Question: Can you do your show or services for a cheaper price?
Wisdom for the day:
Answer: If you bill your working hours or your shows based on your experience and expertise, discounting them won’t lead to more work or more money. It will, very simply, lead you to a point where you resent the clients who buy at the lower rate. There are only so many working hours in a week. Professionals don’t have “extra inventory of their time.” As soon as you give – or request – a discount on hours, you’ve cheapened the value of your day, or someone else’s. You’ve made it impossible for the week to end on an up-note.
Once you establish that you’ll discount your time, it will never end. You’ll feel compelled to lower your price as a tool to get new clients or new work. It will become part of your negotiating routine. And what’s worse, you’ll come to believe that your own value is in question. And you won’t recover. Once it starts, it never ends.
NOTE: As a professional entertainer you want to book what is known as a BLOCK of performances. Then the rule of thumb is for example: You are going to be doing 2 prepaid shows a day for 7 days, then offering a block rate is always acceptable. You never discount your services you always take away what your bringing to the table.
Example: If your normal rate is 1,000.00 for a one hour show and your client wants you to reduce your price then in turn you would want to reduce the performance time to 30 minutes for $750. With the reduction in price so is the amount of time to perform. Point: You never discount your professional services because that always discounts your client’s perspective of you.
It is still true today — if quality and professionalism is what people are looking for then going cheap is not the answer. Still holds true today that you normally get what you pay for.