At Third Road Management, we have had the privilege of collaborating with many businesses and nonprofits spanning diverse industries, ownership structures, tenures and financial statuses. Through our journey, we have gathered insights that we believe can benefit business leaders beyond our current clientele. Today, we aim to shed light on the beneficial leveraging of some right-brained quantitative and analytic thinking in a left-brained, creative business context. There are also incredible benefits of the opposite case, bringing creative thinking to a right-brained business context, which we will explore in a future blog post.
First and foremost, let’s clarify our audience. This blog is intended for creative business owners who, alongside the joy of expressing their creative gifts, seek to derive meaningful profits from their endeavors. While many creative pursuits prioritize other motivations over financial gain, which is admirable and appreciated, we are operating under the assumption that our audience places significant value on the financial aspect of their work.
For all of you gifted creative entrepreneurs striving to thrive in the business world, here are a few compelling reasons to embrace input from your numbers-minded colleagues and advisors:
- Profitability Matters: It may sound harsh, but the truth is that: unless you can generate a reasonable profit from operating your business, it is more of a hobby than a business. Collaborating with mathematically inclined individuals can steer you towards achieving your financial objectives.
- Relieving Pressure: Meeting financial goals alleviates the burden of trying to keep your business afloat, freeing up mental space and energy for creative pursuits. When you are not constantly worrying about finances, you can channel your focus and passion into what you love doing most.
- Humble Collaboration: Inviting right-brained thinkers into your business ecosystem is a humble, yet strategic move. Embracing their expertise can unlock untapped potential, allowing your business, and your art, to flourish beyond imaginable horizons. Resisting this collaboration could inadvertently limit your business’s growth and your art’s reach, depriving both you and your team of fulfilling possibilities.
It is crucial to acknowledge that the integration of right-brained analytics and left-brained creativity is not always seamless. We have encountered numerous accounts of creatives feeling marginalized or condescended to by traditionally analytical professionals such as tax accountants, finance advisors, and management consultants. Such behavior is unacceptable and counterproductive.
Embracing the symbiosis of creative vision and analytical rigor can propel your business to new heights. By fostering a collaborative environment where diverse perspectives thrive, you pave the way for innovation and sustainable growth. Stay tuned for future insights on navigating the dynamic interplay between creativity and business acumen.
Remember, your creativity is your greatest asset, and with the right strategic approach, it can fuel both artistic fulfillment and financial success.