You ARE worth it!

I just love our F&TA community of jewelry designers! There is so much support, sharing and love for one another… it’s truly awesome. A few topics having been popping up and I thought it would be good to blog about one that really resonates with me and that is knowing my craft is of value and charging appropriately for it.

I started my consulting business because I love helping jewelry designers succeed in their biz! Helping others reach their goals is super fun, exciting and very rewarding for me. I have had an amazing career working for some incredible companies and I’ve learned so much, but for some reason I wasn’t quite sure if others would see my value. Talking money has never been comfortable for me so setting my fees and sending invoices was well… challenging. The crazy thing is that I strongly believe that if one doesn’t value oneself, then why should someone else value them?

Does this sound familiar with you? Have you been underpricing your jewelry because you are fearful that no one would buy it if you actually charged what it’s worth? You are not alone. It’s pretty common for a jewelry designer to underprice their work. Keep in mind that by underpricing your work you are not only not taking care of yourself and honoring your craft, but you are also affecting how others perceive the value of all jewelry designers. Bet ya never looked at it that way.

So what’s holding you back from charging what your worth? If you want a jewelry business, you must treat your business like a business and not a hobby. One of our F&TA students took a long hard look at her biz and really saw that she was underpricing her work. She revamped her pricing structure to where it made sense and to where she felt good. She had some fear as her new pricing was much more than what she had been charging, but she took the leap and did it. The day her prices increased she said she heard from an existing client who didn't even flinch at the new prices. How’s that for proof she did the right thing for her business? Ha!

Sometimes the hardest step is the first. I love this quote by Martin Luther King, Jr., “Faith is taking the first step even when you don't see the whole staircase.”

So go ahead, take that first step!

4 Comments

  1. Julie on May 21, 2013 at 11:38 am

    Thanks I needed this article today.

  2. Jessica on December 28, 2013 at 11:28 am

    I understand what this article is saying, which is why I raised my prices a year ago (like most jewelry designers, my old retail price was what my wholesale price should have been). However, I am concerned because my sales have plummeted big time over the last year, with the new pricing structure. I know part of it is because the customer base I had built before is different than what my new target market is… so I guess my question is: How do I find/bring in the new customer base that is appropriate for my new pricing?

    • Robin on December 30, 2013 at 12:38 pm

      Jessica,

      First, congratulations on raising your prices. It is a hard thing to do, but important for your business. What I would recommend is really defining who your ideal or Dream client is. Really dig deep and write out everything about her – Where does she shop? What’s her favorite band or music? Where does she live? What does she do for work? Is she single or married? Does she have kids? Or animals or both?
      By defining who your Dream client is, you can then direct all of your marketing efforts to her. For example, if she is part of an organization, then you can contact that organization. If she rides horses, you can contact equestrian shows or stores.

      Tracy and I saw that many of the designers in our community were having a hard time with defining who their dream client was so we created the DREAM client intensive course. This course will be launching in the next couple of weeks. It is a 2 week course designed to help you really dig deep and define your DREAM client.

      Again, thank you for your question! Wishing you a wonderful and prosperous 2014!

      xo Robin

  3. […] I hate to break it to you, no one really has a specific answer on a “specific” formula on how to price your jewelry collection. That’s because there is so much more involved in pricing than just the cost of materials and […]

Leave a Comment