I love crafting, I love ETSY, I love my current hobby, now I want to take the fun I am having in making jewelry I sell and add on to it. I want to add smart to the equation.
This topic has been hashed out a lot in the forums: renewing. At .20 a hit am I really budgeting or overspending? I am sad to admit it’s the second of the two. It really is hard not to. We all want sales and sometimes the EASY button (renewing) is the easy way it seems, but it’s costly and it’s just like playing a slot machine. Sometimes you get a little bit of views, sometimes a sale…. but at what loss to your hobby? Your part time adventure? Your business?
This weekend, and I encourage those who haven’t already implemented a budget to do so. I have always considered this a hobby, never could this be a nice little extra part time income, but it seems it may happen sooner then I thought. So…. it means getting serious and really searching and budgeting for what I want out of my little adventure.
So this weekend I will be budgeting:
* FEES. (Etsy, and Paypal) and how much I realistically want to spend (listing and renewing a day…) Other fees are a little harder to predict, paypal and etsy commission but can be done on an average look at sales versus dollars
* Supplies. These are just my supplies for my jewelry. Need to setup a monthly budget instead of shopping on a whim
* Packaging. This will account for jewelry boxes, protective bags, sashes, and shipping materials. Am I getting the best cost right now?
I’m actually excited to put all these little financial things under a microscope and start building a budget for my business!