Step #1: Drop the wholesale business. Done!
Step #2: Revisit pricing.

Dropping wholesale led to thoughts on pricing. For now, I’m concentrating on JewelryObsessed, as that inventory is currently at full retail. DanceTheMoon has “old stock” that’s already below wholesale. (Though that will probably change, too.)

Do I need that cushion between wholesale and retail prices now? If not, how can I give my retail customers the best deal, without going broke and getting the lights shut off?

A bit of number crunching revealed that yes, indeed, lower retail prices will work. Not only that, but I can throw shipping in on the deal! Whoa!
Not only that, but my prices were a bit high for jewelry on Etsy. This will put them right around average.

Right here is where I want to give you a head’s up on a great spreadsheet for pricing handcrafted work. If you haven’t tried Chris Parry’s Excel sheet, you’re missing out. It’s a real eye-opener. There’s actually two sheets: One is good for jewelry and other things that have more precise expenses, the other you’ll want to tweak to fit your art/craft. They’re both amazing – and free.

Sooo… this weekend, you’ll find me at JewelryObsessed:
Step #3: Set up new shipping profile.
Step #4: Change prices.
Step #5: Revise policies.
Step #6: Revise shop announcement.
Step #7: Freshen up existing listings, new photos; freshen profile.
Step #8: List more jewelry! Now that I know where I’m going with this shop, I can get busy with it :-)
Of course, 7 & 8 aren’t weekend projects, and will be ongoing.

In the meantime, do try out those spreadsheets and let me know what you think. I just might share some tips and tweaks in the future… ;-)

Off to refill the coffee mug… Talk to ya later :-)