Nov 18, 2024
Supporting Artists Whilst Changing The
Marketplace
In this episode of ScaleUp Radio, Kevin
Brent speaks with John Sewell, founder of Cosimo, an innovative
online marketplace designed to help early-career and emerging
artists showcase and sell their work. With over 1,200 artists
already on the platform, Cosimo aims to make art more accessible
and affordable while supporting artists through e-learning
resources and strategic partnerships.
Key Discussion Points:
- Cosimo’s Unique Business Model
Cosimo is designed to support artists in their early careers,
offering free listings for artists with the option of paid
subscriptions for enhanced features. Unlike traditional art
marketplaces, Cosimo doesn’t charge commission fees (which can
range from 30% to 50% in the art industry). Instead, the revenue
comes from artist subscriptions and corporate sponsorships. Buyers
pay for shipping, which includes protection, similar to the Vinted
model.
- Overcoming Fundraising
Challenges
As a first-time founder, John shares the tough lessons learned from
raising funds through the Seedrs crowdfunding platform. It took two
years to secure his first funding round, gaining 150+ investors who
now form a valuable network. He also highlights the setbacks caused
by delays from a micro VC and stresses the importance of
contingency planning for future fundraising.
- Focusing on Marketplace
Development
While the platform initially concentrated on acquiring artists, the
focus has shifted towards attracting buyers and proving market
demand. John shares how content creation and social media are key
to showcasing the artists' work, and discusses the development of
e-learning resources to help artists improve their business skills.
This shift is essential as Cosimo aims to create a sustainable and
profitable business model before further investment.
- Technology and the Future
John also looks to the future, exploring how technologies like
AR/VR and AI can enhance the art-buying experience and create new
revenue streams for artists. He envisions a world where AI helps
more people tap into their creativity, ultimately expanding the
market for Cosimo.
- John’s Personal Growth as a
Founder
A lifelong learner, John relies on podcasts and mentorship to
inspire new ideas and solve business problems. He finds walking
while listening to podcasts particularly helpful and leverages AI
tools like ChatGPT, Bard, and Midjourney to streamline various
tasks. The support of other startup founders has also been
instrumental in his journey.
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For now, continue listening for the full story from
John.
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Kevin's Latest Book Is
Available!
Drawing on BizSmart’s own research and experiences of
working with hundreds of owner-managers,
Kevin Brent explores the key reasons why most
organisations do not scale and how the challenges change as they
reach different milestones on the ScaleUp Journey. He then details
a practical step by step guide to successfully navigate between the
milestones in the form of ESUS - a proven system for entrepreneurs
to scale up.
More on the Book HERE - https://www.esusgroup.co.uk/
John can be found here:
https://www.cosimo.art/
https://www.linkedin.com/in/johnedwardsewell/
Resources:
Tetragrammaton with Rick Rubin
podcast - https://www.youtube.com/@tetragrammaton_now
Canva - canva.com
ChatGPT - https://openai.com/