Working on this article has had me scratching my head, these concepts want to meld together, and the lines want to blur. That is next week's concept. I must stay focused, and offer things in a manner that can satisfy.
Delving in,
The concept this week is materials, + Time.
In essence, this means you are charging an hourly rate for your time. You access your time to have value. Well, that is a no brainer; Seriously, is that not what I have been saying all along? The question becomes, where to place that value? Is my time worth minimum wage, or more? Where do I start? This takes some evaluation, and perhaps some additional information. What am I crocheting for this person? Does that matter?
The poop scooper at the petting zoo gets minimum wage. Has this person been building on a skill? Or did the shovel get handed over and pile after pile is removed. Is the service provided here more important than the work you do?
What about the person who serves your meal in a restaurant, or the person who washes the dishes in the same restaurant? will they say something along the lines of, Well, I just want to supplement my family income a bit, Or "but I love what I do, it seems wrong to ask for money"
I know when I choose to use this pricing method, I tend to focus on $8.00 to $10.00 an hour. Some have a much higher value, which, as in any industry comes from time and experience. I do believe that my time is worth more, but I also know that I have not found my target market. It is difficult to find the customers while I stand in the corn field throwing darts. That does not mean that I should insult myself by taking the first dollar that is dangled in my face.
If we are fair, to ourselves, and the customer, we look at what it is we are creating. This is a variable. Some may desire a custom created hat, others a granny style baby blanket. Are they both worth the same hourly rate? Maybe, Maybe not. you will have to decide that.
Let's pretend for just a moment, that the sky is the limit, you have no concern over quality of raw product, your stitches are exquisite, The pattern is beyond superb. Everything is absolutely perfect. You invest 2 hours in this project, and your customer has given you cart-Blanche. Because all of the components are so in line with perfection you set your price at 18.50 an hour, + the cost of materials. You will whip this out and be oh so happy to collect $50.00 for this Bag that the customer wants for her wedding. It is beyond all expectation. For Both of you. Well Done.
Now, for the same bag, and yarn, created by a person with less experience. Instead of taking 2 hours to complete, it is closer to 6 hours. Because both artists are determined to get it right, the bags are very comparable. Should the artist charge the same hourly rate?
I could go on, but without tipping into next weeks topic, there really is not a lot more I can offer.
Join me next Saturday for the comparisons, and some food for thought on when each of the methods make more sense, and how you can feel good about using all of them. Maybe even to a point of reading the pattern, and naming a price that feels good to you, and the customer.
Until next time
Becky
Delving in,
The concept this week is materials, + Time.
In essence, this means you are charging an hourly rate for your time. You access your time to have value. Well, that is a no brainer; Seriously, is that not what I have been saying all along? The question becomes, where to place that value? Is my time worth minimum wage, or more? Where do I start? This takes some evaluation, and perhaps some additional information. What am I crocheting for this person? Does that matter?
The poop scooper at the petting zoo gets minimum wage. Has this person been building on a skill? Or did the shovel get handed over and pile after pile is removed. Is the service provided here more important than the work you do?
What about the person who serves your meal in a restaurant, or the person who washes the dishes in the same restaurant? will they say something along the lines of, Well, I just want to supplement my family income a bit, Or "but I love what I do, it seems wrong to ask for money"
I know when I choose to use this pricing method, I tend to focus on $8.00 to $10.00 an hour. Some have a much higher value, which, as in any industry comes from time and experience. I do believe that my time is worth more, but I also know that I have not found my target market. It is difficult to find the customers while I stand in the corn field throwing darts. That does not mean that I should insult myself by taking the first dollar that is dangled in my face. If we are fair, to ourselves, and the customer, we look at what it is we are creating. This is a variable. Some may desire a custom created hat, others a granny style baby blanket. Are they both worth the same hourly rate? Maybe, Maybe not. you will have to decide that.
Let's pretend for just a moment, that the sky is the limit, you have no concern over quality of raw product, your stitches are exquisite, The pattern is beyond superb. Everything is absolutely perfect. You invest 2 hours in this project, and your customer has given you cart-Blanche. Because all of the components are so in line with perfection you set your price at 18.50 an hour, + the cost of materials. You will whip this out and be oh so happy to collect $50.00 for this Bag that the customer wants for her wedding. It is beyond all expectation. For Both of you. Well Done.
Now, for the same bag, and yarn, created by a person with less experience. Instead of taking 2 hours to complete, it is closer to 6 hours. Because both artists are determined to get it right, the bags are very comparable. Should the artist charge the same hourly rate?
I could go on, but without tipping into next weeks topic, there really is not a lot more I can offer.
Join me next Saturday for the comparisons, and some food for thought on when each of the methods make more sense, and how you can feel good about using all of them. Maybe even to a point of reading the pattern, and naming a price that feels good to you, and the customer.
Until next time
Becky
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