As part of the Morning Lazziness series about empowering women who encourage and do incredible things with their ideas in society, I had the pleasure of interviewing Katharine Earnhardt.
Katharine Earnhardt is the founder of Mason Lane Art Advisory Services, which has offices across the US and Canada. With nearly 20 years of experience in the art world, Katharine has an in-depth knowledge of art, business, and entrepreneurship, along with an aptitude for sharing it all with a particular clarity and charisma. She has worked at the Museum of Modern Art, Christie’s Inc, and Gurr Johns, conducting extensive research on art value and investment, and has spoken to countless groups and individuals about art market activity, including at or through Parsons School of Design, Royal Bank of Canada, Business of Home, Upwards & Associates, High Point Market, and the New York Design Center. Topics range from business growth, to entrepreneurship, art appreciation, and value within the art market. Katharine has a dual degree in Art History and Economics from Williams College and a Master’s in Art Business from Sotheby’s Institute of Art. Known for her transparency and personalized, engaging approach, Katharine grabs the attention of an audience leaving them educated and inspired.
Here’s what we found out about Katharine‘s daily routine, followed by an exclusive Q+A.
Can you share the story behind your journey as an entrepreneur? What inspired you to start your own business?
I started my own business because I find problem solving to be incredibly satisfying, and I like carving my own path vs. following someone else’s. Starting a business lets you flex your problem solving muscle all day every day. You are the CEO and janitor of your business, and you need to be agile, think creatively, and stretch yourself well beyond your comfort zone to learn about website design, marketing, financials, delegating, time batching, client communication, legal agreements and so much more. I love mixing the creative and logical sides of my brain and learning by doing, so founding an art advisory business truly fueled me in ways no other role had before. I also did a competitive analysis to see what other art advisors were doing and quickly noticed that no one was running an art advisory business the way I envisioned – catering to the entry level collector, marrying art and design, establishing a structured process. This created a natural opportunity for me to pursue my authentic vision because there was no true competition. Plus, there are no rules in the art advisory space. I had ample opportunity to experiment, learn, and grow. When you can do this in a way that aligns with your own vision rather than others’ expectations, you’re more likely to get long term enjoyment from the experience and build a successful business.
- What challenges have you faced as a woman in the business world, and how have you overcome them?
The main challenge I have faced is less obvious than juggling home and family life, or experiencing overt sexism in the workplace – it’s been learning about the limiting beliefs I didn’t know I had, and working to change them. Educating myself about gender roles and their roots has been incredibly valuable to my personal and professional life. Books like “Curse of the Good Girl” by Rachel Simmons, or “On Our Best Behavior” by Elise Loehnen have informed me about how girls are raised differently and why women unknowingly underestimate their own potential. I find this type of information completely enlightening because it puts meaning around feelings, behaviors, and experiences I, and so many other women have, that just don’t serve the life we want to pursue. These types of resources should also not solely by explored by women; men would be better off by learning more on the topic as well. Gender discrimination does not serve society as a whole, and so many of us are not even aware of the thinking we’re doing or actions we’re taking that are limiting. Do your research on the topic, and you be better equipped to navigate professional and personal pursuits.
How do you balance your professional and personal life as an entrepreneur?
I have very little mom guilt because I truly protect time for the various priorities in my life. I have a weekly cooking date with my girls that we’ve done since my oldest was 1 years old, and we still do it every Tuesday, 10 years in. If my kids have an annual doctor’s appointment, a school performance, a gymnastics meet (and wow, there are a lot of those during weekdays), I put the time into my calendar and it is a non negotiable. Alongside that, I also protect time for myself in my schedule; I go to dinner on my own once every two weeks, bringing a book or my laptop to the restaurant as my date, and sometimes have dates in the calendar to go upstate by myself and reset. These complement daily practices of exercise, meditation, therapy and more that all keep me in balance. It’s not a perfect science, and I sometimes make less-than-optimal choices, but I focus on the lesson that experience provided, and apply that going forward, rather than wallow around in regret or shame.
What strategies have you found most effective for networking and building connections in your industry?
The most effective strategy for networking and building connections in my industry is to think of business development as a practice, not an extra chore that is done when time allows. Part of that practice is capturing contact information of those in your growing circle and having a clear way to touch them on a regular basis. We use Google Streak, an add-on CRM system. By creating pipelines for leads, clients and prospects, and creating non-negotiable and dedicated business development time, I can consistently optimize the relationship with existing clients, fostering closer connections and word-of-mouth marketing, and build new relationships.
How do you approach mentorship and seeking guidance in your entrepreneurial journey?
I have a vision board of people I admire, and it includes people who I know and do not know, real and fictional. It serves as a useful reminder of the various characteristics that I want to let shine more. We all have so many sides of ourselves, and it’s easy to get stuck in one and suppress the others. Frequently being reminded of what I admire about others lets me get in touch with the sides of me that may not be as easily accessed, and that keeps me on track. In terms of a mentor, I do not have one single person, but I believe in the power of collaboration, especially in an industry like art advisory in which so many people work independently. This is one reason why I built an advisory firm that includes business partners in other cities – so we can share ideas, troubleshoot, and support each other. This also provides a level of accountability and fun. Laughing with my colleagues makes every day so satisfying. Beyond this, I started a group called the Art Advisor’s Collaborative (the AAC) that brings together art advisors from around the country once a quarter to share goals, professional development ideas, artist resources and more. We all get value from this 60 minute meeting, and it’s planted a seed for another project I’m working on that will provide professional development opportunities for business women in the art and design space.
Can you talk about a specific setback or failure you’ve experienced in your business, and how you bounced back from it?
My journey has been filled with setbacks that I am thankful to have had because they simply provide me with experience that makes me a better person, professional, and art advisor today. One of these experiences is actually quite funny to remember. Soon after founding the business, I was eager to forge relationships with reputable interior designers. I met one, who indicated she had clients eager to buy a ton of art on their jaunt to New York City. They spoke no English and their feng shui expert would be joining. I obliged with no agreement and no discussion of my typical process with the hope of selling art and having a referral source for life. I had a car take us around the city for two days, introducing them to some of my best gallery and artist relationships, having art pulled from storage for the viewings. Those clients may have liked the art I showed them, but their feng shui expert did not. Not a single piece was bought, and the desired budget that was communicated to me shrunk by the day.
This experience taught me the value of saying no, recognizing mutually respectful professional relationships, and gaining a keen understanding of the decision-makers involved in the process. The confidence I now have around these issues translates to how I show up for my clients and designers in a way that is helpful for everyone involved, leading to more successful outcomes all around.
In what ways do you prioritize diversity and inclusion within your company or startup?
One of our core beliefs at Mason Lane is that art fosters connection. It fosters connection between artists and their internal feelings, between artists and viewers, between viewers and their internal feelings, and between seemingly diverse people who, without art, may have never otherwise crossed paths. In working with clients, we are not simply showing them pretty paintings; we are helping them feel connected to a broad cross section of people, concepts and artwork that touches them in unexpected ways. In doing this, they gain an appreciation for new kinds of thinking, means of self expression, cultural experiences and more. This is what breeds a long term interest in a particular artwork, artist or genre, and it is incredibly satisfying to see our clients’ mindset shift as they successfully start to embrace a broader understanding of diversity, tolerance and inclusion through the lens of art.
How do you stay motivated and resilient during tough times in your business?
Motivation and resilience have never been a struggle for me, and it is entirely internal. I have a huge urge to consistently improve upon my own performance. One way I have made this possible is by tracking data around my business. The Economics major inside me loves a good spreadsheet, and I have purposefully tracked business data for years, including number of clients served annually, average price per artwork purchased, number of artworks purchased per client, revenue generated from clients referred to us through designers vs. those coming to us without designers, and more. Having this information helps me set goals, achieve them, and know where I need to improve. I cannot imagine feeling as motivated without this data as a baseline, and I recommend data tracking for any business person as a tool to fuel growth.
What advice would you give to other aspiring women entrepreneurs who are just starting out?
Set up the scaffolding of your business now, before your files and financials are too much to handle. Having a system in place for managing your sales pipeline, inspiration or inventory, and documents is an investment in your future time and cost efficiency. It is too often overlooked because new business owners are inclined to focus purely on sales, and/or they simply do not know how to set up back-of-the-house systems. The impact of not prioritizing this, however, can be debilitating mentally and logistically. Put the effort in early to set up sustainable systems that can be maintained, and you will be able to run an organized business with a clear mind for growth.
Can you share a memorable success or milestone that you’ve achieved in your entrepreneurial career?
I left Art Basel Miami Beach last December with such a strong sense of accomplishment. That fair has served as a marker of my art career since I first went in 2010. This past December was my 10th year joining as founder of Mason Lane. I was joined in Miami by 5 colleagues from our 4 offices across North America and we sold $300,000 worth of art in 4 days. That $300,000 is nothing to some art world veterans, but to me, and today, it’s a piece of a larger picture that represents success. Adding to that success is that gallerists who had never met me or my colleagues knew who I was and what my company was about. I had built a brand with a reputation that others respected.
This is all such a leap from when I first went to Art Basel Miami Beach on business nearly fifteen years ago, I didn’t have a client to shop for. I had managed to get a VIP pass for early entry through Christie’s, my employer, and within the sea of deal-making gallerists and advisors, I strolled the booths, sometimes chatting on the phone with my mom. My target clients were the highest end collectors in the world – the kind that owned more art than their multiple residences could house. Some of them had their own museums with rotating exhibitions. These people were definitely also at the fairs, not talking to their moms; that’s where they conducted business, securing coveted artwork and having their people wire over funds. This was also absolutely not the place where I could talk to them, and I needed to navigate the social scene to figure out how to get in front of them, get some business cards, and secure the highest caliber clients.
