Monday, January 11, 2010

Re-Evaluating ... Again

Well, it's that time of year.  Lots of people take stock of their lives ... many make New Year's Resolutions or start diets or just promise themselves to "do better".  

I've been taking a look at my business -- my business practices,  marketing, product line and the various aspects of doing what I do.  I haven't finished this examination, but I've decided to make some changes.

A year ago, I did a lot of research into marketing.  It's probably one of my weak points and something I knew little about.  I purchased several books from successful Etsy sellers with information on how to be successful selling on Etsy.  Some of the suggestions they made were pretty elementary and common to all sellers.  However, each seller had a unique thought or two -- something to consider.  
I carefully mapped out a strategy making both major and minor changes.  I changed my business name, purchased professional graphics and  took hundreds of new photos (which I'm still editing to make them right for listings).  I launched this new business with high hopes.  Unfortunately, the sales did not materialize.  My online sales account for only about 4% of my business.

So now what?

Time to evaluate.  What have I done right?  What have I done wrong?  What may need just a little tweaking?

A year ago, I examined my pricing structure and opted to include shipping in my product pricing.  I had hoped that the lure of "free shipping" would be irresistable to buyers.  Hasn't worked out that way.  So today, I've made the first business change for the new year -- I've gone back to adding shipping.  I was going to need to increase prices somewhere -- the price of silver is up and I've had to find a new source for one of my frequently used items, which also means a bit of an increase.  So, rather than increase the prices of my products, I've added the shipping again.  I'm actually kind of disappointed, but i think it will probably work out ok.

Undoubtedly, there will be more changes coming ... but for now, one cautious step at a time.  And I'll keep reading and studying, listening to the advice of those who are making it work and analyzing if their practices will work for me too.  Keeping fingers crossed....!!!