Yes, I really do!
Mondays = the start of a freshly laundered week; crisp and clean; full of hope and promise.
Mondays say "Yoo-hoo, I'm here. Let's create some more loveliness. Let's get stuff planned. Let's start getting it done. Isn't this exciting?!"
Tuesdays say "Ok, Monday, you did a good job. Nice set-up for me. I'll take it from here."
Wednesdays say "Right, we've got some half-finished stuff here. Let's take it up a notch and make the ride to the weekend smooth."
Thursdays say "Last day of full action. People are still working strong. We need to get these projects finished. Hustle, hustle before slow Friday saunters in."
Friday says "I'll put you in a great mood if you've worked hard this week. If not, I'll leave you feeling frustrated."
What I've noticed about other small business owners, entrepreneurs and work-a-holics*, is that we don't see our weeks or days as chopped up into regular chunks. It's 24/7. No clocking in or clocking off. We feel frustration when we can't get something done or speak to someone simply because it's weekend.
In our minds, Monday is no different from Saturday; though that doesn't mean we don't take downtime. I make pancakes for the family on Saturday mornings, which is a tradition now. And I'll enjoy a lie-in. Plus, the kids are home, so we'll go out together or have friends over. But in my head, all days are created equal. If something needs doing, I won't wait for the traditional working week to start.
Sometimes we feel very envious of people with regular hours and regular pay checks. But doing what we do is in our DNA. If I stopped My Bespoke Chair tomorrow, what would I do? I'd probably be doing something like painting, designing, surfing the web and trying to make money from my love of interior design....hmm, sounds very similar to My Bespoke Chair to me...!!
So here we are - Monday again. Enjoy! Grab the day with both hands - it's the best day of the week. This week is YOUR week, and it's only just begun.
* I'm not one!
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Business blog of an enthusiastic solopreneur. Tracking the good times, bad times and everything in-between!
Sunday, 29 September 2013
Thursday, 12 September 2013
Pitch Perfect Pricing
Pricing your product or service is always tough. I have struggled with this all my professional life. When I started exhibiting my work back in 1998 in Switzerland and London, I often asked Fran, my husband, to price my paintings and drawings. I found it embarrassing to put a financial value on what was an extension of my soul.
I was torn - half of me delighted in earning money. The other half was ecstatic when someone else loved and wanted to own what I had spent time and passion creating. I could have given it away for free; I had found a kindred spirit.
In many ways, I still feel like that. When a client buys a chair or I deliver a painting they commissioned from me, I have butterflies in my stomach. And the soaring feeling of joy when I see my client's delight is hugely addictive. I truly live for those moments.
But I've become more business minded and now have things called profit margins and costings sheets!
As you know, I read and learn every day. I follow the blogs of business leaders I admire. I subscribe to their newsletters, go to their seminars and have taken an online business course. Pricing your value is a hot topic. And there are differing points of view.
"You deserve to charge what ever you want."
"Don't court bargain shoppers - they're not loyal."
"Price yourself high to get quality customers."
"Undercut your competition."
"Be aggressive in your pricing strategy."
My attitude to pricing is "The perfect chair at the perfect price for the perfect client."
Recently I have been revisiting my competition. There aren't many custom chair e-tailers but there are plenty of people selling chairs. I have always offered handcrafted, custom chairs at high-street showroom prices. Many chairs sold in mid-to-high end showrooms and online, are made in China, manufactured in the 1000s, bought in bulk and sold relatively cheaply. Some are still quite expensive because you're paying for the brand, despite being mass produced.
This week I lowered the prices on all chairs. Why and how?
I know my clients appreciate unique home-wares and furniture at great prices. What's more unique than a chair you had a hand in designing. Made specifically for you. But traditionally anything bespoke or customised has come with a hefty price tag. Luckily, technology and the internet have created a space for bespoke products at normal prices.
To do this, I had to negotiate with all my suppliers; they understand my vision of creating beautiful, bespoke chairs at comfortable prices. More sales for My Bespoke Chair = more business for them. And the savings I created with my suppliers are now passed onto my clients. It's a win-win-win situation.
Some people may criticise my decision, saying that I'm devaluing my brand or not taking out as much profit as I can. But I don't see it that way. I'm not taking anything away from my brand, or reducing my profits; I'm actually adding value to my client's purchase. The same Aussie craftsmen, the same chairs, the same fabrics, the same gorgeousness...just at a better price.
Free design service + free delivery + 100% returns + lower prices = pitch perfect pricing!
Sign up HERE for the My Bespoke Chair newsletter; free design tips, offers and behind-the-scenes pics.
I was torn - half of me delighted in earning money. The other half was ecstatic when someone else loved and wanted to own what I had spent time and passion creating. I could have given it away for free; I had found a kindred spirit.
In many ways, I still feel like that. When a client buys a chair or I deliver a painting they commissioned from me, I have butterflies in my stomach. And the soaring feeling of joy when I see my client's delight is hugely addictive. I truly live for those moments.
New - pastel chair frames with our Cupcakes and Chandelier fabrics |
But I've become more business minded and now have things called profit margins and costings sheets!
As you know, I read and learn every day. I follow the blogs of business leaders I admire. I subscribe to their newsletters, go to their seminars and have taken an online business course. Pricing your value is a hot topic. And there are differing points of view.
"You deserve to charge what ever you want."
"Don't court bargain shoppers - they're not loyal."
"Price yourself high to get quality customers."
"Undercut your competition."
"Be aggressive in your pricing strategy."
My attitude to pricing is "The perfect chair at the perfect price for the perfect client."
Recently I have been revisiting my competition. There aren't many custom chair e-tailers but there are plenty of people selling chairs. I have always offered handcrafted, custom chairs at high-street showroom prices. Many chairs sold in mid-to-high end showrooms and online, are made in China, manufactured in the 1000s, bought in bulk and sold relatively cheaply. Some are still quite expensive because you're paying for the brand, despite being mass produced.
This week I lowered the prices on all chairs. Why and how?
I know my clients appreciate unique home-wares and furniture at great prices. What's more unique than a chair you had a hand in designing. Made specifically for you. But traditionally anything bespoke or customised has come with a hefty price tag. Luckily, technology and the internet have created a space for bespoke products at normal prices.
To do this, I had to negotiate with all my suppliers; they understand my vision of creating beautiful, bespoke chairs at comfortable prices. More sales for My Bespoke Chair = more business for them. And the savings I created with my suppliers are now passed onto my clients. It's a win-win-win situation.
Some people may criticise my decision, saying that I'm devaluing my brand or not taking out as much profit as I can. But I don't see it that way. I'm not taking anything away from my brand, or reducing my profits; I'm actually adding value to my client's purchase. The same Aussie craftsmen, the same chairs, the same fabrics, the same gorgeousness...just at a better price.
Free design service + free delivery + 100% returns + lower prices = pitch perfect pricing!
Sign up HERE for the My Bespoke Chair newsletter; free design tips, offers and behind-the-scenes pics.
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