Interview with Morgan Samuel Price:
1) Tell me a little bit about how you started.
After moving to a small southwest town in Oklahoma, I immediately wanted to set up a part time job for myself. At first, I was content to rent space at an art center in the small town. For several years I taught at the art center and developed a following. This humble beginning opened my eyes to the possibility of evolving into a small business with ongoing classes and studio space to develop my paintings.
2) Can you give me some examples to illustrate the challenge you faced in starting your company, MSP?
Challenge #1. I had almost no working capital to develop my business idea.
Challenge #2. I had to figure out a way to keep my cash flow continuous.
Challenge #3. I needed the time to forge bonds with the community and maintain a home life for my young children while I grew this business.
3) How have the experiences that you have had during your entire career influenced the way you now run your company?
Through on the job experience, I realized focusing on getting the word out and keeping your clients pleased with your efforts, kept the cash flow a reality. The plan developed through figuring out the needs. I also realized you had to keep the money in the business or have there will be no business to grow.
4) How do you keep up with best practices in your industry?
Communication with my fellow artists keeps me informed on the local level and the state level. My out-of-state artist friends share opportunities, as I have shared with them. I constantly watch what the competition is painting.
5) Could you describe a typical day?
Each morning, I check the email and cell messages. I answer the inquiries. Pack and ship orders from purchased products from the website. Check on the banking activity. If there is a painting on the easel, I try to paint for four to five hours. In the evening, I check the mail, complete correspondences and prepare to pack and ship if there are any more orders from the website. This is the typical day at the studio. When I am on the road, the routine changes to teaching which begins at 8:30am and concludes at 5:30pm.
6) What advice would you give to someone who was considering a career as an artist?
Assess your abilities. An art career requires many facets to survive in this fast paced world. Build a business plan for short and long term. Set reasonable goals at different increments: 1 week, 1 month, 6 months, 1 year, 5 year and 10 year. Build your bridges and maintain them in the community.
7) How do you keep up with current events in your industry and as a business person in general?
I consistently read the latest news in the art world, research what artists are coming on board and what they are painting on the internet. I check out their websites for new ideas.
8) What kind of formal education and additional specialized training would you recommend that a person should acquire to enter into your profession?
Education is a must in today’s art world. Find a professional artist/mentor and study with that person. Study how business works. Trust your instincts. Observe. Be daring. Be disciplined.
