Wait, what? Did this week even exist?
It did, but I wasn't here for it. I was out of town, so nothing happened in the shop at all. No new additions, no item renewals, no modifications, no sales. Nada! But that happens when you're on vacation, no matter what business you're in.
There was a lot of traffic this week, though, since that green and black bracelet I shared a few posts back was featured in two separate treasuries on Etsy! (You can see them here and here.)
This week is back to the grind, so we'll see more progress. For now, the numbers are at a standstill.
Total value of items made: $716.00
Total expenses to run business: $59.36
Total income: $78.00
Monday, June 30, 2014
Wednesday, June 25, 2014
Startup expenses, a summary
Ideas aren't free, and businesses aren't, either.
If you're into crafting, you've probably heard the suggestion to sell on Etsy more times than you can shake a stick at. It can be a good way to earn some money on the side, but not without first investing time, effort, and yes, money, into it.
Did you know that most businesses don't turn a profit in the first two years? In fact, they're doing good to break even by that point. Business is expensive, and selling on Etsy is no exception.
But how much should you plan to invest in your new venture? That, I can't tell you, but I can offer some insight into how much it cost me to get going.
When I list my expenses to run the shop this time around, it's important to remember that I'm not counting money already invested into the project. That's money I already made back, money spent and returned on over the course of a few years. This time, I'm starting with an advantage. I already have everything else I need. But how much have I invested overall? Well, let's look at some categories.
Crafting tools
These are the things I had to have to start making what I wanted to sell. There were quite a few things I had to buy to go from casual crafter to full-time businessperson, and that meant replacing a lot of old tools that weren't good enough for professional-grade products. So what did I buy?
Business tools
There are other things necessary for getting a business going. There are several things I was fortunate enough to get for free or through barter, but I'm still going to list them so you know what to consider for your own lists!
Materials
While I wish I could give an itemized breakdown of the supplies I purchased, I didn't do as good of a job keeping track of those as I should have. But I budgeted $250 for beads, findings, wires, stringing supplies, and other items that are consumed by the creation process. And I spent every bit of it, so we're just calling it that - $250 for starter materials. That puts our total expense to get started at a whole $432.
For a serious business, $432 is chump change. But for someone starting a small home business making and selling crafts as a means for extra income, that's a pretty substantial chunk out of your wallet!
Unless you've already got most of what you need to start selling, like me, remember that you have a big investment to make. Be sure you're serious about what you're doing, and unless you're absolutely certain you'll make a return on your investments in a reasonable amount of time, don't borrow the money to get started. It's better to put a few months aside and save up the cash you'll need to invest in your project, start making products, and start laying your business foundations before you open your doors.
Waiting and saving to get started doesn't always sound appealing, but trust me, it's worth the wait!
If you're into crafting, you've probably heard the suggestion to sell on Etsy more times than you can shake a stick at. It can be a good way to earn some money on the side, but not without first investing time, effort, and yes, money, into it.
But how much should you plan to invest in your new venture? That, I can't tell you, but I can offer some insight into how much it cost me to get going.
When I list my expenses to run the shop this time around, it's important to remember that I'm not counting money already invested into the project. That's money I already made back, money spent and returned on over the course of a few years. This time, I'm starting with an advantage. I already have everything else I need. But how much have I invested overall? Well, let's look at some categories.
Crafting tools
These are the things I had to have to start making what I wanted to sell. There were quite a few things I had to buy to go from casual crafter to full-time businessperson, and that meant replacing a lot of old tools that weren't good enough for professional-grade products. So what did I buy?
- Set of basic pliers, $9
- Crimp pliers, $7
- Cordless Dremel, $20
- Soldering iron, $20
- Hammer and anvil, $25
- Beading needles, $5
- Leather punch, $10
- Extra drill bits, $11
Business tools
There are other things necessary for getting a business going. There are several things I was fortunate enough to get for free or through barter, but I'm still going to list them so you know what to consider for your own lists!
- Packing materials, $30
- Padded mailers, $25
- Storage containers, $20
- Postal scale, free (traded artwork for it)
- Shop graphics and promotional images, free (did my own graphic design)
- Basic camera, free (already owned)
- Photo editing software, free (already owned)
Materials
While I wish I could give an itemized breakdown of the supplies I purchased, I didn't do as good of a job keeping track of those as I should have. But I budgeted $250 for beads, findings, wires, stringing supplies, and other items that are consumed by the creation process. And I spent every bit of it, so we're just calling it that - $250 for starter materials. That puts our total expense to get started at a whole $432.
For a serious business, $432 is chump change. But for someone starting a small home business making and selling crafts as a means for extra income, that's a pretty substantial chunk out of your wallet!
Unless you've already got most of what you need to start selling, like me, remember that you have a big investment to make. Be sure you're serious about what you're doing, and unless you're absolutely certain you'll make a return on your investments in a reasonable amount of time, don't borrow the money to get started. It's better to put a few months aside and save up the cash you'll need to invest in your project, start making products, and start laying your business foundations before you open your doors.
Waiting and saving to get started doesn't always sound appealing, but trust me, it's worth the wait!
Monday, June 23, 2014
Week-end tallies: Seventh week in review
The past week was a whirlwind, cleaning and organizing and helping friends finish their costumes for a convention. Then the weekend was spent at the convention, which left me exhausted! When we got home yesterday afternoon, I was too tired to do anything at all.
But the week saw some productive forward motion. I made a few pieces and did some product photography, for a total value of $103 added to the value of what I've made so far. It's exciting to see those numbers closing in on the $1,000 mark, even if reaching $1,000 in sales is still a long way off. It'll be great to finally get there, because it will mean we're that much closer to seeing the goal really realized!
Speaking of goals, something special happened this week, too.
The shop is in the black!
Hooray!! Seven weeks later, we've finally surpassed the business expenses and turned a profit. I'm feeling very proud of that accomplishment, and very blessed that it happened so quickly. The next big landmark will be breaking one hundred dollars in sales, and really, that's not too far off. I hope to reach that goal by the end of July, but if not, no biggie - We've turned a profit, and that's grand.
Speaking of turning a profit, we haven't discussed start-up expenses yet. That's coming on Wednesday, so keep an eye open!
I didn't have a chance to list anything new in the shop this week, but here's a newer version of a piece that might have slipped in unnoticed:
Total value of items made: $716.00
Total expenses to run business: $59.36
Total income: $78.00
But the week saw some productive forward motion. I made a few pieces and did some product photography, for a total value of $103 added to the value of what I've made so far. It's exciting to see those numbers closing in on the $1,000 mark, even if reaching $1,000 in sales is still a long way off. It'll be great to finally get there, because it will mean we're that much closer to seeing the goal really realized!
Speaking of goals, something special happened this week, too.
The shop is in the black!
Hooray!! Seven weeks later, we've finally surpassed the business expenses and turned a profit. I'm feeling very proud of that accomplishment, and very blessed that it happened so quickly. The next big landmark will be breaking one hundred dollars in sales, and really, that's not too far off. I hope to reach that goal by the end of July, but if not, no biggie - We've turned a profit, and that's grand.
Speaking of turning a profit, we haven't discussed start-up expenses yet. That's coming on Wednesday, so keep an eye open!
I didn't have a chance to list anything new in the shop this week, but here's a newer version of a piece that might have slipped in unnoticed:
 |
| Rainy Day locket version 2, $20 |
Total expenses to run business: $59.36
Total income: $78.00
Tuesday, June 17, 2014
Week-end tallies: Sixth week in review
Last week was so busy for me that I haven't had a chance to sit down and write this until now, four days late! Better late than never, though.
I've been trying to add one or two listings per day to my shop to get it filled up. If something expires, I count that as a listing for the day. I added six things in week six, which took care of my backlog of photos. Now I have a big box of items to sort and photograph so I can get back to listing, so photography and photo cleanup will be my focus for week 7!
The bad part about a busy week is that business inevitably suffers, since I can't spare the time to sit down and advertise the shop or write consistently for my blogs. I have been trying to remember to post updates on my Facebook page for the past week, so a few things went up, but the page hasn't been used for so long that it'll take a while to build its traffic back up.
I've also taken to posting collections of colors on Tumblr, because I like seeing all my pieces of a particular color together. They make a pretty neat image set. Last week I posted a lot of black jewelry, so that was the collection I put together. Here's one of my favorite black pieces.
And the weekly tally, of course, which should start creeping up again this week!
Total value of items made: $613.00
Total expenses to run business: $56.49
Total income: $49.00
I've been trying to add one or two listings per day to my shop to get it filled up. If something expires, I count that as a listing for the day. I added six things in week six, which took care of my backlog of photos. Now I have a big box of items to sort and photograph so I can get back to listing, so photography and photo cleanup will be my focus for week 7!
The bad part about a busy week is that business inevitably suffers, since I can't spare the time to sit down and advertise the shop or write consistently for my blogs. I have been trying to remember to post updates on my Facebook page for the past week, so a few things went up, but the page hasn't been used for so long that it'll take a while to build its traffic back up.
I've also taken to posting collections of colors on Tumblr, because I like seeing all my pieces of a particular color together. They make a pretty neat image set. Last week I posted a lot of black jewelry, so that was the collection I put together. Here's one of my favorite black pieces.
 |
| Black drop necklace, $20 |
Total value of items made: $613.00
Total expenses to run business: $56.49
Total income: $49.00
Friday, June 6, 2014
Week-end tallies: Fifth week in review
I didn't have any time this week to prepare new things or revamp any old, but I did spend a lot of time listing items, rewriting old listings to make them more visible, and laying ground work for a business platform.
A lot of my pieces can be found on Facebook now, for one!
One important thing I did this week was take time to properly organize my inventory. It's now neatly sorted into boxes, one for items that are finished but need to be photographed, one for items that are photographed but need to be listed, and one for items that are listed and ready to go. I'll be making dividers for the boxes next week, so I can sort items by material and type.
This week brought one sale, which bodes well for the advertising efforts I started on Tuesday, so the gap between income and expenses is very close now!
In any event, here's a peek at one of the items that went up this week:
And here's the tally for week 5!
Total value of items made: $613.00
Total expenses to run business: $55.29
Total income: $49.00
A lot of my pieces can be found on Facebook now, for one!
One important thing I did this week was take time to properly organize my inventory. It's now neatly sorted into boxes, one for items that are finished but need to be photographed, one for items that are photographed but need to be listed, and one for items that are listed and ready to go. I'll be making dividers for the boxes next week, so I can sort items by material and type.
This week brought one sale, which bodes well for the advertising efforts I started on Tuesday, so the gap between income and expenses is very close now!
In any event, here's a peek at one of the items that went up this week:
 |
| Green crystal, shell and silver bracelet, $15 |
Total value of items made: $613.00
Total expenses to run business: $55.29
Total income: $49.00
Tuesday, June 3, 2014
Remaking mistakes
Not everything I create looks as good in reality as it does in my head.
Sometimes they turn out great! For the most part, I'm happy with my results, and I'm pleased to be able to photograph, list and show off what I've made.
Then there are times when I create something, step back, and say what was I thinking?
Even worse, though, are the projects that look great at first glance. I think they turned out well, came together just how I imagined them, and everything ought to be grand...
Except it turns out my vision is what was flawed.
These scenarios happen to everyone, but it's important to remember that not all is lost! There's a few things you can do to fix it whenever these mistakes happen.
Take a break.
It might seem counter-intuitive, but it's the most valuable thing I took away from college. Whenever I began to get frustrated with how a drawing or painting was working out in class, my teacher would encourage me to put it aside, goof off in the classroom, step outside for a quick walk on campus, or sneak off to place a quick call to my fiancé (Now husband.) After a bit of a break, the problems are usually glaringly obvious when you come back.
Rework it.
Take something apart, add different elements, rearrange the pieces. Sometimes you were close, just not quite there, and reworking something after a little break is all you need to do.
Remake it.
If you start over from scratch, some of the problems that hindered you the first time won't be a problem any more. Sometimes creating something without these bumps in the road can give much better results.
Reclaim it.
No matter the craft, pieces can usually be salvaged from projects that just didn't work right. For me, I can easily recover findings like clasps and earring wires, in addition to any beads used. If anything, my losses are wire used for stringing, and occasionally some crimp beads.
Don't get discouraged.
Everyone makes mistakes. Not everything works out perfectly, no matter how much practice you have. Try again, because as long as you keep working at it, you'll see success eventually!
Sometimes they turn out great! For the most part, I'm happy with my results, and I'm pleased to be able to photograph, list and show off what I've made.
 |
| Yellow flower earrings, $9 |
Then there are times when I create something, step back, and say what was I thinking?
Even worse, though, are the projects that look great at first glance. I think they turned out well, came together just how I imagined them, and everything ought to be grand...
Except it turns out my vision is what was flawed.
 |
| Not quite the stunning outcome I hoped for. |
Take a break.
It might seem counter-intuitive, but it's the most valuable thing I took away from college. Whenever I began to get frustrated with how a drawing or painting was working out in class, my teacher would encourage me to put it aside, goof off in the classroom, step outside for a quick walk on campus, or sneak off to place a quick call to my fiancé (Now husband.) After a bit of a break, the problems are usually glaringly obvious when you come back.
Rework it.
Take something apart, add different elements, rearrange the pieces. Sometimes you were close, just not quite there, and reworking something after a little break is all you need to do.
Remake it.
If you start over from scratch, some of the problems that hindered you the first time won't be a problem any more. Sometimes creating something without these bumps in the road can give much better results.
Reclaim it.
No matter the craft, pieces can usually be salvaged from projects that just didn't work right. For me, I can easily recover findings like clasps and earring wires, in addition to any beads used. If anything, my losses are wire used for stringing, and occasionally some crimp beads.
Don't get discouraged.
Everyone makes mistakes. Not everything works out perfectly, no matter how much practice you have. Try again, because as long as you keep working at it, you'll see success eventually!
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