Help, please: Pricing your Work?

As far as new technology, Facebook,cell phones and web sites, they will control you only as much as you let them. Don't become a slave to any of them. For pricing your work, if the client doesn't blink or stutter when the price is mentioned, you're not charging enough. Keep increasing the price in small increments until they grunt, stop at that price but don't ever go back. And, one thing I learned while marketing our product in a retail setting (a candy store with handmade candies and goodies) is, "perceived value" is what actually drives business. Who would ever think you could sell lollipops for $3.00 each when penny suckers are everywhere? Market yourself properly and never underestimate your value. People appreciate quality and will pay for it.

Bill

There are other factors that should be considered in the yearly "must have" expenses that you'll need to know to be able to price your product or service - IF you are self employed. (and have no retirement benefits or insurances from a previous incarnation)

It's ugly reality and most people would prefer to ignore it. Things like private disability ins., the mandatory medical ins. and some kinda retirement plan.

How many guys/gals on here are up into their 60's with enough stashed to make it to the end if things go bad healthwise?

3 of 6 docs I saw in the last 60 days had signs in the waiting room advising that they will NOT take Obamacare ins...

I'd be willing to bet that way too many of the self employed engravers/metalsmiths on this forum are not prepared for another crash in the luxury market or even a 6 month personal health crisis... (and that would include ANY age bracket)

Tack on another 20% to what you thought you'd need to charge.

If you thought $50 an hour would be enough - charge $60!

Skim off that 20% as soon as it gets to your bank. Forget you ever had it. Use it to cover some of things I just mentioned. Stash what's left over.

I can promise you that someday you will be glad you did!


Brian

Brian Marshall said:

I'd be willing to bet that way too many of the self employed engravers/metalsmiths on this forum are not prepared for another crash in the luxury market
Brian

Click to expand...

The "middle market" (which is always most affected), already has *crashed* in Europe..been quite poor for a while now with no sign of improvement.
Alot of manufacturers in the jewellery trade are making a loss & sales are 20%+ down on last year (which was not exactly great either).

Cartier watch factory in Switzerland has a couple of hundred staff on a very short week due to lack of demand....
I`m having to search out additional accounts to stay above the waterline..on the plus side, I may actually find time to practice some engraving again.