Real-Life Decision Making
You are a potter with a master's degree in fine arts. You've
done your apprentice work and now make a living teaching ceramics in colleges.
However, you're thinking of starting up your own pottery business.
It's risky. You don't have lots of money to spare, and you would
have to spend a considerable amount on the studio space, equipment, utilities
and other things. New businesses don't usually make a profit in their
first year, so you would be in debt for a while. What's more, you live
in a tourist town and you know that things will be very slow during the winters.
You've found the perfect location. It's in a house near a commercial
part of town. You can buy it (with the bank's help), but it needs a lot
of work. The renovations will cost more than the property itself. You're
only one person and you're not handy with tools as it is. It's a
big job.
This is risky, because if you don't sell any of your work over the
next few summers, you'll be in debt up to your ears with nothing to show
for it. Your particular style of pottery is unique and unusual. That may be
an advantage and it may not: there might not be much of a demand for unusual
pottery.
It's not too late to change your mind. You could forget about opening
your own studio and just continue teaching. The problem with teaching is that
you will have to travel some, and you won't be able to enjoy the creative
process of making pottery. Still, it would be reliable work and you'd
be free of debt.
What are you going to do?