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Charge What You’re Worth: AME 093

Today on AME, I’m talking all about money…specifically how it applies to art teachers who run classes or workshops or have a product to sell. I’m revealing my strategies for determining how to set the right price for your product service.

After 10 years of running an online business, I’ve learned a thing or two about what price to charge for products. And although I didn’t always get it right, I did learn that business – any business – has 3 main components:

1. Business strategies are the easiest to implement as they are things you can learn: management systems, email list, software, websites, marketing, social media, etc.

2. Personality is what frames your offer. This is the what and who you are. This is the energy and style you bring to whatever you are selling.

3. Limiting beliefs are literally what holds you back. It’s the stories you tell yourself that have a DEEP impact on any type of business you run: big or small. Identifying your limiting beliefs will help you answer your money questions.


WHAT YOU’LL LEARN:

– Why people expect your products to be available for free

– The three main facets of running a business

– What’s a beta project and how it can help you when you are first starting your business

– What charging low prices might look like to your potential customers and why premium pricing is beneficial

– How to look at competition and build a spark for your customers


LISTEN TO THE SHOW

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LINKS & RESOURCES

James Wedmore’s Mind Your Business Podcast

How to Know When It’s Time to Open Your Art Studio: AME 086

Best Practices for Acrylic Paints: AME 091


You can visit Patty through Deep Space Sparkle on Facebook and Instagram

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What do you think?

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  • v.sarantari

    Thank you Patty!!!!!!!!!
    I was thinking exactly like you !!!
    Thank you for helping me get rid of my guilt !!! You are absolutely right, we must not underestimate ourselves and our work. In Autumn, my prices will change …..
    Love you and your Super Group!!!!!

  • Jennifer Krohn

    Hello Patty,
    I loved the Charge What You’re Worth podcast. Thank you so much for your collaborative and sharing spirit! I have been watching you and have loved what you do for the last 10 years since I started as a volunteer art docent at my children’s school. I have done many of your fantastic projects over the years in addition to my own and always recommended you to new art docents. I have been talking for a few years about getting my own business going and getting the courage up to get started (also the time as my children are getting older) and your podcasts and blog have been so encouraging to me. I love your philosophy that “there is enough” out there for everyone. Thank you for being such a fantastic art teacher, cheerleader for others and business builder! You are SUCH an inspiration.

    Also, now listening to your process vs. product art podcast and I totally agree with this art teacher! I have high expectations for my students too! I want the students to learn something and have a good product.

    • Patty

      Thanks so much Jennifer! Now that you are starting to see the light at the end of the child-rearing tunnel, start making plans to teach. You ca do it!

  • Maria

    Thank you so much for sharing your thought process. I started a tutoring a couple children this year and have been wanting to offer math and art combo classes for girls. I really needed to hear your words as I completely undervalued what I was offering despite getting feedback from parents about how much they would want their child to take classes with me. I love the idea of beta-testing. You have given me confidence and the language to state that there is value in what I want to do.

  • Lesly

    Hi Patty
    Thanks for this podcast, I think in many ways it was talking to me.

    • Patty

      Absolutely, Lesly…keep moving forward with your business, taking chances, moving outside your comfort zone and teaching what you love to your sweet kids.

  • Vicky Swicegood

    Dear Patti,
    I want you too know how you not only saved my job but saved our family through deep space sparkle. I am so indebted to you for your wonderful outstanding website that it brings me to tears. I truly thank god for you and your team and for helping me so wonderfully this past year. Please know we love you all dearly. thank you! Vicky

  • Virginia

    Great episode! When I first got laid off I started teaching private art lessons and called a mom to offer 1 hour for $10. She said I should never charge less than $25/hr, so I did. But what I found out was that was not enough to keep me going back. When something better came up or I just didn’t feel like it, I canceled. I think the parents would have paid $50 for the service I was providing and that would have made a big difference in my outlook on it.

  • Barbara

    Thank you, Patty. You are an inspiration!

  • kopikodog

    Hi Patty,

    Thanks so much for this conversation! I am opening my studio to students this summer and am nervous/excited about it. I’ve been gauging my pricing off of what my kids pay for private music lessons and various other activities. For transparency, in the Washington DC area, it seems that a half hour of music is 40$. I don’t know I can ask 80$ for an hour, but think that the 40$ might fly. Thanks for giving me a bit more confidence in feeling like I can charge what I am worth.

  • Sherry Walker-Taylor

    I listened to episode 93. I wanted to hear exact amounts but then saw that I could leave a comment/question. I taught art for 46 years but am thinking about teaching 1/day per week, (6 class sessions) in my house. I have a small bedroom that has been turned into a studio. The classes, at this point, would be (1 hour each), using a variety of (media and techniques), and a small (snack) sometime during each session. Student limit – (3 per each session).
    I would appreciate any (suggestions and prices) that you feel would help me get started.

    • Patty

      What do you need to make in order for you to have a successful business? How many students can you teach at one time? How many classes can you teach in a week? Answering these questions will help you determine a fee. My advice is to test out your classes. The group size will be small so see if it works for you. I would suspect that you could charge a premium amount given the semi-private nature of your classes.

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