your yearly expenditures. Then, you can track your spending habits to meet your financial goals.
These worksheets will allow you to break down your budget into quarterly, monthly and annual segments. So that you are able to organize your budget for every month, ensure you do.