COST

WHAT’S THE ART OF PRICING?

Most creative people don’t just have hang ups about money… they usually have trauma. Many creators spend far more than they earn from their creations. Consider that by the time someone is 22, they’ve probably spent over $100,000 on art school, music school, design school, dance school. They’ve also spent considerable money on art supplies, saving up for musical instruments, hourly sessions at the recording studio, paying fees to be at expos, showcases, exhibitions, conferences, and markets. 

To reverse this mindset, you have to begin seeing how your creativity is not a drain on your bank, instead it could be the biggest contributor to your bank! To be a full hustle creator, you have to get out of the mindset of being a consumer and into the mindset of a producer. Basic economics would say that someone who buys classes, supplies, and pays fees without earning at least that much back is not a producer but a consumer. In short, having a great camera doesn’t make you a great photographer.

You also need to let go of dogma and myths you’ve swallowed around art and money. Many of us agree that “art is priceless,” but that doesn’t mean that artists shouldn’t be paid! The pricelessness of your creativity doesn’t equate to it being free. In fact it’s quite the opposite; it means that there is no limit to the value of your work.

You’ve probably often wondered how you can work so hard and yet be so broke. In the handbooks on Creation, Pitch, Channels and Ask, you learned that you can charge for your creativity if you can communicate its value effectively. In the handbooks on Assets & Allies and Time, you added up all of the hard work that goes into the creation. 

From here, you can now calculate the costs or “floor” of your price: this is the place where you break even. Meeting your costs is admirable, but it doesn’t allow you to quit your day job.

To be a full hustle creator, you have to get creative with pricing. Calculating the asking price or “ceiling” is an art form in and of itself. Don’t mistake being good with money as “uncreative.” Money is a very liquid concept, and there are different pricing structures and strategies that you can devote your creative right brain towards. In this course on Cost, you’ll set your cost “floor,” your price “ceiling,” and work out the different ways that you can make a living doing what you love.