I like this. I've experienced the same thing. I've made simple cabinets, bookshelves, or "Pinterest" items for folks at cost or even free if it helps someone in need. Serving on my church's handyman crew fixing roofs or building handicap ramps when the need arises. Just serving others and trying to be as much like Jesus as I can...... word of mouth in a small town like mine is everything, and people value dealing with someone they trust much more than what it costs.
3 days ago
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I'm currently working on a what not/knick knack shelf. I'm using wood taken from pallets and dressed the best I can. I'm charging $25 for the shelf. I'd rather sell em for that, than keep em for more. All proceeds are being used to help my niece pay for my sister's final expenses. I'm not keeping a penny. Every cent goes to help her. I know I'm probably losing money but Some things mean more than the price tag you put on em. Had some luck so far, sold 8 of them and haven't even advertised it on SM yet. Some things mean more than money, even if that's the ultimate end result. Now, a life lesson. As a boy, my great great uncle lived with my grandparents. When he passed, I recieved some things he'd left to me. Hats, canes but the most valuable. A 1946 Philco AM radio. (Which still works btw) I'm not the least bit interested in selling it but I wanted to know it's worth, so I called a local radio station owner and dj who fixes and sells antique radios and asked.... His reply.... It's worth, what you sell it for. You might sell it today to one person who'll give you a thousand for it. Tomorrow, you might sell it to somebody else for a dollar. It's worth what they'll pay for it AND whatever you sell it for. I do woodworking as a hobby. Frustrating as it can be, it helps me relax. I'm not one bit interested in being big time. I WAS, but meeting deadlines is hard when mother nature determines when you can and can't make sawdust. I'd rather sell the shelves for 25 than keep them for 26.
1 day ago | 0
Very true statement! Took me a little time to realize that, but in the end I started seeing some of the same customers who bought my Christmas ornaments coming back about cutting boards which then lead to even bigger projects now! The references from those initial customers are priceless!
3 days ago | 0
Also known as a "loss leader" in business. It's not about THAT sale, it's about drawing them in.
3 days ago | 2
This comes at a very good time for us the day after a so so craft fair where we made less than we hoped. We did get our name out there and learned alot. We have 2 smaller events left and are making needed changes to succeed.
3 days ago
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That’s a nice way to reason tool purchases. Each project pays for part of the tool itself, eventually lowering the cost of the tool to nothing.
3 days ago
| 2
Look at it as a "Marketing Expense". And if you made a buck or two on it then that expense paid for itself. Good stuff Matt.
3 days ago
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This is so true. I just did a favor for my neighbor for free and have been hired many times since for a lot more than free. Lol
3 days ago
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Only $200.00 dollar at Costco. Thirty years ago, I referred to Costco as the $150.00 dollar store. Now I call it the $700.00 dollar store
3 days ago | 0
With the kind of quantities at which Costco buys hotdogs, I'd be surprised if they still weren't making money on the hotdogs. I love how the prices have been the same for like 30+ years(on the combo meals).
3 days ago | 0
731 Woodworks
Why You Should "Lose Money" on $20 Halloween Signs
Had a guy message me yesterday asking why I keep talking about selling cheap holiday stuff.
"Matt, there's no money in a $20 pumpkin sign. Why would I waste my time?"
I get it. I really do.
When you're used to thinking about $500 tables and $1,200 custom builds, a $20 ornament feels like... well, like you're going backwards.
But here's what that guy (and maybe you) are missing:
You're not trying to make money on the $20 sign.
You're trying to make money on everything that comes after it.
Let me tell you about Michael Sellers @Armorwoodworksbymike Last year, he was cranking out pumpkins like crazy. Not because pumpkins were making him rich, but because pumpkins were bringing him customers.
Those customers left reviews. Told their friends. Came back for more.
And that initial wave of pumpkin buyers became his foundation for steady income and bigger custom work.
Here's the thing most woodworkers get wrong:
You think every sale has to be profitable.
But smart businesses? They use what's called a "tripwire."
Costco sells hot dogs for $1.50. They lose money on every single one. But they know once you're in the store buying that hot dog, you're walking out with $200 worth of other stuff.
Your $20 Halloween sign works the same way.
When someone buys that sign, you're not just getting $20. You're getting:
Their contact info
A chance to show them your other work when they pick it up
A testimonial and review
Someone who now trusts you to deliver
A warm lead for your next project
The real magic happens at pickup.
When they come to get their $20 sign, you've got tables, benches, and custom pieces sitting right there in your shop.
"Oh wow, you made this dining table too? How much would something like this cost?"
Boom. Your $20 customer just became a $2,000 customer.
Here's why this works so well right now:
People are already buying Halloween and Christmas stuff. You don't have to create demand.
They're in a spending mood. The holidays do that.
And $20-30 is impulse-buy territory. They don't think about it too hard.
Most woodworkers are playing checkers. This is chess.
You're not just making a sale. You're building a customer list.
And once someone's bought from you once, they're way more likely to buy again.
The bottom line:
Stop thinking about individual sales. Start thinking about customer relationships.
That $20 Halloween sign isn't your product.
It's your introduction.
For more tips and coaching on growing your woodworking business, check out my coaching community: www.skool.com/thefirstcut
Hope this helps,
Matt
4 days ago | [YT] | 157