Great video by Will Terry shares what he has learned about pricing. If you are in the creative field you know how difficult this can be to assign value to services that are not always tangible.
Many want that magical number and want to be advised on what the going rates are for artwork, graphic design and Illustration. The same is true for anyone in the creative field, including web design and copy writing. There are books on pricing, however they aren’t always accurate. The video really helped me to understand how to set my own pricing, and it may help you too!
Here are a couple take away tips that I got from the video. I watched all 30 minutes of it and it really helped me feel more sure about my bottom price line.
How to set your Pricing
1. Try to get your client to throw out the number/budget first
2. What is your bottom line? Check your motivation for doing the project (or check out the desire/compensation graphic for starters)
• Why you want to do the job? Forget what other people are saying, what kind of bills do you have this month? How bad do you need money? • How much will you enjoy or hate the project?
• Is it worth it?
If you say no to a price below your bottom line and hold your ground, and let’s say the client walks and goes with someone else, are you happy you didn’t do the job for that price? You should be, if not you have more work to do on figuring your bottom line and the reason for the project (are you broke?)
3. If the client gives no indication of how much they will pay, you decide how much you are willing to do the job for. Keep in mind that the plight of all contractors is the worry that you may leave money on the table.
One last tip to get the best price from the client. Business and value is based on perception and supply and demand. Don’t be desperate, or if you are don’t appear so!
As a artist you have to become a business person.
Most important is figuring your bottom line and working up from there.