Warning: it’s a long post but it will give you some solid answers.
Etsy is a fairly straightforward platform, and professional support that helps develop your shop can be pricy. There is an eternal debate about whether or not it is worth to pay for professional help, but in reality, the answer is pretty simple.
It really depends on what you want to do with your Etsy shop. In most cases, having an Etsy shop starts out as a trial to see how your craftwork would perform, if you can make some money. If you have a day job and have no huge ambitions with having your online shop, it makes no sense to spend money on making more out of it. Running a shop is not a big hassle and it can bring in some income.
However, there may be a point when you realize that you actually gained access to one of the most powerful sales platforms out there and you start to see some new possibilities. You start to realize that a day job is not the only way to make a living so, for the first time, you think about getting more serious about Etsy.
Usually, this is also the point when most people spend hours and days if not weeks and months with all kinds of Facebook groups and Youtube trainings to learn the tricks of the trade. These are mostly free and can be accessed on demand when you need it. If you love to figure out things your way, this is perfect. Might take time, but you will get there eventually.
If you, however, mean business, you should start looking at Etsy in a different light. Time is money, and time spent without making money when you actually could means wasting your money and your time. If you want to hop on the fast track, ask for help – and learn while you receive it.
Do your numbers
To make sure you make the right decision, sit down and do your numbers:
- If you are selling necklaces for 3 dollars with a buck fifty margin, you will need to sell over 80 pieces to cover an Etsy shop critique service that costs 125 dollars. If you have a shop that is currently selling 10 necklaces a month, it will take over 8 months to recover your expenses – at your current rate.
- However, if this service gets your shop up to selling 30 necklaces a month, it will only take two and a half months to get your money back. Anything after that is your gain.
- If you are selling lace gowns, however, for 310 dollars with 200 dollars margin, even one extra sale might more than cover your expenses.
- Also, compare your shop’s performance with your competitors’ to see what’s possible. If there is demand for your products and other shops are serving it, there is room for you, too.
Do your numbers.
There also are three cases when you can be sure that professional help will get you ahead:
1. You are more an artist than a business person
No problem with that, on the contrary. Truly artistic products have high value on the Etsy market, so you are at the right place. However, it may be a challenge to run your shop with orders making your phone jingle all day long, with people asking about their orders, wanting to make changes. Some system problems may come when Etsy holds back the transfers or Etsy payment freezes and you need to sort them out. This is time and hassle that take you away from fulfilling your orders. The worst thing is that the more you fall behind with your orders, the more negative ratings you receive and your shop goes into a downward spiral. Your success will be your downfall instead of your livelihood.
2. You want to make a sustainable living on Etsy
Great, because Etsy can grant you that, but you need to be on top of it 24/7, which is a lot of time and effort that you may not be able to do alone. If you are serious about making money from your shop, it will become your day job, your business, that grants you your livelihood. Nobody questions if it makes sense to invest some money into developing a business – and it is the same with your Etsy shop as well. At the end of the day, it IS a business.
3. You want to grow your business
You may have produced some promising results on your own, because you found the right niche and your products are serving the needs of this niche, which is a serious business opportunity. Take your chances and grow, make some money as long as you can. There may come a point when other people notice your success and start to copy your products or services. This will result in a serious decline of income from your shop – unless you establish yourself as the-go-go shop in your niche. Again: take your chance now to grow if you are in this situation before your chance is gone.
If you got this far reading, you most probably understand that it is by no means an accident that Etsy is called the most powerful sales platform of artisan people. But it takes some knowledge and skill to ride it correctly. This is when it is worth asking for some professional support to help you reach your full potential.
At the end of the day, you need to answer three very simple questions to decide,
whether or not it is worth investing in building your Etsy shop:
- What do you want to do with your shop? Is it for fun or for business?
- Know yourself. Can you/do you want to handle all aspects of running your business? Do you have the time to teach yourself alone?
- Do your numbers. How long does it take to recover the cost of some professional support? Does it make sense?
Take these thoughts, let them settle and if you feel that it is about time to get serious about Etsy.
I’m always here for you. Let’s talk!
