Tonya answers a question from a listener in this episode relating to pricing your first offering and how mindset has a lot to do with how your price yourself and your offerings.
Do you have the same question about how you should price your offerings? Listen now for some great tips!
IN THIS EPISODE
0:17 Are you ready for some Q & A today? I had a listener send in a question today and it felt wrong to not share it with you because it was SO good. The question is about creating your offer and it had so many mindset issues in it that I had to bullet point each thought.
1:36 You can do this and you can start making money doing something you love in your business.
1:46 Her question is: I’m not sure how to structure my offering. My main thing is that I love recording music, but when I think of “selling” my music, I think of being forced to go on tour to make money (ugghh!) Having to give away all my songs (or they get pirated) or charging like $5000 per song which I am not sure why someone would pay that especially since I am not a custom songwriter or a wedding songwriter. Also, when I gave followers a survey they said they wanted to collab with me (um..not interested!) The songs pick me and I just fulfill the calling. Not sure how to price and package or even how to offer. I am learning how to market myself but am unsure what to charge except for merchandise which would require tons of work and drop shipping web design etc. How can I think differently about this? Thanks!
2:46 Let’s break this down. One of the first things in here is the word “forced” to go on tour. Anything that’s going to cause you to feel forced will take away your freedom. If you’re feeling forced in your business, that is a red flag that something needs to be reevaluated and you need to restructure something.
4:05 You put “selling” in quotes. The ideas of selling feels icky and slimy to you. You haven’t come to grips with the fact that buying and selling is an energetic exchange. You will happily spend money on something else, not music since that’s what you do, but you’re willing to pay for something. Well someone else will get that same joy and pleasure out of paying for your music. There is a result that someone desires and these results are always emotional. People want things because of the way they make them feel. If this is new for you, pay attention, do you have a car you love? How did that make you feel to drive away from the dealership with that car? What is the last thing you bought that really lit you up? Those responses are what someone else gets when they buy your music. When you think about robbing them of that feeling when they buy your music.
6:49 You worry about someone stealing your music. News flash – there will always be someone out there who will steal your stuff. I have it happen all the time but I’ve learned to flip the switch and take that as a compliment. You can take confidence in the fact that people are copying you and you are ahead of them and you’ve created things they are waiting to copy. You are operating from a scarcity mindset when you don’t create something because someone might steal your music. Allowing yourself to release that negativity and focusing on the ones who are buying your stuff and are waiting, ready to buy what you have to offer. There will be a day when you are able to hire people to take care of the copy cats.
9:16 Let’s talk about the price point aspect of this question. I’d love to tell you there is a magic formula, but there’s not. What there is instead, is a confidence in the price you pick. Think about what you need to make to survive, the love and effort that you’ve put into your music. I’m sure you’ve looked at the process of getting royalties from a song and it’s not cheap or easy. If there is someone who has money and wants to have custom music to use for their podcast or to march out onto the stage. At the end of the day, a $5,000 song is way more cost effective than paying royalties every time you use a song. Especially if you’re marketing your music to the right audience.
11:33 If you identify your ideal customer avatar, you know what keeps them up at night, what their emotions are and you are able to speak to that with the right type of music, even with charging $5,000 will be okay to them.
12:21 When you say, “I am not a custom songwriter or a wedding music writer”. Who you were in the past does not dictate who you are in the future. You are able to choose what you are capable of in the future. I want you to start saying to yourself that you are a songwriter. If that’s too much for you, start saying you are choosing to be a custom songwriter. Identify who you are. Write it everywhere and start saying mantras to yourself. Anything you want to be, you can be, you have to believe it first.
14:28 You aren’t interested in collaborations. That’s what your current audience wants, so maybe you can start there. People, if they want to collaborate with you, want your creativity, and get in that zone. Collaborations could be coaching, checking their work or helping to teach others on their creativity. You could mentor them for a fee. Make a list of all the things you’re really, really amazing at and ask your audience if they struggle with those things. If your zone of genius matches their struggles, then you can make money doing that.
17:15 Merchandise – if that’s something you are not interested in because of the amount of work, you can stick a pin in it and ask for help later on down the road. You can work with someone to have them build your website, handle the drop shipping and the inventory.
18:30 All these things you want to do, you can do them and they all have a place in your life. As entrepreneurs, we often have squirrel syndrome of what we need to get done. It’s all doable, think about how you can start applying these mindset offers to your business and you can make money and everyone wins!
If you want to leave a question for Tonya, you can leave her a voice mail or send her an email at firstname.lastname@example.org
- Tonya answers a listener’s question during the podcast.
- You can do this and you can start making money doing something you love in your business.
- You haven’t come to grips with the fact that buying and selling is an energetic exchange.
- There will always be someone out there who will steal your stuff.
- I’d love to tell you there is a magic formula to price your offerings, but there’s not.
- You could create mentoring options for your audience for a fee.
- It’s all doable, think about how you can start applying these mindset offers to your business and you can make money and everyone wins!
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