Tuesday, December 10, 2013

Etsy orders and why I've decided to lower my prices

I opened up an etsy shop in May. I guess with all businesses it is a lot of trial and error if you don't really know what you're doing. Etsy has a lot of great resources but it can be a little overwhelming. I have no experience and no one around me that has any experience running their own business that could help me. It's silly to call a little online shop a "business" but that's what it is. Eventually this is what I want to do full time but in the process of getting there, I'm figuring it out on the way. 

Pricing is the scariest thing. I don't want to over or under charge. I try to keep track of all my expenses. I've heard people say "don't work for less than minimum wage." I tried to use the formula that is on etsy but to me it seemed like I would be way overcharging for what I was selling. I settled to sell my crochet hooks for $15, which always seemed a little high to me. When I talk to people they tell me "that's it" or "you should just make it an even twenty." Too be honest, I really don't know. I've had sales and that's great but I still feel like I'm over charging. I decided recently to cut the prices down on my crochet hooks and see what happens. If my sales increase than great and if not than I know it wasn't just the price. I just feel lucky that people like what I make and actually want to and have bought my products.

Anyway, go check out my etsy shop! :)

If you have any advice for me, I would love to hear it.