Pricing Fears & Myths
Lesson 33 from: How to Start a Photography BusinessPye Jirsa
Pricing Fears & Myths
Lesson 33 from: How to Start a Photography BusinessPye Jirsa
Lesson Info
33. Pricing Fears & Myths
Summary (Generated from Transcript)
The topic of the lesson is pricing fears and myths in starting a photography business.
Q&A:
Is there only one right way to price?
No, there are varying degrees of right when it comes to pricing.
What are some common fears related to pricing?
Common fears include thinking that the price is too high, not being able to afford the price oneself, and devaluing oneself because they cannot buy their own product.
Is it necessary to be able to afford the price oneself in order to charge it?
No, it is not necessary to be able to afford the price oneself. One may not be able to afford it now, but they will be able to in the future.
Is it common for employees of luxury brands to be able to afford their own products?
No, it is not common for employees of luxury brands to be able to afford their own products. Just because one cannot afford their own product does not mean they should devalue themselves and their pricing.
Should one have unrealistic expectations about their business based on marketing messages?
No, one should be aware that marketing messages may create unrealistic expectations. Setting unrealistic expectations can lead to disappointment and quitting.
Can one market themselves in a different area if clients in their current area are not willing to pay a certain level of money?
Yes, one can market themselves in a different area and create a different experience to attract clients who will appreciate and pay for that experience.
Can clients be convinced to pay a higher price for a service?
If one believes that clients will not pay a higher price for their service, then they are right. It is important to build value for the service before presenting the price.
What are some areas that people value and are willing to spend luxury type money on?
Some areas that people value and are willing to spend luxury type money on include cars, travel, sunglasses, gear, and food.
Lessons
Class Introduction
13:12 2Common Myths & Unknown Truths
11:42 3The Road Ahead
13:03 4Find Your Passion
06:06 5The Lin & Jirsa Journey
13:54 6Part-time, Full-time, Employed, Partners?
03:51 7Stop Wasting Time & Money
06:07 8Your 12 Week Roadmap
04:33Great Plans Still Fail
06:01 10Strategy Vs. Planning
04:16 11Mind Mapping
07:25 12Select a Focus
14:16 13Competitor Research
09:34 14S.W.O.T. Analysis
13:54 15Strategy & Long Term Goals
03:50 16Values, Vision & Mission
27:49 17Effectively Managing Your Time
15:05 18Artistic Development
07:30 19Create Your Plan
13:12 20What's Your Product
10:51 21Luxury vs Consumer Products & Experiences
11:44 22Quick Break for Econ 101
16:31 23Your Target Market & Brand Message
21:25 24What's in a Name
09:20 25Your Client 'Why'
05:43 26Crafting the Why Experience
24:17 27Document the Client Experience
08:29 28Business Administration Basics
27:03 29Book Keeping Management
06:51 30Create the Logo & Branding
07:04 31Portfolio Design
15:11 32Design Your Services & Packages
18:51 33Pricing Fears & Myths
08:46 34Three Pricing Methods
25:39 35Package Pricing Psychology & Design
06:15 36Psychology of Numbers
07:29 37Pricing Q&A
23:51 38Grass Roots Marketing
09:36 39The Empty Party
07:03 40Friends & Family Test Shoots
16:28 41Join Groups
04:32 42Second Shooting Etiquette
07:44 43The Listing & Classified Hustle
14:10 44Make Instagram Simple
13:55 45Your Automated Pinterest Plan
08:01 46Facebook Because You Must
07:37 47Giveaway & Styled Shoots
12:17 48Content Marketing & SEO
08:12 49The Monster: SEO
07:26 50Selecting Your Keywords
05:45 51Testing Your Keywords
07:53 52Grouping Main & Niche Goals
12:39 53Your Content Road Map
11:47 54Content Marketing Q&A
10:45 55Inspiration to Keep Working
07:45 56How to Craft Your Content
15:03 57Internal Linking Basics
05:30 58Back Link Building Basics
04:55 59Link Value Factos
14:38 60Measuring Link Value
04:24 61Link Building Strategy & Plan
06:10 62Link Building Plan: Vendors & Guest Writing
06:45 63Link Building Plan: Features, Directories, Comments
03:11 64Link Building: Shortcuts & One Simple Tool
14:44 65What is Sales? Show Me!
12:58 66Your First Massive Failure
05:17 67The Sales Process
07:31 68Your Second Massive Failure
05:23 69Understand Buyer Psychology
10:00 70Step 0: Building Rapport & Trust
15:14 71Step 1: Identify Need or Want
15:39 72Cognitive Dissonance
12:01 73Steps 2 & 3: Value Proposition & The Solution
14:21 74Step 4 : Close, Make the Ask
04:32 75Step 5: Follow Up & Resolve Concerns
06:13 76Family Photography Hot Seat
12:06 77Business Example Hot Seat
15:52 78Boudoir Photography Hot Seat
16:09 79The Best Sales Person
07:45 80Your Mindset, Vibrations & Frequency
06:56 81Always Positive, Always Affirming
11:55 82The Second Money & Dual Process
07:39 83Chumming the Price Waters
03:57 84Creating Want or Scarcity
09:54 85Timeless Advice on Being Likable
11:53 86Selling Over The Phone
10:59 87Forbidden Words in Sales
11:40Lesson Info
Pricing Fears & Myths
Pricing, Its methodology and psychology. This is a, this is a good one. So now we are here in creating the product. We're still in that weeks five to eight period under product development where we start finalizing our overall pricing packages, which you're gonna jump into the worksheet six and we'll get to that in a minute. But first, pricing fears and myths. There's only one right way to price. This is just simply incorrect, inaccurate. So I'm gonna say forget that altogether. We're gonna learn how to price and there's gonna be varying like degrees of right and not really wrong just different. How many times have you heard this though? That's too much. I can't charge that. What if I can't afford that? This is you. Okay these are your own fears of that's too much. You mean for you? When you say that's too much, are you saying, Sharon right? Yes. If your client comes but you have the perception that your own price is too much, whose fear is gonna be communicating through that meeti...
ng? My own. Yeah, and it has nothing to do with your clients. And your, this is the crappy part about sales, that this is where sales has to begin with yourself. Because you can't sell when you think something is too much. Or I can't charge that because hey I can't buy what I'm charging. That's gonna be another one of those things that you guys try and overcome. It was one that I faced. I can't afford $4,000. Why would a client ever be pay that? You might not be able to afford yourself right now, but you will. One day you will. And if you ask yourself whether that is right or wrong, let me give you a simple question. Let's go back to Louis Vuitton. We love Louis Vuitton. Not really, I mean I, they do make nice stuff, let's be honest. (audience laughing) How many of their employees do you think can buy their own purses? Raise your hand if you think a Louis Vuitton employee could buy their own purse. Wow. Yet you're gonna devalue yourself constantly because you can't buy your own product, and therefore you're gonna have these preconceptions of therefore I can't sell at that price. Let's start to work on that now. This is what I want you to think. This is the only right when it comes to pricing. At any price, I'm a value for what I offer. Right now my minimum in 2017-2018 is 10, okay. For me and for what I feel I'm bringing to the table, I think it's a good value. For the experience that I offer to my clients and the personal nature, it's a good value. And my clients would agree. Maybe all of you guys are like well your pictures are just marginally better. But that's you guys. That's everybody else. That's a photographer. That's not your clients. Because you could say the exact same thing about the purses or the exact same thing about the Bentley. Is a Bentley six times more valuable than a Mercedes Benz? Do you think they're using components that are six times better? No, maybe 20, 30, 40% better. It's all marginal. It's simply brand perception and the overall experience, and you could say the same thing about purses. They're not using leather made from golden cows at Louis Vuitton. They should be for $6,000 for a freakin purse. (audience laughing) I should get golden cow leather. But you don't. It's the same leather that you get in a Coach bag. This is what's false. Be weary of anybody with a guarantee like this. Take this workshop and you can book $10,000 weddings. No, I'm gonna be straightforward with you. You will book 10,000 weddings, $10,000 weddings. In multiple years over time you will build to that. It will take you time to get there. But whether it comes to SEO, I'm gonna guarantee you on the front page of Google, I'm gonna promise that you're gonna do this right after doing this. Just walk away from all of it. That goes back to our expectations of one of the big reasons you're gonna jump into newborn photography and you're gonna quit. You're gonna jump into shooting maternity, and you're gonna quit. You're gonna jump into families, and you're gonna quit. Because you have this expectation set by social media marketing and all the marketing messages that you're gonna get, and when you jump in and you realize that those expectations are false, you're setting yourself up for a big disappointment and then you just simply drop it. This course can help you to get to $10,000 wedding bookings. That's absolutely right. We will help you. Clients won't pay that in my area. Well freak man, go market in another area. There's plenty of clients out there, and just because you live somewhere, doesn't mean that you're stuck shooting there. Not to mention, I'll probably guarantee that if clients aren't willing to pay that in your area, you probably just aren't getting to the right clients. I will say that there are some areas that just don't have enough clients willing to spend a certain level of money. Doesn't mean you still can't make a good income. It just means that perhaps you market yourself as a destination, travel, adventure or some other photographer. Get out of that market. Market to a different, create a different experience, and then market to people that will appreciate that experience. Oh I love this one. Clients won't pay that for my service. You're absolutely right. Yeah they won't pay that for your service. If you say it, you're right. We all buy luxury in the areas that we value. And I want you to, because I've had so many clients, I had so many photographers in workshops say those words to me, these words. They just won't pay that for my service. You're right. Lee if you came to me and you said that, you're right. Like if that's what you believe, there's nothing I can do to convince you otherwise. So we're gonna, I'm gonna play some tricks on you guys which is gonna be really fun. But these deep set fears, they are real, okay. You look at this and you go, I value myself. I'm good. And it's gonna bite you in the ass. Because you're gonna go into your meeting and you're gonna say things subconsciously that reveal your fears. We talked about this previously. We all buy luxury in the areas we value. We said that you would probably spend $10, on a dream vacation and trip. Well you're also a travel hacker, so, you know how to do everything. (audience laughing) But if it came down to something that you really wanted and it was in the area of travel and adventure, you would spend your money for it. So what are the things that each of you appreciate and would spend? Raise your hand right now and blurt out. Look if you got more than one word, grab the mic. (audience laughing) If you got one word, say it. What is an area that you would spend luxury type money on to have? Car. A car, okay, wonderful. Travel. I love cars. (laughing) What? Sunglasses Angela? Travel. Sunglasses. Sunglasses. (laughing) Sunglasses, travel. Kayak. Kayak, there you go. Gear. Gear, awesome. Food. Food, I love food. I mean these are all areas, and you start identifying going backwards and you're like, man, I spend a lot of money on a lotta stuff. I would, I mean the kayak I probably wouldn't, but everything else that. (audience laughing) I'm just kidding. Does that give you a little more peace and comfort in kind of knowing like, it's okay, we all spend money on things that we value. Because what we're gonna be working on through the rest of this class is building that value for your clients before you present the price.
Class Materials
Bonus Materials with Purchase
Ratings and Reviews
Armstrong Su
This class and materials are to the point and eye-opening on the business side of photography. Pye Jirsa is an amazing and fun teacher as well! Most photographers need more business classes offered to bring us who love to create art back to reality for a more successful business that makes a living on it's own. This course will definately get you started in the right direction and so cheap too! Great investment! armstrong outdoor tv case outdoortvcase Pye Jirsa is one of the best instructors that I have the pleasure to learn from. He and his team have given me so much more than they'll ever realize. Knowledge, wisdom, training, friendship, mentoring, inspiration, joy... I cannot thank Pye enough for changing my life for the better. I owe them more than they'll ever realize. Thank you, Pye Jirsa!!!
Angela Sanchez
This class has been an eye opener for me; a point of change in my vision as photographer. Pye is and AMAZING, INSPIRING, GENEROUS instructor, with an, authentic desire to help people and to share with them the best of his knowledge. I will not have enough words to say thanks to Pye Jirsa, as a teacher and as a human being, and thanks to Creative Live who allows us to benefit from the experience of such a knowledgeable, educated, well-versed photographer and instructor. 1000% recommended!
Yenith LianTy
Been following this guy forever. Pye Jirsa may be well known in the wedding & portrait photography world and if there is something that this guy knows it is how to create a business, a sustainable one. The workbook he provided is comprehensive, and I honestly wish I had this when I first started out as a photographer! I love that he talks about his failures, keeping it real and honest for anyone starting out. He is definitely one of the best instructors around, super humble, down to earth and with a sense of humor to boot. The course is worth it! THE WORKBOOK is AMAZING! SUPER DETAILED!