•Your formulas and insight are very interesting. I have used a different formula, based on the Market Price (what customer is willing to pay). Market Price minus (Materials + Overhead) = Wages per item. Wages per item, divided by minimum wage per hour (because you don’t want to pay yourself less than that) = number of minutes you have to make that item. •If you can make your product in that amount of time, it is worth your time to make it. If you can’t make it that fast, you would want to pick another item to make. •I use US and California state minimum wage as a starting point, but someone else could decide their individual or local minimum wage, as a starting point. (Also we want to grow beyond minimum wage over time too.) •I am also interested in what you said at the beginning, that we should choose to make what will benefit others as well as ourselves. If it is only benefiting ourselves, it is a hobby. If it benefits others and ourselves, it can be a business. •Hobbies are good too, in their own place. It is when hobbies and businesses get mixed up that there is suffering. •I believe formulas are interesting because of what they reveal about what we choose to make. •From your formulas, I learned several things I had not investigated before. Especially, it teaches why it is helpful to look at several formulas even if I will only choose one price. •Also I like your reasoning on why not to do wholesale for handmade goods. •I can see how you will help many people to learn to make good choices from real information. Because it is sad when someone fails, especially if they don’t know why. I hope you will continue to share your insights with others. •Effort alone does not create success. Effort + informed choices is the road to success. •This is all very helpful, thank you. 🙏✨🕊 P.S. I liked your comment on the hummingbird video, I replied there too.
This is such a sweet comment on my page, I really appreciate it! Thank you for watching my videos and appreciating the same, means a lot to me. Also, loved your insight on the pricing technique you use, thank you for sharing it in details 😊
