Handmade Product Pricing Mistakes ❌

[@CreativeHiveCo]

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[@jaelvb]

What if I have ₱120 cost and I want to have ₱50 labor price?

[@mariama1157]

Ok. I’m now officially binge watching your channel😂. Thank you so much I’m really writing all of those down.

[@CreativeHiveCo]

😂 I'm glad you're finding it so helpful, Mariam! If you subscribe, you'll get notified when I post new videos, too. I really appreciate you watching!

[@thishappycrafter272]

Ha! I was just going to write the same thing! Lots of binge-worthy content!!

[@kiamurray6915]

Me TOO!!! 😜😜😜 EXCELLENT CONTENT!!

[@pjbg927]

@@CreativeHiveCo qsusi jn

[@Joliv0]

Yep, same

[@BrownEyzL]

That "NO" in the background was funny. Lots of great info! Thank you so much!!

[@CreativeHiveCo]

Thank you so much for watching it, LaShawna! 💖

[@BrownEyzL]

@@CreativeHiveCo You are welcome! Great information and tools for my new jewelry business! Love your videos!!🧡

[@organicallyolivia8979]

Needed to hear this! I have been pricing as little as possible so more of my customers become regulars and buy more volume. Knowing this formula will make me feel more confident raising my prices :)

[@CreativeHiveCo]

Yes, absolutely! You definitely need to charge your worth, and you will find the right customers for your products.

[@christina6767]

Thank you for making this! I’m a new business owner and it is tough running a business. I get super discouraged because people always want free or discounted stuff. Yet I see them go an purchase from a bigger brand who chargers two times what I charge. But I’m rebranding and improving my product plus getting a website so I’m going to raise my products and hopefully I get the right people to purchase my products🙌🏽

[@CreativeHiveCo]

You got this, Christina! You are doing the best things you can to advance your business! Stay strong in your pricing and don't feel that you need to work with people who don't appreciate your work. Not every collaboration will be a good one. This video will help you find your target audience, which will be YOUR people: bit.ly/2VsuoYb

[@JasonGreenslopes]

Thank you for your advice! I just increased my ETSY best selling product by 20%. So, hopefully, the sales keep coming!

[@CreativeHiveCo]

FANTASTIC, Jason!

[@susanmiller8261]

Good job! You work hard creating and if you're not getting paid for your work you're going to end back to 9-5

[@eternalblissed]

Man it felt so good to get validated what I suspected all along! 🤣😅 I am overwhelmed with orders and truly feel I am not charging enough for my work. Thanks for this great video! Im gonna adjust my prices 🙌

[@CreativeHiveCo]

That's awesome, and I am so happy to hear that you are going to make a change! You're going to be so happy to be making more per piece.

[@patrickkhoza8472]

Thank you sister we need people like you

[@CreativeHiveCo]

Thank you, Patrick! I appreciate that!

[@Mallinity]

I'm still considering whether to sell my stuff or not and before I started watching your videos all I was thinking of was an Etsy shop! I now see that this would be a bad way to spend my time, sure, have an Etsy shop, but focus on the brand and PR. Hmm... I just need to figure that brand out first... 😅 These are such clear and helpful videos. I especially appreciate your honesty about your own trials and errors. Thanks again Mei! May you and your businesses continue to thrive!

[@CreativeHiveCo]

Thank you so much, Jem! If you would like to have some guidance along the way as you decide where to shop and develop your brand, I have lots of resources on my website! creativehiveco.com

[@DesmitskesUnplugged]

So basically, a pair of knitted socks should cost 800€...

[@tracy-eire]

Hm. How is your business going?

[@IvoryS2012]

No, 850 😅😂

[@cbpapp]

I began watching your videos and I’m learning SO much! My product is handcrafted also. I have been learning through trial and error and have been gifting my products to date. I receive fantastic feedback and many people ask if they can purchase my products, but I am not set up quite yet. I’ve been honing my craft since September 2019. I believe I have a product which is “outside the box” and believe there is a customer base for my type of creativity. I have NOT launched my business yet. However, after watching your video comparing Etsy to Shopify, I’ve decided to start with Instagram and Shopify. Initially, I was going to use the formula of multiplying my cost by 15%. However, your formula takes my time into consideration and I believe it’s necessary when you’re creating with your hands and heart! My product does require creativity, searching for the perfect elements for each “concept,” purchasing all the elements, tracking my cost, my time making my product......you know all this! I wanted to thank you for all the enormously helpful education you are sharing. Even though we are in different businesses, business advice from an experienced handcrafted product maker is worth its’ weight in gold. I am so delighted I found you and look forward to learning more! THANK YOU, Mei! Have a wonderful day!

[@CreativeHiveCo]

I'm glad that my videos have been helpful to you. Definitely don't underprice your products - that does a disservice to both you and other makers in your field.

[@FoundMyBrave]

Oh, this hit hard. I've only doubled my prices over the last year, and I have felt the struggle as a result. Thank you for this!

[@CreativeHiveCo]

Thank you for watching!

[@Kate_08]

Here is the value I gained from you videos: You asked and answered my biggest assumptions (thank you soooo much), your visuals are very clean and simple, and last, your pace and structure is perfect. Thank you for your time and support. Alex-

[@CreativeHiveCo]

Thank you so much for that, Alex! I appreciate your kind words!

[@acrafterscanvas9408]

Hello Mae. I do not know how I lost my subscription but I have not been getting your feels. So, I re-subscribed, hit the bell and a thumbs up. This again was just what I needed in my new business. By the way. This will be my third time trying to do this on my own. I think this time, however; I believe I can make this work in my favor. Thank you, Mae.

[@CreativeHiveCo]

Thank you for watching, Crafters! You can definitely do this! I've got lots of resources for you, and if you would like some added support you can join my Facebook group: facebook.com/groups/creativebizmarketing/

[@thecynthia2710]

I struggle with pricing. Thank u for this!

[@CreativeHiveCo]

It can definitely be tough but once you get the formula you are good to go!

[@yani2473]

I'm so glad I found this channel. Great content! This is exactly what I needed for my stationery shop.

[@CreativeHiveCo]

I'm so happy to hear that! Thank you for watching, Diane!

[@AlessandraNicole]

I badly needed this. I'm happy KZbin made the way for me to watch this vid!!! It helped me so much! I've been selling hand-painted tote bags and wallets for a year now but I think I price badly. :(( Thank you! 🧡

[@CreativeHiveCo]

I'm so happy to hear that this was helpful for you, Alessandra! Thank you so much for watching.

[@cybercatalogo]

muchisimas gracias por tus sugerencias en este video ..!

[@CreativeHiveCo]

Hi Luis! I had to Google Translate your comment. Thank you so much for watching!! ❤️❤️

[@fionar1656]

I'm really loving your good helpful advice thank you. I make good quality beaded jewellery. I have been making jewellery for awhile & due to health etc I had a long break. Now I'm back at it ready to relaunch my jewellery business. I'm looking for a new website that I can afford & getting ready to try putting it in shops with consignment. So I was just pricing a necklace I've made & I do have a formula but I thought I would try yours. Well your formula makes this necklace $476 retail I can't imagine it selling at that price & I can't imagine a shop willing to sell it if my retail price is that high because they'll say it's to high to mark up the price. I also tried your other suggestion in lowering my hourly wage & that made the necklace retail at $356 so still extremely expensive & I don't think it will sell at that price. I'm in Australia.

[@CreativeHiveCo]

Hi! I'd love to see how you used the Pricing Calculator for your products. Could you please send me a screenshot via email? It would also help if you can include how much your competitors usually price their necklaces with similar materials and designs. Email is [e-mail]. Thanks!

[@TheNumbaOneMiss]

I am so discouraged. I have an eBay handmade earring business and I am hardly making sales. I make maybe one sale per month. I've raised prices, I've lowered prices, I've bundled, I have free shipping, and I also lowered prices and charged shipping. I am at a loss. I have all of this inventory and it's not moving the way I'd like. 🤷‍♀️

[@CreativeHiveCo]

You need to get off eBay. eBay is not the best place for handmade sales. People shopping on eBay are looking for deals or looking for something rare or hard to find in stores. They aren't going to appreciate handmade pieces on that site.

[@1827handmade]

Wow, I've just come from a video that said cost price is just your materials and that cost + time/labour = wholesale, and retail is x2 of that. So essentially just a x2 formula. But you make some really valid points here, this is very interesting, my mistake has been thinking that materials + labour = retail price, what a laugh.

[@CreativeHiveCo]

There is so much more that goes into pricing accurately and for your worth. I'm so glad you found this video!

[@maried.2551]

I was doing the same thing....People that undercharge have other means of making a living so they don't notice it ..but you have to think about if you want to make a living doing this and end up needing to hire someone...at that cost +time =wholesale.. you couldnt even sell wholesale! You need all that extra money to pay business expenses (overhead)...all of us who do crafts part time aren't realizing just how much it would cost us if it were our only source of income as our other jobs pay rents/mortgage..... Just my two cents! (what I used to make an hour)..haha

[@rebeccacronan4016]

So helpful for me as a new business owner

[@CreativeHiveCo]

I'm so happy to know this, Rebecca! Thank you so much for watching!! Good luck on your business! ❤️

[@carinasoriasobeautifulthan6738]

I am really glad I see this video because I Was not charging what are you supposed to I think I was only getting for my materials thank you for your video

[@CreativeHiveCo]

Thank you so much for watching Carina!! I'm so happy to be of help! ❤️❤️

[@monarnyc]

New subscriber and Thank You for this

[@CreativeHiveCo]

Thank you so much for subscribing, Mona! Welcome to the Creative Hive community!! ❤️

[@adamjensen7870]

It's good that you want to charge enough that you'll still want to do it. If you're hustling around without enough pay you will stop doing. It needs to be a benefit for you and your customer!

[@CreativeHiveCo]

Totally! ❤️ It's important that we don't underprice our products. We have to charge for what our unique, high-quality handmade products are worth.

[@ShwetaTaank-v3p]

Thankyou. it was much needed

[@CreativeHiveCo]

Thank you for watching!

[@bmuir11207]

I’m feeling so discharged on pricing. I’m trying to start up a small crochet business and before I multiply my cost+materials by 2 ( I know the rule is 4) she makes comments like “no one is going to pay $5 for that little thing.” I stress out every time I have to pride something.

[@CreativeHiveCo]

I'm so sorry that someone isn't supportive of your efforts. But this is the way to price, and the correct price will bring your correct customer. Also, I always say, if the person giving you "advice" isn't in business themselves, then you 100% disregard it.

[@cl5619]

I see this formula and then I’m amazed at what is sold on Amazon for the price.

[@CreativeHiveCo]

Hi! You shouldn't really compare your prices with the mass-produced products sold on other e-Commerce marketplaces like Amazon, Etsy, eBay, etc. Handmade products has more value than mass-produced ones. Charge based on the value of your products.

[@fredericapanon207]

​ @Creative Hive I think that what a lot of people don't know is the difference between 'margin' and 'markup'. I had noticed that salespeople used margin instead of markup when calculating their sales funnels, but never really understood why. Only after three years in the estimating field was it explained to me that 'margin' is how discounts to customers are calculated. The difference is that markup % is relative to your COSTS while margin % is relative to your RETAIL price. Using your pricing formula, multiplying your costs by 4 to get your retail price (R = 4*C) means that you have a markup of 300%: (R-C)/C = (4C-C)/C = 3C/C = 3 = 300%. However, your MARGIN is only 75%: (R-C)/R = (4C-C)/4C = 3C/4C = 3/4 = 75%. What a difference! Whenever you provide a discount to a customer, that % discount is in relation to your RETAIL price, not your cost. So it can be really easy to give a discount large enough to leave you in the hole! So, assuming that you only multiply your costs by 2 for your retail price (R = 2*C), that is a margin of 50%: (R-C)/R = (2C-C)/2C = C/2C = 1/2 = 50%. A discount of 50% to a customer means that you are selling AT COST without any profit -- and arguably at a loss already if your costs do not include business overhead. A greater discount means that you are definitely LOSING money.

[@CreativeHiveCo]

Pricing is SUCH a tricky thing for so many people, and you can see how, with all the different terms that are thrown around! Thanks so much for sharing this!

[@strawverries3214]

I agree because i have tried alot of glitters but i found one that does great at customer service and makes a great product and yes they are not the cheapest but they do little things that keep me as a loyal customer. Just like you gift wrap they email to say thank you after each order as well as send a little token with the gift.

[@CreativeHiveCo]

That's really great - some companies are really good at doing this and it definitely helps.

[@MiseryWhipMetals]

The pricing issue is the hardest part

[@CreativeHiveCo]

I agree. It's one of the hardest parts. My pricing formula here could be helpful for you though: kzbin.info/www/bejne/fmTVaoBphs2hhLM You can also download a free copy of my Online Pricing Calculator here: www.creativehiveco.com/pricing-handmade-items-guide/ Hope this is helpful for you! 😊

[@senna2008]

Thanks... Just needed to learn cis ✌️

[@CreativeHiveCo]

Thank you so much for watching, Senna!! ❤️

[@RuthAnnNordin]

Don't forget taxes. Those will take a good portion from the profits for any self-employed person. I love your videos. :)

[@CreativeHiveCo]

A really good tip, Ruth! Thank you for watching!

[@monique9134]

Don't forget the packaging and shipping.. I'm using bubble envelope, jewelry box, sticker, thank you card, my packaging is 2$ plus Im thinking about offer free shipping so I calculate it in the price too which is 4$, so 2+4=6 dollar extra for the packaging and shipping.. 😊

[@CreativeHiveCo]

This is a good point! If you are offering free shipping then this should be factored into your price after you calculate you time and materials, though - this shouldn't be multiplied into your original calculations.

[@rubytogoran4709]

Enjoy watching it

[@CreativeHiveCo]

Yay! Thank you so much for watching, Ruby!! ❤️

[@momodoro7163]

Thank you for sharing all this information and awareness!!! Is super useful

[@CreativeHiveCo]

I'm so glad it was helpful, MoMo Doro! Thank you for watching!

[@witchazulystore8486]

You are amazing! Thank you for all this incredible information!

[@CreativeHiveCo]

Thank you so much for watching!!

[@kaylaturner1391]

This video was amazing!!! New subscriber here!

[@CreativeHiveCo]

Thank you so much for subscribing, Kayla! Welcome to the Hive! ❤️

[@moneyemony]

This was extremely helpful thank you

[@CreativeHiveCo]

Thank you so much!! ❤️

[@lightbe23]

Thank you , the video was profitable for me, I love the relativity in your ideas, Its very insightful

[@CreativeHiveCo]

Thank you so much! I'm so happy you loved it!! ❤️❤️

[@summerstenson9258]

Now I get it... thank you ! Until Doing your strategies for pricing and I got $140 for 4 coasters. Definitely a little confused now 😩

[@CreativeHiveCo]

Are you figuring out your materials and time for one coaster, or one set, or something different?

[@cynthiacarr3294]

Thank you Thank you I am a Newbie in Art Resin Jewelry and Freefirm Sculptures. I was wondering how to properly price my items. Researching others works became very confusing as price points varied. I'll be binge watching your channel from now on😁👏🏽👏🏽👏🏽💯 Be Blessed!

[@CreativeHiveCo]

I'm so happy you found me, Cynthia! Thank you so much for watching!

[@gabeadz1]

Wow...I forgot about this formula. And you may be right about cheap prices means more sales. I have been thinking this all the time. I will use all these tips and update my prices because at the end of the year when I see my profit and expenses, including fees, my profit is not enough :( Thanks again for this video.

[@CreativeHiveCo]

I'm so glad it was helpful for you, Gaby! Thank you for watching!

[@zyannaikigai9923]

My first thought is you are so beautiful 💜 Thank you for the business tips!

[@CreativeHiveCo]

Thank you, Zyanna! I appreciate you watching!

[@katherinemnusa]

I need this information…..ThankYou❣️

[@CreativeHiveCo]

Thank you so much for watching, Katherine!! ❤️

[@varen6290]

I'm so grateful that I've found your channel! Your info is amazing and really has me thinking! I can't wait to use this new information 😊

[@CreativeHiveCo]

I'm so happy to hear that, LeeAnn! Thank you for watching!

[@debbieburgam8161]

I use a pricing model - always! I have a hard time adding the “artistic value” to my pricing but have started. Etsy competition has taught me to price cheap …

[@CreativeHiveCo]

Hi Debbie! I'm so glad you started adding the "artistic value" to your pricing! ❤️❤️ You shouldn't compare your prices to some mass-produced shops in Etsy. Your handmade products/art is way more special! ❤️❤️

[@JohannaGodisGracious]

Thank you sooo much. THIS was exactly what I needed!!!

[@CreativeHiveCo]

I'm so glad it helped!

[@vedikabhoye]

Hey... Thank you! I actually started posting my products online and i was confused about the pricing... But thanks to you and your videos! I've watched a few of them and they're really helping me selling my art🧡

[@CreativeHiveCo]

I'm so happy to hear that, Vedika, and so happy for your success!

[@darrylgoodwin7461]

So informative!!!!!👍🏼👍🏼👍🏼👍🏼

[@CreativeHiveCo]

Thank you so much for watching Darryl!! ❤️❤️

[@Blueowl896]

Superb. I am so Blesses to have found you. 💃🌹

[@CreativeHiveCo]

Aww.. Thank you so much Tessa!! ❤️ This really made my day!! ❤️

[@BeautyBNails]

This was something u so needed I make wire wrapped Jewelry and want to start my business but didn't know how to price it thank you

[@CreativeHiveCo]

I'm so glad that it was helpful to you! Thank you for watching!

[@meganwood1564]

I needed this validation tonight. Thank you! So helpful

[@CreativeHiveCo]

Yay! I love hearing that Megan!

[@karlarocha5286]

I love your videos, I’ve been learning a lot with you! Thank you so much ;)

[@CreativeHiveCo]

I'm so glad to hear that, Karla! I really appreciate you saying that. 😊

[@danaemccoy3868]

Thanks for sharing the pricing format I’m definitely going to use it!

[@CreativeHiveCo]

Thank you so much for watching Danae!! Glad you found it helpful!! ❤️❤️

[@diekcelina5398]

Thanks for this i need this !!

[@CreativeHiveCo]

You're most welcome! Thank you so much for watching! ❤️

[@diekcelina5398]

@@CreativeHiveCo ❤️❤️❤️

[@mosaiartjewelry5113]

Thanks for this 💡 idea

[@CreativeHiveCo]

You're most welcome!! Thank you so much for watching!! ❤️

[@Beadofgoodcheer]

Fantastic videos! Every last one..I agree w the comment below. I’m officially binging on your videos now as well👏🎉

[@CreativeHiveCo]

Awww, thank you, Julie!! 💖💖

[@davidspann2847]

Everytime i sell products this customer wants me to lower my prices and give less every time

[@CreativeHiveCo]

When you've got customers always trying to haggle for discounts or more for less, it can be tricky. You've got to set clear pricing policies that show the value of your products and the effort you put into making them. It helps to stick to your guns and explain why your prices are fair.

[@catherinedilworth1363]

I enjoy your videos; you are smart and informative. Thank you for all of them.

[@CreativeHiveCo]

Thank you so much for the kind words, Catherine! I'm so happy you're enjoying my videos! ❤️

[@lauriebonfanti3018]

Thank you for this information. Very helpful and you are interesting to listen to. You seem very kind. In my book that is the best character trait anyone can have.👍👍👍 I am a dog walker but have made a few things for my dog customers for Christmas gifts. Now their owners are asking to buy some of my items. I almost just gave them to them. Thank God my daughters stopped me from doing that. My biggest problem is I have no idea what to charge. Now I do and everything you said makes sense. So, again thank you. I am gonna keep watching your videos!🙏🙏🙏 Keep smiling🌞😀

[@CreativeHiveCo]

Aww. Thank you so much for your lovely comment, Laurie!! It really means a lot to me!! ❤️ In case you need it, here's a link to my other video about pricing your handmade products: kzbin.info/www/bejne/fmTVaoBphs2hhLM Good luck!! ❤️

[@Thenaturedesignco]

Great video, I agree with this wise insight. I am getting my Etsy store started up, and I will be selling prints, and 3d products eventually. Grateful! I will watch more of your videos!

[@CreativeHiveCo]

I'm so glad you found it helpful! Thank you for watching! Good luck with your business! ❤️

[@andreainpa5739]

I found this to be a very useful video.

[@CreativeHiveCo]

Glad it was helpful!

[@quiltie1774]

You are informative and easy to listen to. Thanks for sharing your knowledge.

[@CreativeHiveCo]

Thank you so much!! ❤️❤️

[@Deezigns]

Hi Mei, Thank you for sharing all your helpful information.

[@CreativeHiveCo]

Thank you so much for watching, Deezigns!

[@shellarain]

Thank you, i am starting a new business selling body butter, body scrubs, body oils, and your video was helpful. I even subscribed !

[@CreativeHiveCo]

Thank you so much for subscribing, and good luck with your new business!

[@michaelahlafsonkova]

I love your content and so far I’ve seen only 2 videos but you answeared soooooo many questions about pricing, thank you very much🙏🏻

[@CreativeHiveCo]

I'm so glad to hear it! Thank you for being here, Michaela!

[@blancagrosjean443]

Great information! Thank you so much for sharing. This has been very helpful. 👍🏼

[@CreativeHiveCo]

I'm so happy to hear that! Thank you so much for watching, Blanca!

[@ashmitachetri8810]

Learned alot🙏

[@CreativeHiveCo]

That's awesome!! I'm so happy to hear that!! ❤️

[@josipbaric4892]

Thanks for so much insights, I'm about to open my first Etsy shop, and my wife is reluctant about me pricing my products high as I will, my huntch was right.. . I will make her see this video.

[@CreativeHiveCo]

Thank you so much for watching Josip! I'm so glad this video has been helpful for you!! ❤️

[@kylemichael6088]

This is super helpful. Its superhard to price my jewelry so thank you for this info.

[@CreativeHiveCo]

Glad it was helpful! Thank you for watching, Kyle!

[@carolinebradner8002]

This is so helpful. I would have walked smack into these mistakes...thank you thank you thank you.

[@CreativeHiveCo]

I'm glad this was timely for you, Caroline! The last thing you want is pricing errors.

[@Rivergirl2878]

You are exactly what I was looking for.

[@CreativeHiveCo]

I'm happy to hear that! Thank you for being here!

[@SweetKel]

I really appreciate this, but it's troubling. I looked at dozens of others who do a similar thing to what I do. If I match those prices and stay competitive, then there is no doubling...not two times and certainly not four times. My materials cost twenty. My labor is three hours at $15. I've been selling at $77 and have all the work I want. There are many on Etsy charging under fifty for a similar craft. I trust you though and will give it a shot.

[@CreativeHiveCo]

This is unfortunately what happens when people underprice. Your costs are $65 and you are making $12 on each product. That isn't even enough to purchase materials for another. If you aren't comfortable with the 4x formula you can start smaller.

[@SweetKel]

@@CreativeHiveCo Thank you

[@inicreativeminds1588]

Hi Mei, Again very useful and certainly enables me to home in on the formula plus value methodology. Thank you again. Kuljeet

[@CreativeHiveCo]

Glad it was helpful to you. I hope you will be able to use the information in the future!

[@marvelpovs2412]

I know this and make earrings. But I can’t justify selling a single pair for $30+

[@CreativeHiveCo]

If you're a bit worried that your price is too high, you can try looking for suppliers that can offer your raw materials at a lower price or try to streamline your process to cut down on your production time. I think $30+ for a pair of high quality lovely handmade earrings is totally okay and with proper marketing (to the right audience), it's not impossible to sell them. If you're interested, you can watch my free workshop for some helpful tips and ways on how you can market your products effectively. Here's the link to register: www.creativehiveco.com/profit/? Good luck! ❤️❤️

[@annagaluszka26]

Lovely video. This is exactly more less how I planned my pricing. 😍

[@CreativeHiveCo]

That's great! It's nice to know you are on the right track.

[@michaelfitzgerald9622]

thank you for these video

[@CreativeHiveCo]

Thank you for watching, Michael!

[@bacruz90]

Hello. Do you have a video on how to determine material costs? Like generally what to include

[@CreativeHiveCo]

Hi Brenda! My pricing formula here could be helpful for you: kzbin.info/www/bejne/fmTVaoBphs2hhLM You can also download a free copy of my Online Pricing Calculator here: www.creativehiveco.com/pricing-handmade-items-guide/ Let me know if you have any questions. 😊

[@jeimy5207]

Thank you for your amazing videos! I completely understand your formula, but I am not sure if I can price by 4 or even by 2 😞. I'm am a complete noob on handmade business. I haven't even sold anything yet. I'm actually super lost 😓.

[@CreativeHiveCo]

Not only can you, Jeimy, you should! If you are pricing too low then you aren't giving your customers confidence in the quality of the item, and you are also esentially working for free.

[@GABISHOO]

thank you !

[@CreativeHiveCo]

You're most welcome!! Thank you so much for watching!! ❤️

[@adoral.libertucci2647]

This is brilliant. Thank you!

[@CreativeHiveCo]

Thank you so much for watching!! ❤️

[@deborahshaw6822]

Thank you, did help with formula . I am going to start implementing it. ☺️

[@CreativeHiveCo]

Wonderful!! Let me know how it goes Deborah!

[@reesefewell3207]

That was super insightful, I am definitely going use these tips!

[@CreativeHiveCo]

I'm so glad to hear that, Sherese! Thank you!

[@joshuaporter4277]

Love your price set up thank you 😊

[@CreativeHiveCo]

Thank you, Joshua! ❤️

[@rainbowbrendakeeling2069]

Me too I love your teaching style.

[@CreativeHiveCo]

Thank you Brenda!

[@aaronramsden1657]

This comment is to show appreciation for your hard earned knowledge

[@CreativeHiveCo]

Thank you so much Aaron!! I really appreciate it! ❤️

[@JayJay-g9s]

Thanks for this. When you say raise the markup from overwhelming orders, how do we find the appropriate number to raise the markup by? Do we change the first or second markup?

[@CreativeHiveCo]

It depends on your pricing structure. If you have a two-tiered system where the first markup covers costs and the second is for profit, consider adjusting the second markup first. However, a holistic approach might involve tweaking both markups proportionally.

[@FoxyL8814]

Thank you so much I wish I watched this video last year because I did that mistake lower my clothing prices and ended up not making profit but instead taking more out of my pocket 😪

[@CreativeHiveCo]

It happens to so many of us, Shanise! The important thing is you know and it can be corrected going forward.

[@rubytogoran4709]

Thankyou

[@CreativeHiveCo]

You're most welcome! Thank you so much for watching, Ruby! ❤️

[@ejayfernandes8121]

Knowledge bomb right here folks 🤯

[@CreativeHiveCo]

Thank you so much!!!

[@barryvale7033]

Thanks for the advice its help me a lot.

[@CreativeHiveCo]

Glad to hear it! Thank you for watching, Barry!

[@rivkahr336]

Thank you so much for all you share!

[@CreativeHiveCo]

You are so welcome! Thank you so much for watching. I'm going to be doing a live workshop here today! If you're subscribed, hit the bell to be notified when it starts!

[@starktrish]

Great information. I'm confused about one thing. You mentioned that the second time you get paid is as the business owner. However, my understanding is that the entire amount isn't profit because the costs of running your business come out of that first and then the rest is profit. Am I understanding this correctly? So if I lower my hourly pay, it also lowers the amount of money available to put back into my business. Yes? Please help 😁 and thank you.

[@CreativeHiveCo]

In a way, yes, but this thinking is to help your items sell. If they are priced too high and you don't have any sales, you are cutting profits entirely. Also think about the fact that if you were to hire that job out to someone, what would you pay them hourly for that work? That hourly rate wouldn't be going back into your pocket so you may want it to be slightly lower.

[@starktrish]

@@CreativeHiveCo thank you for always replying. You're the best!

[@rechelleestorba6354]

Thank you for this.. always informative! ♡

[@CreativeHiveCo]

Thank you so much for watching!

[@msprettyeve]

Thank you so much,now I learned how pricing goes :)

[@CreativeHiveCo]

So glad I could help! Thank you so much for watching!

[@koshersalt951]

this video was great. i really did enjoy it. thank you so much

[@CreativeHiveCo]

Glad you enjoyed it! Thank you so much for watching!

[@cheryllynnalston-morton9512]

Thank you so much for the information!!🤗😁🥰

[@CreativeHiveCo]

Thank you for watching, Cheryllynn!

[@ZivaHadar]

Super helpful!!! Thank you so much!!!

[@CreativeHiveCo]

I'm so glad to hear that! Thank you for watching!

[@nastiacraigart]

Love your content! Thank you very much ❤

[@CreativeHiveCo]

Thank you so much, Nastia!! ❤️