Now I know it sounds harsh, but let’s be honest. Everyone wants to be an entrepreneur but how are you going to do so if you’re always giving discounts or giving away free merchandise?! I never got into the fashion world to become rich. Starting out I didn’t even think it was possible! What I finally realized that people are paying for your time and that shit is valuable! That’s one thing that’s spent and you can’t get it back.
We’re in a time where people want your service but they either want it for a discount or for the free! If your close friend or family member is running a business, why wouldn’t you want to support them? Take everything a business owner have to pay for into consideration; shipping, gas, packaging, printer, paper, web hosting, etc. Start up businesses can’t afford discounts and freebies in the beginning.
I’m not saying don’t do freebies or discounts. When I give out merchandise or a service for free I have to think if it’s going to benefit my business marketing wise. Is this person going to spread the word, are they going to tag me on social media, and are they my ideal customer?
Next! I had to learn about the magic of deposits! There have been times where I’ve shown up to a shoot, did a service, and that person never paid me. Not even half! You live and you learn right…
Contracts! I’m still working on having good language in my contracts. Right now I’m seeking a legal counsel to help me with this. In this business, merchandise is sometimes very expensive and I don’t want to be responsible for damaged items if it’s the client's fault. You break, you buy!
If you’re charging, make sure you’re doing the work people compensate for what you charge! It’s one thing setting a high price but you have to be able to give them your quality and best work.
I’m not going to lie I’m still a working progress. Money is a sensitive subject but if you don’t speak up, you won’t get paid! With that being said! Go get that paper boo boo!
JL
- 9:15 AM
- 2 Comments
