Aim High!

[chemikool]

Last night I wrapped up the details of a private party and I'm really getting the feeling that I low-balled myself. When it came to the compensation, I threw out a number that was higher than normal but reasonable.

 

Without hesitation, my prospective client jumped on it. And I mean JUMPED ON IT.

 

I figured there would be some dickering and haggling...but nope. Immediate acceptance with glee. This is leading me to believe that I could have and maybe should have asked for a lot more.

 

----- My questions:

(1) What can I (and all of us here) do to prevent "low-balling" yourself when a bigger fish is on the line?

(2) What do you do in your booking to ensure fair compensation?

(3) Should I even be concerned with fair compensation?

[Vito Corleone]

Age old question.

 

Nothing's worse than when they jump at your price so quick that you KNOW you could have asked for more and gotten it...except...

 

...when you overbid the gig and never even get a call back to be able to say "well, I COULD do it for a bit less, I suppose...."

 

You need to have a good idea of what you're worth in the marketplace going in and stick to that price pretty much regardless. If you COULD have gotten a lot more on some ocassions? Just brush that off by realizing what you gave them was a FAIR price for your services. You don't really want to rip off people just because you CAN. And if it's happening often? Then you're probably asking too little and need to raise your fee.

 

We go into negotiations trying to get an idea of "what's your budget for this event?" first. And there have been sometimes when they have come in really high and we've said we'll do it for much less. Because that's all we feel we're worth at this point.

[the_big_e]

This applies to pretty much anything where you are selling something, be it a commodity or a service but you have to know your market. Of course getting to that point is easier said than done in a lot of cases but basically you have to understand what your competition is selling comparable services for, even if that means phoning them up and pretending to be prospective client in order to find out. Other ways are the usual trawling of ads and online booking sites etc. Oh, and asking on here but I think a lot will depend on the area as well so while someone on here may say they get x $ for a gig of a certain type that may well be well off what you could ask for in a different part of the country.

On the 'fair compensation topic. You asked for more than your normal rate and got it, how much 'fairer' do you want to be. Possibly you are selling yourself low overall and need to increase everything to a more realistic rate. Could you have asked for more? Maybe, but that's for next time isn't it. Again, it all comes down to knowing your market I think.

[Potts]

Yeah that sucks when that happens. Sometimes we want the gig so bad we short change ourselves. I play a lot and prefer it that way. I would rather get paid fairly every gig instead of trying to get rich on a few gigs. This way my prices are reasonable and my calender in always full. I'm in Buffalo, NY and I charge about $300 for a 3 hour acoustic solo gig. People are always saying I could get more but I seem to get a lot of return business every year so I'm happy.

 

 

edit: This is for a 3 hour solo acoustic PRIVATE party

[daddymack]

Best suggestion: (and sneaky as hell) Go get bids for similar gigs from your local competition...pretend you (use a psudonym) are throwing an 'affair', and get bids. This will do several things...it will tell you what they think they can get, and it will send a message to them they are asking too much when you don't call back

[pogo97]

Best suggestion: (and sneaky as hell) Go get bids for similar gigs from your local competition...pretend you (use a psudonym) are throwing an 'affair', and get bids. This will do several things...it will tell you what they think they can get, and it will send a message to them they are asking too much when you don't call back

 

you're one of them captalists aren't you? Driving aroun' in your fast cars.

 

[video=youtube;Oww8HXLsxDw]

[nchangin]

 

Age old question. Nothing's worse than when they jump at your price so quick that you KNOW you could have asked for more and gotten it...except... ...when you overbid the gig and never even get a call back to be able to say "well, I COULD do it for a bit less, I suppose...." You need to have a good idea of what you're worth in the marketplace going in and stick to that price pretty much regardless. If you COULD have gotten a lot more on some ocassions? Just brush that off by realizing what you gave them was a FAIR price for your services. You don't really want to rip off people just because you CAN. And if it's happening often? Then you're probably asking too little and need to raise your fee. We go into negotiations trying to get an idea of "what's your budget for this event?" first. And there have been sometimes when they have come in really high and we've said we'll do it for much less. Because that's all we feel we're worth at this point.

 

 

I use the last line David just said if I don't get an offer or if no financial discussion is brought up after I ask as many questions as I can about the small details, i.e., timing, venue, location access for equip, parking, etc.

 

And yes I have done the same as you, they ask you the $ for services and there is no question, done deal. arrrrggggh so go high!

[Telecruiser]

Nothing's worse than when they jump at your price so quick that you KNOW you could have asked for more and gotten it...

 

I respectfully disagree. If you have done your due diligence in pricing everything who cares if the "jump on it" right off? I have the attitude that that if they take it it right off then fine and if they don't then fine again. I try to keep the greed element out of it. Just me.

[Bob Dey]

It's easier to go down in price after giving your quote than going up IMHO. When I quote someone a price I usually say "does that sound reasonable"? If they were expecting a much lower price then there's nowhere to go. But if they wanna haggle over a small percentage it's negotiation time.

 

If you do want to feel someone out before giving your price, ask a few qualifying questions. Q: Where will the party be? A1: Our house, A2: The Ritz Hotel. Q: How many guest do you expect? A1: About 30 friends, A2: 300.

 

Those two questions alone will give you an idea of their budget. 300 guests at the Ritz hotel shows that they are already spending big bucks. A backyard party with 30 friends indicates they want you cheap or maybe free. Where they live, where they're from, where they work are other good things to find out if possible. Of course this is generalizing and may be way off. I tend to give the same basic price but will ask for more if more driving is involved.

 

I had someone a couple of years ago trying to get me to do their party at their house on the lake for about $100 less than my regular asking price - plus it was short notice. I was enticed with free food and exposure (to 30 people)! That conversation ended with them getting no entertainment for their party.

[daddymack]

Capitalist? Lord, no, I'm an anarchist...that is why I make rubber body parts for a living...

but Ialso do a lot of buying of things, and the first rule is: shop around, compare value, and then buy....so the reverse would be true as well: find out who the competition is, compare your wares and prices, then sell... standard market strategy.

[Telecruiser]

 

When I quote someone a price I usually say "does that sound reasonable"?

 

 

I never ask that question. It means that you think you may be high. I always say to look it over and if they have any questions to give me a call. I also make sure to explain in some detail what they are getting for their money. I tell them I will be there in plenty of time and setup and ready to go to start on time as agreed. I also tell them what equipment I will bring etc. etc.. Accentuate the positives and the price will be secondary.

[herbie d]

I know what others charge in the places I play. If I don't know, I call up the band and ask em! I like to know the number thats in the owners head when I'm talking to them. I pay the people that play with me the same amount for most every gig. Sometimes, but not often, they make more than me. Most of the time, I do a little better.

On the other hand I know what I "need" to play in a club, and usually book it in that range, no matter what others are getting paid. What I don't need is, " why do you charge me this much when you charge the other guy that much?"

 

I mostly play on the East Coast, the rule of thumb I use for Clubs is: If they serve food and alcohol, but charge no cover, they should be able to cover $5.00 a head. If I'm playing to a crowd of two hundred, thats $1000.00 bucks. If I'm playing for less than that, I hit em up for a raize. If I'm getting paid more than that, I keep my mouth shut. If the Club cannot hold enough people to pay what I feel I need, I don't book it. (I do play a place in my home town for way under what I usually get, but it's in my home town, my guys love playing there, and they feed and water us, and they have plenty of good-lookin' girls)

[Bob Dey]

 

I never ask that question. It means that you think you may be high. I always say to look it over and if they have any questions to give me a call. I also make sure to explain in some detail what they are getting for their money. I tell them I will be there in plenty of time and setup and ready to go to start on time as agreed. I also tell them what equipment I will bring etc. etc.. Accentuate the positives and the price will be secondary.

 

 

I never used to either, but I've had prospects balk at my price in the past. I only ask when there is an uncomfortable period of silence after telling my price. It seems since doing this I get more gigs. I know there are some DJs, KJs and other solo acts that work for less, and some prospects are used to dealing with lowballers. Lately I've also just come out and asked what number they had in mind. Sometimes the number they were thinking is exactly what I would ask for.

 

I believe it boils down to how bad one needs the money and how full one's calendar is. After going for months without a gig, most will play for less just to get back in the game. but If you've been booked solid for quite a while it may be time to consider raising your rates. The last couple of years haven't been very good for me, but this year is doing much better so far.