Weekly-ish notes on navigating big change

pricing

Pricing Handmade Goodness

My last post, on the Power Of Pricing, got me thinking. I recieved the best feedback (both in the comments and via email) and what I’m noticing is that a lot of makers are having trouble figuring out HOW to find that Right Price.

Well, I think it's time we figure it out!

After listening and noticing and reading Twitter, Etsy forums and the email you've sent me, it seems many (most?) sellers-of-handmade-goodness are either doubting their business (the economy is bad!) or wondering “how in the heck can this pay my bills?”

And this is bumming me out.
Because it's not the economy. And it's not what you're making.

It’s what you are (or aren't) charging.

If your price isn't right, then it doesn't matter how much you sell, you won't make enough.
Enough to sustain you.
Enough to quit your job.
Enough to grow your business.

But pricing your handmade goods isn't alchemy.
It is totally figure-out-able with formulas and thinking and plotting.

But formulas and plotting aren't one-size-fits-all.
Everyone's handmade-thing has its own needs and costs.

With that in mind, I'm putting together a class that will cover the basics (math, formulas, strategies) and will answer your specific questions. Yep, 1 hour of class-like teaching, followed by a as-long-as-it-takes Q+A.

And if you can't make the live call? You can send in your questions via email or Twitter and I'll answer them on the call, then send you the mp3.
And if you're just NOT into audio? You can get a written summary, along with worksheets AND your questions answered during a live Twitter Q+A session.

But here's the thing! I'm doing this quick, because I want to donate $5 of ever registration to Havi's fun-brewing (she's building an in-person teaching space) and she needs to have a floor in that space by June 7th.

Oh, and to thank you, Havi's giving everyone a copy of her excellent Copywriting Magic class! (It's an mp3 recording, which I'll email to you!)

Want more details about the class? Click right here

Have questions? Leave them in the comments.

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. 

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