What is the cost of creativity and experience?
I wonder this frequently because I am often asked what justifies a fee. I think it is similar to being a pro ball player. Being a really good basketball, football or baseball player means, in part, consistency and understanding the field of play so well that you can make decisions or improvisations on the fly. Of course it also means you will win more than you lose. The real question is: Who wins and who loses?
In a hotel or hotel restaurant’s case: Do the designers win because their design ends up on a front page? Does the public win because a great deal of money was spent on a beautiful space that they get to enjoy at market or below-market prices? Do the operators win because they now have a space that is easy to operate? Or last, but not least, does the owner win because the restaurant will make money either to pay back the investment or for a long time to follow?
Sure, with any kind of fee we tend to think of the direct costs ? the cost to physically draw up design plans, the cost of all the ingredients that go into a dish, the cost for services rendered ? but above all, we pay for reliability. The more reliable someone or something is for delivering what is expected and achieving the desires of all the constituents as outlined above, the more we are willing to pay. After all, aren’t batting averages, field goal percentages or points per game all measures of reliability, and usually correlated with the players that get paid the most?