Ep 52 | Why Artists Stay Broke: The Hidden Cost of Poor Financial Planning

Summary In this episode of Failing Forward, we explore 30 small daily habits that can turn failure into success. Success isn’t about massive overnight changes— it’s about consistent, intentional habits that shape your mindset, productivity, health, relationships, and long-term growth. By adopting these habits, you can improve your focus, resilience, and overall progress toward success.Key Moments:-Introduction-Why small habits lead to big results-Personal story about overcoming failure-Mindset & Personal Growth-Gratitude, reframing failure, affirmations, and journaling-Productivity & Discipline-Planning, time management, minimizing distractions-Health & Energy Management-Sleep, hydration, movement, and mindfulness-Relationships & Networking-The power of connections, mentorship, and adding value-Success-Oriented Habits-Tracking progress, finances, learning new skillsKey Takeaways:1. Your habits define your success. Small, daily actions compound over time.2. Mindset matters. Reframe failure as learning, and practice gratitude to stay positive.3. Plan your success. Structure your day, set priorities, and track progress.4. Energy fuels achievement. Sleep, movement, and nutrition impact focus and motivation.5. Success is a team effort. Build strong relationships and surround yourself with positive influences.6. Growth happens outside your comfort zone. Challenge yourself daily and embrace persistence.ABOUT THE PODCASTCreated by artists for artists, illustrators, creatives, and aspiring designers and art lovers.It is a weekly podcast by Ping He. As a creative entrepreneur, Ping shares her insight and tips in addition to interviewing seasoned professionals who provide practical tactics and clarity to help listeners walk away with actionable items for improving their personal and professional life.Botany Works Artist InstagramABOUT THE HOSTPing HeA mom, a botanical artist, a teacher, and mentor for creatives.www.pinghe.art Hosted on Acast. See acast.com/privacy for more information.

This episode explores the all-too-common struggle of imposter syndrome in creative work. We talk about why feeling like a fraud is actually a sign of growth, how to reframe your doubts, and how to take action even when you don’t t feel ready. By the end of this episode, you will walk away with practical steps to build confidence and fully embrace your creative path.Key Moments1. The Truth About Imposter Syndrome Why almost every creative person experiences it.  How even successful artists doubt themselves2. Reframing the Feeling Seeing imposter syndrome as a sign of growthWhy your self-doubt means you care about your craft3. Action Over Identity Don’t wait to feel like a creative, just create.Small steps build confidence. 4. Your Unique Perspective Matters No one else sees the world exactly like youWhy your voice and creativity are valuable5. Final Encouragement & Practical Takeaways Quick mindset shifts you can use dailyA simple challenge to start todayKey Takeaways (Practical & Actionable)Imposter syndrome is normal. It’s a sign you are growing.Start small and stay consistent, confidence builds over time.Your perspective is valuable, no one else can create exactly what you can.ABOUT THE PODCASTCreated by artists for artists, illustrators, creatives, and aspiring designers and art lovers.It is a weekly podcast by Ping He. As a creative entrepreneur, Ping shares her insight and tips in addition to interviewing seasoned professionals who provide practical tactics and clarity to help listeners walk away with actionable items for improving their personal and professional life.Botany Works Artist InstagramABOUT THE HOSTPing HeA mom, a botanical artist, a teacher, and mentor for creatives.www.pinghe.art Hosted on Acast. See acast.com/privacy for more information.

Today, we are talking about a strategy that can help you reach more customers, increase revenue, and create a sustainable business without devaluing your work. Whether you are an artist, maker, or creative entrepreneur, having different pricing tiers allows you to appeal to a wide range of buyers while still protecting the value of your premium offerings.If you have ever struggled with pricing your work or felt like you were missing out on potential customers, this episode is for you.I will break down how to offer products or services at different price levels without devaluing your brand. Whether you are an artist, maker, or service provider, having multiple pricing tiers allows you to reach more people, increase revenue, and create a sustainable business.SummaryIn this episode, we discuss how to structure your work into different price tier ”low, mid, and high, so you can attract a wider audience while maintaining the value of your premium offerings.We will cover:Why having different price points is essential for growthHow to create a pricing structure that works for youCommon mistakes to avoid when pricing your workReal-world examples of successful multi-tiered pricing strategiesBy the end of this episode, you will have a clear plan to introduce or refine different price points in your business.Key MomentsWhy multiple price points matter for creative businesses.The Three-Tiered Approach- Breaking down low, mid, and high price points with examples.ABOUT THE PODCASTCreated by artists for artists, illustrators, creatives, and aspiring designers and art lovers.It is a weekly podcast by Ping He. As a creative entrepreneur, Ping shares her insight and tips in addition to interviewing seasoned professionals who provide practical tactics and clarity to help listeners walk away with actionable items for improving their personal and professional life.Botany Works Artist InstagramABOUT THE HOSTPing HeA mom, a botanical artist, a teacher, and mentor for creatives.www.pinghe.art Hosted on Acast. See acast.com/privacy for more information.

Many artists struggle not because they lack talent, but because they lack a solid financial plan. In this episode, I’ll break down why financial planning is just as important as creative skills, the most common money mistakes artists make, and simple strategies to take control of your finances without feeling overwhelmed. If you have ever felt anxious about money or unsure how to make your art financially sustainable, this episode is for you.Key Moments:1. Introduction: The Money Struggle No One Talks About Story about why it often comes down to poor financial planning, not just bad luck.Acknowledging that most artists were never taught how to manage money and that’s okay because it is a skill you can learn.2. The Cost of Ignoring Financial Planning How lack of financial planning leads to inconsistent income, debt, burnout, and creative frustration.Why many artists feel trapped in feast-or-famine cycles, working intensely when money is low, then relaxing when income comes in, without a long-term plan.3. Common Money Mistakes Artists Make Not separating personal and business finances.Underpricing their work because they don’t understand their costs.Relying on inconsistent gigs without diversifying income streams.Avoiding budgeting because it feels restrictive instead of seeing it as a tool for freedom.4. Mindset Shift: Thinking Like a Creative CEO Reframing financial planning as an empowering process, not a boring chore.Understanding that financial freedom = creative freedom.The importance of treating your art like a business without losing your passion.5. Simple Financial Strategies for Artists How to create a basic budget that works with fluctuating income.The 50/30/20 rule: Allocating income for needs, wants, and savings.Building an emergency fund to avoid panic during slow periods.Why you should pay yourself a salary even as a freelancer.6. Key Takeaways & Action Steps 1. Talent isn’t enough. Without financial planning, even the most gifted artists struggle.2. A budget isn’t a prison, it’s a map. It shows you how to get where you want to go.3. Separate your personal and business finances. It is a small step that makes a huge difference.4. You are the CEO of your creative career. Start acting like it.5. Financial security = creative freedom. When money stress is gone, your creativity can thrive.Action Step:If you do one thing after this episode, let it be this:Track your income and expenses for the next 30 days. No fancy tools needed but a notebook, spreadsheet, or even an app will do. Just start noticing where your money is going.ABOUT THE PODCASTCreated by artists for artists, illustrators, creatives, and aspiring designers and art lovers.It is a weekly podcast by Ping He. As a creative entrepreneur, Ping shares her insight and tips in addition to interviewing seasoned professionals who provide practical tactics and clarity to help listeners walk away with actionable items for improving their personal and professional life.Botany Works Artist InstagramABOUT THE HOSTPing HeA mom, a botanical artist, a teacher, and mentor for creatives.www.pinghe.art Hosted on Acast. See acast.com/privacy for more information.

In this episode, we tackle one of the most pervasive myths in the creative world- the “starving artist”mentality. We will uncover why talent alone isn’t enough, the three biggest myths keeping artists financially stuck, and how you can transform your mindset to a thriving creative entrepreneur.Whether you are an artist, designer, or any type of creative, this episode will inspire you to start thinking differently about your career and take control of your financial future.Key Moments:1. Introduction Why the “starving artist” myth exists and how it holds many artists back.Introducing the idea that talent alone isn’t enough to succeed.2. Why Talent Alone Isn’t Enough The difference between struggling artists and successful ones: isn’t not about talent, but how you position and promote your work.The need for visibility and business skills to build a sustainable creative career.3. The Three Myths Keeping Artists Broke Myth #1: My art is good enough, it will sell itself. Myth #2: I don’t want to sell out.Myth #3: I am not good at business.Why each of these beliefs is holding you back from financial success.4. Shifting from Starving Artist to Creative Entrepreneur Why embracing the role of a creative entrepreneur is key to long-term success.The importance of branding, marketing, and telling your story to connect with your audience.5. Real-World Case Study The story of Ping, an artist who went from struggling to selling out collections by changing her mindset and embracing marketing.The steps Ping took to position her work and gain visibility in the art world.6. Key Takeaways & Action Steps A summary of the top lessons from the episode.A challenge to the listeners: Post one piece of your work online and share the story behind it.Key Takeaways:1. Talent alone isn’t t enough. You need visibility and business skills to succeed.2. Marketing doesn’t t mean selling out. It is about making sure the right people see and appreciate your work.3. Your art is a brand. People buy stories, emotions, and experiences, not just the product.4. Business is a learnable skill. You can develop it just like you developed your art.5. Success is not about luck, but about positioning yourself, telling your story, and engaging with your audience.ABOUT THE PODCASTCreated by artists for artists, illustrators, creatives, and aspiring designers and art lovers.It is a weekly podcast by Ping He. As a creative entrepreneur, Ping shares her insight and tips in addition to interviewing seasoned professionals who provide practical tactics and clarity to help listeners walk away with actionable items for improving their personal and professional life.Botany Works Artist InstagramABOUT THE HOSTPing HeA mom, a botanical artist, a teacher, and mentor for creatives.www.pinghe.art Hosted on Acast. See acast.com/privacy for more information.

Collaborations can be exciting opportunities for artists, but they often raise questions about pricing and ownership. Should you sell your artwork outright or license it? What is the difference, and how do you protect your rights? In this episode, I will break down the key concepts of pricing, selling, and licensing your art. Learn how to negotiate fair compensation, retain control of your creative work, and navigate collaborations with confidence whether it is for cards, clothing. We will explore the differences between selling artwork outright and licensing your designs, how to navigate pricing, and how to protect yourself with contracts.This episode equips you with the knowledge to value and protect your creations.Key Moments:1. Intro:The importance of understanding your rights as an artist when collaborating or selling work. Common misconceptions about copyright and ownership.2.  Selling Original Artwork:Explaining the difference between selling a physical piece and transferring copyright. Why selling an original doesn’t mean losing reproduction rights. When and how to transfer copyright if necessary and for the right price.3.  Licensing Your Artwork:How licensing works: granting usage rights while retaining ownership. Negotiating terms for royalties, usage scope, and exclusivity. Real-world examples: licensing for cards, clothing, and other merchandise.4.  Negotiating Fair Pricing: How to price artwork for outright sales vs. licensing agreements. Ensuring compensation reflects the value of your time, creativity, and rights. The importance of contracts in protecting your work.5. Key Tips for Protecting Your Rights:How to establish clear boundaries with buyers and collaborators. Common pitfalls to avoid when selling or licensing your work. Tools to safeguard your intellectual property (e.g., copyright registration).Key Takeaways:1. Selling vs. Licensing: Selling your original artwork doesn’t mean giving up reproduction rights, you still own the copyright unless you transfer it explicitly. Licensing allows you to earn ongoing income while retaining ownership.2. Contracts Are Essential: Always have a written agreement outlining how your work can be used, whether for outright sales or licensing.3. Fair Pricing: When transferring copyright or licensing your work, charge appropriately for the value of your creation and its potential commercial use.4. Protect Your Rights: Understand the difference between physical ownership and copyright. Your creative work is your intellectual property, treat it as such.5. Collaborations Are Partnerships: Clearly define roles, expectations, and compensation with collaborators to avoid misunderstandings and ensure fair treatment.ABOUT THE PODCASTCreated by artists for artists, illustrators, creatives, and aspiring designers and art lovers.It is a weekly podcast by Ping He. As a creative entrepreneur, Ping shares her insight and tips in addition to interviewing seasoned professionals who provide practical tactics and clarity to help listeners walk away with actionable items for improving their personal and professional life.Botany Works Artist InstagramABOUT THE HOSTPing HeA mom, a botanical artist, a teacher, and mentor for creatives.www.pinghe.art Hosted on Acast. See acast.com/privacy for more information.

Today, we’re diving into a topic that’s close to my heart: setting and achieving meaningful goals as an artist. Goals give us direction and purpose, but they can also feel overwhelming or elusive at times. How do we find clarity in what we want to achieve? How do we stay motivated, especially when things don’t go as planned? And most importantly, how can we ensure that our goals align with our personal values and artistic vision?We’ll be breaking it down step by step, covering spiritual goals, emotional resilience, building relationships, career growth, and more. Whether you’re looking to deepen your connection with your art, overcome creative blocks, or take your career to the next level, this episode has something for you. So grab a cup of coffee, get comfortable, and let’s embark on this journey together.Key Moments:1.Introduction •Ping introduces herself and shares the purpose of the podcast: to guide artists through personal and professional growth.•Overview of today’s topic: setting and achieving meaningful goals as an artist.2.Spiritual Goals •Ping discusses the importance of finding inspiration through spiritual practices.•Shares personal experiences on how mindfulness and meditation have influenced her creativity.•Tips for integrating spirituality into daily art practice.3.Emotional Resilience •The role of emotional health in an artist’s journey.•Ping shares techniques she uses to overcome creative blocks and self-doubt.•Encourages listeners to use their art as an emotional outlet.4.Building Relationships •Ping talks about the importance of building a supportive community.•Shares personal stories of collaborations and how relationships have helped her career.•Tips on balancing personal and professional relationships as an artist.5.Career and Business Growth •Practical advice on setting career goals, from developing a portfolio to marketing artwork.•Ping discusses her journey in monetizing her art and creating a sustainable business.•Actionable steps for artists to take their careers to the next level.6.Health and Wellness •Ping emphasizes the importance of maintaining physical and mental health for creativity.•Shares her personal wellness routine and how it supports her art practice.•Encourages listeners to prioritize self-care and prevent burnout.Due to limited space for text the full text cannot be shared here, please read the full text here (Google Docs).ABOUT THE PODCASTCreated by artists for artists, illustrators, creatives, and aspiring designers and art lovers.It is a weekly podcast by Ping He. As a creative entrepreneur, Ping shares her insight and tips in addition to interviewing seasoned professionals who provide practical tactics and clarity to help listeners walk away with actionable items for improving their personal and professional life.Botany Works Artist InstagramABOUT THE HOSTPing HeA mom, a botanical artist, a teacher, and mentor for creatives.www.pinghe.art Hosted on Acast. See acast.com/privacy for more information.

In this podcast, we delve into the crucial role that a cover letter plays in submitting your children’s book manuscript to agents or publishers. A cover letter is often the first thing an agent or publisher will read, and it can determine whether your manuscript gets noticed. We cover everything from why a strong cover letter is important, to the key elements you should include, and the best practices for personalization, tone, and professionalism.Key Moments:1.Introduction to the Importance of a Cover Letter:•We explore why a well-crafted cover letter is essential for making a great first impression and standing out among the many submissions an agent or publisher receives.2.Session 1: Understanding the Purpose of a Cover Letter:•We break down how a cover letter serves as an introduction, setting the tone for your manuscript and showcasing your professionalism and enthusiasm.3.Session 2: Research and Personalization:•Emphasizing the importance of researching your target agents or publishers and tailoring your cover letter to show why your manuscript is a perfect fit for them.4.Session 3: Key Components of a Cover Letter:•A detailed look at the critical components of a cover letter: greeting, introduction, manuscript details, your background, closing, and sign-off.5.Session 4: Do’s and Don’ts:•We outline the key do’s—such as keeping it concise, following submission guidelines, and proofreading—and the don’ts, such as avoiding generic letters, irrelevant information, and overly casual tones.Key Takeaways:1.Make a Strong First Impression:•Your cover letter is often your first point of contact with an agent or publisher, so it’s important to be professional, concise, and personalized. A strong first impression can make them want to read your manuscript.2.Personalization is Key:•Research the agent or publisher and tailor your cover letter specifically to them. Mention why you think your manuscript aligns with their interests or previous works they’ve represented.3.Stay Focused and Concise:•Keep your cover letter to one page, focusing on essential information like the manuscript’s title, genre, target age group, word count, and a brief synopsis. Avoid unnecessary details or long paragraphs.4.Follow Submission Guidelines:•Adhere to the agent’s or publisher’s submission instructions. Failure to follow guidelines can lead to your submission being ignored.5.Avoid Common Mistakes:•Don’t send a generic cover letter or overhype your manuscript. Avoid including irrelevant personal information or using an overly casual tone. Proofread carefully to ensure your letter is professional and error-free.6.Your Background Matters:•Mention relevant writing experience or any unique qualifications that help build credibility, but keep it brief and relevant to your manuscript.ABOUT THE PODCASTAs a creative entrepreneur, Ping shares her insight and tips in addition to interviewing seasoned professionals who provide practical tactics and clarity to help listeners walk away with actionable items for improving their personal and professional life.Botany Works Artist InstagramABOUT THE HOSTPing Hewww.pinghe.artwww.instagram.com/pinghe.art Hosted on Acast. See acast.com/privacy for more information.

In this episode, we dive into the essential steps for illustrators looking to break into the children’s book industry. We discuss the importance of crafting a standout art portfolio, tailoring submissions, and navigating the submission process to publishers or agents. Key Moments:1.Introduction•Brief overview of the episode’s focus on breaking into the children’s book industry through effective portfolio submissions.2. Understanding the Industry•Explanation of the children’s book industry and its demand for illustrators.•The role of illustrators in bringing stories to life and why a strong portfolio is crucial.3.Crafting a Strong Portfolio•Tips on selecting your best work: relevance, quality, and diversity.•Importance of including a mix of character design, sequential art, and varied themes.4.Tailoring Your Portfolio•How to research publishers and tailor your portfolio to fit their style and preferences.•Discussing the importance of adhering to submission guidelines.5.Sequential Storytelling and Character Consistency•Highlighting the need for sequential illustrations to demonstrate storytelling ability.•Tips on showing consistency in character design and development across different scenes.6.Presentation and Format•Advice on organizing and presenting your portfolio, both digitally and in physical format.•Importance of high-quality images, user-friendly layouts, and easy navigation for digital portfolios.7.Writing a Compelling Cover Letter•Tips on personalizing your cover letter to each submission.•Key elements to include: your passion for children’s books, understanding of the publisher’s needs, and a brief introduction to your style.8. The Resume and Online Presence•Discussing the importance of a concise, relevant resume.•How to leverage your online portfolio and social media to showcase your work and attract potential clients.9. Final Tips and Takeaways•Recap of the key strategies discussed: focusing on relevant work, tailoring submissions, and presenting a professional portfolio.•Encouragement to persevere, seek feedback, and continuously improve your craft.10. Conclusion•Summary of the episode’s main points.•Encouragement to listeners to take the next steps in their journey toward becoming a children’s book illustrator.This episode provides practical advice and inspiration for anyone looking to enter the children’s book industry, emphasizing the power of a well-crafted portfolio in making a lasting impression.ABOUT THE PODCASTCreated by artists for artists, illustrators, creatives, and aspiring designers and art lovers.It is a weekly podcast by Ping He. As a creative entrepreneur, Ping shares her insight and tips in addition to interviewing seasoned professionals who provide practical tactics and clarity to help listeners walk away with actionable items for improving their personal and professional life.Botany Works Artist InstagramABOUT THE HOSTPing HeA mom, a botanical artist, a teacher, and mentor for creatives.www.pinghe.artwww.instagram.com/pinghe.art Hosted on Acast. See acast.com/privacy for more information.

The Botany Works Artist podcast team and I are taking a winter break! We will be back with a new podcast episode on Monday, 6 January and we have some incredible things to share!! While we're gone, be sure to dip back into the archives. We have over 45 incredible episodes to help you to shape your creative business. Have a great week and I will see you on 6 January, 2025!ABOUT THE PODCASTCreated by artists for artists, illustrators, creatives, and aspiring designers and art lovers.It is a weekly podcast by Ping He. As a creative entrepreneur, Ping shares her insight and tips in addition to interviewing seasoned professionals who provide practical tactics and clarity to help listeners walk away with actionable items for improving their personal and professional life.Botany Works Artist InstagramABOUT THE HOSTPing HeA mom, a botanical artist, a teacher, and mentor for creatives.www.pinghe.artwww.instagram.com/pinghe.art Hosted on Acast. See acast.com/privacy for more information.