STEP 1: Reflect on and state the desired experience you want to create through your art.
Consider what you want people to feel or think and how you want them to engage with your art.
NOTE: This is not about the medium you will use or what form your art will take.
STEP 2: Identify the audience for your art.
Think about who would be attracted or drawn to your art and the experience you create. Consider the demographics (age, gender, income level etc.) but also mindset, attitudes, interests and other characteristics.
NOTE: No one's art is for everyone, even mass market stuff,
so get specific about your ideal audience.
STEP 3: Based on the characteristics of your audience, where would you find those people, how will you reach them and how will you interact with them?
Consider on- and offline, automated vs personal relationships, specific channels you would use e.g. social media networks, groups they are part of etc.
STEP 4: Now determine how your art will manifest, the actual form it will take, the media you will use to create the experience you described for the audience you identified.
Go crazy now! Consider the skills you have, the ones you have wanted to learn, the resources already available to you etc.
NOTE: Don't assume that this has only one answer. You can get creative with how you create the experience.
STEP 5: Figure out all the key activities you will need to do in order to bring your art into the world and get it to your audience.
Consider all the steps not just creation. Start from the ideas, through the art-making process, to any packaging, promotion, distribution, selling etc. to get to the audience.
NOTE: Pay attention to the critical steps, even if you would not be doing them yourself.
STEP 6: Now list the resources you will need to make it happen.
Be sure to include financial, physical, and intellectual assets and resources.
NOTE: Pay attention to the key or critical activities. If an activity is essential then the resources you need to complete it are also essential.
STEP 7: Think about who you will work with to bring your art into the world and to your audience.
Consider key partners and suppliers especially if they would be providers of key resources identified in the last step. Anyone who performs key activities would also go here.
NOTE: Do not only think of partners as people working for free. Even suppliers or employees should be considered partners.
STEP 8: Look at your key activities and resources then determine the costs involved to operate the business.
As this point, just think about the major costs. You don't yet need to have all the detailed figures, but enough to give you a sense of the overall investment required.
NOTE: Don't forget to include the costs of creating the art product as well as any costs associated with your audience relationship.
STEP 9: Finally, figure out how you will make money from the art you create.
To decide on revenue streams and the revenue model, look at what would the customer pay for and how they would be charged e.g. one-off payments, installment payments, lease, rental, subscription etc.
NOTE: Don't try to go straight to this step without working through the previous steps.