Basic Business Acumen

Posted by Lisa-Marie Sanders

I should’ve known better. Nonetheless, after 25 years of business and entrepreneurial experience, I violated a fundamental principle of agreements: get it in writing. When a quilt shop owner invited me to promote my book (http://www.quiltingwithaliens.com/) as the featured item in her booth for AQS Knoxville Expo, I was so excited I allowed my emotions to override reason. Over the three week planning horizon, the agreement changed so many times it ultimately became untenable. I’m saddened by the lost opportunity, but I am hoping that you can learn from my mistake and avoid similar pain in the future.

Three basic tenets to remember when selling your art or entering into any agreement:
1. Define your goals in advance (what you hope to achieve, what you will provide, what you require as consideration/compensation, etc.)
2. Clarify expectations (mutual responsibilities, time lines, communication)
3. Get it in writing

I find that I learn (and remember) the most from difficult circumstances and, for that reason, I am thankful for this situation. I hope you can also benefit from this lesson learned.