Factoring expenses into your rates 101 ✍🏼 (save for later!) One of the most frustrating mistakes I made as a new influencer was not considering what it would cost ME to create content for a brand. Tbh, it happens a lot because we oftentimes just get so excited that a brand wants to pay us that we forget it might actually cost us money to make the content 🤪 Suddenly that $500 sponsored post turns into: - the cost of gas to get me to the shoot location = $40 - the cost of props for an aesthetic photo = $50 - the editing software I'd need to invest in = $25 You get it. After expenses, $500 is now $385 🙃 If this is something you're running into or you want to avoid altogether, keep scrolling for how to account for your expenses in your rates 👇🏼 01. Run Your Brand Like a Business This first tip is definitely related to mindset, but I've found that those who treat their brand as a business instead of a hobby … earn more. A LOT MORE. If you haven't already, register your brand as an LLC (aka business) in your state. This is a great way to take tangible action that says, “I'm taking this whole influencing thing seriously.” because you totally should. 02. Know Your Expenses Next up, I want you to make a list of common expenses for working with brands. If you're new to this, you might not know off the top of your head what your expenses might be, so I'll help you out with some examples: ⛽️ Gas to get to the shoot location – $40/tank 👚 Clothes (unless they're gifted or provided) – $50 🌴 Location (if it's not free) – $25 Resort Pass to shoot at a hotel pool 🖥️ Technology (lighting, editing software, backdrop, etc) – $20 📸 Photographer to capture additional content or video – $250 You might not include all expenses when you work with a brand, but having a running list that you can use to negotiate your rate with saves lots of time and money (obviously). 03. Build Your Expenses Into Your Rates Now that you have a running list of your expenses, you can build them into your rates whenever needed. #influencercoach #contentcreatorsoftiktok #creatormonetization #influencerrates #socialmediatips