Think your real talent and passion have nothing to do with your livelihood? Think again. Here’s how to channel your idea of fun and fulfillment into solid financial profits.
When looking at business strategies, the incredible success of Etsy should not go unnoticed. Founded in 2005 and profitable since 2009, it has 500 employees and over 40 million members. Here’s the most impressive statistic: they are host to over 1 million active shops. Etsy conducts transactions in 200 countries, and showcases over 25 million items. In 2013, merchandise sales topped $1.35 billion. Billion. BILLION.
So what’s the secret of this profound success? Etsy has managed to create a platform of hobbyists, not business owners. This foolproof approach means that sellers with a talent for creating anything imaginable now have a place to sell – from anywhere.
Personally, I am an Etsy shopper. I have bought items ranging from jewelry to digital files I could print out at home. The variety available is mind-blowing; there is virtually no way for a buyer to walk out empty-handed.
Why is this model working? Simple – it banks on the passion of its sellers. People who use their hands to create beautiful products, whether physical or digital, take serious pride in what they do, and the handcraft market is booming on the global market. It’s only a matter of time before it catches on in this part of the world. Reselling products on Instagram is easy, but the ability to creating products and displaying them beautifully while ensuring a smooth purchasing flow is rare.
Some of the tricks used by Etsy can easily be applied to your own business. There is no shortcut to success, so don’t assume you can list fifty products that will sell out immediately. You reap what you sow, and if you focus on perfecting your business model, you will make the money you are striving for.
“There is no shortcut to success, so don’t assume you can list fifty products that will sell out immediately.”
Take photography, for instance. You don’t have to be a camera whiz, but a few photography tips go a long way. For shoppers who can’t touch or handle your products, pictures have to be the best they can be: clean, clear, detailed, well-lit, and taken from different angles. Shoppers should be able to make the purchase decision relatively easily. Develop a style that is very you, so shoppers can recognize your photographs from a mile away.
SEO has become a major buzzword. It can be difficult to understand at first, but the value it adds cannot be fathomed into words. Getting found on Google is tricky, but with proper research and placement of specific keywords, you can start to dominate small niches and move up the ladder in the Google search results. There are marketing agencies (in Dubai, for instance) that specialize in SEO. Imagine having the ability to know a shopper’s intent and your business name pops up in their search. Wow!
“Look around, and create something that is both relevant and uniquely yours.”
Here’s another tip, Etsy recommends to its sellers, which can easily be applied to any business: get inspired. Keep searching, read blogs and magazines, and find out what’s relevant to your buyers (or potential buyers). Look around, and create something that is both relevant and uniquely yours.
Stick to the brand you built and the approach you took. I think I use the word consistency in every article I write. Stand out from the ever-intensifying competition by building a strong, beautiful, long-lasting brand.
