The 4 Stages of Handmade Business | What You Need To Do at Each Level $1,000 - $100,000+
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- Опубліковано 9 лип 2024
- I’ve been running my handmade business for over a decade and I’ve helped A LOT of other people build their own businesses. I’ve seen that there are 4 distinct stages of handmade business. 4 different income or sales levels that are quite different from each other.
In this post, I’m going to break those down and explain to you what you need to do at each of these different levels.
In today's video, I'm going to be sharing 4 stages of a handmade business and practical handmade business tips that will help you to become successful!
The very first stage is where I’ve seen people spend the most time. This is the stage where you’re trying to get to your first $1,000.
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This video and channel is literally unmatched to others. You go into detail with basically every subject about running a home business. Thank you for this
Thank you so much for your kind comments, D! And thank you for watching!
Yesss! So exciting! I’m in Stage 3 and I’m finally seeing more growth from paid ads and am paying myself a decent wage. Couldn’t have done it without your help Mei!!
The next step is an exciting one for you Kathy!!! Can't wait to see where this year brings you!
That's so awesome!!!!!
I like the way you explain things--very organized and easy to understand.
Thank you so much!! That really means a lot to me!! ❤️
Thank you for posting! I love your content.
You're welcome, and thank you for watching! 😊
Thank you,just what i needed.starting at stage 3 ..skipping 1 and 2 ,bless you !
Good luck with your business growth!
Your videos are so helpful :) Thank you for the great work ! ! !
I really appreciate that, Emilyn, and for you watching them! 💖
This is a great video. My experience is similar to your four stages. Well done.
Very cool to hear that, David! I'm looking to get to stage five of $1M/year... Between all my businesses, I think I can get there this year in 2020... but not with a single business. I have a very diversified portfolio of businesses haha. Thank you for watching!
i like ur channel so much, thank u! plz keep going ❤️
Thank you, nini! I'm so appreciative of you watching!
I really realated to this video. And now I feel a little better. Being an overthinker and introvert my business us just stuck in stage 1&2 . I keep regressing cus I'm constantly doubting myself and my products. So I keep going back to trying new things. Thankyou for such a detailed video 😌
Thank you so much for watching Fawziyah!! ❤️❤️ I know you got this!! 🎉🎉 I know this is easier said than done but never doubt yourself. If you fail, get up and keep moving forward. There's no perfect road. I believe in you!! 💕💕💯💯 If you're looking for some guidance on how you can scale your business online, feel free to watch my free workshop here: www.creativehiveco.com/profit/? Good luck!! ❤️❤️🎉🎉
Thank you !! You are a wealth of knowledge and your enthusiasm is quite compelling!!!
Thank you so much for the kind words, Sharon!! I TRULY appreciate it!! ❤️
Mei, You have opened my eyes!
I hope that is in a good way, Juana! 😊 Thank you so much for watching! 💖
Always a blessing listening to you. Thanks so much
Aww. Thank you so much for your kind words!! This really means a lot to me!! ❤️
You are Fab ❗❗❗ Getting Lost in your videos. Awesome content, Loving it ❗❗❗💗
Yay! Thank you! I'm so you love them!
Thank you for sharing this information with others, I am trying to decide which of my skills I should focus on and start a business from , right now crocheting seems to be looking the most promising. There are so many people selling handmade items now, I’m doing all the research I can before trying to really get into it, I am still making things in preparation, but I don’t want to go into it unprepared. Your videos are proving to be very helpful.
You got this, Cathy!! ❤️ In case it'll help, you can also check out my blog here about starting a crochet business: www.creativehiveco.com/how-to-start-a-crochet-product-business/ Good luck!!
Your videos are the best thanks soo much!!
I'm so happy to hear that! Thank you for watching, Ashton!
Thank for helping us small businesses owners of hand crafted items.I’m in stage one,but now trying to figure out what sells the best from the items I currently make.as said before in other videos I’m one of the ones who make a bunch of different items, but in a way,I know it’s not good and I’m trying to niche down and sell only what I see people interested.I offer a variety and I’m realizing that .too much variety can be too much on the artist and too much on the buyer.so.. I’m in the process of figuring out what sells best.
Hi! I think my blog posts below can be helpful for you too. I'm cheering you on! You got this! ❤️ You're also welcome to join my free UA-cam Livestream on January 26 (Thursday) at 3pm PST / 5pm CST / 6pm EST. I really think you're going to learn a lot from it. You can register here in case you're interested to join: bit.ly/3kDXbYx Hope to see you there! 😊
www.creativehiveco.com/do-you-know-your-ideal-customers/
www.creativehiveco.com/how-to-create-a-cohesive-product-line/
Thanks Mei Pak! I find your videos meaningful.
Happy to hear that! Thank you so much for watching!
♥️🌹💃 realy very insightfull. Thx
Thank you so much Tessa!! ❤️
This information is indispensable to anyone seriously thinking of starting a business!❤❤❤
Thank you so much Eliana for the kind words!! ❤️❤️
Thank you. I still have a lot learn.
You're welcome, Wanda! We all do - having your own business is a constant learning and growing experience.
Love this video so many tips
I'm so glad, Vely! Thank you for watching!
Hi Mei, thanks so much for another amazing tutorial video.
Ohhh what an amazing observation, Janece! You're totally on point with being too different vs being too the same 😂 To this, I would say:
Since you already have a customer base, start to really pay attention to what specific things they love about your work. That will give you some clues as to what's your super power, your special sauce that they can't get from other shops/artists.
Just be careful that you're getting this data from a large enough sample size. For example, if you only hear back from like 1-3 people, then it can be dangerous to scale up your business in that direction when there's not enough evidence it'll be a good seller.
Send out an email to your past customers to ask why they buy from you and not from your competitors! You'll be surprised how many people are happy to share 😁
@@CreativeHiveCo Thank you so much Mei :)
Omg I think I saw your ad a few days ago and just randomly found your channel by accident.
It was meant to be! Welcome to the channel!
Thanks for the great content!
My pleasure! Thank you so much for watching!
Hi mei!! Thanks for sharing your knowledge and story. You dont know how much confidence and hope you gave me. I think im still on stage zero lol. Its like a mash of if im still in product testing or wanting to get the very first sale. Im not yet convince where i am at the moment.i started like 5 months ago with wanting to make this a real business. I didnt know its hard. And im alone
Question,how long before you got your first sale to a stranger? Please share more of your start up.thanks!!!
It took me a few months before I got my first sale online from a total stranger, but that took a lot of networking with people online! I didn't know anything about building businesses back then!
This is so true!!!! I am just entering stage 3!!!
That's amazing!!
@@CreativeHiveCo Thanks a lot to you Mei! I watch your videos almost every night
thank you. Awesome video as always. You forgot to insert the subscribe button at the end by the way.
Glad you enjoyed this! And thanks for letting me know. Totally forgot about that!
Thank you for helping me accelerate the in-between time of Stage 1 and Stage 2. Your ASAD course is a GODSEND! I feel like I'm skipping over so many years of trial and error and getting straight to the wins! Question, I'm already selling on Etsy but I was planning on trying to start using FB ads once I completely have my Shopify store up and running. Do you think I should wait until I'm in the automation stage or can I get good results even though I haven't hit $10K in sales just yet? What's your opinion? Thanks Mei. I loved this video!
I'm SO HAPPY to hear ASAD is helping!! 😍
So Facebook ads... they only work well when you've already got some sales coming in organically... or if you're confident about your targeting (like how we are with our new POD business - lmk if you're not sure about the story behind that, email me and I can send you a link to a recording where I talk about that).
Facebook ads won't help a business that's inherently broken, and if it can help, it'll always be a struggle to be profitable with ads. This is generally what I'm going through with Tiny Hands. So many problems with the business, so ads themselves are hard to do.
And ads require money, and the expectation where you'll just make sales right away that you can put right back into ads is unrealistic. I'm teaching a high level mastermind right now, and straight off I'm telling people to spend at least $500-$1k in testing ads and NOT expect any money back from this phase.
So you see how you have to be in a comfortable financial and cash flow position to be able to do ads. That's a lot of money especially if your biz is only making $10k/year. And you have to be ready to spend a few hundred dollars a month consistently to start doing ads. It's very important to have momentum, because that's when ads really start to work, and most people give up before they get momentum because they don't have the cashflow to sustain it.
Creative Hive Well that’s discouraging. 😞 I thought I heard you say somewhere that starting with $100/mo is enough to have FB learn the algorithm. Maybe that’s old news. But thanks for the breakdown. I didn’t know I needed to get organic traffic going. I think I will work on that first. I appreciate the response!
Having been online for a few years and a member of ASAD I’d suggest learning and making sure your SEO is solid before trying ads. If you’re on Etsy try that advertising platform after you make sure your Etsy titles and tags are good. I personally have not had luck with FB ads but Etsy and google and pinning on Pinterest have been. Wet good re sales for me and are less of an investment.
@@missshanel4229 Yeah that's kind of old news now unfortunately. The more we progress into the future the more competition there is and so things get more expensive to do... I think we're in an online technology bubble though. It's gonna burst soon 😲
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Join our @csdo classes nice video mam
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Thank you. 😘
Thank you so much for watching, Jioalie!
I love your videos so much! Is there any way you can tell me how much product you need to have of one item when starting a business? Example baby jewelry! I'm lost on how many I need to make and buy supplies for! Thank you!♡
Hi Stephen. The answer is, it depends. I know, not a good solid answer there, but it has to do with where you plan to sell - are you doing craft shows? Then you're going to need more upfront inventory - or selling online? Then you don't need as much until orders come in. Do you want to put a lot of money in up front so you have many choices, or are you looking to see how the items sell before investing heavily in the idea.
@@CreativeHiveCo Thank you, I understand now! I need to crunch the numbers and figure out what I'm actually wanting to achieve before I can figure out the rest! Thank you again! ♡
I’m in the very early stages of Stage 1. I’m trying to figure out what people like in the crochet world that isn’t hats or blankets.
You can do an Etsy search or a Pinterest search to see what's trending right now.
Hi! Do you have any tips to spare?
I work a full time job and want to start up a little crafting business on the side. With so little time to spare it gets hard figuring out what to make that takes a small amount of time and also is beneficial in general. Piñatas, handmade poseable art dolls are my only 2 talents I've gotten down enough to show enough quality to feel comforable selling. But both take a big chunk of time over more than one day to simply make one of to sell. A Piñata can take 3 days, a poseable art doll is great to make over 100 on a piece, but takes a week to make one! Any suggestions on small general projects I should take a look at that would be more time efficient that have helped other people get off their feet just to get things out there fast enough?
I really want to make the jump into having a full time at home job like this, but since I only have myself to depend on for an income, it's very daunting to make that leap if it may be off a cliff since it takes a huge chunk of time to produce what I know how to make
For your business to be successful you are going to want to be able to produce your product as easily as you can. If these pieces are so time-consuming, then it may not be your ideal product to start out with.
Oh wow this was so valuable Mei. I don't know how to transition to handling things over to someone. Does your course help with this?
Yes, we can talk about this and we'll also take a look at whether you are being as efficient as you can. I hope you'll consider joining me! 😊
hey, I need some advice!
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I’m 14 years old , and I recently started my lipbalm brand , Hydration 4 Me, and as of right now I’m in my early stages. I’m not sure what to do next , do I create a website , go to Kraft fairs , go to esty? I around sold over 95 at my school which made me over 700 dollars in revenue, but what now? I was planning on doing some Kraft fairs , and from there create my website … but how will I bring traffic to it? Thank you for responding!!!
Congrats on your lip balm brand!! ❤️ Media Outreach is an effective marketing strategy to draw traffic to your website. I also talked about it in my free workshop here in case you want to know a bit more about it: bit.ly/3EGGC47 Enjoy the workshop!! 😊❤️
This link to one of my blogs could be helpful for you too: www.creativehiveco.com/how-to-start-a-lucrative-handmade-business-as-a-teenager/
Good luck!!
Hi i.make a hair mask. What certificates should I have to list submit to list on a handmade category and what about product lebel including the brand name ingredients should i.print the address where i menufracture the mask?pls do reply thanx
Hi! I highly suggest consulting an expert or your local chapter as laws differ depending on your country/location. You can also check out sba.gov if you're from the US. Good luck!!
Great video 📹 👍 I'm in stage one 😀
It's always good to know where you're at and where you should be headed!
Thanks for keeping us up to date on how to run our business. While I haven’t got my business off the ground yet, after this video it scary. Will I be able to make that 1st $1000.00.
I know it's scary! This business stuff is hard. You deserve more credit for being here and taking the time to learn how to do it right. It definitely takes time, but with the right know-how you can get there a lot faster! If this is your dream and passion you should totally still keep pushing forward. You can do it!
What should my first computer or tablet be for starting my spreadsheets for inventory, money spent and earned. ? I’m in overload here
Hi Julie! It really depends on you. Personally, I would recommend going for a desktop computer or laptop just because I think it's easier to work in a laptop/PC compared to tablet but that's just personal preference so just go with whatever you're comfortable with. For the specs, atleast i5 processor and 8GB RAM is good. You can also check out this link for some reference on specs: tech.co/laptops/computer-specs-explained Feel free to still ask around for some recommendations. Good luck!! You got this!! ❤️❤️
@@CreativeHiveCo thank you! I was thinking desktop but wasn’t sure ifc that was too much or if laptops were easier due to apps. I’m years behind in technology
Hi Julie! It doesn't matter if you get a desktop PC or a laptop because the specifications is more important. If you travel/move around a lot though, I think getting a laptop will be your best choice because of its portability. Good luck! I really hope you find the computer that will work for you. ❤️❤️
What about restarting after covid. My business slowly stopped. Was making 10k plus+ but was using third party shipping and printing. Now I'm printing local and shipping personally to customer. I'm not new but my system is. Have no idea what stage I'm in. Any tips on restarting or remodeling the business and what to focus on? My budget is limited but my quality product I believe is much better.
Hi! You can check out my blog post here: www.creativehiveco.com/5-ways-to-increase-sales-when-sales-are-down-in-your-craft-business/ Hope that helps!! You got this! ❤️
Excellent video amen!
I've been watching and listening to your videos all day today as I worked on tasks. There is just so much valuable and sincere content here. I've watched a lot of teachers, mentors and creators but your information and presentation is truly excellent!
Thanks,
James & Rescue Kitty😺
Thank you so much, I really appreciate that!
One important thing not mentioned here is taxes. Is the goal $10k before or after taxes, paying for help, materials etc? Or is the profit $10k? If you’re self employed you pay more tax than if you were an employee. Self employed people pay a lot in taxes. Just speaking from experience.
Thank you for these videos I appreciate them a lot. I’m learning a lot.
Good point! The ranges mentioned is sales/revenue ranges, not profit, since profit is a derivative of sales and much more variable depending on expenses. Totally agree, I've paid A LOT in taxes 😭 and know self-employed folks end up paying more.
Get an accountant who is well versed in self employment and you'll pay much less in taxes.
Hello, I like your video but have a question about your business. I'm wondering do you have employees making your product as well? From what I understand, you are in stage 4 for your own business is that true? What exactly are you automating in your own business?
Yes I do! I've had Tiny Hands for 14 years and have reached the point where I have employees making jewelry for me.
You are right that in the beginning, it seems daunting even to reach the first $1000. I am a new member of your A Sale a Day Class and I'm optimistic that I will hone my craft and learn invaluable techniques that will only help with sales. Here's to the first $1000! I can't wait!
White Space Graphics, LLC Mei knows what she’s talking about. I wouldn’t have the business I have today without her course and input.
White Space, I'm so glad that you decided to join, and I hope you are finding the system helpful to your business! And thank you, Kathy!!
I would really like to learn how to sell my homemade things and my vintage costume jewelry
You are in the right place, Sandy! You may want to watch through this playlist: ua-cam.com/video/RIAlRz-0cv0/v-deo.html
@@CreativeHiveCo thank you going to watch the video
But if it’s hand made and you get media mentions would you ever get to leave the work desk if you’re always selling out of stock?
Idk a manufacturer yet 🤦🏽♀️
This is where you would look into hiring someone to help you with making your products.
I need this infor
Thank you for watching!
7:
You made Leslie's waffle necklace!!
I did!
Your videos and info are great! But those sound effects are really annoying... too loud maybe?
Thanks for the feedback Maria!
Stage 2 is the most frustrating one! Right?
Yet it feels very fulfilling to reach that stage and the next ones after that! ❤️
@@CreativeHiveCo agreed 💯
sorry..I like your video style and you seem to know your business, but with this video, I am already 5 minutes in and you haven't given me any useful information about what TO do - you've only told me what I've done wrong.....Gotta go...
I'm sorry I lost you, Patricia! I hope you'll try another one of my videos!