In this video, I'm going to let you in on how you can go from a thousand
dollars a month to a thousand dollars a day.
So if scaling and growing your business is something you're ready
and interested to learn how to do and see what it takes to get there,
stay on to watch this video.
Hi, my name is Mei Pak and I help makers, artists,
and designers make a living by selling their handmade products online.
Does this sound familiar? So your handmade business is going well,
but you're still not bringing
in as much income as you would like
to because you're constantly working.
You're making those sales and you’re shipping those boxes,
but you're not sure how to do more sales without getting burnt out.
Well, first of all virtual high five,
you're already killing it. So just pat yourself on the back or on the head
or you know on your dog's head
or pet wherever someone needs to be petted but bottom line is I know you want more.
So today I'm going to tell you how you can raise your sales level from a thousand dollars a month
or wherever you're at right now to a thousand dollars a day,
which if you do the math is 30 or 31 thousand dollars a month,
which is a lot of money believe
it or not. If you put in the work
and use the right strategies getting to 1K a day is totally doable.
So let's find out how. The first step is to keep in mind that everything needs a workflow
and that workflow needs to be documented.
This will lead to increased organization, increased productivity and efficiency.
So I want you to make a step-by-step list of everything you need to do
from making the product to shipping out the
product and maybe even following up with the customer after the purchase.
This will help you to look for patterns,
so you can know where you're struggling the most and where you're doing everything just right.
This will also help you stay on top of every task,
So you never forget a single detail. Because all too often,
you know new business owners, we make little mistakes
because they aren't we aren't accounting for every detail because it's all in our head,
but when you've got a steady documented workflow
you will find that those mistakes become much fewer
and far in between. Having your entire business documented will also
help with the next thing I'm going to talk about which is the second step.
Investing in talent.
I know this is your handmade business and you take pride in doing most if not,
all of the work yourself plus you're not used to giving away part of your sales or your income,
right? Believe me. I get it. Your business is your baby.
You've put so much into it all on your own
and it can be hard to let go of any part of the process from
whether that's making the art to building your website to doing the marketing.
And you're already not making
as much as you’d like to so you’re kind of squirming at the idea of cutting your paycheck even more
and sharing that with someone else right?
But here's the thing. If you want your business to reach those high scales,
you cannot do it alone.
You just cannot. It is simply too much work
and you're bound to suffer from burnout
or exhaustion and make mistakes
as a result. And let me tell you getting to that place of burnout
you want to avoid that like the plague
because it's really hard to get out of it.
Plus once you delegate you'll make more money because your business will be running better.
It's that simple and take comfort in knowing that you don't have to hire someone
for that many hours to begin with. Take it slow
and go with what you can afford at first. If it means hiring someone for one hour a week,
that's totally fine. You just need to find that right person who will be okay with that.
Now, I'm not saying you have to just trust anyone. Make sure the
people you choose are people you connect with who are
skilled at what they do and that you know
you can trust. It takes time to find the perfect people
but believe me when I say that it is so so worth it.
Once you have a roster of great people helping you, an amazing team,
you will find that you have
so much more time to focus on the aspects of your business that only you can do
or is in your zone of Genius. No more dealing with the tedious boxing of packages
or worrying about marketing if that's not your thing.
You get to go back to the the core of your business instead of slaving away at every
little detail. Your business will be more efficient.
You've got the specialist handling different areas of your business
and your sales will go up
as a result. A big part of excelling at hiring help
and training your team involves having a well-documented business.
Ha ha ha which is what we just talked about.
Okay, so, you know what they say, “You’ve got to spend money to make money.”
I hate to say it but that is the hard truth. If you want to make $1,000
a day instead of a thousand dollars a month you need to invest in your business.
So besides making new hires, this also means getting your hands on the best software
for your business.
So that brings us to step number three investing in software.
You might think that you have your business under control,
but when you're inserting everything manually from inventory to income, finances,
you're actually wasting a lot of time. Imagine a world where in which you've got the best
software to help you make more sales, optimize your profits,
and make your day to day work routine a whole lot easier.
It's pretty tempting right? And pretty dang necessary for a new business.
If you've got shops across the internet like you have your own website,
you have an Etsy shop, maybe you have an Amazon shop,
you need to be able to manage everything as efficiently as possible.
No more doing things manually when you're growing.
Okay? We want to speed this growth up not stunt it.
I like to think of software as hiring help as well, it’s in the same category,
but you're really just hiring robots.
If something takes you five hours a month to do manually.
I think it's absolutely worth it to invest the money to have
paid software take that task off your plate
and you'll get back that five hours every month that then now you can put
towards something that you actually enjoy doing
or that only you can do. To learn about my favorite software for managing your inventory,
check out my video on my favorite inventory
apps right here. For social media marketing I highly recommend Planoly
and Later. To learn more about these tools,
you can also check out this video here for my favorite tools for Facebook and Instagram scheduling.
The great thing is there is so much software available to us as artists and business owners,
whether we need it for creating or selling or marketing or keeping track of our finances.
If you need a tool it probably exists.
So give yourself permission to use them.
When you do you'll find that you're saving time and saving yourself from headaches as well.
Now the fourth step is simple diversity or at least it's a lot simpler said than done.
Are you selling exclusively on your own site
because if so now might be the time to expand to Etsy, Amazon or to selling wholesale. Not instead,
but in addition to. The more of an online presence
you have the more customers you reach
and if you're worried about keeping track of your sales on
so many sites remember that software anything we talked about.
So diversity doesn't just refer to where you sell right?
It also refers to how you sell.
So for example, if your focus solely on organic social media
for marketing think about maybe starting to get into Facebook ads.
Here's the thing. It's more profitable
and less risky to grow your business by adding on new layers, diversifying your marketing
or creating new streams of income.
You want to explore every path you can to see where they lead. If
you're walking a straight line with your website
and marketing, just think of
what roads will open when you expand to online platforms
and new forms of advertising or promotional strategies.
You're creating more paths
for your business to make money kind of like a spider web so you can grow even faster than ever.
It's very rare for someone to grow to a thousand dollars a day from just doing one thing.
So remember how we talked about staying as organized as possible?
That goes for your finances as well.
So step number five be friends with your finances.
You need to keep as much of your data
as you can so that you have as much visibility visibility visibility visibility -
that's the key word here - as possible.
That's like one thing you take away from this video its visibility. When it comes to tracking sales,
you don't want any surprises right? As your earnings go up you will inevitably incur more costs.
That's just the nature of it.
And you need to keep track of them
because if you don't it is so easy to for things to go out of control.
Like I have been in that situation where I've spent more money than I was
making because I just didn't know I was spending
so much money. And my husband is also going through the same problem with his business.
I think everyone going through growth has the same experience.
So I'm telling you this out of experience and don't make my mistake.
Having visibility on every area of your business
will make sure that your business doesn't become totally bloated.
With a ton of expenses and eating up all your profits. Who cares, right,
if you're making $100,000 a month if your expenses are ninety nine thousand nine hundred
and ninety seven dollars.
The goal here is to be able to keep your business running
as efficiently as possible
because as you grow it's easy for us to keep things around that incur an expense,
but that don't really impact the business in any impactful way
when you can track everything
at once you will Notice any leaky holes
and address them before they go out of hand. To ensure you're maintaining a healthy profit
margin, make sure you're tracking as much data as you possibly can.
So, let's do a quick recap. To boost your sales from a thousand
dollars a month to a thousand dollars a day,
you want to get into a steady documented workflow, invest in people
and software, diversify your income streams,
and have complete visibility on your numbers and get comfortable with them. Pretty doable right?
You've got this.