Because I am a nerd, I actually read Inc.com on an almost daily basis. I love to see what new stuff they have, and fairly often, I find an article that seems to have been written especially for me and my handicrafts. Yesterday was no different. The debacle: are you pricing your items as if you want quantity of sales, or quality of sales?
The article is written by Jason Fried, cofounder of the software company 37signals. He writes about how his company went about pricing a new app (called Draft) that they had created. Almost all the other apps like it ran around $1 each. Draft was priced at $9.99. Why? Nobody would buy it!
That was precisely the idea. By reducing the amount of customers that would purchase the app, 37signals would be able to focus less on dealing with the enormous supply and demand issues they would face, and work more on delivering a truly remarkable experience to each customer. So now I ask you. Are you pricing your work like you want to churn out a lot of it, and as fast as possible? Or are you charging an amount that will allow to slow down and focus on creating a memorable transaction? There’s not necessarily a right or a wrong, but it’s something to consider. Tell us what you think in the comments below.