Oddbean new post about login | logout Guys. I'm thinking about reducing my prices by a large amount. Something crazy like 80% and basically work for free. Would you be in? I kinda just want to get to work. I probably won't do it tho. Just thinking out loud.
No. I like paying what it costs. Lets me know I’m getting a quality product. I don’t want your charity. I appreciate your craftsmanship. You deserve an appropriate price.
Seconded!
What you make is art. It may feel different because it's functional art, but it's art nonetheless. People who buy art don't buy it because it's cheap. They don't wait for prices to come down or sales to happen. They buy it because they like it and they want it, numbers be damned. Don't lower your prices. Increase them. Any time you have doubts, increase them. Any time you up your craft game, increase them again. If anything you'll weaponize people's FOMO. "If I don't buy now they'll only get more expensive!" "Holy bananas you have a LeatherMint belt?!" "Yah I got in early; sure glad I did!"
What if I'd like to make this art more accessible? Until the price pump. I have to deserve high prices and I'd like to work to deserve it.
That's a tough one. Making something accessible usually either means low prices via high volumes (via automation, process simplification, lowering quality / QC, etc), or sacrificing being able to make a living via your art. And when we create, we tend to struggle to value our creations the same way our potential customers do (especially wealthy ones).
Offer your products elsewhere for fiat with a 27% uncharged. But offer 20% off if they pay in bitcoin. 😎 If you start working for cheap, quality will go down because you'll be rushing to get stuff done missing the details. My wallets are are still looking like the day I got them and I've had them for about 2yrs now!