Building a 21st century business model

Innovation, engagement are key to creating a lasting impact

When I think about art museums, I imagine how they operate as democratic spaces, places where anyone can have an exceptional experience regardless of their level of education, economic or social status. I am reminded about why I chose a career in the arts in the first place and how it has fulfilled my boundless desire to share admiration and passion for art with the world.
Being the CEO of an art museum provides the opportunity to create a business model that positions the human experience in the forefront of the planning process by building a business that is focused on the customer experience and on what customers are actually seeking as opposed to what we think they should be experiencing. Basically, art museums are the perfect test sites for forward-thinking ideation, implementing creative solutions and increasing our understanding on how art, creativity, innovation, philanthropy and entrepreneurship can have a lasting impact on building 21st century business models.
So, if museums are good business models, then why is it that many cultural institutions continue to under-deliver on the very experience that could ultimately be the magic potion in transitioning museums from purely transactional experiences, into vibrant, inclusive and meaningful cultural exchanges? The life-blood of any cultural organization and business is how it transforms ideas into experiences and stories into memories, thereby turning visitors and customers into supporters. In order for everyone to have the opportunity to participate in our story, we must first come to the realization that as an art museum, we are not just in the art business; we are in the people business.
At the Akron Art Museum, we believe that art is for everyone, and we see the relationship with our community as an integral part of our goal to enrich the lives of every customer, visitor, patron and supporter. Our commitment to addressing diversity, inclusion and equity as an internal and external practice, is one of the most critical components in transforming any business into a 21st century enterprise. Embracing the human experience will likely be the most important cornerstone initiative the museum has undertaken in its 96-year history.
Another ingredient to the success of any business model is a strong focus on the organizational culture and values that support the mission of the institution. We are in the midst of a new public initiative to transform and ignite what we refer to as the Akron Art Museum Experience. Customers will be introduced to a new digital experience that will enhance the AAM Experience, prioritizing the digital technology to create a fresh and exciting way to interact with our collection and of sharing it with the community.

Change can be scary and potentially disruptive, but with a well-developed business model, inspired employees and engaged customers, making your business’s experience transformational, authentic and relevant will be key factors in determining what success looks like in developing your 21st century business model.

With over 30 years of leadership experience, Mark Masuoka, John S. Knight Director and CEO of the Akron Art Museum, has successfully led nonprofit art organizations and businesses in achieving exceptional performance, profitability and sustainability.