ABSTRACT
Making money is art and working is art and good business is the best art. This chapter introduces and outlines three overarching concepts critical to every entrepreneur and their venture processes: opportunity recognition, risk and innovation. These concepts are used by artists during the creation or presentation of their art, knowingly or unknowingly. The chapter focuses on an artist’s pre-existing use of fundamental entrepreneurial concepts and connects them to an emerging arts entrepreneur’s processes. Artists frequently recognize opportunistic events. Opportunity recognition works best when directed. An arts entrepreneur can actively seek opportunity by making it a priority in their lives or passively by allowing circumstances to emerge. One of the best ways for an emerging arts entrepreneur to mitigate risk while still in college is to discover opportunities their institutions provide for student entrepreneurs.
