The Cost of Success

Irregular income, money stress, knowing your value and the emotional cost of building something - let’s explore the financial and emotional realities of building a creative career and what success really costs.
Hope Harvey
The Cost of Success Event at Soho House

Knowing Your Worth

When you’re starting out on your own as a creative, it can be hard to find the confidence to charge what your work is actually worth. You may not have the experience or education to help you understand appropriate benchmarks and we all know how imposter syndrome can take over and make you question whether you deserve to charge what you’re asking for.

The truth is, you learn as you go. When a brand wants to work with you, at first you may be scared to propose a higher fee in case they say no or they decide not to work with you in the future.

‍

So, what can you do?

  • Be part of the community: Be transparent about what you earn as not only will it help other professionals in the business, but you will learn a lot too.
  • Often, brands will have more budget than what they initially offer. Have a solid case and be confident in your abilities when you’re proposing a fee.
  • Adjust your terms: You may decide to include a late payment fee into your contracts because brands paying you late directly affects your income. You don’t want to spend your valuable time chasing invoices.
  • Get comfortable with hearing no because it makes that yes worth it and you’ll be paid what you’re actually worth.

‍

Accepting an Unpaid Opportunity

We’ve all been there - taking an unpaid opportunity because it promises exposure or accepting far less than we wanted because we were told it would lead to something bigger.

Sometimes, a value exchange is more than just money. An opportunity may provide you with visibility, a connection that sets you up for another job or access to a room you didn’t have access to before. They could help build credibility and broaden your audience.

Although, don’t let brands tell you it’s for exposure without you being made aware of what that exposure actually is, especially when you already have exposure in that room or to that specific audience. Are you really gaining anything?

If an opportunity is offered as unpaid and you ask for a fee, they may say no and guess what? That’s on them.

‍

The Emotional Toll

When starting out, you may find yourself creating content and posting every day, struggling to switch off from work. You may find yourself pushing through burnout because you are solely responsible for your income.

‍

How do you take control?

  • Set boundaries: Schedule at least one day a week where you’re not working or even thinking about work and stick to it
  • Find hobbies outside of work: Find unrelated activities to enjoy and don’t feel pressurised to monetise them
  • Stay in control of your business, don’t let it control you: You can shape what it looks like once you get a hold of it.

‍

Rather listen?

Listen to the Pennies To Pounds podcast
Go To Spotify
Savings
Loans & Credit
Property
Students
Pensions, Wills & Retirement
Parenthood
Wedding
travel
See All Resources
About the site
Join the Newsletter