Bravo, we can not hear that often enough!!! Thank you!

This is exactly what I want to hear. I've been gradually increasing my price and surprisingly I get more sales. With my current pricing, I can invest more on quality supplies. Thank you once again.

@Tizzitco

5 жыл бұрын

I am so happy to hear that! Well done - this is not a easy thing to do but it is the only way to grow and to *really* make living from your shop.

I'm just getting started on my handmade shop. You are a God sent! Thank you for your videos. I am worth it and it will reflect in my product quality and price! ❤

You're right, Deborah. Until recently I was thinking exactly the opposite, that cheap pieces are that they sell. But now I know that this kind of approach is wrong and attracts the wrong customers. We have to value ourselves so that others value us.

@Tizzitco

6 жыл бұрын

So true Carla, I am glad you changed your mind!

@truckingwithtobee

5 жыл бұрын

Carla Amaro hi Carla read my comment above and you’ll see my mistake that I made. I almost killed myself because yes I was getting a lot of orders because I priced lower than my competitors but in all actuality he and I’m not just saying this my art was better. I literally took the ladies advice in this video and my stuff is selling like hotcakes this week and now I’m making eggs significant profit. So put in what it cost you for materials would it cost you to drive around looking for those materials, Etsy fees, your boxes tape and packing materials and of course shipping fees and then offer free shipping and you will still sell your item. This lady knows what she’s talking about♥️

Thank you so much for your information! I’ve been selling on Etsy for four years now and my handmade items are nicer than other people and you’re right I was trying to compete with them with pricing and I was causing more work for myself because yes people are looking for bargains! And I was only making minimum profit. So this last week I have raise my prices significantly so that I am making a decent profit and I put shipping in my pricing as well and then offered free shipping and it’s crazy how many orders I’m getting. So thank U thank U thank U you are amazing I should’ve listened to you years ♥️♥️♥️♥️

@Tizzitco

5 жыл бұрын

YAY! This made me so happy, congrats on doing it, raising prices is always hard - often because of mindset issues, so well done!

I’m literally finishing pricing right now because we launch tomorrow! I’m so so tired since it’s 2am in California and I’m struggling w the fear of overpricing and your video popped right up! Thank you! I’ll take that as a sign ☺️☺️

@Tizzitco

6 жыл бұрын

Most welcome Cynthia! And yessss love this! It's a sign for sure! Don't worry, I am sure you will find the right customers, who are ready to pay the right price for your products. Better to sell less at a higher price than a lot of items at a price that's too low. That leads to overworking without making a profit and I don't wish that on anyone!

I used to have a handmade jewellery shop and I let the thought "everyone else is doing the same as me but much better, I'm not worth their money" take over and shut down my shop. I have felt lost ever since. Don't let this happen to you guys

@Tizzitco

6 жыл бұрын

Thanks for sharing Lynn! And it's never too late to open up your shop again!

@lynnantoniamarley

6 жыл бұрын

Thanks Deborah, watching your you tube recording yesterday has made me think again about it and I think I am going to do some homework with a view to maybe opening a shop later in the year. I haven't felt like this in a while so thank you for helping me find my way xxx

This video is so amazing, I learnt a lot.. Thank you 😘

I needed to hear this. Thank you so much! I just started a macrame business and I’m having a hard time with pricing my creations. I am guilty of most of the things you said! Now, I’m more enlightened and encouraged to continue my future business plans!

I'm so happy you raised the topic of perceived value, and how just raising your prices can can give the perception that the product is better quality and worth more. I want to learn all I can about this topic. 🙂

I just feel guilty charging £30 for something that cost me 0.24p and 5 minutes to make, but that's because I'm not including all the time that it takes to photograph, edit, write the listing,hassle on social media ,finally post the item and customer service. I'm really conflicted whether i should raise the prices.

@Gorgeousbronze1

3 жыл бұрын

Stores don't have a problem with doing just what you described. They are in the business to make money. You should be as well. Stop working for nothing.

@ecouturehandmades5166

3 жыл бұрын

PERCEIVED VALUE, the higher prices are better quality, cheaper = throwaway, wear once. Your time, education, skill is worth as much as a doctor. You might not save a life, but your art could save a soul.

the last 2 minutes of the video is what I needed for the moment .. Thank you so much for this Words ..you made my day .. Greetings From Morocco

Quick and to the point, Deb. You covered it all! Sometimes customers tell me how spendy my products are. Sometimes I hear I reasonable I am. But with your formulas, and knowing that when I sell wholesale I am still making a profit, I feel like I'm getting this pricing thing down. Love you, teacher!

@Tizzitco

6 жыл бұрын

So happy to read this Dee! Proud of you for working this out so well. It's all about finding the people who are ready to pay for your products and who know that it is reasonably priced. The rest of them can shop on Ebay :-p

Thank you so much for the helpful information!

I am so thankful that I found your channel Deborah!!!! I’ve been struggling with pricing for a long time !!!! I will no longer underestimate my talent!!!! 🥰

@Tizzitco

4 жыл бұрын

+cindi pritchard nothing makes me happier than reading this! You are worth it 😘😘

You know I never thought about the hurting the handmade community part. That is so true when you think about it. 🤔 Thanks great info and food for thought as usual.

@Tizzitco

6 жыл бұрын

Most welcome Athea! I am glad you resonated with it!

@deeharris6583

6 жыл бұрын

It’s taken a long time to realize that prosperity isn’t just about money. I’ve made so many meaningful relationships with both shoppers and fellow vendors when people aren’t looked at like dollar signs. It’s powerful!

@growthemoreweknowmarissamu2534

4 жыл бұрын

Dee Harris ! you are so right about that !because human connection is more valuable than “piece of paper that we are told to act like it is important (and not necessarily real ; -) Money is not the only Way to acquire the necessities of life!If you make a real connection instead you become a wonderful trader of skills with everybody having their own skill or passion. you know and have everything you need 🙏💖. But there is a great deal of balance to it all.and when we raise prices we establish a new identity of self worth and appreciation for the hard work we have pushed our mind body and soul to endure in this venture like the warrior and goddesses we know we are ✋🤚💪

@growthemoreweknowmarissamu2534

4 жыл бұрын

Deborah Engelmajer this is so wonderfully great video! thank you so much for bringing into existence for us all to learn and grow together. SELF WORTH

@growthemoreweknowmarissamu2534

4 жыл бұрын

Althea /// self empowering:)

Great Advice! Evaluating how we price our handmade items is certainly something to consider. Proper product pricing and market value are very important for a successful and profitable business. Thank you for sharing your expertise!!!

Thanks, Deb. You always have extremely valuable advice. Such a valid point about the affect of pricing on the maker community. That is exactly why i didn’t raise my prices because i am finding that most makers with similar items are way underpriced. So it made me feel uncomfortable about raising my prices. I will restrategize my pricing but have to come up with a good plan to do so.

Thank you very much. So far it is working but until you mentioned wholesale, I am breaking even. So probably I do need to raise my prices.

Loving your videos! So helpful!

@Tizzitco

6 жыл бұрын

Thanks Rhonda! I always welcome ideas for new ones so if there's something you'd like me to talk about, feel free to suggest it in the comments.

Hi Deborah. I am enjoying watching your videos and appreciate what you are saying. It is not always easy for beginners on Etsy or, for that matter, in business, to understand pricing. You have mentioned very good points. One that stands out to me is "Perceived Value". Thanks for the encouragement.

Thank you so much for making these videos, it's both very educational and inspirational.

@Tizzitco

4 жыл бұрын

My pleasure! Thank you for watching!

Thank you so much. This video has been a pleasure to watch. I totally undercharge and I know that - going to stop that!

Thank u so muchhhh.... u solve my problem that i need....i plan to open my handmade shop...

@Tizzitco

5 жыл бұрын

Most welcome! Thank you for watching!

You had me at Point #4; two points before the last one. And the last point really got me going. Thank you for the boost!

@Tizzitco

4 жыл бұрын

YAY! I am so glad, this is the topic I love the most!

Thank you girl, I really needed to hear that. I have been going back and forth with starting a handmade shop, but I am torn between crafts and baked goods, lol. Think I will throw my doubts and fears out and just do it!!!

@Tizzitco

5 жыл бұрын

yes, yes, and yes x100... you are worth it.

Thank you so much!...I am just beginning to sell my product and I had no idea how to calculate my pricing. In fact I was estimating or guessing instead of calculating what price I may ask, and this video has completely changed my mind! Also thank you for the quotes: "Handmade does not mean cheap" and "I am worth it." I will be keeping these quotes as a constant reminder. Also thank you for all the links. The information you have provided me is "Priceless!"

@Tizzitco

4 жыл бұрын

I am SO happy to read this! Thank you so much - pricing is so important and every maker I convince they should probably put their prices up is a win for me! Have you watched this live video recording? => (you can skip the first 7 minutes) kzread.info/dash/bejne/dH5krNCLpJaqdsY.html

Pricing is very difficult. All of the points mentioned in the vlog are valid, however, we must also keep in mind what the consumer is willing to pay for our product. They don't care about our costs. You're correct, it's about perceived market value. Pricing and marketing strategies work hand in hand.

@Tizzitco

6 жыл бұрын

So true Sonya! Finding cheap supplies to lower costs, perceived value, branding and marketing all play a very important part in any solid pricing strategy. That's also why understanding who your ideal customers are is so important and why I sound like such a broken record about it hehe

@raramatthews3911

6 жыл бұрын

It is really true Sonya. In my 10 years of business I have found that most people don't care about handmade, organic or ethically made. They want cheap.

I really appreciate all what you say and your dynamic and energetic behaviour. THe thing is : where to sell my hand-made items to find the good customers, ready to pay the worth price for them

@Tizzitco

4 жыл бұрын

You can always sell on your website if you feel none of the marketplaces (etsy, etc.) are a fit for your products/customers.

Thank you

This video definitely had me hitting the subscribe button! Thank you so much for your advice. I'm currently pricing my handmade pet beds. I've been crunching the numbers to see if I can approach a few local retailers I think will support me, but to make enough money in retail means I have to ask a lot more than I do currently online at my wholesale prices. It's scary to think I will ask so much for the product but deep down I know you're right and the products are worth it :) Thank you again! Scary but so exciting. Looking forward to seeing more of your content!!

@Tizzitco

5 жыл бұрын

Hi Sandra! Thank you so much, it means the world! New video coming tomorrow (Tuesday US) and it's actually about pricing and the fear of pricing too high too! You'll love it!

@Sandra-lk5yt

5 жыл бұрын

@@Tizzitco You're right! I did love it! Your channel is a gold mine of information and business inspiration! Thank you :)

I contacted "the world's largest seller" of what I make, more often in wools than what they have (cotton). They sell their "handmade cotton" items for $7 plus shipping and a looong wait (because they have to import them...)... Anyway, I was told that if the same item was made in the US, they would have to charge $50 each or more. Still haven't heard what a wool knit item would cost, but the math is there.... And these were WHOLESALE prices (I am the highest priced seller of my items on Etsy and may have to add a zero). From day 1, I have been told that OOAK items are not a good sell. The nature of "handmade' says that each creation is different, even in some small way. Keep banging on your drum, they will hear you.

Excellent as all your videos are. I really appreciate another bump in the direction of why I am doing this (selling) at all, it is me. Or I wasn't looking for something to sell I could hand make. I am offering something very personal and unique to me for sale. 🍍

Thank you! I realize I have low prices, at least 50% lower than they should be (yet no taxing, no wholesale margin included), and maybe it's silly, but how to be with my returning customers? I have such a struggle:))

This is such a difficult one. I have priced my handmade products according to how you say (2x imagined for wholesale) but I often get people commenting that my items are expensive. I sometimes put my products on sale in slow business times and this is when the most sell - this to me tells me that people think my items are expensive and that they're only willing to buy when they're on sale.

@Tizzitco

6 жыл бұрын

Two questions I would ask myself are: Are you using perceived-value as a part of your marketing and pricing strategy? To charge more, the value needs to be communicated effectively to the customers with professional branding, professional pictures, etc. Second question would be: If your prices need to be $X for you to run a profitable/successful shop, but your current customers only buy at $Y, have you considered that these people might not be your ideal customers? Finally, if you sell on Etsy, it can be tricky at times to justify your prices if your competitors are charging much less, because they're not turning in a profit..Something to keep in mind.

Such a clear video. Thank you. How do you determine the rent in your pricing if you use your own home as working place?

@Tizzitco

4 жыл бұрын

I am not sure where you are located but usually you can claim for tax the part of your rent that is effectively being used for business (because you use a room for your office/studio, etc.). I'd use that figure.

@marymcandrew7667

4 жыл бұрын

It has to do with what percent of the house space you use. I don't figure it into my prices but it does count to my accountant. Ask about it.

Hello from Australia. Thank you for sharing your videos and ideas. I make one of a kind craft pieces and would like to know how to make money from them. I work on cost of supplies plus $25 per hour to calculate my pricing. There are not many products like this online and I feel it could start a new neich to the pet owners community. What are your thoughts Please?

Hi Deborah, I priced at low prices to be able to sell as I sold 6 orders last year his year I sold more because I am paying top notch advertising and make no money what so ever. Can you help.

Even when I’m new to selling online and fairly new to making my products should I price them higher?? I’m making wire wrapped rings with 3 cute crystals in them, at first I was thinking of putting them on Etsy for $10-$15 but that would barely cover material cost, shipping, and my time so I looked at formulas and those would cost my rings at $22-$44 and I felt like that might be too much considering they’re somewhat easy to make. I haven’t opened my Etsy yet but I’m so conflicted about pricing lol I was going to do a middle ground of $17-$18 free shipping to start with and I may bump up the prices when I get more experience. Does that sound fair? They are genuine rose quartz crystals and I’m getting cute packaging for shipping lol

@Tizzitco

3 жыл бұрын

if you haven't watched it yet, I'd recommend this video which touch on a few things I think you might me fighting off :-) => www.tizzit.co/pricing-handmade-fears/

@AeroMysticLifestyle

3 жыл бұрын

@@Tizzitco thanks for responding! I think a big thing will be finding the target customers to market to

Hello Deborah, So will this upset customers well ..... returning customers who have been shopping with you. How would you recommend doing it if you have already have a small following. Thanks Tina

@Tizzitco

6 жыл бұрын

Hi Tina, I address this exact issue in the "facing your pricing fears" video. Have you watched it? I think it will help!

Thanks Deborah. Deffo agree with not underselling the community - we sell prints and there is some ridiculously low priced competition. I feel like our pricing is ok but Id love to hear what others think? cheers... rocketjack.co.uk

@Tizzitco

6 жыл бұрын

Absolutely! It's time we fight the idea that "handmade means cheap", it definitely does not :-)

What if your prices are where they should be but there are still those around you at very low prices?

@Tizzitco

6 жыл бұрын

Great question Barbara. The thing is: competing on price with people who are underpricing will never be a viable strategy because you will never make a profit. Although it makes it harder for you to justify your higher price (that's why reason #7 is in the list!) it is possible to do so by using "perceived value" and up-levelling your branding and customer experience.

@raramatthews3911

6 жыл бұрын

This is a really good question and has just made me realise something. I sell on Etsy and this is where people will see competition of you drive them there. Time to get off Etsy I think.

I tried using your pricing calculator to calculate the cost of a sample product. I was planning on selling the product for £25 which is the highest any one on Etsy is selling a similar item for and yet your calculator is saying I should sell it for £61? Not sure how I should go forward with that.

@Tizzitco

4 жыл бұрын

The pricing formula I use in the free calculator is the most conservative one you could use. It is the one that will always give you the most generous amount of profit. I talk about this in more details (the main formulas I recommend, how to adjust them to work for you) and more strategy around it all in my pricing course inside the Tizzit HQ membership if you're interested in learning more: www.tizzit.co/hq - you can join for just one month if you'd like) The 2 golden rules you need to keep in mind when setting your prices are: - Are you covering your costs + adding in enough profit to pay yourself, save for taxes, re-invest in your business? - Are you using value-based pricing to price not only to cover your costs, but with a deep understanding of what your ideal customers are ready to pay for and the value they see in your products? This is where "perceived value" comes into play. Bottom line is, you can absolutely experiment with a different profit markup, or you can adjust the formula to work for your specific business (as long as you respect the 2 golden rules). I would also ask myself what made the price go up inside the calculator: high labor cost (time consuming), expensive supply (are you buying wholesale?), or high overhead? and following up: can you get those numbers down? Something else to keep in mind is that "place" (where you sell your products) has an impact on perceived value. Selling high-end pieces on Etsy can work well (and some sellers do it successfully) but is not the easiest as a lot of sellers on Etsy underprice their items (= a lot of sellers DO NOT make a profit), making even someone with mid-range prices look overpriced. If you want to build a brand name and be able to sell at higher price points, having a standalone website can be a strategic decision. Not saying you can't do it on Etsy, but something to keep in mind.

you are gorgeous

This video is so amazing, I learnt a lot.. Thank you 😘