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How Much Are You Worth
- 1. How Much Are YouWorth? Moderator: Jonathan Pogash Panelists: Pam Wiznitzer, Diego Cabrera, Justin Noel Seminar Hashtag: #WorkYourTalesOffAndGetPaid
- 3. 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
- 4. Instagram Handles and Hashtags: #LosArangoTequila #LegendsofKremlinVodka @boondockswhiskey @drinkxante @tomintoulwhisky @cherryheering SUPPORT OUR SPONSORS!
- 5. Types of GigsWe Get Paid For Special Events (private clients) Special Events (brand-based) Cocktail Development Consulting for Brands Consulting for Bars Miscellaneous
- 6. Compensation Should I or Shouldn’t I?
- 9. Experience = More $$
- 12. HowTo Increase your rate… Especially once you’ve worked for a lower fee…
- 14. 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
- 15. HourlyWage 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) NowTRIPLE that = approx. $120 per hour
- 16. 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
- 17. Per Project Basis - Determine theVALUE 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
- 18. 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
- 19. Your Overhead Expenses Accountants Insurance LLC/Inc. Sub-Contractors Supplies Utilities
- 20. “Busy Fool vs. Faberge Egg”
- 21. YourValue
- 22. So How DoYou DetermineYour OwnValue?
- 23. How Do We EnsureThe Legacy Lives On?
- 24. @TOTC @pwiz @jjnoel15 @thecocktailguru @diegocabrerabarOur Sponsors – ShowThem Some Love: On Instagram: Cherry Heering - @cherryheering Tomintoul Single Malt - @tomintoulwhisky Xante - @drinkxante Legends of KremlinVodka - #legendsofkremlinvodka Los ArangoTequila - #losarangotequila Boondock’sWhiskey - @boondockswhiskey
Editor's Notes
- Jonathan Pogash Started as a barista, busser, and server 20 years ago – yikes! 2001: Barback, then bartender, then creator of The Cocktail Guru, Inc. in 2006 Started the NY chapter of the USBG Pamela Wiznitzer Opened Seamstress NY, Belle Shoals, among others Cocktail Guru team member since 2011 USBG NY President Justin Noel Consultant for many bars, brands, and events across the U.S. Creator/Owner of Closing Time Cocktails
- Jonathan Pogash Started as a barista, busser, and server 20 years ago – yikes! 2001: Barback, then bartender, then creator of The Cocktail Guru, Inc. in 2006 Started the NY chapter of the USBG Pamela Wiznitzer Opened Seamstress NY, Belle Shoals, among others Cocktail Guru team member since 2011 USBG NY President Justin Noel Consultant for many bars, brands, and events across the U.S. Creator/Owner of Closing Time Cocktails
- Thoughts from our Panelists about whether we should Always be compensated Sometimes be compensated Sometimes work for free?
- Sometimes brands assume you will give them things for free Sometimes bar owners/managers will assume you will work for them on a “bartender’s wage” if you are consulting for them
- Create a foundation in your industry Educate, never stop learning Build up your credentials and work experience SOMM exams, BAR, USBG, etc.
- Do they know what they’re doing? Want to be brand ambassadors, educators, competitors What makes them as qualified as those who have more experience? Are they getting paid the same, or even more, because they are “new and fresh”? Pay more for a real professional
- You can always negotiate down, but not up Don’t be afraid to negotiate Create a “rate sheet” and have scaled rates for big brands vs. smaller brands
- Standard rates in the industry – does it exist in the U.S.? How about in Europe? Should we create something like this? Take a poll in the audience?
- Low rates and work a lot but don’t make much Or super high rate so everyone respects you but noone hires you
- Don’t compromise it Pam’s Story
- Being timely, organized, and orderly will allow you to get paid what you are worth Don’t let too much time go between responding to emails or phone calls Try and learn the “business” side of things by asking questions and doing research on your own Ask for advice from Mentors