Problem
A client family’s adult daughter, a talented artist, was looking for a way to make a career out of her art. With no experience in building or managing a business, she turned to her team at Ballentine Partners in order to learn some of the skills she would need to be successful.
Solution
Ballentine provided her with one-on-one coaching for roughly a year, specifically focused on guiding her through the process of launching her own business. We started from the ground up, building her understanding of the following concepts:
- Defining inventory
- Determining operating costs
- Determining pricing
- Calculating margins
- Preparing a pro forma profit and loss statement
- Creating a business plan
- Securing financing
With the groundwork laid, she developed her own business concept, incorporating input from Ballentine and her other advisors, and managed the entire start-up process.
Result
Now, living on her own, she is running a successful art gallery. In a short span of time, she gained career direction and the business skills necessary to accomplish her goals. The gallery generates revenue from the sale of her art as well as from the rental of space to other artists looking to sell their work. While there are more financial skills to develop, she is building on a much-stronger foundation of experience and confidence.
Disclosure Information:
This story was written by Ballentine Partners. It is not a testimonial or endorsement. While this story is based on a real client situation, we have altered some of the details to protect confidential information. No portion of this story should be construed as a guarantee that any other person will experience a certain level of results or satisfaction if Ballentine Partners is engaged, or continues to be engaged, to provide services.
