How can I structure my business model?

I focussed since the beginning of this year on a startup with lower budget and only used my sales skills, which I used, in the past, as a selling paintings only on eBay. Mostly paintings after well known artists and limited edition prints.

Since I have this know-how and know how to change the title and description, I had to cooperate with someone in this field, but I only sell on chairish & VINTERIOUR where they only sell Furniture mostly. And of course eBay as well.


To make it short, I really don't know if I also have to go on "ETSY, Plazzart and selency where I would only be able to make profits like 25-80$" because on the Furniture sites, I make 100 - 400 $ in profit.

Is it a good strategy to say NO to these kinds of sites? Accounts get banned, not much professionality and customers looking for cheaper solutions there.

The GREATEST hurdle in this is "Traffic". The overall advantage with eBay, Etsy, intondo, artsy and 1stdibs etc is you dont have to worry about that... its already there ..



Should I try ? Should I refer the other sites to get more businesses from, which I really want to?


The GREATEST hurdle in this is "Traffic". The overall advantage with eBay, Etsy, artbrokerage, intondo, artsy and 1stdibs etc. is you don't have to worry about that... it's already there …

and the next level is what? I am looking for online Primary Market Galleries, but where can I find them?


Put together a premier in appearance online presence with unified outlets across all of the platforms



Thank you in advance for the answer and thoughts..

 

Let me be more specific: you sell "paintings by famous artists and limited edition prints", you don't know the field so you work with someone to help you create titles and descriptions, you sell on eBay and some furniture site and ask if it's worth selling on Etsy and elsewhere (because they got a lot of traffic). Is that right?

Firstly, "paintings by famous artists" sounds to me like canvases by Van Gough, Dali, Picasso, Monet, etc. These are antiques, rare, held by museums and wealthy private art collectors. If someone wants to sell them, it happens through art/antique auctions or galleries (as here in the UK through Christie's, Mayfair Gallery, Lorfords Antiques and similar). I can't imagine looking for such luxury items on eBay, Etsy, and especially not on some furniture site.

The second issue - how do you source them? Do you buy through auctions and try to "flip" at a profit? Do you have a certificate of authenticity to prove they are genuine?

The third thing - while sites like eBay and Etsy have a lot of traffic, it's unevenly divided between different categories, and when it comes to paintings, the demand for them is pretty dead.

Bottom line - I think you should focus on building your knowledge in the field to find out where and how your potential customers are buying these items. This is not something you can put in popular marketplaces just because they are popular and have traffic.

 

Good day! Starting with the core elements and interactions can help you build a business model that creates value and income. The following actions can be helpful:

• Determine your target audience's needs first.
• Next, consider how your company may offer a distinctive solution to its challenges.
• Choose your money sources, such as a one-time charge, a subscription, or advertising, next.
• Determine the essential resources you'll require, such as material, intangible, and human resources.
• Establish essential company functions, such as product development, marketing, and customer service.
• Determine the external partners, such as distributors and suppliers, with whom you must collaborate.
• Establish your cost structure, taking both fixed and variable expenses into account.
• Finally, match your relationships, actions, and resources to add value and earn money.

Additionally, be sure you collaborate with a reputable web development firm that offers software solutions, particularly MVPs. I heartily endorse a company that offers thorough consulting services, which can assess your idea and assist you in developing a market that is completely operational. Whether you want to expand your current business or build a successful startup, this will be very beneficial. Good fortune!

 

1. Identify your target market.
2. Define the problem you will solve.
3. Detail your unique selling proposition (USP)
4. Create a pricing strategy.
5. Develop a marketing approach.
6. Establish operational practices.
7. Capture path to profitability.
8. Anticipate challenges.
9. Validate your business model.
   
10. Update to reflect learnings.

 

Structuring a business model can be a complex process, but there are some key steps that can help you develop a strong and effective model. Here are some tips to consider:

1. Define your value proposition: Start by identifying what unique value your business will offer to customers. This should be the foundation of your business model.
   
   
2. Identify your target market: Determine who your ideal customer is and understand their needs, behaviors, and preferences. This will help you tailor your product or service to their needs.
   
   
3. Choose a revenue model: Decide how your business will generate revenue. Will you sell products, offer services, charge a subscription fee, or use advertising?
   
   
4. Determine your cost structure: Understand the costs involved in running your business, including overhead, employee salaries, and product development costs. This will help you set prices and determine profitability.
   
   
5. Define your distribution channels: Determine how you will get your product or service in front of customers. This could include online sales, brick-and-mortar stores, or partnerships with other businesses.
   
   
6. Build a team: Assemble a team with the skills and expertise needed to execute your business model successfully.
   
   
7. Monitor and adapt: Continuously monitor your business model and adjust as needed based on customer feedback, market changes, and industry trends.
   

 

It sounds like you have already found success with your startup by focusing on selling paintings on chairish and VINTERIOUR, and on eBay. It's great that you are using your sales skills to drive your business forward.

As for whether you should expand to other sites such as Etsy, Plazzart, and Selency, it ultimately depends on whether you think it's worth the effort and time. While these sites may offer lower profits, they can still provide additional exposure and potential sales. However, if you feel that the sites are not professional or do not align with your brand, it may be best to stick with the sites where you are already successful. techinbox

In terms of finding online primary market galleries, you could try searching for them on Google or using art-specific search engines such as Artsy or Artnet. You could also reach out to other artists or art dealers in your network for recommendations or referrals.

To improve your online presence, it's important to have a consistent brand across all platforms. This includes having a unified aesthetic and messaging, as well as engaging with customers and responding to inquiries in a timely manner. Additionally, investing in advertising and social media marketing can help drive more traffic to your site and increase sales.

 

Have someone create a website for you and learn how to generate traffic. If your paintings sell for $300 or more, then finding customers via paid advertising should be no problem. You could advertise on sites in your niche across the web that has your target market. I would start with Google Ads and Facebook Ads to find your ideal prospects there.

 

I agree with the above, an optimized website and some paid marketing could be a way to go.

 

Building a busy affiliate network is another thing to consider, though you won't net the whole profit that way, you'll gain much more exposure for sure

 

Determine the specific audience or customer segment you want to target with your paintings. Consider factors such as demographics, preferences, and art collectors' interests, identify what sets your paintings apart and why customers would choose to buy from you. It could be unique artistic style, subject matter, quality, or any other distinctive features that make your paintings valuable, Determine the pricing of your paintings based on factors such as materials, size, complexity, and your experience as an artist. Research the market to understand the price range for similar artworks and ensure your pricing is competitive yet reflective of the value you offer, Decide how you will sell your paintings. Options include setting up your own online store, selling through art galleries, participating in art exhibitions and fairs, or leveraging online marketplaces dedicated to artwork. Choose channels that align with your target market and maximize your reach, develop a comprehensive marketing strategy to promote your paintings. Utilize both online and offline channels such as social media platforms, art forums, art publications, and collaborations with influencers or art bloggers. Showcase your paintings through high-quality images and engaging descriptions to captivate potential buyers, regularly evaluate your business model and adapt to changing market trends. Stay updated on emerging artists, art styles, and industry developments. Seek feedback from customers to improve your offerings and consider expanding your product range based on demand, Focus on building relationships with your customers and art enthusiasts. Engage with your audience through social media interactions, newsletters, and personalized communication. Offer exceptional customer service and maintain contact with previous buyers to foster loyalty and encourage repeat purchases. Remember, the art industry can be subjective and competitive, so it's crucial to consistently refine your artistic skills, stay true to your unique style, and constantly innovate to differentiate yourself in the market.

 

Structuring a business model involves outlining how your company will create, deliver, and capture value. Here's a general framework to help you structure your business model:

1. Value Proposition:
   
   • Clearly define the product or service you're offering.
   • Highlight the unique value it brings to customers.
   • Identify the problem it solves or the need it fulfills.
2. Customer Segments:
   
   • Identify and define your target customer groups.
   • Understand the needs and characteristics of each segment.
   • Tailor your value proposition to meet specific customer segment needs.
3. Channels:
   
   • Define the distribution channels through which you'll reach your customers.
   • Consider online and offline channels, partnerships, and strategic alliances.
   • Ensure the channels align with your customer segments.
4. Customer Relationships:
   
   • Outline how you'll build and maintain relationships with customers.
   • Consider customer support, feedback mechanisms, and community engagement.
   • Identify the type of relationship that fits your business (e.g., personal assistance, self-service, automated services).
5. Revenue Streams:
   
   • Clearly define how your business will generate revenue.
   • Explore various monetization strategies (e.g., sales, subscriptions, licensing, advertising).
   • Consider different pricing models based on customer segments.
6. Key Resources:
   
   • Identify the critical assets and resources your business requires.
   • This includes physical, intellectual, human, and financial resources.
   • Consider partnerships and outsourcing where applicable.
7. Key Activities:
   
   • List the crucial activities required to deliver your value proposition.
   • This includes production, marketing, sales, and customer support.
   • Focus on activities that directly contribute to your competitive advantage.
8. Key Partnerships:
   
   • Identify external organizations or entities that can help your business.
   • Consider suppliers, strategic alliances, and partnerships that enhance your capabilities.
   • Determine the key activities performed by each partner.
9. Cost Structure:
   
   • Outline all costs associated with operating your business.
   • Differentiate between fixed and variable costs.
   • Consider economies of scale and cost-saving measures.
10. Metrics and Key Performance Indicators (KPIs):
    
    • Define metrics that will help you measure the success of your business model.
    • This may include customer acquisition cost, customer lifetime value, conversion rates, etc.
    • Regularly monitor and adjust your strategy based on these metrics.

Remember that your business model should be flexible and able to adapt to changing market conditions. Regularly revisit and refine your model as your business evolves.

 

Possible Improvements:

Expand to Dedicated Art Platforms: Consider Etsy, Plazzart, Selency despite lower profit margins. These platforms cater to art buyers and could significantly increase traffic.
Maintain Profitability: Adjust pricing strategies on broader platforms to maintain profitability. You can offer a curated selection of high-quality prints at a premium on these platforms, alongside some lower-priced options.
Traffic Generation: Leverage existing platforms with high traffic (eBay) to drive customers to your own website (if you have one).
Online Presence: Develop a unified online presence across all platforms. Maintain consistent branding, high-quality product descriptions, and clear contact information.