I decided to do some searches to get an understanding of how people in the craft field value themselves. Little did I know this would be a difficult thing to ascertain. I found a lot of great blogs and websites that discuss having a successful craft business, but nothing discussing the cold facts and art of developing your salary or even an hourly rate. I've heard quotes ranging from $10/hour to $30/hour that people build into their sales price.
Personally, I'm of a different flavor in trying to build a business some resemblance of a bank account. My current philosophy at least for the time being is more based on true salesman perspective. It's strictly commission based. Meaning, I don't get paid until something sells. I take a percentage of the sale as my payment, wage, salary, whatever you want to call it. The remainder of those funds goes towards paying for the material I used to make product. If that is already paid for by a previous sale then it just goes into one of my asset accounts until I need to make another purchase.
Because of this, my general "value" is low right now. I do this for several reasons. The main reason being that this is a brand new business and needs time to build up it's own cash flow before I start making withdrawals from it. If I start paying myself an immediate wage, I feel I am setting myself up for failure and my business will be in constant need of cash infusions. In my opinion, this is not a strong position to be in. That is not to say that this won't ever happen, just that I'd like to minimize it as much as possible.
Once I feel comfortably in the black, I will readdress this issue. My thought is that I will probably just pay myself a salary instead of worrying about an hourly wage. But that is a few months out I believe.
Until then, I challenge you out there to evaluate your value. Are you still thinking of your business like a hobby? Are you setting yourself up for success? Am I completely naive in my thinking? You tell me.