Why Handmade Businesses and Etsy Shops Fail - 3 Biggest & Most Common Reasons
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- Опубліковано 6 сер 2024
- Hey guys, in this video I'm going to talk about the top three reasons why handmade businesses fail so you're aware of them and can avoid this happening to your own business.
This topic is always at the forefront of my mind because I want to see everyone succeed with their business. But not everyone who wants to start a business succeeds, and there are some common patterns that I've seen between those people who haven't made it.
If you asked me a few years ago, I would’ve turned my nose up at all stuff. But take it from someone who didn’t believe it and now does from having experienced it all first hand, this is what will singularly make or break your business.
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Also remember your family will have the same defeated mindset and will try to discourage you when you are not an overnight success. My mindset problem is finding motivation when I'm not making sales. When you're making sales energy suddenly comes out of nowhere. My other problem is when I am forced to take a job I have very little energy to work on my business. Even if it's a part time job cause most part times are physically strenuous which makes it really hard to find the energy to work after you've gotten home from work.
This is so true, Audra. It can be hard to work through those down times when we don't have the energy. But I often find that once I make myself start working, I find more energy.
"You will make it eventually, it is only a matter of time" is my new desktop :) Thank you xx
That's amazing! Thank you!
Advice we all need to hear!!! I've just barely started, making early "test" projects and I'm just about to turn in my business name register form. Though I have gotten farther than before, I honestly feel like a bit of a "fail" with nothing to really sell yet. It seems to take forever to make something. But, I guess one thing at a time. Next I will open a business account, then Paypal, and then finally starting Shopify. Oh, and get the right sized bubble envelopes too....
One step at a time is all it takes! Just keep moving forward toward the goal.
@snailgirl6 7 how is it going now? What’s your business name? Any Instagram page?
It helps if you truly enjoy what you are doing. Its easier than when you are only doing something for the sake of money. Enjoy the process of creating each item. Love what you do and do what you love.
This is very true. When you really love what you do, it is so much more enjoyable.
Thank you very much. I will follow for sure your kind and wise advices 🙏🏼🙏🏼🙏🏼🙏🏼 keep up with thé good work 💪🏼💪🏼💪🏼👌🏼👌🏼👌🏼👌🏼 take care and be safe, all thé best for you.
Thank you so much! All the best to you too, Ama!
I needed to hear this. Thank you.
Thank you so much Mikee!! You got this! ❤️
Thank you for all of your helpful information! Appreciate!
Thank you so much for watching, Jenn!
Thank you for the info! This was pretty good and I will try and work with my mindset with my business.
I'm happy to hear it was helpful to you! Thank you so much for watching!
Im surprised you dont have more views. I absolutely love your contents and your personality. I'm sure one day, your channel will blow up. Looking forward to more contents like this
Thank you so much!! It has already grown so far beyond what I expected, and I'm so grateful for that!
Another wonderful video, you got the nail on the head for me. Thank you for the information and inspiring talk
Glad you enjoyed it! I appreciate you watching!
Thank you very much. Your advice will greatly help.
Glad to hear that, Line! Thank you so much for watching!
I really love how you discuss a topic. It is not hard to understand, it is easy to pick up.
Thank you for that - that is a really nice compliment! 😊
Great advice as usual, Mei. Think the thing that spoke to me most was 'success is defined by yourself.'
It's so true - you make the rules there. Thank you so much for watching!
Thank you for sharing this. What you say is so true!
You are so welcome! Thank you for watching, Darren!
Thank you so much!! I almost going to give up on my small business because of stress and unconfident while seeing competitors making a lot of sales during this period
You got this, Jamie! Thank you so much for watching!
Thank! This is great information
You're welcome! Thank you so much for watching!
Thank You for yet another breath of fresh air to help me unclutter my brain! ❤🍾
Happy to help! 😊 Thank you so much for watching!
Thanks Mei for a great, inspiring video. I made my 3rd sale today in my shop, although have sold more items outside of Etsy too. Your advice is much appreciated.
That's awesome, Mike! Congrats on that - that must feel great!
@@CreativeHiveCo It does feel really good especially from a handmade makers p.o.v. Thanks so much for giving us all the ins and outs of Etsy! We would certainly be lost without your wise words 🙂. Similarly to you am in Hong Kong selling to the US. It's nice to know they really appreciate and praise my work which gives me the confidence to continue and produce better products.
That's fantastic! You are definitely finding your target audience then, which is key!
thank you so much for this i am planning to launch my small candle business but I am afraid I wont be making any sales .. i am grateful for you thank you so so much
Take the time to plan out your launch and social media and all that and just don't give up! You will do great!
You are a UA-cam Angel with practical advice! LOVE your videos!!!
That is SO sweet of you to say. I'm happy that you're here!
Great tips! The toughest part for me is finding a balance between my passions and interests with what will appeal to a large enough group of ppl in order for my business to be profitable.
Sometimes having a smaller niche audience can pay off too, though. While handmade soap is a wide audience, handmade soap made of organic ingredients is narrower, and handmade soap made of organic ingredients that you've grown yourself is even smaller. The more focused you are on a certain group, the more loyal customers you can find.
Thank you so much!
You're welcome! Thank you for watching!
Thank you for your honesty. i am trying to start a candle bsuiness. i am currently working on #1 and learning the business.
That's great! You may like this video, if you haven't seen it yet: ua-cam.com/video/tznvZjHw57s/v-deo.html
I agree that mindset is key to success as well as learning new ways and adapting to the ever changing landscape.
Totally - how we think so impacts how we act. It can be hard to reign that in sometimes, but it's so important!
This video is brilliant thank you for sharing this because I’ll be opening my Esty shop in March 2021 charm making and cards and some handmade scarfs thank you I always says this to my friends and they laugh at me because they try to make money quick no one they can’t make sales within six weeks they give up I’ll share this video thank you very much 👍🏼👍🏼👍🏼
It does definitely take time to get a business up and running and knowing that going into it is going to help you out so much.
Great points (and I'm so gonna be referring some of my Etsy marketing clients to watch your videos, as well as friends of mine who sell on Etsy. )
I've been working with Etsy sellers for about 5 years now, some for consulting, others for hands-on working on their shop's images, branding and SEO, but for the most parts- I've been advertising Etsy shops on my blogs.
To add to your 3 reasons Etsy shops fail - one of the things I saw most happening was I'd be getting 60% of my orders for blog promotions from shops that look to be unfinished. Shops with 3-4 items, no about section...
I'd also get a lot of shops wanting to advertise- while they have bad SEO & plan to change their shop's name and branding in the near future.
Thus leading me to a 4th (if I may) mistake- which is to spend money on advertising- before you're ready.
I've heard clients tell me they've spent $100-$2,000 on marketing- and their shop shouldn't have even been live yet!
I think that this, combined with "just advertising" without any marketing strategy- gets people "in their head" and make them feel the failure in their pockets in a significant way, that usually ends with them saying that it's Etsy's fault.
But yeah, awesome video, and keep making more! (I kinda like placing your vids on a roll and every few minutes when they change I hear you say my name LOL I just love you!! Happy Holidays!)
Happy holidays to you, too, and thank you for watching!
Thank you 🙏
You’re welcome! 😊 Thank you so much for watching!
Not bad! Thank you!
Thank you so much for watching!
This Video lifted me out of a slump today, thank you
That makes me so happy to hear, Kali! I hope it was helpful to you.
@@CreativeHiveCo It did, thanks Mei 🙂
I get excited when I get a view or a visit. At least someone is looking at you products or your shop. Right? I got 10 sales in just a few months of opening my shop. But that was mostly family and friends. I haven had a sale since. Why?
You are probably not finding your target audience. I have a free workshop that can help with that. www.creativehiveco.com/workshop/?
YES Mindset is key! I could have stopped designing knitting patterns because they didn't sell, but I'm changing the way I thinking about that and trying new things. Thank you!
That's awesome! It's a great idea to try a different angle.
You have to be focused on what you want to sell ,have items available ,have good shipping turn around ,keep in touch with customers , don’t overprice your items check the market if someone makes the same products at a much lower prices you’re less likely to sell .
I agree with a much of what you are saying! But I strongly feel that you should price yourself to yield a profit not just based on what others charge.
Hi there! Im thinking of starting a small business and launching it... Any advice and tips you would give me? Thanks
Absolutely! I have a whole playlist for that: ua-cam.com/play/PLd52Nr4SNc0ml7zPmF32i03H1pqZUlC1K.html
@@CreativeHiveCo thank you so so much... You don't know how much this means to me... Btw I've been so interested in your videos because you literally make me understand the most complicated stuff so I've started binge watching Ur vids lol 😌 ..thank you so much again 🖤🖤🖤
That makes me so happy to hear - that is exactly why I do what I do. Thank you for bingeing! 😊
This was a great video Mei Pak, with a lot of good advice & truth in it. Sometimes the truth may be hard to accept & swallow, but it is needed. Please take a look at my Etsy Shop and let me know what you think.
Well said! Thank you so much for watching!
Oh l am sick of hearing why businesses fail on etsy. I have run a business for 32 yrs and l have tried etsy and researed it and 65% of the people selling do not make more than 100 $ A YEAR.Iis a big rip off and waste of time
It's such a saturated market, that's why I always suggest having your own site.
Can I request for a video on how to handle business competition? And how to handle the stress generated by this. I’m doing handmade crystal jewellery and the market in Singapore is very saturated, especially during this pandemic period, at least one shop is opening for every week through Instagram. How to survive in such a saturated market? I’m so stress!!!
That's a good idea! I'll keep that in mind. In the meantime, this video might be useful for you too: ua-cam.com/video/oXC5oJB3T7E/v-deo.html&ab_channel=CreativeHive
I see failure as an opportunity to learn and to keep working
YES! Always, every time. Take that experience and grow from it.
I have a friend who wanted me to help him sell his art. He was reluctant to discuss any details. He even objected to naming his paintings. I asked him how someone was supposed to identify the painting on his website without a name. He reluctantly let me give some of his paintings names. When I started asking more pointed questions, such as identifying target markets, he eventually got frustrated, stood up and pounded on my desk, shouting "that's beneath me!" He then stormed out. I felt like Tom Cruise telling Cuba Gooding Jr to *help me help you*. Part of it was he had no idea how to answer, but I think a lot more of it was that, even though he wanted money, he didn't want to get involved in the business of collecting that filthy lucre. He needs money to live but treats it like it was a diseased rat. I built him a minimal website, but he refuses to put any effort into marketing it because he doesn't want to soil himself through base promotion. He's an *artist*, you see. As you can imagine, he doesn't sell a lot of paintings.
Honestly, it doesn't sound like he's a very good friend, either. I wouldn't spend much more time working with him to get set up. If he really wants it, he'll figure it out.
I think some of this is not true and misleading. If you're continually losing money each month, especially if you have big overheads, if you haven't got a great product or viable target market, it's important to know when to call it a day
I actually mention these things in the video. If you recognize these things then you can make changes to your business to make it work.
hahahha to study how to raise a family? Sadly just a few people study that before...
Researching before doing something new is always a good idea!
@@CreativeHiveCo Absolutely!
You had me until the law of attraction fantasy nonsense.