Posts Tagged ‘profit’

How to Price Your Craft

Whether you’re paid in dollars or with your audience’s gratitude, I’ve written here before that you should think of your craft as a business. Not in the Ebenezer Scrooge “let’s make lots and lots of money” sense, but in the “I value my work here enough to take it seriously” sense.

If you’re lucky enough to be able to value your own art, then the next question is “how much should I charge?”

How you answer this question could spell the difference between success and failure.

Why Many New Artists Fail

Here’s the thought process of many new artists:

  1. I’m new.
  2. I need work.
  3. I’m not as good as those who are more established in my field.
  4. I’ll charge less to “get my foot in the door.”

I’ll tell you where this leads: within months you’re finished.

Why? You were so worried about overcharging that you underpriced yourself right out of the market.

If you don’t make enough money to pay your bills, you’ll become discouraged. I understand that part of being an artist is learning to throw off discouragement…we’ve all been down that road. But in this case, it’s more fatalistic. You begin to tell yourself “I’ll never make any money doing this.” Sadly, the stack of bills piling up in the corner confirms your suspicion. (more…)

Paying Off Credit Card Debt

Ever watch a hamster spin the wheel inside of its cage?

My daughter Kiera has a hamster named Violet. At least once every day I’ll find my kids in their bedroom giggling as they watch poor Violet spin faster and faster, her little legs pushing harder and harder. Where does she end up? Right where she started. Funny entertainment for my children, but a lot of work with no payoff for the hamster.

Many people with credit card debt feel like the hamster. Every month they send a large chunk of their paycheck to a credit card company, but just like Violet, they spin and spin, working hard, collecting a paycheck, sending it to the credit card company, again and again, never seeming to get anywhere.

This week I’m going to help you stop spinning the wheel and start making some progress.

Let’s avoid three common mistakes I see every day:

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Drowning in Debt?

“I’m drowning!”

That’s the common cry when people tell me they have too much credit card debt. It isn’t simply “I have too much debt,” or a polite “I’d like fewer bills, please.” They’re sinking in debt and need to be rescued fast. It’s a full-fledged, panic-stricken wail.

Maybe it should be. According to CBS News, the average credit card interest rate jumped 13 percent to 14.7 percent in just the last twelve months. I met a woman last week with a thirty percent interest rate card. Thirty percent! She’d paid over one thousand dollars in interest since the beginning of the year. Imagine what you could do with an extra thousand dollars.

Drowning is a creepy, but appropriate analogy for debt. Maybe you’re drowning in overdue or soon-to-be overdue bills, but I’m not going to save you.

I’m going to teach you how to swim.

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Is Your Career Worth It?

Here’s some goods that — I think — I’ve come to know:

If you cultivate the talent within you, commit to working hard, and are able to create and then execute a specific plan with persistence, drive and determination — we can and will ultimately have success doing what we love! It’s been true for countless artists before us. And it’ll be true for thousands more, hopefully including you.

Yay.

But now the bad news. I have absolutely no way to predict whether that success will arrive in 6 months, 6 years or 16 years!

Boo.

So, pause for a moment and consider: What if it does happen to take 16 years?

Will you still be here?

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