Mini Interview: Mayi discusses the idea behind her creative business, pricing your products, and her one tip she wants to share with you if you’re starting a creative biz:
1. I’m a big fan of your headbands and accessories. Where did you get the idea to make and sell them?
Awwww thank you April. That means so much to me. I wish I could tell you it was a one of those light bulb moments, but it wasn’t. The idea grew organically.
Let me rewind to a month before opening my boutique. I had just quit my 9-5 traditionally successful job + I as stuck, artistically that is. At least that’s what I thought.
You see, my forte had always been painting. It’s even what I went to art school for, so I assumed that artistic independence for me meant going back to the studio, whipping out a collection + pitching it to an awesome gallery + selling out a show + being rich + famous. Gosh I was wrong.
I tried so hard to force that mold on me. I failed miserably.
Thankfully, I had my parents to feed me + David to hug me + my 83 year old grandma to guide me, just like Master Yoda would. That eased things up a bit.
With a lot of time in my hands + a big studio filled with materials, I rolled up my pajamas sleeves + I began to play. I scribbled + I baked tons of cupcakes + I jammed my Hello Kitty sewing machine + I crafted like if there was no tomorrow. I was on unstoppably on fire.
One day, I was approached by a lady at my local supermarket. She asked me where I got my headband. I said, “Oh, I made it”. To which she replied, “I want one in every color, where can I go buy it?”.
I launched my shop + made my hair accessories my signature product. It felt right.
Now I have fascinators + DIY kits + paper goods + even started painting again. Go figure.
Phewww. That was a long answer to your question! I got excited. LOL.
2. You’re also a rock star creative coach and I want to tap into that expertise. A lot of creatives struggle with pricing their products and services. Can you provide some guidance on pricing?
Easy. You go to a Tarot Reader + she’ll give you the magic number.
Pricing is one of those tricky subjects, for sure one of the biggest struggles my clients face, precisely because there’s no bullet proof formula.
My philosophy on price tags is more heart made (no pun intended) or intuitive. I don’t crunch numbers. I just don’t. I ask questions. Questions like:
– What’s the quality of the materials used?
– What’s you’r level of craftsmanship?
– How’s the product packaged + presented?
– What’s experiences are created when consuming the product ?
– What are you’re credentials?
– Is the item one of a kind + few of a kind + made for the masses?
– Is it a necessity or a luxury?
– Are you high end or affordable?
– What does your ideal customers think your product is worth? (Your mom doesn’t count).
– What are your idols charging?
– What dreams for the future do you have for your brand?
– What is it worth to you?
– What would you love your monthly gross sales to be?
– How many items do you have to make + sale to reach that number?
These are just some of the hard question you should be giving answers to before pinning a value to your items. Hopefully they’ll help you create a blueprint, your blueprint, one that works for you.
3. If you could only give one tip to someone starting a creative business, what would it be?
Oh easy. My advice would be: “make friends not fans”.