Thursday, June 18, 2009
Don't Undervalue Your Work
How much should a handmade card worth?
Recently my Etsygreetingsteam discussed about pricing our cards. There are so many competitions out there and all of us do want to make sales. Unfortunately, some of us are willing to sell their cards so cheap. I'm guilty for one.
But do we really feel satisfied when we makes sales ? Do we honestly feel that it should worth more than that?
Today, as a family, we took a stroll of Toronto Downtown underground simply to familiarize ourselves with the area. I could not help but to stop at this stationery shop, curious to see the cards that they carry. And when I saw the prices, I was shocked. It ranges from CAD$6.75 and up all the way to CAD$10.00. Gosh! I feel that my cards are worthless. I asked my husband to take a look at the cards and told him about the prices. I asked how he would compare them to my cards. Without hesitation he said, "of course yours are much better. No doubt about it!" *relief* I felt much better.
I know that deep down in my heart that I undervalue my works. Many people have told me that they are worth over $4 each and yet I was too afraid to increase my price.
I look at the details of my cards and how much time I spend on every card, I feel they are worth than $3.25. Each is one of the kind. Each is made with love.
So here is my plan. I need to get rid of my cards inventory because they are in Indonesia and I'm here in Canada. I may have them on sale. In the meantime, starting next week I'll start making new cards and build my inventory here. Once I'm ready, I'll make a switch and sell the cards that I have with me. I'll increase my price. It has been long overdue. We'll see whether it's going to hurt my sales or not at that time.
Sounds like a good plan?