It has been hard to feel motivated to create more inventory since the main thing selling has been the different one-inch buttons that we started making a few years ago. This week, however, we had a sale that I never imagined would happen. The most expensive item in our shop sold!The tatted lace baby bonnet took me so long to make that I swore off making another. When I put a price of $70 on it, that caused most people to pass it by. I stood my ground since it took me at least 70 hours to make and I see it as an heirloom item that a family would pass down for christenings and baby blessings for years to come.
Why is it so hard to charge a price that's fair to me for my efforts? A good friend of mine has ceased to be shy in charging for his quality work. He refuses to lower the value of his work and makes no apologies for it. It hasn't hurt his business and he has as many custom orders as he can handle. I'm determined to get braver as I go and be better about being paid for my work. Still not sure if I will make another one of these bonnets in the near future.
How are you doing with your pricing strategy?
