How I manage my small business finances & price my products
(a thread)

Before I launched my shop, I worked in market intelligence and account management so I’m comfortable thinking about money & using spreadsheets to organize data but you don’t need any of these to be successful bc I’m here to help & spread my knowledge

When I first started my shop I paid for 3 months of rent in advance w my savings from my last job so I knew how much money I could use to building out my business - I still pay for rent in advance when I can so I can manage my investments without overspending

I keep track of every single thing I purchase in a spreadsheet from shipping materials, thank you cards, prints, etc. and calculate the *unit price* for everything so I know how much it costs to package and ship 1 print.

For example if 100 boxes costs you $100, then you know that each box costs $1 and you can include that into the price of your products. I do this for all my materials to come up w a unit price for my own products

Once I have the unit price of my product, I decide on how much I want to sell it for. Remember that you are allowed to profit off of your own hard work!! You are making a living out of your creations and in order to sustain it, you need to make money so make it rain baby

As a small business owner, you have the power and authority to teach ppl how to value you and your work so don’t be afraid to do so. Those who appreciate it and understand its value will buy it & those who don’t...won’t

It only takes 1 person to make a sale so turn your energy to those who respect you enough to respect your prices & don’t worry about the people who don’t. You got this. Your work is amazing. You have all the tools within you to succeed