| Every entertainer has a perceived market value - the | | | | Performing for any type of audience at any dollar |
| amount of money people are willing to pay for your | | | | amount takes time and energy. If you're scrambling |
| services based on their past experience with you or | | | | around chasing low-paying gigs all over the country, |
| their name recognition of you. Unfortunately, during | | | | you're going to be too short on time and too |
| tough economic times many entertainers feel they | | | | exhausted to get yourself into a higher fee bracket. |
| must reduce their fee in order to get the gig. They | | | | It's very difficult to break this cycle once you get |
| think short-term and become a "gig pig" rather than | | | | into that rut. You're better off spending your time |
| adopt a long-term philosophy of protecting their | | | | marketing to higher paying crowds. Do the math. It |
| value. Whatever your perceived market value is, you | | | | takes five $1,000 gigs to get the same income as |
| must protect it, nurture it, and grow it despite the | | | | one $5,000 gig. That's five times as many days away |
| current economy. Lowering your price in the | | | | from home, five times as many travel days, five |
| short-term economic recession hurts your long-term | | | | times the work, etc. Let's say your target income is |
| profitability. Granted, you need money now to pay | | | | $20,000 a month. That means you either need to get |
| your bills, so it might be easy to justify lowering your | | | | four $5,000 gigs or twenty $1,000 gigs. Think of the |
| rates. There are other ways to make some | | | | extra hustling, traveling, and the wear and tear that |
| short-term money to fill in any gaps in income, such | | | | twenty gigs in one month will have on you and your |
| as a temporary part time job. Even better, start | | | | family. |
| saving some money so you have a cushion to fall | | | | Doing fewer shows for a higher value will give you |
| back on when times are tight. Whatever you do, if | | | | more time to be at home with your family and |
| you want to build your reputation, you need to turn | | | | friends. It will also afford you the time you need to |
| down gigs that could hurt or inhibit your long-term | | | | devote to getting more $5,000 gigs. If you're |
| pricing. As you work your way through the current | | | | constantly traveling and performing, it's difficult to |
| recession, keep the following best practices in mind. | | | | promote and network, which are the exact things |
| 1. Don't change your price; change who you market | | | | you need to do to reach that next level. |
| to. | | | | 5. Be realistic. |
| If your current target market can no longer afford | | | | You have to find that sweet spot where your |
| your fee, offer your services to a new market who | | | | perceived market value intersects with your ability to |
| can afford you. If you are a corporate entertainer, | | | | deliver. Therefore, when setting your fee, don't |
| for example, and your fee is $5,000, that's a lot of | | | | randomly pick an exorbitant price out of the air and |
| money for a company who paid $1,500 for the | | | | stick to it at all costs. Do a reality check. Maybe |
| holiday party entertainer last year. For a company | | | | you're not worth $20,000 a show...at least not yet. |
| that paid $10,000 for their entertainment, however, | | | | Maybe you need better promotional materials. Maybe |
| $5,000 is a steal. If you work fairs, don't waste time | | | | you need a better act. For $20,000 a show, you |
| and money marketing to one- and two-day events. | | | | probably need both! Simply find your "sweet spot," |
| Go for the three-week fairs in Texas, California, and | | | | hold to that minimum, and push it. |
| the massive Calgary Stampede Fair in Canada. These | | | | 6. Grow organically. |
| are the ones with bigger budgets who can afford | | | | Before you become a $20,000 act, you have to do a |
| your fee. Likewise, if you work birthday parties, | | | | lot of shows for $1,000, and then a lot for $2,500, |
| target wealthy neighborhoods. If you work schools, | | | | and then a lot for $5,000, $7,500, $10,000, etc. And |
| target wealthy school districts. Economic pain is | | | | that's the way it should be. In order to handle the |
| relative. So shift your focus to the target markets | | | | audience, the venue, and the pressure to deliver the |
| that consider your current fee a great deal. | | | | value that comes along with a $20,000 price tag, you |
| 2. Just say "no." | | | | will need the years of experience and professional |
| In order to be perceived as a $10,000 entertainer, | | | | development that naturally flow from so many |
| you must turn down the $200 shows. Here's a | | | | shows under your belt and so many years in the |
| common example: An agency you have never | | | | business. You will also need to win the trust of your |
| worked with before offers you a show for $200. | | | | client or event planner before this responsibility is |
| Your normal rate is $2,500 plus travel. For whatever | | | | given to you. Slow and steady is the way to go. |
| reason, you accept the $200 gig. Regardless of what | | | | Push yourself constantly, but enjoy the climb. |
| you said to the agency on the phone ("Okay...but | | | | 7. Know the exceptions. |
| just this one time") or how you justified taking this | | | | Are there exceptions to these rules? Of course. You |
| gig in your head ("My fridge is looking pretty bare") | | | | may choose to reduce your fee for family, friends, a |
| that agency now has you pegged as a $200 act. | | | | good cause, etc. However, here's the best advice: If |
| They're certainly not going to think of you when that | | | | a gig can't pay much and you have personal reasons |
| $5,000 gig comes in. Always remember that when | | | | for taking it, make it a charity show. It's a nice thing |
| you do a successful show at $5,000 you get more | | | | to do, and it looks great too. When people hear that |
| shows for $5000. When you do a successful show at | | | | you "donated your time," they'll think you're a saint. |
| $200 you get more shows for $200. When you do | | | | Even better, you're avoiding all those potential |
| say no, don't avoid the conversation and tell them | | | | misunderstandings and conversations about reducing |
| you're booked on that date. Explain your reasoning. | | | | your fee in the future. Now when someone sees you |
| Remind them that your price is X. It may take | | | | perform at the fundraiser and contacts you for a |
| several gig turn-downs, but eventually the agencies | | | | show, you're starting with a clean slate. Also, if a |
| and bookers will learn that you're serious about your | | | | fundraiser wants to pay you $200 for your act, |
| price. | | | | suggest that they take that money and make a |
| 3. Don't equate dollars to minutes on stage. | | | | donation of $200 to the organization in your name. |
| Many entertainers think they have to lower their | | | | It's a win-win for everyone. |
| price for short performances. They say, "Well, it's | | | | Stay True to Your Value |
| only a 25-minute spot, so I'll do it for half the price." | | | | Performing for cheap doesn't just hurt you financially |
| Yes, it is a 25-minute spot, and you're used to doing | | | | that one time - it hurts for the long-term. Realize that |
| 50 minutes. At first glance, it may appear that you're | | | | clients or agencies who happen to get you for cheap |
| doing half the work, but the show is on a Friday night | | | | one night don't think "Maybe it was just this once" or |
| outside Boise. You're still packing for the show, flying | | | | "Maybe she's trying to get extra money for |
| to Boise, renting a car, doing a sound check, | | | | Christmas shopping." They just think you are cheap, |
| delivering the show, packing up after the show, | | | | and then they tell others about this great cheap act. |
| staying at a hotel overnight, returning the car, flying | | | | Now you're pegged as a cheap entertainer. Granted, |
| back home, and unpacking. That's a full two-days of | | | | not every cheap booking will directly impact your |
| your life, not to mention any prep work you did for | | | | career in immediate ways you can see. These |
| the show in terms of writing, tailoring your material, | | | | patterns develop, however, and you get trapped in |
| supplying promotional materials, preparing contracts, | | | | them. Twenty years later you're doing the same |
| etc. Plus you missed your Friday night date with your | | | | shtick and wondering why you can't get your fee up. |
| wife and your child's soccer game on Saturday | | | | The bottom line: You can't verbally convince |
| morning. | | | | someone they should be privileged to have gotten |
| Remember that in addition to your show, you are | | | | you for a certain dollar amount. Actions speak louder |
| being paid to be away from family and friends and to | | | | than words. If you don't normally perform for that |
| travel. The show is the enjoyable part - or at least it | | | | little, then turn it down. Whatever you do, don't give |
| should be. If it's not, then rethink your career choice. | | | | yourself away. |
| 4. Spend your time more wisely. | | | | |