What common pricing mistakes prevent artists from building successful businesses?

Pricing issues are a graveyard for hobbyist artists who could have healthy businesses. Common mistakes include: pricing too high, but more commonly pricing way too low; not having the proper range of pricing options; selling only originals without offering prints, so your entry price starts at thousands of dollars; and getting entrenched about offering only one specific type of print because you believe your work ‘only looks good on this.’ Artists often decide what the market wants without getting any feedback, becoming dug in and unwilling to offer different product options that would actually help grow a good business. These beliefs and pricing approaches leave massive amounts of money on the table.

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Asked by synthesized from teaching · Answered by Patrick Shanahan · art-marketing-podcast · 2021-07-19