As a small business owner, as an artisan: you have to spin a web of product deliciousness that appeals to your customers. This is something I think about frequently as I decide how to price things: it can be tempting to think “no one would pay that price for that item” but that’s simply not true … it’s actually quite a hurdle to obtain the skill, set up all the tools, and not everyone wants to go through that process. And thus they’ll gladly hand over the money and consider it well-spent.
Take this table, for instance.
We calculated that with a couple thousand worth of tools, and another couple thousand for wood and hardware, we could make our own version of this table. But we have a base of knowledge for this type of craft, we have the room to store said tools, and we have the room to actually construct this beautiful thing. Not everyone has that, or wants to have that, and so they plunk down $15k and are happy with their purchase (even I would plunk down the cash if I had it … it’s gorgeous).
So the moral of Monday is don’t sell yourself short. Charge accordingly; there will be some who want Amazon pricing and they’ll move on, but you’ll capture the attention of those who know quality when they see it and are willing to spend to obtain it.
Art On, my friends!