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Come up with a price (whether it be hourly or flat) and stick to it 100%.
There will be bands that come along and are like "hey man, (insert bedroom studio name here) will record us for a little bit less than you, will you beat his price and give us a deal?" Say no to all of these bands, but tell them it is because it would be unfair to charge certain bands less to get the same quality in a recording with you just because they were shopping around. All bands are shopping around and comparing price to quality. Let them go to the kid with the MBox, spend a few bucks less, be disappointed, and then hate themselves when they realize you may have been the better choice.
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