There are a lot of myths floating around out there about pricing. These myths cause pitfalls many an artist and crafter (newb and seasoned alike) have fallen into when pricing their wares. I am here to vanquish these fell beasts!
Myth #1 – You should only be compensated for the time you are actively creating. All the other “work” doesn’t count.
Everything I do is needed to run my business.
If I did the design work but outsourced the sewing work, I would pay the seamstress.
If I hired an assistant to handle my customer service, I would pay the assistant.
If I hired a model and photographer, they would either be paid in cash or goods.
(I wonder if the above model was compensated in doggie treats?)
Each part of my process is a job I would have to pay someone to do if I didn’t do it. If I do it, then I pay myself (or try to).
In response to this idea, some people like to say things like, “I’m a teacher, and I don’t get paid to grade papers at home or have meetings with parents after school.” That’s a very flawed argument. If those things are expected and required as part of your job, then your salary is intended to compensate you for it.
There are two reasons you should make sure you compensate yourself for ALL of your work.
The first is that you deserve to be paid for the work you do. Don’t let anyone make you think otherwise.
And the second is more important. Should you need to someday outsource a task you currently complete yourself, you need to be able to pay for that from the price of your goods.