4 Benefits of Collecting Art Besides Hanging Beautiful Paintings on the Wall
Patiently collecting art expands awareness and maybe your professional network, too.
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Every company wants to stand out in their industry. To make your company an original, you need to apply some artistic creativity to the decisions you make. The simplest way to tap into that innovative spirit may be to start learning about and collecting art. Although more and more tech moguls are breaking into the art-collecting world, that doesn't mean it's confined to the elite.
Even young entrepreneurs can get into the game if they play it right. In the 1960s, Herb and Dorothy Vogel, a postal service worker and a librarian, began collecting minimal and conceptual art. Despite financial limitations, they allotted a certain percentage of their salary to buying art. Over time, they collected more than 4,000 works of art, which could've netted the couple millions of dollars if that was their interest. Instead, the Vogels donated their collection to 50 institutions across 50 states.
The process of creating your art collection is an art form in its own right. When you're passionate about the arts, you can commit to the long journey of collecting without worrying about what you'll get out of it. And by supporting art institutions and artists, both you and your company can experience a wide range of benefits.
1. Grow your network.
When you support art organizations or become a member, you'll gain access to exclusive networking circles. Museums and art organizations hold multiple events and benefits every year, allowing you to network with some of the most influential people in your area. These people likely have resources and connections you otherwise wouldn't have access to and can help expand your network even further.
Related: Power Networking: Use Your Power Base to Grow Sales
2. Pay attention to detail.
Business coach Dana Beth Ardi often takes CEOs to the Museum of Modern Art to learn lessons from assessing pieces of art. She encourages leaders to think more like curators, as they bring together individuals with different approaches to create completely different dynamics. As leaders think critically about these works of art, their first impressions tend to change. Ultimately, they learn that any given situation has a multitude of interpretations.
Vetting and collecting art allows you to appreciate the small details in people and projects. When you can see how even the tiniest change can have a major impact, you'll be able to arrive at more meaningful decisions as you apply this thinking to your business.
3. Learn how to think simple.
Getting involved in the art world teaches you the importance of simplicity and minimalism. Your life as an entrepreneur can so easily become bogged down in minutiae. Learning that less is often more can help you focus on the most important aspects of your business and derive simple yet effective solutions.
Related: The Secret to Successful Product Design? Simplicity.
4. Diversify your cultural awareness.
Each culture comes with its own ideas about life and work. When you collect art from across the globe, you'll learn about cultures far and wide. Apply these lessons to your business, and these new ideas may help you better mine the talents of your employees.
You can create an important and valuable art collection by doing in-depth research and focusing on emerging artists you believe have a promising future. Consider taking online courses through institutions such as Sotheby's Institute of Art, subscribing to art publications and networking with other collectors on platforms such as Collecteurs.
As you take a vested interest in the arts, you'll inevitably make mistakes and have some regrets along the way. But if you take the time to truly learn, you'll open yourself up to the many benefits that come from collecting great works of art and enjoy the aesthetic appeal of your newfound hobby.