Of course our paths can always vary in how we achieve this and I would like to first encourage you to read the Blog segments “Quit Your Day Job” (
http://www.etsy.com/blog/en/tags/quit-your-day-job/) to see how many others have done this.
This is something that I am working very hard to be able to do. It is not easy but I am taking steps into making this a reality and have learned so much along the way.
Some steps that I have already taken: I have separated personal and business finances. I am setting aside 20% of all my sales into a savings account for the business (this will help if something needs to be replaced, with shipping overages, and some of my more lofty business goals for the long term), and I have been developing a business model. These are not things that you have to do, and definitely not in the same way that I am doing them, but they are something to consider.
Some steps that I need to take:
1. Reevaluate my prices. At the moment my prices work for me, but if I want to see growth they may need to be adjusted in the future and this means I need to better understand the Etsy consumer, better understand my investments both monetarily and temporally, and set goals for growth that is reasonable, achievable and quantitative.
2. Improve my photos. My photos are okay, but honestly I see a ton of room for growth. I would like to see the lighting improve and a variety of angles of the product so that I can use all 5 photo slots. I would also like to show how items are packaged.
3. Focus and expand. How can I do both?! I often ask myself that, but have decided that I would like to focus on developing lines fully and then expanding into other options and lines.
4. Learn. Learn. Learn. It is a good thing I LOVE to learn :O) To really be a successful business owner I know that I have to educate myself on a variety of topics including business models, trends, fashion, and marketing. I already do this in many ways, but would like to continue doing this.
What steps have you taken or want to take in the future?
Want more suggestion?
I recently read an article in the Etsy Blog “Etsy Success: Critique Your Shop” (
http://www.etsy.com/blog/en/2012/etsy-success-critique-your-shop/ ) and found that there was so much that I need to reevaluate. From my pricing structure to my return policies, it raised so many great questions, inspired ideas and really made me think hard about what my shop is now and what it could be in a month.
