Hourly Rates Verses Set Price

Why hourly rates don’t pay…at least not what you’re worth anyway! Reply to each point based on your experiences. I’ll post each new point in its own post. #1 Because you’re chronic overachievers and over-deliverers, you’re almost guaranteeing you’ll be underpaid for your work because you’ll work well beyond the agreed upon time to get it right. Am I right or am I right?!
#1 is spot on with me! I am a dyed in the wool perfectionist and the hours I put in preparing for that twenty minutes of fame on the stage amount to about 4 to 6 months of my valuable time. There is also the communication with the Maestro, first chairs in the orchestras and such where I put out my interpretation of the piece I am performing. All that for 175 dollars became a drudge to me and led to economic and personal frustrations. I began to feel that what I do was not valued.
To make a difference, I did a time management study based on my professional rate elsewhere and came up with this conclusion. To charge less than 50 thousand for that single performance was cash raping me and keeping my mind on other things such as where my next meal was coming from. .
I could not fathom this price structure as a young artist. It seemed outlandish to me at the time. Is what I do really worth that? Why am I always struggling with putting food on my table and in my belly? I really like good food and great wine pairings and yet I am existing on beer and pork skins.
I had to change my way of thinking about myself and the value I bring to the negotiating table. What I found out about myself amazed me to no end! I was worth something and the highly developed skills meant I no longer had to do the name dropping game, I could talk about myself and how I developed my skills by stepping outside the box and going for broke.
There is nothing wrong with challenging traditions and set ways of doing things and that is exactly how I have been living my life! I just had to see it to believe it.
When I took the lead and put out a set price, the inquiries and bookings started to happen again. I learned to be upfront and honest with myself and market what is special in my life. I changed some approaches also in that I was handpicked to study and work with some of the who’s who of American and International music. What a powerful attribute to bring to the table! That makes me a rare commodity in today’s world and I am marketing myself with that attitude and yet remaining humble is no longer a challenge. Being humble does not amount to humiliation and now I feel better about myself and the products I produce.

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