Beat Those Winter Doldrums!

Oh, winter. Business is SLOW and I, for one, am having a hard time fighting the tendency for that to turn me into a big lazy slug. There are so many things to enhance my business that I never have time to do during the rest of the year that I could be using this time to do but I just don't feel like it. This may be because it won't be clear whether doing them is having the desired effect without the regular contact with customers that heavier selling activity brings. Maybe. But that's no excuse. No! Spring will be here before we know it (it really will; I should know this by now)

Money – It’s not a Dirty Word!

Wallet by LolaFalkDesigns

Last week, I was speaking to a crafter who sells on Etsy. I asked her how she manages her money. Her response may sound familiar: “Oh, yuck! I’m not a corporate type – I don’t pay attention to that stuff.”

In my job working with Etsy sellers at Outright.com, I see this happening again and again – many crafters don’t want to think or worry about money. It is scary to them and is something they avoid.

Yet, knowing where you are spending and making money in your business is critical to making a crafting business work. By keeping an eye on your finances, you can make decisions about what expenses to cut, how much to charge customers, when you can afford to invest more in your business, and what products you should be selling.

It doesn’t have to be scary and it doesn’t have to be avoided. In fact, paying attention to your business’ money situation can be rewarding and helpful. If you simply pay attention to two things: 1. Where is your business spending money and 2. Where is your business making money, it can mean the difference between a great business that supports your lifestyle versus needing to close down shop to take a “corporate” job. (And, who wants to do that?)

So, don’t avoid your money situation – take a small amount of time each week to take a quick look how you are doing financially. Your business will thank you.

About the Author:
Laura Messerschmitt is the Vice President of Marketing at Outright, a free online accounting software for small businesses. She loves helping the self-employed and small businesses to be more successful and grow their businesses.