I've had several emails lately from designers/artists asking if they should cut their prices to pick up business. The one thing that being around a few years has is that I've seen it all. Mind you every time it is different. Our economy has so many influences, most of which each of us as individuals has no control. What we do have control over our personal situation. Tip: I never way for the economy to turnaround on its own, I've always taken the bull by the horns. Hence still being around a lot of years later.
Lesson 1: Don't cut your prices add to your offerings by pulling skills out and putting them on the table to produce revenue. Every good designer should have been schooled in multiple skills. Darn, I can screen print with materials handy in the house if I needed to. It's what you learned in school to survive the starving artist syndrome.
Lesson 2: The Dolly Parton school of economics. " I do pop music to pay the bills, so it will allow me to sing and write the mountain music I love".
Always have your cash generating skills, there are somethings that don't provide us much but brings you much satisfaction. You need both.
Lesson 3: Are you worth it. I don't cut my hourly fees, I've worked long and hard to earn my pay and then I own the company (as small as it is). I will cut down on extras to cut down my bottom line. Figure ways to streamline that can help the client as well. Simple things, just like emails and client blogs. They save 75% of the time I used to use on the phone. Helps me work with more clients, keeps their hourly consultation costs down.
Lesson 4: Enjoy the slack time, believe me if you are good, it will change over night. So take this time to refresh, catch up on technology and industry news. Improve your skillset, make new contacts and enlarge your circle of influence.
By design, that is the life cycle of business.
Labels: designer skills, dolly parton, pricing