Periodically I offer a complementary webinar titled “5 Smart Ways to Make Money Now in Your Creative Arts Business.”
Before I delve into the five strategies, I spend some time talking about your mindset and knowing your value. From my experience working with creative entrepreneurs, I often find they struggle with determining a value for their work and then charging for it.
Here are some tips for dealing with your worth:
Know exactly what you are charging and why.
Are you challenged by what to charge for your services?
Many creatives are in this same place. You tend to undercharge because you don’t know what to charge. You look at what others are charging and figure it must be right.
Do you ever wonder how that person came up with her price? She probably did what you did: looked around at what others were charging and figured it was right.
Take the time to go back and determine how long it takes you to accomplish your work. Consider what your expenses are – overhead, taxes, materials, etc. Then determine what you need to make on an hourly basis to meet your expenses and make a profit.
Only then will you know if your price is right.