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Month: May 2010

The Power of Pricing

Last weekend, I did a really fabulous local craft show (the Lavender Festival) and once again, I learned the power of having the right price. I spent two full days meeting lovely knitters, crocheters, and wanna-be-crafters. I noticed them pick up my yarns, check out the price tag and I watched their reaction. This is maybe the hardest part of selling in person: watching and hearing reactions. Will they be negative? Positive? Indifferent? This tension can throw a normally-sane business-gal into a tizzy. It can cast doubts on all the math you did to figure out that price.

Because your price is not just a number. It represents value.

The value you place on your work and skill and passion. And the value your customers place on what they hold in their hands.

What I’ve learned through 4 years of selling my yarn in person is that the right number on the price tag is just the first step.

The  clincher is how I feel about that number.

Do I apologize for it? Do I hem and haw? Do I trip myself up trying to explain that it’s ohmygoodness it’s made by hand from local wool and really rare and and and

Or am I confident? Am I proud of my work?
Do I truly believe I deserve to make what I put on its price tag?

My confidence my belief in my work is communicated to the customer and allows them to feel accept the price. My comfort with being paid for my skill and time, gives them comfort as they reach for their wallet.

This comfort may not come naturally, but it can be learned. And if you’re going to sell (online or in person), it’s vital that you learn it.

The combination of the Right Price (one that pays you fairly and reflects the quality of the work) and the Right Person (someone who loves your work and is happy to pay for it) turns the sale into an easy, fun experience for everyone.

Oh, and at the festival this weekend? I heard not a single word about prices. Every Right Person snatched up what they wanted and whipped out their wallet with glee. I had a great time, they had a great time and we all ended up with what we needed.

 

Is that the experience you have selling your work? If not, why do you think that is?

PS. Not sure what your Right Price is? Wish you just had a simple formula and some ideas for becoming comfortable with it? Learn how to figure it out in Pricing 101, a bonus class in Pay Yourself. 

My first published article!

Just got my copy of Inside Crochet in the mail.

Inside Crochet

And flipped to page 66.

And there. Is. My byline.
HPIM0961

Even better: there's a whole 4 page spread of my article.

HPIM0960

And my pictures.

HPIM0963

The article is, as the title says, all about finding local fiber farms (or, if you're British, Fibre Farms). I wrote about my experiences and gave some suggestions for finding farms local to you.

Inside Crochet is a British magazine (and it's been available there for a few weeks, I think), but you can find it in the States at your local yarn store or at Barnes + Noble (my spies tell me that it should be in by May 10th).

Let me know if you read it!