Know Your Worth
I really think that people should charge a little bit more for what they do.
In my opinion, the overwhelming majority of people that I know vastly undervalue what they do. Guys who have years and years of experience performing at their craft will charge fifty bucks for a drum track or fifty bucks for a bass track.
That's just ridiculous to me.
I think that we all need to recognize, objectively, where we are in our craft and price ourselves accordingly. Do not undervalue or undercut yourself just to try to make an extra buck.
Let me tell you why.
I started out with my prices at less than half of what they are now, and when I increased my prices, I actually got more work and I got more good clientele. This is because the perception of value is a very important thing to consider when pondering what to charge for whatever it is that you do.
If you price yourself on the cheap side, people are will assume that is what you're worth. If you know, objectively, that you are worth more, then you've got to have the courage to price yourself accordingly.
It's super scary at first. I promise you, I understand. I did it myself. I went back and forth for weeks about whether to raise my prices. I felt like a jerk for even considering it, but the fact of the matter is, at the end of the day, I knew that my prices, where they are now, were reflective of the value that I was able to provide. That's why I took that jump, and it has paid dividends for me massively.
It just bothers me when I see someone misunderstand their own value, especially to the point when I see somebody offering to work for free. Do not work for free and do not ever hire anybody to work for free. Know your worth.
If someone offers to work for free, it is my belief that you should still pay them. Pay them something. Music is valuable. Making music is valuable. And if you work for free, or if you let someone do something for you for free, you are ostensibly saying that this craft is worthless.
You are devaluing it for everybody else.
When you set your prices too low to try to undercut the market, you actually are hurting everybody, so don't do that. I really encourage you to take an honest look at what the value is that you can provide as a producer, musician, whatever, and really reflect on what you think is a reasonable expectation to charge, not what you think people are going to be willing to pay.
Do not price yourself based on what you think people will pay. Price yourself based on what you are worth.
Listen to the podcast: https://anchor.fm/tomdupreeiii
Watch the video: https://youtu.be/-UiRFYcSlLs