I recently sat down to talk to a SCORE counselor about my business plan. (If you’ve never heard of SCORE, it stands for Service Corps of Retired Executives and is a HUGELY valuable resource for business owners trying to figure out what the hell we’re doing.)
He liked everything I was saying, until we came to the number crunching section.
“You’re…wait, let me get this straight. You’re buying at a 20% markup and selling at a 20% markup?”
“Well…yeah. I want the author to make money, so I’m paying them above their cost–“
“No. You’re selling at a 20% above your cost markup??“
“Um. Is that…too low…?”
Suffice it to say his answer began with YES. And went on at some length as to why.
I checked with a couple other business-savvy friends, who admitted that they’ve been biting their tongues for some time about my pricing strategy. SO.
Them prices, they’re going up. Sorry, everyone, but I got to pay for stuff like web site hosting and vendor tables and hotel rooms and inventory and office supplies. And I ain’t Big Lots. I can’t afford that thin of a margin. One day, maybe, but not today.
HOWEVAHH. Because I don’t want to COMPLETELY sticker shock everyone, I’m going to put the new prices into effect at the beginning of June. That’s a week from today, more or less, so if you’ve on the fence about a purchase and price is the tipping point for you–grab the item now. I’ll honor all purchases made 5/25/2016-5/31/2016 at 5 pm EST at the current prices. After that, the markup goes to 50% above my cost. (No, I can’t pay the writers more. That would kind of defeat the point. Besides, part of that markup covers the fact that I’m running advertising campaigns for these folks at no charge to them. So in a sense, I’m being paid for services rendered, just on the back end and at my own risk.)
IF YOU PLACE A PRE-ORDER FOR CON-GREGATE 2016 before the 31st, I WILL HONOR THE LOWER PRICE. Yet another reason to take advantage of our fabulous pre-order system. 🙂
Oh–as a side note–the Facebook page has been deactivated for various personal reasons. It may or may not return. I am still active on Twitter, though, so take a look there: @scribblinglion
Thanks for being part of this adventure, and for your understanding as we catch up to logical business practices! 🙂