How to Do a Creative Business Audit (and Why Every Artist Should)
Podcast Episode: Art & Cocktails
How to Do a Creative Business Audit (and Why Every Artist Should)
By Ekaterina Popova
Running a creative business can feel like a dream—and a juggling act. Between making the work, marketing, shipping, writing, teaching, and maintaining a presence online, it’s easy to lose sight of why you started in the first place.
If you’re feeling overwhelmed, stuck in the weeds, or simply unsure where your energy is best spent, it might be time for a creative business audit.
This process is designed to help you pause, reassess, and realign. It’s not about working harder—it’s about working smarter, reclaiming your time, and focusing on what truly supports your art and your life.
What Is a Creative Business Audit?
A creative business audit is a simple yet powerful review of how you’re spending your time, money, and energy in your business. It helps you identify what’s working, what’s draining you, and what needs to change in order for you to grow—without burning out.
Step 1: Audit Your Finances
Start by reviewing your income and expenses from the last 3–6 months. This gives you a clear picture of your profit—not just your revenue.
Key questions to ask:
Which of your offers are actually profitable?
Are there hidden expenses eating away at your income?
What can you cut or renegotiate?
What’s worth investing more into?
Optional Tip: Upload your bank statements to an AI tool (like ChatGPT) and ask for a breakdown of spending and income categories to identify patterns you might miss on your own.
Recommended resource: Profit First by Mike Michalowicz
Step 2: Track Your Energy
Finances tell one part of the story. Energy tells the rest.
Make a list of everything you do in your business: client work, admin, shipping, content creation, painting, teaching, etc. Then, rate each activity as energizing or draining.
This step helps you:
Double down on work that feels aligned
Delegate or automate draining tasks
Press pause on things that are no longer serving you
Recommended read: Chillpreneur by Denise Duffield-Thomas
Step 3: Reclaim Your Time
Use a time-tracking tool like Toggl or Clockify to monitor how you actually spend your workday. Do this for one week.
Ask yourself:
Am I stuck in reactive mode?
Am I spending more time on admin than on creation?
Am I making time for visioning and long-term planning?
This step reveals the gap between where your time goes vs. where you want it to go.
Step 4: Decide What to Save or Outsource
Sometimes we try to save money by doing everything ourselves—but at the cost of our energy and growth.
Ask yourself:
What am I holding onto that someone else could do better or faster?
Where would outsourcing give me back time and clarity?
What am I ready to invest in to support the next phase of my business?
Hiring a virtual assistant, editor, or part-time studio helper might be the breakthrough you need—not an expense, but a strategic decision.
Final Thoughts
Doing a creative business audit can be clarifying and even emotional. It invites you to release what no longer fits and make space for what does.
This is the kind of work that sets the foundation for sustainable success—not just financially, but creatively and emotionally too.
Explore More
If you’re ready to take action on what you uncover during your audit:
Visit Create U
Explore our library of instant-access micro-courses for artists. Topics include:
Selling art directly
Getting press coverage
Finding your first gallery
Building a sustainable creative business
Submit to Create! Magazine
Our Fall 2025 issue, curated by Emily McElwreath, is now accepting submissions. This is an opportunity to be featured in print and digital and gain visibility within a global art community.
Stay Connected
For more resources, updates, and personal insights, follow along at @createmagazine and @katerinaspopova.