ABSTRACT
This chapter describes suggestions intended to contextualize basic New Venture Creation concepts when starting a small arts business directly upon graduation. It introduces the importance of value, addresses fundamental economic topics important to all arts ventures, and introduces simple revenue and expense projections for both for- and non-profit ventures. For many reasons, an accountant should be the first professional an emerging arts entrepreneur secures before launching a venture. The next entity on a business team should be a business consultant. Next, choosing a lawyer for the business should be taken as seriously as choosing an accountant and for similar reasons. When it comes to long-term venture sustainability, perhaps the most important business team member is the one who responds to marketing needs. For non-profit arts ventures, the team would be similar, although the structure of a non-profit requires a set of legally required members: a board of directors.
