MEGAN AUMAN

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the cost of the cozy/cuff, part 2

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I’m going to do my best to keep this from becoming a rant, but no promises.

Today, Etsy included a link to the cozy/cuff on their facebook page. For the most part, this was amazing. My page views blew up, and several people purchased cozy/cuffs of their very own.
But the link also sparked an interesting discussion about the price. More than a few people thought that $32 was an exorbitant amount of money to pay for the cozy/cuff. There were some people who jumped in to defend the price, but there were a lot of people that seemed to think I am making some ridiculous profit on the cozy/cuffs.
I am here to tell you that is just not true.
Here is just a small sampling of the cost factors that go into the cozy/cuff:
1. The Etsy costs are retail costs. When I wholesale the cozy/cuff, I have to cut the price in half. Which means I still need to build in profit for a wholesale price. And let me tell you, the profit margin on my wholesale price is pretty slim.
2. The cozy/cuff is made in small batches in the US. (If you read my original post – the cost of the cozy/cuff – you already know this.) And when you are buying materials and making products in small batches, the price is always going to be higher.
3. Not only do I not make the cozy/cuff in China – but I don’t live in China either. And you have to factor cost of living (not to mention cost of working) into the price of the objects. (Or the workers wages.) And while I don’t live in the most expensive part of the US, I certainly don’t live in the one of the cheapest places in the world. And I think its only fair that I pay myself a living wage. (And if you don’t believe that workers should be paid a living wage, please stop reading my blog. We cannot be friends.)
4. You also need to take into consideration the fact that the cozy/cuff is a bracelet. Here’s a little math for you: today I had a cozy/cuff on my person for approximately 9 hours. For 8 of those hours, it was on my wrist. It was on my coffee cup for about an hour. (Probably a little less than that, but its easier to round.) So given those numbers, 89% of the time, the cozy/cuff functioned as a bracelet. And $32 is a pretty reasonable price for a cuff bracelet. (Its actually fairly consistent with the pricing of other cuff bracelets.)
After all this, its pretty clear to me that I should do a better job marketing it as a bracelet first – one with the added bonus of being a coffee cup cozy. Hopefully that will help justify the cost in some people’s minds.
I should also probably stop reading internet discussions of my work.

help please! (you could win a cozy/cuff)

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I’ve been working on lots of new promotional materials to get ready for the gift fair – postcards, and catalogs, and the new website – but I keep getting stuck every time I try to write the copy.
At this point, I’m just a little too close to the product. So I need your help!
If you were writing about the cozy/cuff, what would you say? How would you describe it? What are its benefits? Can you describe its style and function in one short sentence? What aspects about it do you like best?
Leave your thoughts in the comments, and I’ll pick one winner to send your very own cozy/cuff!
Thanks in advance!

the new shopcozycuff.com

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Apparently, I’m all about launching new websites lately, because in addition to crafting an MBA, I recently re-launched shopcozycuff.com.
Where before it was purely an information site, its now a fully-formed e-commerce site, thanks to bigcartel.
So head on over and check it out! And as as a little thanks to all my blog readers, use the code BLOG2010 and take 10% off your first purchase! (Good until Wednesday, January 6th.)

crafting an MBA – business thinking for designers & makers

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I alluded to it in my last post, but I wanted to officially announce the launch of my new website – crafting an MBA – business thinking for designers and makers!
Its seems long overdue that I would start a blog focused on business thinking – its something I always love to talk about. Over at craftMBA, I’ll be sharing useful tips on running a business, marketing, pricing, social media and more, my recommended and currents reads (which are sure to triple since I got a Kindle for Christmas!) and my thoughts on trends in the craft and business world.
Its only because of the support I’ve received on my business related posts here that I had the courage to start crafting an MBA, so thank you! Won’t you join me in my new space? The new year seems like the perfect time to focus and get our businesses into shape!
(No worries, I’ll still be blogging here as well.)

my year (and decade) in review

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The Personal MBA has a really great post up about taking some time to review your accomplishments at the end of the year. Its likely that you’ve reached the end of the year feeling disappointed at what you haven’t accomplished (which is how I feel all the time) but by taking the time to list out what you’ve done, you should realize that you’ve accomplished a lot.

(I sure hope that’s the case, because reading the list of Josh’s accomplishments at the Personal MBA has just made me feel more inadequate.) So here’s my list:
In 2009, I:
  • launched a new line of home decor goods at the New York International Gift Fair.
  • traveled to Arizona, Ohio, and New York to speak to students at Arizona State, Kent State, and FIT.
  • traveled to San Francisco to participate in the SFMOMA trunk show for the second year in a row.
  • taught 5 classes at Towson University (including integrating new assignments and processes into the curriculum).
  • exhibited at the Museum Store Association Show and NYIGF.
  • designed and launched the cozy/cuff!
  • completed 2 triathlons.
  • coached middle and high school cross country.
  • traveled to Washington, DC to advocate for bicycling.
  • organized a fundraising bike ride.
  • launched a new website dedicated to business thinking for designers and makers. (This one’s so new I haven’t even posted about it on this blog yet.)
And since its the end of the decade, Josh recommends looking back at what you’ve accomplished in the last 10 years as well.
In the last decade, I:
  • graduated from Syracuse University with a BFA in metalsmithing (and with honors).
  • designed and implemented a program with my Residence Hall Association that won National Program of the Year.
  • received an MFA in jewelry/metals from Kent State.
  • was awarded a SNAG Student Scholarship.
  • was a Searchlight Artist at the American Craft Council Baltimore Show.
  • was a Visiting Assistant Professor at Towson University my first year out of grad school.
  • have continued to teach at Towson, where I helped redesign the intro metals and jewelry class.
  • presented “Navigating the Web 2.0” at the SNAG Professional Development Seminar in Savannah.
  • traveled to Santa Fe to consult with Patina Gallery on using web 2.0 technologies.
  • started this blog and launched my Etsy shop.
  • participated in many retail craft shows.
  • got married.
  • bought a house.
  • adopted a dog.
  • ran a 1/2 marathon, a lot of 5ks, and completed 3 triathlons.
  • won a 5k.
  • coached middle and high school cross-country for 3 seasons.
After making my list, I’m still not completely satisfied. Perhaps I’m too much of a perfectionist, or need a serious self-esteem boost. Or perhaps I should take my own advice and do some big picture goal setting so that I can look back on the next decade with more satisfaction.

"packaging"

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So I guess I wished everyone happy holidays a little early, because I still haven’t started my Christmas vacation yet.
I’ve been working on some new “packaging” for the cozy/cuffs. While they’ve been selling really well online, I’m having a little trouble with them in retail venues. Online, I can totally communicate all the product uses with a few good photos, but in person they are hard to understand.
Ok, that’s not entirely true – if you see one being worn or used on a coffee cup, they make perfect sense. Its just in a retail display, they are a little tricky. And with the gift fair right around the corner, I really need to resolve that.
So I’m trying to work on a tag that clearly displays the dual function of the cozy/cuff, without bogging it down with excess packaging. And since I took some new product shots that I’m totally loving, I’m working on incorporating those into the “packaging.”

happy holidays!

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How can you resist a face like this?
Thanks for all your support in 2009! Have a safe and happy holiday season and a wonderful new year!
And if you’re lucky enough to have a white Christmas (like it looks like we will in PA) go out and enjoy it!