V - Value Your Time and Work

Value Your Time and Work - Crafters and artists face a lot of competition when trying to sell their goods. Sometimes it is tempting to lower prices to compete with all of the other art businesses online. Though this is tempting, artists should never sell themselves short by devaluing their work. Instead, hold the work to a higher standard and take pride in your ability to offer a unique, high-quality product that customers will recommend to friends and family.

Though artists need to price their work realistically to compete, they need to find a comfortable price point that will provide them with an adequate hourly income (see L) and still produce regular sales. If the work doesn't sell at the price, it may need more advertising, marketing or exposure at art shows and events. Don't immediately drop prices if items aren't selling. Instead, give the business time to build a loyal customer base. This could take six months to a year. If, after the first year and excessive marketing, the sales are still slow, than it might be time to think about slightly lowering prices.