Episode 2 - lewwe gooo! 🚀🔥
This week, Matthew & I tackle a much more nitty gritty discussion - setting your own rates in the creative industry. A couple key takeaways from our open chat on all-things-pricing in your creative career:
💎 Do your market research. - Check out industry standards on both an international & local scale; don’t be afraid to ask fellow friends in the industry for opinions based on their own experiences.
💎 Know your minimum. - Understanding where you’re not willing to compromise will be crucial for negotiating with prospective clients. Have a baseline number that you know you simply cannot go below.
💎 Not everything needs to be monetary. - Think about your long-term vision/ goal if the client isn’t able to meet the budget at the time. The exposure element, additions to your portfolio as well as potential future connections should be taken into account in your considerations.
💎 Consider bartering. - If you’re passionate about working with a particular client, think about how you could exchange services/ products instead. Consider a mix where you’re both monetarily compensated, as well as receive an allotted amount of bartered services.
💎 Don’t lowball. - If you’re doing this to enter the market, that’s understandable. But with experience behind you, it won’t serve you, your client, or the overall market to undersell yourself in the long-run.
💎 Stay accountable. - Be careful not to bite off more than you can chew. If you do - be as transparent as possible with your clients if you haven’t met their requests; this will consolidate integrity & trust, allowing you to preserve and continue to nurture the relationship.
Like what you heard? Drop us a comment about what you enjoyed about this chat - or what you didn’t! We’d like to know exactly what you guys need or want more of in upcoming episodes 💥.
’Til the next, good peeps! 🫡
