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Listen "016 – You’re Paid What You’re Worth"
Episode Synopsis
Many of us like to think we’re worth more than we’re being paid. This may be true. But in our current profession, it may not be possible to earn more. Which can only mean one thing – the only way to increase your artistic income is by shifting your mindset.
In this episode of Creativity Excitement Emotion, David shares how to break out of the income box you’re stuck in.
Sponsors:
Clean Slate: The most exciting and inspirational New Year live music and multi-media event you’ve ever been to. Get your tickets now, before they’re gone!
Highlights:
00:17 – Facing the cold, hard facts
03:22 – Confronting the truth
04:12 – The value that different businesses provide
06:35 – What artists can learn from other industries
08:16 – Finding a music career model that works
Transcript:
You are paid what you're worth. Sometimes this is difficult to accept, especially when you feel like the effort that you're putting in is not proportionate to the payment you're receiving for it.
So, let's look at this. What's the problem? And why do we need to accept that you are paid what you're worth?
Well, firstly, we sometimes need to come face to face with hard realities to be able to progress beyond where we are.
We sometimes need to come face to face with hard realities to be able to progress beyond where we are.Share on X
I've had to do this myself. I don't like looking at the fact that or thinking about the idea that what I'm paid right now by some of my clients is what I'm worth. Because they dictate many of the terms.
I remember hearing that Joe Vitale got paid something like $6 per word. That's insane. Maybe I'm not at Joe Vitale level. I certainly don't have his notoriety.
But I would not say, especially based on the amount of work that I put into writing, I have seven books and three best-sellers out of that… That my value would be equivalent to, let's say a beginner freelance writer.
Five, six, or seven cents per word is totally acceptable for a beginner writer. But as you gain experience, it's got to start to go up, right? Based on the value that you're able to generate for others.
I would not say that my value is any less than 20 cents. I would even say that a dollar per word wouldn't be totally out of the question for someone like me because a lot of people have told me that not only do they appreciate my writing, but they think it's great and they very much resonate with it.
That tells you something because technically, yeah, anybody can write, but writing something people appreciate, enjoy, and resonate with is an entirely different proposition.
Let's say a client is paying me about four grand per month for the content I'm generating for them. Well, if it was four grand per month for three hours of work, I'd say that's extraordinary.
But four grand for 30 hours of work? Well, how much time and energy am I realistically left with? After 30 hours per month of work, not a lot.
Maybe I could put in 10 hours, right? Or maybe I could put in an additional 20 or 30 hours if I was hustling and grinding.
Meanwhile, I'm thinking to myself, “That four grand per month, I'm worth so much more than that.”
At the same time, I realize I can't argue with reality. In an argument between you and reality, reality always wins.
So, facing the idea that I'm worth four grand per month, or whatever I'm being paid in total combined between all my clients, but just for this example, we'll say four grand per month because that's just easier to understand, brings me to the point of going, “Huh. Maybe in this current position or what I'm currently providing to my clients is worth that and may only ever be worth that.”
Why would I want to face that harsh truth? Because it would allow me to take that feedback and go, “I need to adjust course. I need to figure out something else that's going to be of greater value to my clients such that I can be paid more for it.”
In this episode of Creativity Excitement Emotion, David shares how to break out of the income box you’re stuck in.
Sponsors:
Clean Slate: The most exciting and inspirational New Year live music and multi-media event you’ve ever been to. Get your tickets now, before they’re gone!
Highlights:
00:17 – Facing the cold, hard facts
03:22 – Confronting the truth
04:12 – The value that different businesses provide
06:35 – What artists can learn from other industries
08:16 – Finding a music career model that works
Transcript:
You are paid what you're worth. Sometimes this is difficult to accept, especially when you feel like the effort that you're putting in is not proportionate to the payment you're receiving for it.
So, let's look at this. What's the problem? And why do we need to accept that you are paid what you're worth?
Well, firstly, we sometimes need to come face to face with hard realities to be able to progress beyond where we are.
We sometimes need to come face to face with hard realities to be able to progress beyond where we are.Share on X
I've had to do this myself. I don't like looking at the fact that or thinking about the idea that what I'm paid right now by some of my clients is what I'm worth. Because they dictate many of the terms.
I remember hearing that Joe Vitale got paid something like $6 per word. That's insane. Maybe I'm not at Joe Vitale level. I certainly don't have his notoriety.
But I would not say, especially based on the amount of work that I put into writing, I have seven books and three best-sellers out of that… That my value would be equivalent to, let's say a beginner freelance writer.
Five, six, or seven cents per word is totally acceptable for a beginner writer. But as you gain experience, it's got to start to go up, right? Based on the value that you're able to generate for others.
I would not say that my value is any less than 20 cents. I would even say that a dollar per word wouldn't be totally out of the question for someone like me because a lot of people have told me that not only do they appreciate my writing, but they think it's great and they very much resonate with it.
That tells you something because technically, yeah, anybody can write, but writing something people appreciate, enjoy, and resonate with is an entirely different proposition.
Let's say a client is paying me about four grand per month for the content I'm generating for them. Well, if it was four grand per month for three hours of work, I'd say that's extraordinary.
But four grand for 30 hours of work? Well, how much time and energy am I realistically left with? After 30 hours per month of work, not a lot.
Maybe I could put in 10 hours, right? Or maybe I could put in an additional 20 or 30 hours if I was hustling and grinding.
Meanwhile, I'm thinking to myself, “That four grand per month, I'm worth so much more than that.”
At the same time, I realize I can't argue with reality. In an argument between you and reality, reality always wins.
So, facing the idea that I'm worth four grand per month, or whatever I'm being paid in total combined between all my clients, but just for this example, we'll say four grand per month because that's just easier to understand, brings me to the point of going, “Huh. Maybe in this current position or what I'm currently providing to my clients is worth that and may only ever be worth that.”
Why would I want to face that harsh truth? Because it would allow me to take that feedback and go, “I need to adjust course. I need to figure out something else that's going to be of greater value to my clients such that I can be paid more for it.”
In God we trust