Scaling a Vintage BusinessMay 13, 2021
I love my small business. It allows me to be the primary caretaker for my 7 year old, gives me challenging new skills to work on, and provides income to my family.
When I started this business 3 years ago, it was so I wouldn't have to get a job outside of the home. At the time, my husband and I agreed that if I could bring in about $750 per month that would be enough to pad our budget and allow us to save more.
I needed some time to get there, but I did get there and I grew the business to provide about $1000 income to my family, plus money in savings accounts for taxes and investing ( I am currently investing about 100-200/month on Coinbase).
I've managed to maintain this level all through 2020-2021 among many different challenges:
I've homeschooled all of this school year
Last year I worked a full-time job outside the home while my husband was out of work.
Bottom line: I'm happy where I am. But, if I wanted to grow my business to provide a full-time income, how would I do it?
- advertise my Shopify store - I currently spend no money on advertising
- increase my inventory - I rarely have more than 50 products for sale at any one time. The sweet spot for Etsy is about 100-200.
- make connections with local stores, designers, etc.
- diversify into book themed notecards, clothing, etc through drop-shipping.
- sell digital products on Etsy like reading journals, Etsy shop templates, and wall art.
- sell individual books on Etsy, my website, Amazon, and eBay instead of only through my email list (I could use a program like this to sell on multiple platforms at once).
- hire someone to help with social media or improving my Shopify store.
- seek out PR by reaching out to podcasts, bloggers, influencers.
I don't have enough time right now to do many of these things. If I wanted to make more money NOW, I would hire someone to create another Etsy shop for me to sell digital products since I've already got some things I could sell. And then I would hire someone else to do some Pinterest marketing for me.
I would choose this primarily because of something you might not immediately guess: shipping! I don't have more time to devote to packing orders, so until I have that time I don't want more orders than I already have.
Once my son returns to full-time school, I will be able to do many of these things, and it's something I'm really looking forward to! For me, owning a small business is just as much about growing and learning new things as it is about money.
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