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How To Set Up Your Pricing Structure

Lesson 3 of 7

Tackling Pricing Structure Fear

 

How To Set Up Your Pricing Structure

Lesson 3 of 7

Tackling Pricing Structure Fear

 

Lesson Info

Tackling Pricing Structure Fear

I know you're scared and pricing your work may be hard but I promise it's going to be worth it. So are you all ready? Yes? You all are the quietest I have seen you all day (laughter) Okay. Alright. So let's talk about tackling your pricing structure fear. Let's go. Alright. So imagine your future. What would happen if you actually charged your worth? What would you see happen? Would you be able to take a vacation? Would you be able to buy a new camera? Would you be able to wipe out your debt? Would you be able to maybe hire that studio manager? Maybe you will be able to do something that you haven't been able to do. So, I want you to imagine in your brain for just a moment and I'm going to give you a few seconds to just think. What would happen in your life? What would your life look like, if you knew for sure that you were earning a profit? Would what that look like to you? Work less You may work less Afford those Amazon boxes You can get some Amazon boxes yes What else? You...

get yourself. You get yourself. Your self esteem. There's a Youtube video and the lady, she talks about faking normal. And what I want to say to you is that sometimes we feel like we're not charging our worth, and sometimes we don't feel worthy enough, and sometimes we are all living on shoestring budgets, but nobody will say it. Everybody has that fear, everybody may be living paycheck to paycheck, everyone may be feeling like if this client doesn't pay their invoice, my lights are going to get turned off, or I won't be able to pay for my kids food, or childcare, or whatever the thing is. Everyone has felt that way. The problem with social media is that no one says it out loud, so you live in isolation thinking that you're the only one going through what you're going through at this exact moment. Does that make sense to you all? So I'm okay with saying in front of a whole bunch of people, I'm not even going to think about how many, that I'm not perfect. I don't mind telling you that. If me saying that I'm not perfect means that you get an opportunity to see yourself in me, and you get a chance to do something different for your life, I'm okay with that. One of the things in my life is that I do not like to wear a mask. It is what it is. I'm not perfect. So, you could start to contribute to the household and pay some bills, perhaps you have a partner who believes that your job, that you do so greatly is just something that you do for fun. Imagine if you were able to contribute to the mortgage, or to maybe the electricity bill, or whatever it is in your life that you want to do. Just imagine what would happen. Maybe you are able to save for a vacation. Just maybe, maybe you were able to take a few days off, maybe you get the new equipment that you've thought about. Like the new camera comes out, and you're like: "Man, I wish I could pre-order. Oh, I have a mortgage". Right? Like if you charge your worth then maybe you put a little bit to the side, perhaps maybe you'll have a little bit available. Maybe you'll be taken serious as a business owner. Perhaps, and then you increased your self worth. So if you are sitting here in the audience, or online with me I want you to take out your phone and take a selfie. (audience chatter) You don't have your phones? Okay, somebody snuck a phone in (laughs) Take a selfie, even if you're watching live, take a selfie. Did you take it? Make sure it's cute now. And then put it back on silent once you're done. Make sure you have your selfie. (audience member says something) (laughter) Alright does everybody have their selfie ready? I want you to look at the picture for just a moment, and I want you to tell that person that you are worth it. Tell the person that you are looking at that you are worth it, and your prices that you create, they don't have to have the approval of anybody in your community. They don't have to have the approval of your spouse. They don't have to have the approval of your best friends, because they're going to say: "Are you serious, "you're charging this much?". You don't have to have the approval of your competitors and you surely do not need the approval of a Facebook group. The only person that your prices need to matter to, is the person that you just took a picture of. That's who's most important, okay? So nothing is impossible, the word itself says: "I'm Possible.". You are able to charge your worth, even if you're just starting out. Because for whatever reason when we start out, you look at someone else's work and you compare yourself to them and you're like: "Oh, no way. There's no way I could charge ten dollars, "no way, no way". But whenever you start to compare yourself I want you to think to yourself, Tomayia said that I'm worth it. So when someone comes to you and they say: "Well I don't think. I think you're charging too much." They didn't tell Beyonce that. They didn't. Whatever Beyonce and the Beyhive decided that they were going to charge, that's what everybody paid. Regardless if you had to sit in the nosebleeds or you were sitting on the floor, whatever price popped up on Ticketmaster, that's how much you paid. So, you have to tell yourself that I'm possible enough to be Beyonce. That's it, you have to tell yourself that I am worth every single penny that I charge. And when we get to the expenses and how much you should make in just a moment, when we get to that number, I want you to look back at yourself and say I'm worth it. So when someone calls you and they say: "Well I don't think "you should have to charge that much." or: "I don't think I want to pay you.". Excuse me? Did you tell Beyonce that? You have to keep remembering that you're constantly worth it. At this point in my life, I would honestly sit at home, with my children, spend my time there versus walking out of the house knowing that I'm devaluing myself and my brand. And I know how much I need to survive. I know that. And then they're going to tell everybody else, you know she's cheap, call her. Then I'm really screwed. Okay, so just think about it. And when someone said earlier: "You know, when I'm cheap, "then people won't hire me.". Yeah, it's kind of strange like when you're cheap people are afraid to even call you, like: "This is too cheap. Something's wrong here." Nothing is wrong, what's wrong is your perception of who you are, and who you are as an artist, and how much you believe that you should be charging.

Class Description

Are you afraid to raise your prices but you’re not making ends meet? Are you worried that you’ll lose clients because they’ll think you’re overpriced? Join photographer and educator Tomayia Colvin as she talks you through the process of identifying what your photography skills are worth and how to charge for them.

In this class Tomayia will instruct you on:

  • How to conquer your fears of charging what you’re worth
  • Figuring out what your business costs are and what you need to make a profit
  • Creating a price list that covers your skills as well as the products that you offer
  • How to market your services to new and existing clients

It’s scary to charge more and worry about whether you’ll lose clients. But Tomayia’s experiences in this area will help you gain the confidence you need to acknowledge your value and still attract new clientele.

Reviews

Sher
 

Great information. Simple, clear and interesting presentation. Thank you for sharing your knowledge.

Robin Spencer
 

Tomayia Colvin is delightful, a great storyteller and easy to listen to. A very simple explanation of basic accounting for photographers and a real eye opener for many.

Flash Hoogstraten
 

Gives you great insights about how to handle your prices and to be confident to ask those prices!