What is the creative economy?
The creative economy has no single definition. It is an evolving concept based on the interaction between creativity and human ideas and intellectual property, knowledge and technology. It is essentially the knowledge-based economic activities on which the "creative industries" are based.
The creative industries include:
Advertising and marketing;
Design, fashion;
Music, performing arts, like acting, and visual arts, like painting;
Crafts, such as weaving, furniture-making and jewellery-making;
Film, TV, animation, visual effects, video, radio and photography;
Video games, virtual reality and extended reality;
Research & development;
Museums, galleries about the types of creative entrepreneurs, you can bucket them into 4 categories;
Heritage, such as stately homes and cathedrals;
Publishing and libraries;
Design, including product design, graphic design and fashion;
Architecture.
They are also considered an important source of commercial and cultural value.
The creative economy is the sum of all parts of the creative industries, including trade, labour and manufacturing. Today, the creative industries are among the most dynamic sectors of the world economy and offer developing countries new opportunities to enter the emerging high-growth areas of the world economy.
About the types of creative entrepreneurs, you can bucket them into 4 categories.
1. The educator - Thought leader
The first type of creative entrepreneur is the thought leader. This individual is often known to be an expert or "thought leader" on a specific topic. This leader is able to grow their brand image and loyalty through the information and knowledge they provide, often valuable information that cannot be found elsewhere.
It is crucial that the thought leader comes from a position of excellence in terms of education and does not cross the line between being a teacher and a false guru. It is important that the thought leader also has credibility in his or her field.
This individual often uses a combination of blog posts, podcasts and videos that give away free content to create interest, authority and trust. He or she will be found on social platforms such as YouTube, Instagram, Facebook, etc. to spread their knowledge and information.
After building a strong relationship with their audience, they sell books, e-books, courses and workshops to generate revenue.
The key to their success is to provide great content to build an authentic relationship with a large group of followers.
2. The Artist - Maker
The Artist-Maker creates tangible goods that s/he sells to his/her audience. This individual cares about his art and about producing and sharing his art with the world. He/she may be a photographer, designer, artist, painter, etc. Tangible goods can take many forms: household items, clothing, jewellery, greeting cards, candles, paintings or perfumes.
The artist often uses platforms such as Instagram, YouTube, TikTok, Facebook, etc. to display his art. They make money by selling their products wholesale to retailers or directly to an audience of followers.
The key to their success is the creation of a product that appeals to a specific target market.
3. The Entertainer
The entertainer can use a variety of media: podcasts, YouTube videos, stories-reels-posts on Instragram, TikTok, web series, music, theatre or performance. The unifying factor is the production of engaging content that captures the audience. Entertainers can also be described as content creators.
They generate revenue from direct sales of tickets and live performances or through advertising and promotional items. The key to their success is building a sustainable audience of true fans who support them financially.
Thought leaders, eComm gurus and artists can also become entertainers to showcase their information or art.
4. The Freelancer
The freelancer exchanges his or her specific skills for an hourly rate or per project. He or she becomes an expert in a creative field. This includes a variety of jobs such as graphic design, web design, copywriting, photography, video production, social media management, public relations and illustration. They find clients both online and in real life and offer solutions to grow other people's businesses and non-profit organisations.
The key to their success is honing an expertise and promoting their skills to companies that can afford their premium rates.
Diletta