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Mindpro
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Pricing is an area where many performers simply create a price based on their own feelings, beliefs and perspectives. Yes, this is one way, but is missing many key elements and factors pertaining to your business and market. Others set their prices based on others. Some on actual value (which can be subjective.)

I too have a system that I use and teach that is based on a multi-point formula of foundational choices, decisions, value and market definites. When approached properly it makes pricing quite easy and stress-free for most. Sometimes it creates your pricing automatically with little effort at all.

While I'm not sure what your brothers system is or was (I'm sure it's not mine) I agree it should not be random or willy-nilly but established from a systematic formula or set of elements. Once determined it allows you to focus on other areas without the need to constantly worry about your price points, others pricing in your area or market, or other elements uncontrollable by you or your clients.

Often you'll see performers that have silly pricing all over the road - base price, then a price for mileage or travel based on how many miles the gig is from them as the client within 15 minutes pays differently than the client from 30 minutes away, etc. Then they have one set of pricing for one performance market and another for other performance markets. Some have weekday prices or off-prime, others have weekend or prime pricing, and I have even seen performers set their prices based on the month of the year - December (because of holiday parties) is prime or higher priced, yet February is much less expensive (does your value change based on the month? lol). It is crazy to think of and even crazier for prospective clients to have to figure out. If they have to bust out a calculator, recall percentages and Mapquest travel distances, these are all negatives and discouraging things to clients. I know some here will have issue with this, but I see this most with kids performers. It's true. It doesn't have to be so complicated. Know who you are, know your markets, know and establish your value and price accordingly.

This can be a difference when operating as a business vs. just as a hobby, for fun or some extra cash. Margins, ratios, overhead, expense, ROI and other factors can and may come into play when operating as even a part-time business. It must also serve to evolve your business plan and goals (that you do have, good for you) as well as your business model of choice and business operational system if you have one.

Do your prices have to change or be different from when performing with your brother or is this completely different?
cafecheckers
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On Aug 8, 2016, Mindpro wrote:
Do your prices have to change or be different from when performing with your brother or is this completely different?

First - thanks for such outstanding insights on pricing. We have made some of the mistakes and misperceptions you mentioned.

When we moved to solo shows (my brother also performs solo shows) our pricing did not change. There was no reason to compare our pricing to what we charged as a duo, because that show was no longer available. We did continue to offer our duo show to higher end performance markets on a "as available" basis. Now, those clients will be offered my show at the same price. The reality is, that due to experience, I am able to offer at least as great of entertainment value as the two of us were together just a short while ago.

Do you offer your pricing system as a product for sale? If not, are you considering it?
Mindpro
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On Aug 8, 2016, Cafécheckers wrote:
Do you offer your pricing system as a product for sale? If not, are you considering it?


It is currently a component as part of my business operational system and not currently available on it's own. It's only available to coaching students of mine and those who have licensed my performances/presentations. Of all my products, resources and tools I have available I have only released three so far to this community. This is not part of any of them.

It is a module in the complete foundational process of my system. It is also (in part) part of some of my live workshops, lectures and seminars but unavailable outside of these resources.

The way it is designed is to be part of a more encompassing system and core process, so I doubt I would release it on it's own.
Tim Friday
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The best resource I have found on pricing is "No BS Price Strategy" by Dan Kennedy. He covers all possible price strategies and keeps it simple. Here is a link to the book https://www.amazon.com/No-B-S-Price-Stra......+pricing
cafecheckers
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On Aug 11, 2016, Tim Friday wrote:
The best resource I have found on pricing is "No BS Price Strategy" by Dan Kennedy. He covers all possible price strategies and keeps it simple. Here is a link to the book https://www.amazon.com/No-B-S-Price-Stra......+pricing


Thanks for the suggestion. Is there particular aspects or reasons you liked it? Would this be a good book for general understanding of how retail pricing works, and need to be refined for my/entertainers needs?
Mindpro
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Yes, absolutely. In my discussions with Dan he has stated the same thing. Dan came to me when he first released this book years ago and while he offers some good general info and approaches, he himself has said it needs to be adapted for live entertainment or other specific applications.
cafecheckers
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On Aug 8, 2016, Dannydoyle wrote:
Send me a PM and I can tell you a story of how I quoted a show so badly I actually paid to do a show in Eugene Oregon.

Unlike most of what you read in the magic books and courses and here I have actually made some big mistakes.


PM sent. Thanks!
Tim Friday
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On Aug 12, 2016, Mindpro wrote:
Yes, absolutely. In my discussions with Dan he has stated the same thing. Dan came to me when he first released this book years ago and while he offers some good general info and approaches, he himself has said it needs to be adapted for live entertainment or other specific applications.


Mindpro, am I reading and understanding this correctly, are you saying you know Dan Kennedy?
Mindpro
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Yes, I just stated that in my last post. Yes, since 1993 or 94. It's funny that you mentioned and suggested him because we are often compared in our way of thinking and direct approach of dealing in the reality and calling it like it is form an industry perspective, rather than just our own. He too tends to explain and elaborate on many of the reasons NOT to do many things or methods or why not to do some of the things in the popular way many do. He does this in many of his No B.S. releases.

Yes, I worked with and assisted many of today's well-known experts and icons in the early days of their careers ranging from Suze Ormon (when she was still a waitress), Robert Kiyosaki (Rich Dad, Poor Dad), Jack Canfield (Chicken Soup For The Soul), Debbi Fields, Don LaPre, Brad Richdale, Ernie Kessler and so many others. As I've said before, this is a space I am well familiar and experienced with and have been part of for decades. You must remember, I had products out long before most of these guys (and gals) and was happy to help them in launching their careers. I go back to the days of Melvin Powers and Joe Girard if you know who these masters are. Man, I could tell you stories from when all of this "info boom" started in the 80's and early 90's.
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