The Frugal Tycoon's Money-Saving Tips

Marketing and promotional materials are an essential part of building a small business and getting your name and product out there.  The costs of these materials can be prohibitive to a budding tycoon, though.  Through research and happy accident, I've found a few ways to save money on these promotional materials. 

1.  Make mini cards.  Buy pretty blank cards from the dollar store, and cut them into 1-inch strips.  Using a nice marker, write a personal note to the buyer on these and slip them into the package before shipping.

2.  Make your own promotional literature.  If you don't have Microsoft Publisher, consider investing in it.  I've used it to design my own business cards, flyers, craft booth signs, and e-invites for beading parties.  I printed my own colour flyers, on my ink-jet printer, on normal office paper.  After looking into the price of printing 50 colour flyers at a print shop, I figured that it was cheaper to buy a new colour cartridge just for this purpose.  I got 50 copies, and there was still lots of ink left.  Of course, this is economical only if your printer's cartridges aren't atrociously expensive (mine, thankfully, aren't.)  The flyers look great, and the whole thing cost about $30.00. If you don't want to buy Microsoft Publisher, you can download a trial version that lasts for about a month. 

The Eternal Question - What is My Stuff Worth?

When I first started selling my jewellery to friends, co-workers, and at a couple of small local legion craft sales, I used this formula for deciding what to charge for my work:  What would I pay for this?  The problem with this method of pricing is twofold. First, I'm extremely frugal (read cheap.) Secondly, I tend to undervalue my work and my time.  When I decided to register my business and really make a go of it, I began reading other jewellery designers' thoughts on the matter of pricing your work, and I began to realize that I was selling myself short.  I used to concern myself only with covering the cost of the materials, and maybe make a little bit of profit.  I didn't consider all the other costs of running a jewellery business, like marketing costs, website fees, packaging, shipping, displays, show fees, a tent for outdoor shows, tables, replacing and upgrading tools, computer software for accounting and tweaking photos, and classes for learning new skills.  If you're not pricing your stuff to cover these costs, and making a bit of profit on top of that, you're not going to be successful.