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Fair Pricing:
Two Key Factors for Sustainability and Competitiveness (Open Access)
Pricing one’s work can feel frustrating at best, icky at worst. How can one possibly attach the intangible value of a musical performance or educational offering to a fixed dollar amount? And one might worry that, after tabulating up all the bundled value on offer, a fair price might be unreasonably high for most consumers. But assuming there is no such thing as a fair price for our work is tantamount to asserting there is no way to earn a fair living in the arts. Not so.
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Quality First:
Embracing the Power of Bundled Value
When building a business, it is so easy to chase quantity. Adding up the number of additional students, gigs or classes you need to take on to hit a target income goal is pretty simple. The hidden problem, though, is that our time is inherently limited. Rather than focusing on the volume of output, we should focus on healthy margins—what you take home after all the costs of doing business are covered.
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In the Spotlight:
The Why, What and How of Diversifying Income
How many times have you been advised “don’t put all your eggs in one basket” or told that “variety is the spice of life?” My tuition fees are part of my overall income “pie,” but other slices include a church position, adjunct collegiate teaching, accompanying and speaking engagements. How many ways can you divide the pie? And why should you?
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In the Spotlight:
Step-by-Step Guide to Launching a Diversified Revenue Stream
Diversifying revenue through coaching or other professional services, such as marketing consulting, website design or social media engagement, creates a sustainable business model for long-term success. Get started with seven proven steps.
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