What’s A Creative’s Time Worth?

Some of the most celebrated figures in art history (Monet, Picasso, Rembrandt) all sold their work cheaply early in their careers.

I considered this at a specialized community vendor event I recently attended. There I observed a woman wishing to buy a painting, asking the artist, “How much is this?”

The artist froze, said “I don’t know,” then sat, unmoving, until the customer left.

My photographer brother frequently sells his work for a pittance for fear of scaring off buyers. My mother, a sculptor, did the same thing until my father began managing her business.

For years I fell into the same habit, finally realizing how much money I was leaving on the table.

This is common behavior for creative folks (writers, painters, musicians, etc.), who oftentimes equate someone liking their work with liking them. They have difficulty determining the value of their time and don’t mind losing money.

These folks see their art as an extension of themselves. Thus, if you like my photo, you approve of me. Given that many artistic folks are insecure, they’re afraid to demand what their work is worth, lest they scare away you… and your approval.

Consider the stereotypical starving artist, who is arguably ignorant about business; insecure; and has business partners (galleries, managers) taking huge chunks of their revenue.

Yup, lots of folks will happily take advantage of that self-doubt!

The wealth of business courses geared toward creative folks helps, but the bottom line is creatives are oftentimes their own worst enemy.

But they’re a business, and have development costs like instruments, paint, paper or cameras. Someone needs to pay for those development and production costs.

Then there’s the value of time and experience. I hire designers based not only on budgetary considerations, but also for their experience and expertise.

As a business owner, creatives should also consider what competitors charge. And if, in their desperation to make a sale, they don’t include their overhead (rent, heat, phone), they’ll end up losing money at day’s end.

Probably lots of it!

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So some friendly advice for my creative friends. Understand that you’re a business. Know not only what something costs you, but what it’s worth. And recognize that if someone wants to buy from you, your work has value.

You should charge accordingly.

With that said, I wish you a week of profitable marketing.
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