WHY DISCOUNTS ARE BAD FOR THE WEDDING AND EVENT PLANNING BUSINESS
June 30, 2011
A very common mistake among artists is to undercut our value. I understand the instinct, and I think it’s largely driven by fear. We’re afraid clients will balk at high prices. But if you don’t charge what you are worth, you are disrespecting yourself and your work.
Our clients should also understand where their money is going and why. It’s not unreasonable for clients to ask for a written estimate of our designs and services. I understand this impulse: when I go to the doctor, for example, my first question is almost aways, “How much?”
A potential client once showed me another vendor’s proposal. This client said to me, “If you can give me exactly what this vendor is offering but for 10% less, the job is yours.” I was shocked and replied, “With all due respect, I simply can’t do that.” And truly, I couldn’t do it, because the other vendor’s prices were already amazingly low compared to market value.
This practice is wrong on so many levels. That client was asking me to sell my creativity, a passion that’s very dear to my heart, for next to nothing. But what really upsets me is that there are vendors who are encouraging this kind of behavior!
My advice to everyone, but especially to beginners who are just starting out in the wedding and event planning industry, is to never sell your work and your services at a discount. Even if you’re having a hard time securing clients, resist the urge to lower your prices. Please understand that if you price your work at bargain basement prices, you’re never going to get out of the basement.
The bottom line is that we need to respect what we do. We also need to trust and believe that the universe is a very generous place. As long as we keep honoring ourselves and our creativity by charging exactly what we’re worth, the universe will respond in kind.
Dear Readers, what is your opinion? Please share.