How Much Are You Worth

How Much Are You Worth? Moderator: Jonathan

PogashPanelists: Pam Wiznitzer,

Diego Cabrera, Justin Noel Seminar Hashtag: #WorkYourTalesOffAndGetPaid

Step 1: Be Social!Jonathan IG/Twitter: @thecocktailguru

Email: jonathan@thecocktailguru.com

Pam’s IG: @pwiz

Email: wiz@thecocktailguru.com

Justin’s IG: @jjnoel15

Email: closingtimecocktails@gmail.com

Diego’s IG/Twitter: @diegocabrerabar

Email: diego@diegocabrera.es

Instagram Handles and Hashtags:#LosArangoTequila#LegendsofKremlinVodka@boondockswhiskey@drinkxante@tomintoulwhisky@cherryheering

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Types of Gigs We Get Paid For

Special Events (private clients) Special Events (brand-based) Cocktail Development Consulting for Brands Consulting for Bars Miscellaneous

CompensationShould I or Shouldn’t I?

The Assumption Game

Experience = More $$

Next Generations?

Asking For What You Deserve

How To

Increase your rate… Especially once you’ve worked for a lower

fee…

Should There Be Parameters

Consulting Fee Model(consultantjournal.com)

1. Double or triple your hourly wage

2. Use a “Day Rate” for consulting

3. Per Project fee

4. Charging what everyone else charges

Hourly Wage Consulting

1) What would you make if you had a full time job?

i.e. $60,000 + benefits ($15k) = $75,000

2) How many “billable hours” in any given year would you have?

i.e. 48 weeks X 40 hours = 1920 hours

75K divided by 1920 = $39.06

3) Now TRIPLE that = approx. $120 per hour

Your Day Rate

Multiply 8 (for an 8-hr work day)

X your hourly rate ($120):

= $960

Don’t forget to say that “roundtrip transportation, accommodation, and ‘reasonable’ expenses” are not included

Per Project Basis- Determine the VALUE of your expertise

i.e.:

For a bar or restaurant client:

Writing A Recipe = $1

Making sure the staff properly

executes that recipe = $9,999

Charge What Everyone Else Charges

“…sometimes it really does make sense to charge what everyone else charges for consulting. It comes down to what the market will bear and what your competitors are doing. If you fall in line by charging the same as everyone else, you’re signaling that you’re a worthy (qualified) consultant who plays fairly. You’re also making sure you get the base line rate for consulting in your market.”

- ConsultantJournal.com

Your Overhead Expenses

Accountants Insurance LLC/Inc. Sub-Contractors Supplies Utilities

“Busy Fool vs. Faberge Egg”

Your Value

So How Do You Determine Your Own Value?

How Do We Ensure The Legacy Lives On?

@TOTC

@pwiz

@jjnoel15

@thecocktailguru

@diegocabrerabarOur Sponsors – Show Them Some Love:On Instagram:Cherry Heering - @cherryheering Tomintoul Single Malt - @tomintoulwhiskyXante - @drinkxanteLegends of Kremlin Vodka - #legendsofkremlinvodkaLos Arango Tequila - #losarangotequilaBoondock’s Whiskey - @boondockswhiskey