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David Parrish
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David Parrish's Discussions

How to Price Your Work

Started Jun 30, 2013

Ideas are not enough!
1 Reply

Started this discussion. Last reply by Peter Ongera May 23, 2013.

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The Curve: from Free to Superfans

Download and read the free eBook '10 Ways to Make Money in a FREE World' from Nicholas Lovell, author of The Curve. "The heart of the Curve is to enable those who love what you do to spend lots of money on things they truly value."

How to Price Your Work

Pricing policy has both immediate and long-term consequences on a creative business and has an impact not only on the economics of the enterprise but also on the perception of its products and/or services. Prices can be derived from costs and this is a useful exercise to do, though it’s not the only way to decide how much to charge. All the direct costs must be included of course, including the cost of labour. More difficult to calculate is a proportion of the indirect costs that should be allocated to products and services - in other words, how much should the sale of each item contribute to the overheads of the business? There is no exact way to do this but there are conventions of management accountancy, which can help. Whatever method you use, income from sales must be sufficient to cover both the direct and indirect costs of producing goods or services.

Ideas are not enough!

One of the points I make in my training workshop 'How to Make Money While You Sleep' is that 'Ideas Don't Make You Rich". I quote multimillionaire Felix Dennis, publisher and poet, who wrote in his book 'How to Get Rich': "Ideas don't make you rich, the correct execution of ideas does." In other words, ideas are necessary but not sufficient. My workshop is about intellectual property, its creatiion, protection and commercialisation. In terms of intellectual property rights, you cannot protect an idea, only its expression in a tangible format. These intellectual property rights can then be sold or often even better) licensed or 'rented' to make money while you sleep. My article about Guilherme Marconi, 'Don't Sell It; Rent It' is one example of this. However, what's crucial, is a feasible business model, in other words a system for turning a great idea into the generation of profit. This system can also be called a Profit Model, a Revenue Strategy or other name. And it's this that is the hard part! It involves creating your own 'Business Formula', developed into a workable strategy, plus lots of hard work, resilience, and luck. This is the hard part!

Crowdfunding - more info and inspiration

Whilst working with the creative and digital businesses in New Zealand, I had the pleasure of meeting digital media guru Helen Baxter of Mohawk Media in Wellington's creative quarter. Helen has written about crowd-funding for Generator on The Big Idea, the home of New Zealand's creative community. Written from a NZ angle, the articles provide additional information and inspiration for creative entrepreneurs everywhere. On the page 'Attracting a Crowd', Helen Baxter says of crowdfunding, “Without a good promotional strategy across old and new media to back up your campaign, it’s like putting a poster on your bedroom wall and hoping the world will see it.” Related articles explain more about Planning, Platforms and Performing. Platforms mentioned include New Zealand's own Pledge Me, Australia's Pozible, as well as internationally renowned KickStarter, Rocket Hub and Indiegogo. The advantages and disadvantages of various crowdfunding platforms are set out clearly in a table on the Platforms page. As well as a wealth of information on this Generator site, there are links to David Branin's Crowdfunding Cheat Sheet and a free eBook: The Crowdfunding Bible On Campaigns That Succeeded & Those That Failed. ---

Paul Smith talks business

Here's a fascinating interview with fashion design guru Paul Smith, who talks about many aspects of growing a creative business, including: - How he succeeds by saying no to many potential clients, choosing only those projects which fit his brand and excite his creativity. He has (politely) rejected the opportunity to design 3 hotels, 5 mobile phones and 2 cars - and that's just in the last year! - How he manages his company's finances and business growth in such a way that he can be selective. He avoids the pressure to constantly grow. Crucially, he manages cash flow carefully so that he has never needed to borrow money from a bank. - How he became 'big in Japan' by being respectful of Japanese people and culture (when others were being brash), and took his time to build solid business relationships.
 

David Parrish. Business Adviser for Creative Entrepreneurs

Profile Information

Creative Speciality (eg Designer, Photographer)
Creative Industries Entrepreneur and Business Adviser. T-Shirts and Suits Ltd.
Briefly describe your creative business - or your interest in creative businesses
Creative Entrepreneur :: Business Adviser for Creative People :: Creative Industries Consultant :: Trainer :: Speaker :: Writer
Tell us more about your creative business...
I am a business adviser, management consultant and trainer working internationally to help creative businesses and cultural enterprises become even more successful.
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I have a background in setting up and running creative enterprises and still invest in creative businesses as an entrepreneur. After learning lots from practical experience I went to business school to learn more, then adapted smart business techniques to the needs of creative enterprises.
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I wrote the book 'T-Shirts and Suits: A Guide to the Business of Creativity'.
It's available free online as an eBook:
http://www.tss-ebook.com
And it has been published in China, Taiwan, Colombia, Lithuania, Thailand and Spain as well as in the UK:
http://www.tss-translations.com
---
I specialise in helping creative businesses and cultural enterprises with business development, business plans, innovation, marketing, intellectual property, raising finance, business growth, collaborations and innovation.
Your website address - if you have one
http://www.davidparrish.com
Information, ideas and contacts you'd like, to help you become even more successful in your creative business
I want to hear from creative enterprises using smart business thinking that we can share internationally. Please contact me with examples of clever marketing, use of intellectual property to protect and commercialise your ideas, organisational structures that help you succeed, and other ways you have made your creative enterprise even more successful by using smart business techniques.
What Seth Godin says about Your Profile Picture

http://sethgodin.typepad.com/seths_blog/2009/04/the-power-of-a-tiny-picture-how-to-improve-your-social-network-brand.html

David

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Free eBook version of 'T-Shirts and Suits: A Guide to the Business of Creativity'

The book 'T-Shirts and Suits: A Guide to the Business of Creativity' is also available online as a free eBook. It's the complete version and you are allowed to copy it, print it, redistribute it (including adding it as a resource to your own website), provided you don't change it or sell it.



It's a book written especially for creative industry practitioners, creative entrepreneurs, creative businesses, cultural organisations, artists, photographers, designers, musicians, marketing… Continue

Posted on February 13, 2009 at 13:28

Free online 'Creative, Cultural and Digital Industries Guide'

Free Creative Industries Guide now available online:
www.creativeindustriesguide.com

Posted on February 8, 2009 at 20:30

Comment Wall (50 comments)

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At 18:50 on November 28, 2011, phil constable said…

hi David, thanks the friend invite. i asked you about making a discussion regarding a name for my company a while ago. at last have made a discussion and went with my own name. have a look at my new revamped site if you get chance www.philconstable.co.uk.

loving the work your doing David i recommend everyone to Suits and T-shirts. would like to come to another talk soon you do defiantly motivate me.

thanks again

phil constable

At 10:48 on June 16, 2011, NICK OLDHAM said…

Hi David

Have just , through Julie Hamer, joined the Suits and Tshirts network..

Id just like to say what an excellent, exciting and refreshing idea the community is..thank you!

I have also urged my 2 sons, one an Architect Grad and the other a Creative Writer to join as Im sure it will help their career prospects in the Creative industry..

Cheers

Nick Oldham

At 11:22 on June 14, 2011, kevin walsh said…
hi David, im Kevin , i dont know if its your *thing* , but ive just wrote 8 kids books and i was wondering whether you knew any artists who would be interested in illustrating them ? ( i CAN'T DRAW TO SAVE MY LIFE !)  But I have a good idea what I want and i am open to ideas, they can come on board, for a percentage or for a commission,  work i do like is Nick Sharrett.
At 11:44 on March 4, 2011, Julie Ann Hamer said…

Thanks for the invite and I am looking forward to having a positive creative experience with you.  I am just about to read your book!

 

Julie

Jahama

At 8:45 on March 4, 2011, Derek Thompson said…
Thanks David, I'm enjoying your ebook - lots to think about!
At 20:37 on February 9, 2011, Council Royalty Clothing said…

Thank you for the invite.

 

Im just about to read your book once again for more motivation!

 

Cheers

 

At 14:40 on November 30, 2010, Jack 'Xij' Oughton said…
Hi David

I read your book a while back, and remember it being rather valuable as it made me think about some important things. Looking forward to meeting you one day soon!

Thanks
At 12:32 on November 23, 2010, Gretta Carol Ellis said…
Hi David

Just joined T-shirts & Suits and looking forward to attending our first event. You were recommended by a colleague!
Gretta Monaghan Ellis
Gingerlilly Contemporary Jewellery

PS : If anyone is looking for something to do on Thurs 25/11 between 6-8pm in The Met Quarter, Liverpool - we are exhibiting our jewellery at the L K Bennett store for a ladies evening. Champagne, canapes, 20% discount on LKB designs and lots of fun will be on offer. Everyone is welcome!
At 17:38 on November 21, 2010, Winston Hoyte said…
Hi Dave! :o)
At 13:34 on November 17, 2010, Roberto Martinic said…
Hello David, I saw you in Valdivia, Chile. Thanks for your conference about de creative economy. I remember always when you said " you can make money when you re sleeping", its cool.
Saludos
 
 
 

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