2016: Year in Review
2016 was quite the year for Once Again Sam. After taking a much-needed break during the holidays, I had some time to look back over the last 12 months and reflect on all my little handmade business has been through this past year. I felt like I barely crossed the 2016 finish line – I’ve never been so busy before, but it was a phenomenal end to a phenomenal year, and I’m celebrating big time. I’m so grateful for everything about 2016, and feel overwhelmingly blessed by each and every thing that made up this chapter.
Many of my business goals were met this year – I became an LLC, printed my first catalog, participated in my first tradeshow, graduated from Etsy’s “SAM Program”, grew the wholesale side of my business, invested in advertising, and nearly doubled my Etsy sales. I have LOTS of goals for 2017, but I’ll wait to share those after The Maker’s Summit in March, because no doubt I’ll have twice as many goals after the 2-day conference.
The significant spike in business this year certainly had to do with a lot of hard work and a little luck, but there were several specific changes I made in 2016 that might be something for you to consider as you grow (or start) your handmade business. I have learned so much from other Makers over the years, and am happy to share what I know in return. That’s the beauty of the handmade community!
1. Promoted listings on Etsy & Google: I was skeptical to try this, but looking at what I spent vs. what those promoted listings earned, it was well worth my daily $5 budget. It takes almost no effort once you set it up, and the payoff can be big.
2. Launched 5 new collections: it seems like it should be pretty easy since I love to experiment and create, but getting my act together to launch 5 cohesive collections is a lot more involved than you might think. The previous year, I hardly launched anything new, only 2 small collections, so having 5 completely new series to share within a 12 month time period is something I’m very proud of and hope to continue in the next year. Several new collections came about during the 30 day #CreativeSprint challenge (April & October). If you want to grow, you have to keep coming up with new ideas – those tried & true best sellers are fine, and by all means keep making them if they’re selling well, but always be working on what's next.
3. Graduated from the “SAM” Program on Etsy. The “Seller Account Management" Program was something I applied for back in 2015, and my year of one-on-one coaching started last December. I was teamed up with an awesome Etsy staffer who coached me, answered questions specific to my shop, and helped me set goals for the future. I highly recommend applying for this program, even if you’re an Etsy veteran like me. I’ve been selling on Etsy since 2009, been very pleased with my sales for the last 4 or 5 years, but there’s always room to grow. In my case, there was a TON of room to grow, way more than I thought, and I earned nearly twice as much on Etsy this year compared to last year, all thanks to things I learned in the SAM program.
4. Grew my wholesale business: I started out 2016 with a brand new product catalog, a booth at my first tradeshow, and high hopes of developing new retail relationships. The focused effort worked! Wholesale is something I know I can grow even further in the future, so I’m investing in tools & making a game plan for how to improve my wholesale outreach going forward.
5. Tried 5 new events (craft shows, art fairs, pop up shops): some of that came out of necessity because two of my biggest sales days from 2015 didn’t happen in 2016, and I felt I had to make up for them or my financial projections for the year were shot. Just to give it some context, these two sales days from 2015 accounted for over 20% of my income that year, so it could have been a big big problem for 2016, but everything turned out incredibly well, despite all my needless worrying. One event (Artisphere) did not accept my work in 2016, and the other (Indie Craft Parade) moved to a different model for their holiday event, which significantly changed things for me. This was out of my control, and I learned the hard way you can’t always plan your season around shows you love or have done in the past, because they can change or go away, and it's not up to you. However, I did learn another valuable lesson here – I applied for several new shows, ones I didn’t know much about, or that weren't as well known as others, and they turned out to be really great events that I will definitely plan on doing in the future. You never know how you’ll do at any given event until you try it for yourself!
So that’s it – that’s 2016 in a nutshell. Can’t wait to see what 2017 has in store. As always, if you have any general or specific questions about running a handmade business, selling on Etsy, doing craft shows, etc., please drop me a line. I’m always willing to help fellow entrepreneurs in any way I can (as long as you pay it forward when someone asks you for help in the future!).
Past "Year in Review" posts can be found in my blog archives: