5 Things Crafters Waste Time (& Money) On

I made this list based on areas I wasted time on when starting my handmade business. I saw positive changes when I corrected them, so I think the changes can benefit your business too.

There are only so many hours in a day and I know many of you are running your businesses as a side project. This means you must be strategic about how you spend your time and money.

Check to see if you’re making any of these mistakes.

 

#1 TIME & MONEY WASTER: Creating

Of course, you need to create products to make sales.

But creating more when the first round of products hadn’t sold was the biggest time and money-wasting mistake I made.

Creating stock is beneficial when you know there’s demand for it (here are 5 ways to check) and you have proof in the form of sales.

With all the competition, it’s easy for a small business to get lost. So you have to find a way to stand out or alter your product to be one people are searching for.

Give consumers a reason to buy your products over the others on the market.

Determine:

>> Which target market you want to serve (here’s an easy way to find a good target market)

>> What it is they’re searching for and need/want (here’s a guide to find what your target market is searching for)

Then create products that align with that.

Don’t keep creating new products until you determine exactly what it is people love about the ones you’ve already sold, or don’t love about the ones you haven’t sold. Too many products and options can actually LOWER your sales (here’s proof).

My lack of sales wasn’t due to a lack of product; they were due to a lack of marketing. 

I used to spend about 80% of my time creating stock and 20% quickly snapping photos, uploading them, writing a quick description, and listing them online. I would also rush through planning my display for craft fairs, contacting retailers to sell wholesale, and several other important tasks.

To be successful when running a small business, creating cannot take up the majority of your time.

There are too many other tasks that need your attention and are necessary to sell your products. Such as:

• Taking professional photos
• Writing powerful descriptions (how-to, examples & template here)
• Updating your Etsy shop announcement or home page text (here are do’s, don’ts, and examples of Etsy shop announcements)
• Testing different social media platforms and interacting with followers (check out 5 STEPS TO VIRAL SOCIAL MEDIA POSTS)
• Sending press releases to gain media exposure
• Cross-promoting with other businesses
• Writing blog posts
• Starting, growing, and sending newsletters
• Working on SEO to grow traffic to your website 
• Researching and applying to new craft shows
• Getting your products into retailers (researching retail stores, creating lookbooks, sending samples, meeting with owners, etc.)
• Packaging and shipping orders
• Retaining existing customers
• Planning and preparing for growth
• Etc.

There isn’t a right number, but I think a good place to start is 50/50 (50% of your time is spent creating and 50% of your time is spent marketing and selling).

If you need help determining the other types of tasks you should be working on and how to get your business organized, check out:

• THE SUCCESS PLANNER (for your handmade business)

 

TIME & MONEY WASTER #2: Low-value tasks

Think of low-value tasks as ones that give you little or no return on investment (ROI).

There will be some tasks that are considered low value but still deserve your time and money, such as paying your bills or legally setting up your business.

However, the majority of business tasks should give you a ROI.

Meaning, any task you spend money on (your time = wages = money) leads to sales that earn that money back.

To know if a task is of high value and giving you a return on time or money investment, you must be tracking results.

Are your social media posts just racking up likes, or are they actually driving traffic to your website? And do those website visits convert to a desired action? (e.g. signing up for your newsletter or purchasing an item).

Start by tracking what you work on each day, e.g.:

• Posting to social media
• Creating products
• Contacting retail stores
• Answering emails
• Etc.

And calculating how much money you spend on each task (time is money; multiply hours worked by your hourly wage).

Then, as best as you can, determine how much revenue each task generates. 

From that generated revenue, subtract the money (and wages) spent on it, which will tell you your profits. 

>> The tasks that generate profits are high-value tasks and should get more time in your schedule. 

>> The tasks that don’t generate profits are low-value and should get less time in your schedule.

For tasks that are low-value but must be completed (e.g. answering emails), find ways to complete them more efficiently so less time and money is spent on them.

Not knowing the numbers of your business is sort of like baking a cake without knowing the measurements needed for each ingredient. You’ll get something that resembles a cake, but people probably won’t want seconds of it.

If the number side of the business is something you tend to ignore and just hope it works out (no shame, I used to) THE SUCCESS PLANNER will help you track important numbers, calculate important equations, and best of all, understand them.

 

TIME & MONEY WASTER #3: Competition

I fell into this trap just the other day. I got sucked down a path of looking to see what others in a similar industry are doing, which made me feel like I’m not successful enough, and then it felt like a dark cloud was hanging over me the rest of the day.

Not only was it a waste of my time to look at competitors, but it also negatively impacted my work the rest of the day because I was less productive with my negative attitude.

The more I believe I can be successful and appreciate all the ways I’m different from competitors, recognize what I’m great at, and in general, have a positive outlook, the better my business gets.

It’s almost impossible to do that when I’m focused on what others are doing and paying attention to what they’re great at, which only triggers a sense of lack or being “not good enough”.

It’s also important to believe in your abilities and knowledge.

Don’t go down rabbit holes looking for answers. 

Guidance is great, but don’t let too many people’s opinions on what you “have to do” pull you in different directions and overwhelm you. 

I didn’t think I could ever be truly successful because I’ve always hated hustle culture and “doing things that scare you”.

Although I said yes to TV and radio interviews and could do them, I dreaded them from the moment I was asked to the second they were over. And the results reflected that.

Once I embraced my introverted side and stopped feeling guilty for not wanting to do the things my competitors were doing, I was able to focus on what I was good at. 

Don’t forget to tune into your inner guidance and pave your path. You know what you’re doing 🙂

 

TIME & MONEY WASTER #4: Branding

Should you spend time and money on your brand? Absolutely!

But it must be done purposefully, otherwise, it’s a waste of time and money.

Many handmade business owners tend to put the cart before the horse when it comes to their brand and branding.

First, you must define what your brand is.

>> Here are 3 (Easy) Steps to Define your Craft Business’s Brand

And to do that, you must have a clear idea of what you offer, how it’s different from what’s out there, and why it matters to consumers. In other words: you must be very clear on your USP (unique selling position) before you start defining your brand.

>> Here’s one of my most popular articles on finding a good USP

If you haven’t thought about those aspects, you’re likely wasting time and money having a logo designed and plastering it on your business cards, packaging, website, etc.

Once you have clearly defined your brand, then you can work on branding.

I like to think of branding as the act of applying your brand and getting your brand’s message out.

Let’s say I started a business selling knitted scarves, mittens, and hats because I’m an animal lover and don’t like how sheep are typically treated in the harvesting of wool. I love animals and want them to live happy, healthy lives.

“Love”, “animals”, “cute,” and “happy” may be words my brand is built on.

• When choosing a logo, I would want it to be cute, use happy colors, and maybe work in a heart or sheep icon.
• When selecting materials, I would choose synthetic materials or cruelty-free wool.
• When choosing names for my products or writing descriptions, I’d want to be sure they’re written in a cheerful, playful tone and express my love for animals.
• When selling at a craft fair, I would want my display to communicate “cute”, show my love for animals, and have conversations with shoppers that share how sheep are often harmed in the harvesting of wool. But at the same time, get them happy and excited about supporting a good cause when they buy from me.
• When marketing on Facebook, I’d choose images and messages that point out my focus on cruelty-free wool and tell the story of my brand.

Your USP and brand will impact every aspect of your business.

So, branding is important, but it’s a waste of time unless you’re crystal clear on your brand.

 

TIME & MONEY WASTER #5: Saying “Yes”

When I started my handmade business, I didn’t want to risk losing a single sale, so I said yes to everything.

• “Yes” to events that weren’t a fit
• “Yes” to custom orders I had no interest in making
• “Yes” to marketing opportunities that made me feel extremely uncomfortable
• “Yes” to replying to emails at all hours
• Etc.

Saying “yes” without thoroughly thinking through what I was saying yes to meant I was unnecessarily putting a lot of low-value tasks on my plate.

Don’t feel guilty about saying “no”.

Remember that people are thinking about what’s best for their business or lives when they contact you.

>> An event organizer asking you to participate in their not-quite-full craft show is likely more about putting money in their pockets and may not be the best fit for your business.

>> A last-minute shopper who needs a gift like, yesterday so their friend doesn’t think they forgot about their birthday, is not thinking about the extra hours you have to work to finish an order, the rush hour traffic you have to sit in to make it to the post office and mail one item, or the other tasks that get off track because of their poor planning.

Sometimes the stars align and something benefits both parties. But only you know if it’s best for your side and you must make decisions accordingly.

If you’d like a list of other areas that I believe, as handmade business owners, we can all be a little too flexible and saying yes can sometimes lead to a time/money waster, check out: 10 Times a Vendor should say “No” to a Craft Show Shopper.

 

Any other handmade business tasks you’ve discovered aren’t worth your time? Share in the comments!