In this post, I’m going to let you in on how you can go from $1,000 a day to $10,000 a day.
Yeah, you read that right!
My name is Mei Pak and I help makers, artists, and designers make a living by selling their handmade products online.
Your handmade business is going well, but you still aren’t bringing in as much income as you’d like to.
Does this sound familiar?
You’re constantly working, making those sales, shipping those boxes, but you don’t know how you can keep going at this rate without, higher rates.
First of all – virtual high five.
You’re already killing it, so pat yourself on the back, or the head, or on your dog’s head, or wherever.
I know you want more!
I’m going to tell you how you can raise that income from $1,000 a day to $10,000 a day.
Believe it or not, if you put in the work and use the right strategies, 10k a day is totally doable.
1. Everything Needs a Workflow
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, productivity, and efficiency.
I want you to make a step-by-step list of everything you need to do from making the product to shipping the product and maybe even following up with the customer after the purchase.
This will help you look for patterns, so you can know where you’re struggling the most and where you’re doing everything just right.
It will also help you to stay on top of every task, so you never forget a single detail.
Too often, new business owners make little mistakes because they aren’t accounting for every detail because “it’s all in your head”.
When you’ve got a steady, documented workflow, you’ll find that those mistakes are few and far between.
Having your entire business documented will also help with the next thing I’m going to talk about.
2. Invest 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 income.
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 making the art to building the website to doing the marketing.
You’re already not making as much as you’d like to, so you’re kinda squirming at the idea of cutting your paycheck even more, right?!
Here’s the thing, if you want your business to reach those high scales, you just can’t do it alone.
It’s simply too much work, and you’re bound to suffer from burnout or exhaustion and make mistakes as a result.
Plus, once you delegate, you’ll make more money, because your business will be running better.
It’s that simple.
Take comfort in knowing that you don’t have to hire someone for that many hours.
You can 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 the right person who will be okay with that.
Now, I’m not saying you have to trust just anyone.
Make sure to choose people who you connect with, who are skilled at what they do, and who you trust.
It takes time to find the perfect people, but believe me when I say that it’s so, so worth it!
Once you have a roster of great people helping you, you’ll find that you have so much more time to focus on the aspects of the business that only you can do, or is in your zone of genius.
No more dealing with the tedious boxing or worrying about marketing if that’s not your thing.
You get to go back to the core of your business instead of slaving away at every detail.
Your business will be more efficient when you’ve got specialists 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, which is what we just talked about.
You know what they say: you gotta spend money to make money.
I hate to say it, but that’s the hard truth.
If you want to make $10,000 a day instead of $1,000 – you need to invest in your business.
3. Business Software
Besides making new hires, this also means getting your hands on the best software for your business.
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 you’re actually wasting a lot of time.
Imagine a world in which you’ve got the best software to help you make more sales, optimize your profits, and make your day-to-day work easier.
Pretty tempting, right?
AND pretty dang necessary for a new business.
If you’ve got shops across the internet – from your own website to an Etsy shop – you need to be able to manage everything as efficiently as possible.
No more doing things manually when you’re growing.
We want to speed this growth up, not stunt it.
I like to think of software as hiring help, 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.
You’ll get back your 5 hours every month that you can put towards something that you 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.
To learn more about these tools, check out my video here on 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 you need it for:
- Or keeping track of your finances
The tools exist!
Give yourself permission to use them.
When you do, you’ll find that you’re saving time and saving yourself from headaches.
Now, the fourth step is simple: diversity.
Are you selling exclusively on your own site?
If so, now might be the time to expand to Esty, Amazon, or wholesale.
Not instead, but in addition to.
The more online presence you have – the more customers you’ll reach.
If you’re worried about keeping track of your sales on so many sites – remember that software thing we just talked about.
Diversity doesn’t just refer to where you sell.
It also refers to how you sell.
If you’re focusing solely on organic social media for marketing – think about getting into Facebook ads.
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 advertising strategies.
You’re creating more paths for your business to make money – so it can grow faster than ever.
5. Be Friends with Your Finances
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 as possible.
When it comes to tracking sales, you don’t want any surprises!
As your earnings go up, you’ll inevitably incur more costs – and you need to keep track of them.
If you don’t, it’s too easy for things to get out of control.
Having visibility in every area of your business will make sure that your business doesn’t become totally bloated with a ton of expenses, eating up all your profits.
Who cares if you’re making $100,000 a month if your expenses are also $100,000.
The goal here is to be able to keep your business running as efficiently as possible.
As we grow, it’s easy for us to keep things around that incur an expense, but that won’t really impact the business in any 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.
Here's a Quick Recap
To boost your income from $1,000 a day to $10,000 a day you want to:
- Get into a steady, documented workflow
- Invest in people and software
- Diversify your income streams
- And have visibility on your numbers and get comfortable with them
You’ve got this!
To learn more about how to build a successful handmade business, be sure and check out my YouTube Channel.
Are you working on building up that income? Let me know in the comment section below!