In my line of work, Entrepreneurial Start-Ups, I come across many interesting people and opportunities. Recently at my morning hang-out in La Jolla, I met a German gentleman, Raho Bornhurst, an online webinar producer of high profile authors moving from the traditional book tour and "live" events to online presentations via webinars. His roster of authors is very impressive and Raho is a bright and engaging fellow.
Learning what I did for a living, Raho was interested to see if I might be of help to his new friend that he had met in a Los Angeles art gallery. Samira Rostamabadi, was a well-respected artist, recently from Iran that had decided to remain in the United States and stake her claim as an "artist businesswoman." She had vast experience in all mediums of art, especially painting and had accumulated 5000 original works of art from working since the tender age of 5years old.
Samira had a remarkable "story" and it piqued my interest to try and help her with her entrepreneurial project. You see, Samira was actually a Royal Princess, the great-granddaughter of one of Persia's last Kings. She was highly educated and actually possesses a Royal bearing, evidenced by her quiet intelligence and poise. Her family had subsidized her life of producing art and Samira became enthralled with the "American Dream" of creating her own business and being financially independent for the first time in her life.
Raho felt that given my 4 decades of business start-ups (www.peterjburns3.com) that I could help the Princess so now.....I am embarking on a journey in the world of art...taking Samira's 5,000 works of art and monetizing them for her new business as well as creating licensing for the images of her select pieces as a lucrative vertical to her new venture. There is even a way to introduce an interesting process of "bundling" the rights to the images of artwork she sells to create a royalty stream for both the purchaser of said art as well as for Samira's new business.
Twenty years ago I was friendly with a talented artist on a personal level and learned that an artist always retained the rights of the images of their works of art, even if that piece was sold. I reasoned that these "rights" could be bundled with the art piece and actually "sold" to the art purchaser so as to create a royalty stream for both the purchaser and the artist selling the piece on an agreed upon and ongoing royalty split. This created the unique opportunity to have the work of art one purchased...to actually become an income producing investment through the selective third-party marketing and licensing of the art work's image. Until now, I did not have sway on an artist to actually try out my "rights bundling" project...but I do now with the Princess... because I am her new business partner. :)
So...add my first art business to the 150 or so start-ups my career as a "Serial Start-Up Entrepreneur" has produced over the past 42 years. Wish me luck!
Peter J. Burns, III can be reached at firstname.lastname@example.org and please visit his website at www.peterjburns3.com.