The Savvy Creative’s Financial Playbook

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Smart creatives know that financial stability fuels artistic freedom. Here’s your no-nonsense guide to building an unshakeable business.

Master Your Numbers

Ditch the “I’m bad with numbers” excuse. You know that your creativity thrives when your finances are solid. Who can make magic when they’re worried about paying the mortgage, or corporation tax? There are apps for everything now, speak to your accountant for some advice.  We love Xero here at Artisan Accounts. 

While you’re at it, schedule monthly financial reviews and make sure you are held accountable to follow through on actions for achieving your financial goals.

Build Your War Chest

Set a target of maintaining 3-6 months of operating expenses in savings. 

Automate transfers to a high-yield account at the start of the month. Automate it, don’t rely on yourself to do this manually… you know you probably won’t. 

Treat unexpected income as reinforcements for your financial fortress rather than splurging. Ok, maybe a little bit of a splurge but only if you’ve got a buffer.

Diversify Like a Pro

This one takes some mindset work.  Instead of working hand to mouth, project to project, try to step back and see the bigger picture. Ask yourself if (perhaps with some front loading) you could:

  • Transform your skills into passive income through digital products and templates
  • Package services strategically – turn one-off projects into comprehensive solutions
  • Penetrate adjacent markets where your expertise commands premium rates
  • Monetise your knowledge through teaching and consulting

Armour Up

Life happens, stuff happens, mistakes happen – so make sure your insurance covers what you need it to.  Look at:

  • Professional liability for work-related claims
  • General liability for physical mishaps
  • Cyber protection for digital disasters – plus have you got a Disaster Recovery Plan (DRP)?
  • Business interruption coverage for unexpected shutdowns

Play the Tax Game Smart

You’re good at what you do right?  If you were great at tax, SEIS, R&D applications, bookkeeping you’d have gone into that game.  So partner up with an accountant or VFD who gets creative businesses. That way you’re all playing to your talents.

Make the HMRC work for you, not against you. Think about R&D credits, SEIS, EIS, Creative Tax Reliefs, or speak to someone who knows about them.

At the very least, track everything religiously – incomings, outgoings, expenses, project costs, overheads.

Turn Clients Into Advocates

Many people look for a recommendation or check testimonials when they are looking for services so make sure your current clients are well looked after.

  • Deliver excellence consistently
  • Communicate with transparency
  • Build genuine connections
  • Reward loyalty strategically

 

Stay Sharp

Everything, everywhere, changes all the time.  

So make sure you keep at the forefront of your industry. Invest in your edge through online courses, industry events, and mentorship. The creative landscape evolves – evolve faster.

  • Take an online course. Platforms like Skillshare, Udemy, and CreativeLive offer a wealth of courses on creative and business topics.
  • Attend industry events, workshops or conferences to learn from experts, network with peers, and stay up-to-date on the latest trends.
  • Consider coaching to see the woods and hold you to account.  Find a mentor or coach who can provide guidance, support, and valuable insights into building your business.

Quarterly Reality Check.

If you think there are some good ideas in here and you’d like to apply them to your business.  Don’t stop there, keep coming back to make sure you’re staying on track, making progress or pivoting when things change.

Ask yourself:

  • Is my income diversified and stable?
  • Are my savings growing?
  • Are expenses optimised?
  • Is my insurance comprehensive?
  • Am I maximising tax advantages?

Remember: This isn’t about playing it safe. It’s about building the foundation that lets you take bigger creative risks. Your financial fortress doesn’t constrain your creativity – it amplifies it.