4 Ways To Make Passive Income In Your Handmade Business
Printable or Downloadable Business
If you decide to start offering printable or downloadable products, that doesn't mean that you completely ignore your other shop(s). You could always make some of the items that are usually printed and shipped into a printable file, or you could create a new shop with new printable designs. Figure out which one works best for you and your business goals.
There are a couple things you should consider before deciding if you should do a printable business or not. Do you want the printable shop to be completely DIY for the buyer. What that means is, do you just want to list the design, and when they can edit it with any changes they might need. Or if you want to make it a printable file but still offer the option of you making those changes before you send them the printable file. Think about what would work best for you and your goals. Do you see yourself sitting behind a desk 40 hours a week or do you see yourself running a business that doesn't take a lot of your time?
A lot of hard work goes into creating a printable or downloadable shop. It's not as easy as setting it up and then sitting back and wait on sales. You have to do your research and see if what you are wanting to create as a printable file is even in demand. It doesn't matter what kind of shop you have, you will still have to do your SEO in order to be found in search. It isn't just about the quality of the products, but the quantity as well. The more items that you offer, the more of a chance you will have being found in search. However there is a plus side to having a printable shop. If you ever need to go on a vacation or have a family emergency, then you wont have to put your shop on vacation mode. You still have to make sure that you are still answering convos from customers. You have to make sure that you are keeping up with any new trends, and adding new products to keep your target customers engaged.
Need help creating a new product line? Click here to view my blog post that has 3 amazing tips to help you create a new product line.
Hiring Someone To Help With The Work Load
If you are constantly busy trying to fill orders, answer convos, or preparing your packaging then I would suggest that you hire someone to help with that. You can hire someone that will help out with the printing, shipping or even take over a section of creating the product. Doing that will help make your time become more passive. You will have more time to work on important business things that you normally never get around to doing. Or you could simply hire someone that will take some of the work load off of you so you don't have to work as much. It will also help relief stress knowing that you have trained someone to take over your packaging and shipping. Most people who end up having to hire someone, have a goal of training them to "take over" so you wont have to do much work. If you are one of those people who have that goal in mind, just remember that it won't come over night. It's a long process trying to train someone to take over while your not there. Depending on how many shops you have, it could take longer than what you expected it to be.
Selling Your Expertise
If you are good at what you do and know that you could teach someone how to do it as well, then I would suggest that you create a tutorial video.
- If Sally sells jewelry, and she is very good at creating new things, then she would make a tutorial video showing other jewelry makers how she makes her jewelry.
Remember, this will only work if there is a demand of people wanting to learn how you do what you do. Yes, technically you would be showing your competitors how you create your products. But that is why you charge enough, so even if they did create the same things as you, at least you got paid to show them. However, if you know how to create more than one thing that is still within the same category, then you could sell more tutorial videos.
For example if you sell webinars about making soap:
- If you know how to create not just soap, but candles and bath bombs then that will show people that you are versatile in your trade and that you have knowledge of how to make more than one item.
In order to be successful with teaching people how to make specific products, you have to have a engaged audience. You have to have people who are actually interested in the same thing you are and want to learn how to do it. In order to get engaged audience you would have to "hang out" in places that you know you will find people who are interested in what you do.
For example if you sell jewelry:
- You could join Facebook groups that are directed to people who create there own jewelry.
- You could go to local craft shows and show people in person what you do.
- You could also find local groups near you that you know people who are interested in what you do will be there.
Another way that you can sell your expertise is by giving a webinar on how to use a specific program. Such as the programs I use everyday for my business like: In Design, Photoshop, or Excel. There are people who will pay you to teach them everything that you know about how to use these programs. Especially if they are a new business owner and have no clue how to use any of those programs. Before you decide that you want to start making tutorials on how to use those programs, it's important that you understand the work that goes into it. You have to be strategic when it comes to teaching someone what you know, especially through some sort of video tutorial.
You can't just show them a video of the basics when trying to create something or show them how to use something. You have to show them step-by-step and guide them through the process. If you are thinking about trying to do a webinar to teach people how to create or use a program, then you should already have some sort of content out there. It can be a Vlog, or a actual blog that people can read.
3 Tips For Passive Traffic Strategy
Tip 1 - SEO
By doing your SEO correctly, you are driving more traffic to your shop. In order to be found in search, you must implement your SEO correctly. If you aren't optimizing your listings with relevant keyword phrases, then don't expect to get found in search. That goes for all platforms, not just Etsy. You have to make sure that people are actually searching for those keyword phrases you use in your listings. Don't use keywords that have nothing to do with your product just because it has a high search result. You want people to find you because you have came up with good keywords that appropriately describe your products.
Tip 2 - Pinterest
Many people confuse Pinterest as a social media platform, when in fact it is more like a search engine. People mainly use it to get ideas, inspiration, even products. It has the potential to be like social media, but in fact it is just a place where people can post their product, ideas, or helpful advice for people to pin and share with others.
- If i were to pin one of my products to a group board, it then has the potential to be repined over and over again making it goes viral. And by doing that I am passively driving traffic to my shop.
Tip 3 - Automated e-mail marketing
Simply just doing e-mail marketing itself is not a passive way to earn income. In the way that you have to make campaigns, create graphics and remember to send them out on time as well as sending a follow up e-mail.
However, if you set it up to be automated, then you won't have to worry about remembering to send them out on time. Granted, you would still need to create the graphics, figure out what promotion would work best for your business and send out the campaign. If you are thinking about setting up a automated e-mail, then i would suggest that you do something similar to what I do. I create all of my e-mail graphics for the whole year in advance. I set them up and then schedule them out for a certain date and time.
Setting up a year of e-mails in advance might take you a few weeks to complete, but it will be worth it in the end so you don't have to keep up with the campaigns and when to send them out. Even after you schedule them out, and realize that you want to change something about it you can still go in and edit it before it send out.
- If you realize that you have already ran that campaign in February and it didn't work out as great as you thought it would. Then you could still go in and edit the campaign to something different, or you can tweak it to seem more enticing.
Still not convinced you need an e-mail list? Click here to see my blog post that has 4 great reasons why you need a e-mail list for your business.
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