Anyone who's so much as dipped their toes into the creative industries knows it's a struggle to succeed, but this is often misdiagnosed as being due to a lack of finances. In reality, this is a symptom and not the cause. The underlying issues are the wrong drivers to succeed economically and a lack of professional expertise.
The wrong driver (for financial success)
The driver in business is often simple: to make money. Most people going into business for themselves are trying to A) make a living, and B) do a thing. We may love what we do, but we gear the business around making a profit or at least earning a living.
In the creative industries, we tend to stick to B) do a thing. The driver is to create, to tell stories, to make art, to entertain, to feel the rush of performing, to change minds, to influence. Wanting to make a living is very much secondary.
While you can't say there's a right or wrong reason for wanting to be a creative artist, there are definitely good and bad ways to make a living. If you want to enter one of the most competitive industries in the world – either as an individual creator or as an arts business – you're not going to do very well without a robust and realistic financial strategy.