Starting a Craft business

How to Take Your Craft Business to the Next Level

Whether you are tired of working at your day job, you want to earn some extra money on the side, or you are looking to monetize the passion that already consumes a good part of your week, turning your craft into a profitable business may be a good option.

But, just because it may seem good doesn’t mean that success will come easy or that it will even come at all.

What most business experts out there don’t tell you is that one of the hardest parts about turning your hobby into a viable business is the mental flip that has to happen. If you want your hobby to become a serious source of income, then you have to treat it this way. Without this initial, internal shift, it will be very hard to put the systems, processes, and goals in place needed to build a sustainable business.

That said, here are 9 steps that you need to take if you really want to cash in on your hobby:

Step 1: Get out of the “hobbiest” mentality. There’s nothing wrong with being an artist, designer, or crafter. But, until you start looking at yourself as perusing a professional career designing handmade items, you will never get to the next level.

Step 2: Get to know your ideal customer. The second step is finding out if there is a market big enough for your products. If the answer is yes, then you need to settle on a profile of your ideal customer. This is important because it helps you to figure out what your customers want, how best to reach them, and how to craft your marketing strategy.

Step 3: Build up your systems. By “systems,” I’m referring to appropriate time management, inventory management, payment processing, as well as accounting programs and tools. Having the right systems and processes in place will help you to create structure in your craft business which will allow things run smoothly and efficiently. Don’t give in to the urge to resist them. As I mentioned above, making the transition from crafter to business owner is critical, and that process starts with figuring out how all the aspects of your business will come together in a professional way.

Step 4: Embrace technology. Even for the most tech-phobic craters and artisans, in just about every niche imaginable, there are powerful, yet extremely easy-to-use programs that are designed to help small business owners run their business better. Find out what businesses similar to yours are using, and pick 2 or 3 core products to try out.

Step 5: Invest in yourself financially. There is no such thing as a business that you can start and run for free. Every successful business requires an investment of some sort- whether it is an investment of time, money, tools and equipment, or some kind of combination. Don’t sell your business short by skimping on the tools, professional services, training, and other support you need to be successful.

Step 6: Identify your niche. You can’t be everything to everyone, so don’t even bother trying. Generally, the more defined your niche, the better. You just need to make sure that your niche is big enough to earn the income you are looking for. Once you’ve established your business and have built up a customer base, then you can think about expanding into other areas.

Step 7: Create a memorable brand. Don’t just let your products speak for themselves. Create a unique identity of you and your company in order to connect with your customers in a more personal and memorable way. So, don’t be afraid to show your personality and some of the behind the scenes parts of your business.

Step 8: Partner up with other businesses and entrepreneurs. As the saying goes, there is strength in numbers. If you want to expand your reach, then one of the best ways to do that is to join forces with other businesses and craters that compliment your own products. You can, for example, co-host an event or cross-promote your products. Such collaborations tend to uplift all the businesses involved.

Another aspect of making connections is getting support and feedback from those who have businesses similar to yours. Don’t underestimate how important this is- especially if you are new to running a business!

Step 9: Get feedback from your customers. This last step is vital to the continued success and growth of your craft business, but so many new business owners overlook it. Make it a point to regularly ask your customers what they like and dislike about your products and the way you serve them. You can also find out what other types of products they may be interested in over the future.

Obviously, the kind of feedback you get will depend on how loyal and engaged your customer-base is; it also depends on what questions you ask and in what format. You can get this valuable feedback in several ways, such as emailing your customers a short list of questions, using a free app like Survey Monkey, or asking questions over social media.

Turning your hobby into a viable business may take an initial change in attitude and some hard work, but the potential rewards are great. Pay attention to the steps mentioned above, and your favorite hobby or pastime may soon become a source of serious income.