I've been working with a client for a couple months on a print project. Assembling a book for sale is a big deal--especially when you choose to self publish. There are a lot of options out there that will offer new authors on a budget a helping hand, but my guy decided to go to a local print shop. Fair enough, choosing someone local gives you more control over the project. A print agent you can talk to and get real time advice from is an excellent choice for the first time self publisher who has no experience with book assembly. However, the subject of this post is not about the pros and cons of online versus local self publishing (although it might be an interesting topic to entertain at a later date) its about the dynamics of Cost and Value.
Low Cost=Low Value?
We've all heard the old adage "You get what you pay for." I agree. For instance, the offerings at Dollar Tree stores across the nation have expanded drastically in the recent years. Shelves that used to be filled with ceramic knic-knacks and cheap fake flowers now hold some really useful things, like umbrellas when the rain catches you off guard. When you buy an umbrella for a dollar, you don't expect it to be high quality, you don't expect it to last, you just expect it to be a "momentary item"--good for a few uses and completely disposable. After all, you got your money's worth.
Let's go back to my client. He chose a local print shop because of their price--their cheap price. The product he received from that shop looked, well, cheap and he was dissatisfied. In hoping to save money on the production process, my client has actually cost himself more in the long run--he now has to pay to have the book printed over again, and he's stuck with money invested a pile of product he's too displeased with to sell. When making decisions about your product, or image, or business, remember that it should never be considered a "momentary item." Invest the time and money in yourself and your venture knowing that the value you receive in return makes it worthwhile.
High Cost=High Value?
Times are tight for everyone, and people in my line of work are feeling the crunch just as much as anyone else. Businesses usually cut marketing,and design by extension, to save money in their budgets. There are a million reasons why you shouldn't, and only one reason I can think of that you should--Cost>Value.
There's a particular clothing store that specializes in young female 20-somethings. I really liked their clothes. Yep, past tense. The price tags prohibited me from buying most things, but it was just my luck to catch a sale. I'd purchased a short sleeved casual jacket to dress up my sleeveless tops when meeting clients. I was able to get three wears out of it before the buttons, the nice buttons, came off in the wash--all of them. Granted, they are just buttons. I could go to any fabric store and pick up some plain replacements, but its the principle of the matter. I paid extra for that jacket perceiving it to be of higher quality than a Wal-Mart knock off. I was under the impression that I was making an investment and that the jacket would last until I had gotten my money's worth--the value equaled the cost. It didn't. I learned that just because something is expensive, that doesn't make it better; a very different lesson from the above paragraph but one to be taken to heart.
When examining your efforts, production, marketing, ect, be sure to evaluate what you're actually getting. Track where your business is coming from to make sure you aren't wasting marketing dollars. Shop around for manufactures to compare production costs. Re-evaluate your relationships with other businesses to make sure any partnerships really are mutually benificial. The list is endless. Just make sure that your cost doesn't out weight your value because in the end, you'll end up passing that cost along to customers and they may not be so willing to pay.
