Shalom's Cottage Home Blog

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Rock Island, IL, United States
Hi, I'm Shalom. Artist, crafter, gardener, flea market enthusiast, bargain hunter, and lover of flavor. Welcome to my journey!

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Tuesday, July 27, 2010

Quick Tip: Do Less Make More

Want to know how to make more money by doing less? Don't be alarmed. This is not one of those "work at home and make zillions" scams. It's a very simple concept, actually. It's about changing the "perceived value" of a product or service so that you can charge more, without increasing inventory costs or production time.

For instance, this year I started designing and selling wedding invitations. I use the same paper to print my invitations as I do for my note card sets. The wedding invitations use about 25% LESS paper than the cards do, yet I have them priced at 40% MORE per piece than the cards. And they SELL. Very well, I might add.

There are a few things I attribute to this success model:

1) The invitations are a unique design that you can't get anywhere else.

2) I offer customization options and a level of personal service that is simply not an option with the "bigger" companies.

3) My prices are very competitive compared to similar invitations found elsewhere.

4) Wedding Invitations have a built-in higher perceived value (in the customers' eyes) due to the nature of their importance.

5) It takes me less time per piece to actually make the invitations (as opposed to the cards) and so I'm able to put that extra time savings to use elsewhere - designing new products, taking more orders, etc.

It's that simple. Think about it. How can YOU "do less and make more" too?

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