5 Stories from Making $500,000 in Woodworking

[@erregi_diy8976]

I also started creating cutting boards with my KZbin channel. I hope to achieve your success. Well done

[@aaronblackford981]

Jennie and David. So happy for you two.

[@eileenb234]

Move proof furniture?! What a concept! Although it wouldn't have helped for that time we had to store half our furniture and it came back with black footprints on an off-white sofa..😝

[@calvincrawford9583]

So i specialized long grain style wood project from furinture to cutting board i find have a a unique style or speiclized item

[@mohammedali808]

It is always refreshing to hear your rise and fall in your business. Can you show pics of all the items you made.

[@jimrosson6702]

Great video Thanks for sharing your experience it’s very helpful.

[@lewisland3695]

I was stuck on pricing out some work I've done and this was a timely video for me. Thanks! It is difficult to adjust for inflation, what sounds high now has to be weighed against the current market. It's almost $20 to hit a drivethru, nearly $10 for a 12 pack of pop. It's just changed and it's difficult to know what I should be charging.

[@outdoortherapy6596]

wow what a great video. now to get my wife to think like you guys do

[@BobStCyr]

What man really needs to learn is to stop chasing the $. Making good products that contribute to other people’s needs and doing it in a way that also enriches our lives. What if we measured accomplishement by how it made the world a better place, not how many dollars did we get.

[@Itsreallymarcus]

Yes you can, it’s called being a custom woodworker.. meaning you specialize in woodworking.. and being considered a handy man is kinda like being a general contractor…can do pretty much all of it lol

[@Martin1519]

i finally got to starting my business, i got everything setup, and now I'm stuck at the online marketing phase. I haven't been able to sell a single product yet. i have a good product, i use good material, I'm confident my website looks good and legit, and my ads seem to be getting clicks. The only problem i could think of is that i currently only have two products in my store and 1 variation totaling 3 products, and maybe that's why i haven't got a sale yet, or maybe i need to put more money into ads, I'm really not sure. but any advice is greatly appreciated.

[@petertragardh4571]

Not a charity... A school! You don't make money, you create experience. Just know that you will get enough knowledge at some point, and that you are ready to start getting money instead.

[@Firefighter1997]

I am new to this and I am trying to figure out how to price my items. I don’t want them to low that I am not making money and not to much that I am ripping them off.

[@mrscience1409]

"not to much that I am ripping them off" If you sold them a product that they wanted at a price they wanted to pay, you cannot rip them off. Ripping them off means you hid poor quality. In business there is something called a supply and demand curve. Look it up. There is an ascending supply line and a descending demand line. At the point the two lines intersect is the most you can sell at a particular price. That is your target. If you cannot make a profit there, then you should not sell the product. But a business should ALWAYS charge the maximum price someone is willing to pay. That is determined by the market, not by the business. If you don't, then some other company will and they will use the profits to improve the business and the product and crowd you out.

[@thomasrichmond7989]

But there are so many people out there that would rather buy IKEA or big box stuff rather than pay for quality and long lasting products.

[@mrscience1409]

That's your niche, quality. A successful business plan is to sell a few high priced, high quality products to the rich. Then later, sell lower priced products to the masses. Look up PXG golf clubs and Tesla.

[@kevinronald4137]

Sell, sell and sell a summary of your business.

[@raisinggrainwoodworking]

Oh the maker's curse. It is sooooo hard not to point out the imperfections. Keep you mouth shut and they will never know it. I used to sell higher price items for a major corporation. I would have customers that bought out lowest price items and they were almost always the worst customers to deal with post sale. I got to the point I told people 'I'm not going to sell that to you. Every time I sell one of these I spend more time fixing problems than it's worth. I'd be happy to sell you (x product) or higher, but if you insist on buying this one, I'm going to invite you to buy it from someone else.'