Etsy Sellers Sold $101.8 MILLION Goods in April 2013
The Numbers Don’t Lie
You might be frustrated because you haven’t received your first sale. You might be ready to toss the ole’ Etsy shop aside because you just aren’t making a profit. STOP. Don’t do it if you are serious about running your own crochet business.
Take another look at those numbers. Go on.
There is a market for handmade goods and since you crochet your little fingers off making hats, scarves, purses, amigurumi, and other one-of-a-kind items you need to claim your rightful place.
What’s the Secret Behind Etsy Success Stories?
There really isn’t a secret to all this. It’s simply business. Some people run their shop as a business while others run their shop as a hobby. Back when I had an Etsy shop (2007 – 2010) I sold custom pieces, pre-made pieces, and patterns. Why wasn’t I successful? Back then I saw a sale, any sale as a success. WRONG. Success is a profitable business.
- Stop discounting your prices in order to make a sale. You are not Wal-Janis. You are Janis, maker of handmade goods.
- Nail your target audience and meet their need. You can do this by solving their problem, entertaining them, or educating them.
- Invest in your business not your hobby. Okay, I love yarn just as much as anyone but buying yarn for me does not produce more inventory. Any money you earn needs to be invested back in your business.
- Charge more. Yes, I said it. Stop listening to people who say ‘that costs too much’. They are NOT your customer. Would these same people go into Nordstrom and complain about the prices being too high? Well, maybe they would BUT they would also be shown the door because they have a choice – they do not have to shop there. (Read Pricing Crochet For Maximum Profit by Sedruola Maruska)
- Stop doing custom orders. Yes, I know this is your top means of making sales but it is a killer unless you are charging premium prices. Instead, make a set number of items and list them all at once. Once they are gone they are gone. You’ll see better profit and higher demand. (Read Craft Business Power by Jason and Cinnamon Miles of Liberty Clothing)
Prepare for Success
Take charge of your business by buying yourself some web-hosting so you can have your own domain and web real estate. Learn how to setup your blog, and setup a mailing list. Both MailChimp and aWeber can integrate with your Etsy store.
Once you have these three corner stones laid you can build your business up from here.
How long have you had an Etsy store? (or another handmade shop)
Add your blog post to the CBB July 2013 Linky
Those are good tips Sara – I never thought about it that way – the custom orders part…
Rhondda, Yes – I learned that the ‘experience is a teacher’ way. Some people love custom orders and work well under tight deadlines – I’m not one of them. 🙂
Sara,
I couldn’t agree with what you said more and I love that you posted statistics. I’ve just recently started having activity on my Etsy account because I executed a tactical move and it worked. It does take lots of work to get things going but if it is your business, it’s worth it. I love all your great advice!
Kathy
Kathy, I’m so glad that something you implemented worked. I love when that happens.
If something isn’t adding to your bottom line then you need to either get rid of it or improve it. Only spend your energy on things that add to your business profits. (Even if the ‘thing’ is fun and something you enjoy – i.e. Pinterest) If it doesn’t drive traffic it is a waste of time.
Wow… awesome tips and information. I have a friend who sells an item on Etsy. I’m definitely going to recommend that she checks out your this post. And I learned something about crocheting too. I used to crochet when I was a kid, glad to see it’s still in style. Kathi
Kathi, I remember when they used to teach handicrafts in school. I learned the beginnings of sewing and cooking in school. I don’t think we had crochet or knitting but I think it should be taught. Waldorf schools use these as a way to develop the child’s dexterity and sense of accomplishment.
Hope this can be useful to her because these stats show that it is NOT a waste of time. It is a matter of marketing and seo.
Great job Sara! Though I don’t have an Etsy shop myself, I know quite a few people who can use these tips and will definitely refer them 🙂
Apple, these can be true for any business not just handmade businesses who use Etsy. That’s the cool thing about business – a lot of it is universal.
This is BRILLIANT! I bookmarked your page, and I will share your post.
Thanks for stopping by Pamela.