{"id":61488,"date":"2017-08-03T21:05:22","date_gmt":"2017-08-04T04:05:22","guid":{"rendered":"http:\/\/erickimphotography.com\/blog\/?p=61488"},"modified":"2017-08-03T21:46:52","modified_gmt":"2017-08-04T04:46:52","slug":"photography-workshops-101-chapter-2-how-to-price-yourself","status":"publish","type":"post","link":"https:\/\/erickimphotography.com\/blog\/2017\/08\/03\/photography-workshops-101-chapter-2-how-to-price-yourself\/","title":{"rendered":"PHOTOGRAPHY WORKSHOPS 101: Chapter 2. How to Price Yourself"},"content":{"rendered":"
\"CAMERA<\/a>
CAMERA MONEY USD by ANNETTE KIM<\/a><\/figcaption><\/figure>\n

\n \u00e2\u20ac\u0153Just set your price and live your life\u00e2\u20ac\u009d- JAY Z\n<\/p><\/blockquote>\n

Pricing your photographic services is like black magic. Honestly, there is no answer. You just gotta have faith in yourself, and set your price, and see how the market responds.<\/p>\n

<\/p>\n

So let me give you some practical advice.<\/p>\n

\u00e2\u20ac\u0153Value\u00e2\u20ac\u009d is a man-made concept<\/h2>\n

Primo, know that there is no such thing as \u00e2\u20ac\u0153objective\u00e2\u20ac\u009d value.<\/p>\n

For example, to me, common sense would say that a $1,000 white T shirt should not exist. But it does. And it sells.<\/p>\n

To me, common sense says that a painting should not cost $100 million. Ultimately, a painting is just molecules of paint splashed against a canvas. If you break down the cost of materials of paint and the canvas, a painting should not be that expensive.<\/p>\n

But this is the thing… you cannot create value purely through the material costs of whatever you make. Rather, you need to assert your VALUE.<\/p>\n

Why do people spend money on things, products, or experiences?<\/h2>\n

Let me continue.<\/p>\n

\n The value of something is how much someone is willing to pay for it. – Publilius Syrus (written 2,000 years ago, in Ancient Rome)\n<\/p><\/blockquote>\n

Whenever you see people spending a lot of money on something, never fall them \u00e2\u20ac\u0153irrational.\u00e2\u20ac\u009d That is loser talk.<\/p>\n

Rather, try to understand… why<\/em> is someone willing to spend that much money on that … thing?<\/p>\n

Some ideas\u00ef\u00bc\u0161<\/p>\n

    \n
  1. People buy something or a service because it makes them feel more confident, powerful, or joyful. <\/li>\n
  2. Status symbol\u00ef\u00bc\u0161 humans will always want more status and power in society. They think by buying \u00e2\u20ac\u0153X\u00e2\u20ac\u009d it will make other human beings value them higher. <\/li>\n
  3. Respect: People invest in things to gain \u00e2\u20ac\u0153respect\u00e2\u20ac\u009d or \u00e2\u20ac\u0153trust\u00e2\u20ac\u009d from others. For example, I would probably trust a lawyer who drives a Maserati instead of a Honda Civic. Why? I have a mental shortcut… the guy with the more expensive car is probably more \u00e2\u20ac\u0153successful\u00e2\u20ac\u009d and therefore smart. <\/li>\n<\/ol>\n

    Price is FRAMING<\/h2>\n

    Price is also from COMPARISON.<\/p>\n

    In psychology, they call this \u00e2\u20ac\u0153framing\u00e2\u20ac\u009d. To learn more, read THINKING FAST, THINKING SLOW.<\/p>\n

    Let\u00e2\u20ac\u2122s say for example you see a camera you want to buy.<\/p>\n