Breaking the "starving artist" mindset in female entrepreneurship and creative business
We need to talk about money.
I had a unique conversation yesterday morning with a new Hobartian friend who is also a self-employed copywriter with strong academic roots. While I spent 9 years in Sydney studying and working in finance, she was pre-med and also took the LSAT for law school in the US.
Yet, here we both are, writing marketing copy and doing it not as a side hustle, but as our full-time jobs for full-time living.
I never realised it until our conversation but I think that until recently, I subconsciously subscribed to the “starving artist” concept – forgoing material wealth for art, passion and autonomy.
I think I believed that moving away from traditional employment signalled that I didn’t value or pursue money and wealth and that there was even “enlightenment” to that.
But I do value money – I don’t just need it; I like it and I want it. I just never really believed I could make more money in marketing than finance, nor that I could make more money being self-employed than being a salaryperson.
Until I ticked both boxes.
Looking back, one thing I wonder is that if I had sought out female role models in creative entrepreneurship, would I have intentionally strived to break through the “starving artist” barrier earlier?
After all, it’s a well-known phenomenon that once humans see a barrier broken by one person, they’ll be more likely to break it themselves too.
But I did and do have one of the best role models in self-employment and creative business. My first creative role after banking was as Gemma Peanut’s marketer in 2015. Over the last 7 years, I have watched Gemma’s photography course repeatedly sell out, her continued success as a photographer, her podcast swiftly climb the charts and her launch of new products (like a baby journal) and projects (like an AirBnb) – and all the while, being her unfiltered, beautiful and kind self.
So why did I never connect the dots that I, too, could do what I love, do my job well and do financially well?
I think it’s simply because that we, especially female business owners and creatives, don’t talk about money enough.
For me, it’s not enough to see images and visuals of women being successful in entrepreneurship – I need to have it backed up with hard data and deep meaning. I need to know how much you are charging, grossing and netting per month and saving and investing. I also need to know how you feel about the amount of money you make and whether it affords you your desired lifestyle.
Money avoidance is not just siloed to us. Money, on the whole, is still a taboo topic for many. When I was in finance, it was against company policy to divulge what your salary and bonuses were. Basically, it was forbidden to talk about money.
It’s attitudes like that that puts money on a pedestal behind closed doors and makes it a stressful, polarising topic in relationships, communities and society.
We think we’re being objective or illuminated by not speaking about money – all the while, it’s becoming more emotionally-laden and toxic.
I want to rewire this and have money disclosure and discussion viewed not only objectively but positively, when applicable. When I share that I’ve grossed mid-10,000s for 8 out of the last 12 months, I want it to be received by you as a fact (“it is what it is, with no reflection on me”) or as inspiration (“making 6-figures annually as a self-employed female creative is possible”), rather than as bragging. When I share my day rate (it’s 600 plus GST and I’ve increased it twice this year due to demand), rather than directly compare and make judgements on the quality of work and service, I want ‘fairness’ and ‘value’ to be ascertained in terms of how that rate contributes to my desired lifestyle and to my clients and target market.
I want it to be encouraged to regularly revisit your finances and your financial goals and to be ruthless in understanding what they mean to you and in achieving them. When we are setting goals, I want the question, “how much money do you want to make?” to be one of the most important and early ones asked and answered – because if you do value and want to actively pursue money and wealth, it is as much a ‘why’ as any other reason.
And when we attain the levels of money and wealth that we’re seeking, I want us to be proactive in sharing about it, with the intention to raise the tide. We need to talk about it in order to shout and spread the message that if you do want to run your own business as a female creative, you do not need to be a "starving artist” and your business can be your most lucrative work.
I usually dwell on things for longer than just over 24 hours before sharing, so I hope I did get my point across. Here’s to ending 2022 feeling fulfilled and to heading into 2023 absolutely fired up for our best year in business and life yet! Thank you for letting me take up space in your inbox.