Profits differ from net income, and no where is there clearer than for small business owner-operators, artists, and creatives. Just because you have a certain amount of money left over after covering expenses doesn’t mean you’ve made profits. Why? Because you have to factor in the cost of your labor and the risk you took and so after factoring that in, millions of small businesses and artists and creatives are operating with little to no profit. However, it doesn’t have to be this way and so we wanted to create a space where sharp entrepreneurs and creatives could come together and discuss the challenges to profitability and potential solutions. If you have something valuable to add to this conversation that can help others achieve profitability, please reach out to us as we want to get your ideas in front of our readers.
Tonia Wilson
What’s the biggest challenge to profitability in your industry in terms of support from others and securing financial assistance from banks? Read more>>
Shelissa Jones
As a Black-owned creative business, Ebony By Design operates at the intersection of art, identity, and entrepreneurship—an inspiring space full of potential, but not without its challenges. Profitability is not solely determined by artistic talent or quality of work; it is deeply influenced by systemic factors that often create barriers for businesses led by Black creatives. Here are some of the most pressing challenges impacting long-term profitability: Read more>>
Mara Audibert
When it comes to baking, you want to make sure your product is perfectly replicated, consistent and delicious each and every time you sell a product. One bad bite or experience could cost you a customer and sale. Using the same clean ingredients for each batch is key and with costs rising for ingredients, it can make it challenging for bakers to maintain the same high quality product with less and less profit. Every loaf of bread, batch of scones, and dozen of muffins takes precious time and quality ingredients to create. Read more>>
Adam Lovell
The biggest challenge to profitability in the wine industry, especially for my business, is working with people’s perception of value. I work with small producers who make artisanal, minimal-intervention wines. These wines are labour-intensive to produce and only possible on small plots, resulting in limited quantities but outstanding quality. The producers are deeply connected to their land and use holistic, natural methods. Read more>>
Chad Wilson
“The hardest thing in this industry is getting paid”, MTSU Recording Industry Law Professor, Circa 2006
When I was 21 I made good money and had great benefits. I was hired as the youngest Wildlife Officer for the Ohio Department of Natural Resources. For some reason the state entrusted me with all the toys to chase poachers through the fields and waterways of central Ohio. Being an extroverterd creative who is conflict avoidant, it didn’t take long for my young wife Rachel to help me realize that I made a “terrible mistake”-Arrested Development reference… Read more>>
Michael Woodruff
Touring is the only way to make any money in the music industry. We live in a time where you can spend $11.99 a month and get access to almost all of the music in the world. Great records can be made in a bedroom, so the market is saturated. With that said the payout per stream is kind of a joke. On a very popular “green” music streaming platform you are paid about $0.003 per stream. That means your song needs to stream 4 times for you to make 1 shiny copper plated zinc penny. Read more>>
Chanel Cardenas
In the event decorating industry, one of the biggest challenges to profitability is balancing client expectations with the actual cost of materials, labor, and time. Many people see the beautiful setups and assume it’s highly profitable, but behind the scenes, expenses like high-quality decor, customization, and transportation add up quickly. Read more>>