Confronting, no?
Putting a number on your time brings up all kinds of inferiority complex playmates: Am I enough? Is my work enough? Do I even know enough to charge? etc. etc.
The MONEY MONSTERS start roaring the minute you start to consider your value. They can’t help it, they’re trying to keep you safe.
So take a step back and remove yourself, your sense of self, from the equation.
Figure out how long it takes you to do what you do. Write that down.
Add up the financial cost to create what you create. Put all the numbers in there, pens, internet, muppet felt for your puppet, everything.
Make a note of what you make in other paid aspects of your life. Other jobs, gigs, side hustles, even tips. Write it all down.
Also consider what you would like to get paid, your target price or money goal. Put that in the top corner of the paper where your name used to go in elementary school. Circle it. Star it. Make it fancy.
Now, add the money you make in the other parts of your life to the costs to make what you make. That’s your bottom line. That is how much it costs you in man hours and supplies to make 1 of whatever you create. Don’t accept anything for less than that number.
(wage at other money gig) + (costs to make your art) = BOTTOM LINE/No Line
Next divide your money goal amount to be paid by how long it takes you to make it. That’s your target take home pay.
(Money goal to be paid) / (hours to make the thing) = TARGET TAKE HOME PAY
Finally (and maybe most important of all ~ PLEASE DON’T SKIP THIS STEP), add the cost to make your art and your target take home pay. This is your ideal rate to charge. Cha- Ching!
(Costs to make your art) + (Target Take Home Pay) = Ideal Rate to Charge
Somewhere between your Bottom Line (your No Line) and your Ideal Rate to Charge is how much you should charge. You can always agree to more but you can’t settle for less.
Sound like a plan?
