Saturday, August 20, 2011

Making Crafting Profitable - Part 1

So I have had several people ask me how they can make a living with their crafts.  The answer I don't know that you can.  At least not with crafts alone.  There is a great deal of time and effort that is required to make a living at any non traditional 9 to 5 job.  To help those who are considering a job working with crafts (and this can apply to almost any non traditional vocation) I thought I would offer a series of blog posts to help you along.

Now on to part one........

A quick questionnaire.

  1. Why do you want to be your own boss?
  2. Can you afford to be your own boss?
  3. Are you a self starter?
If you want to be your own boss simply because you don't like your current job, then self employment may not be for you.  When you are your own boss you will be not only head of the accounting department, secretarial pool, marketing department, production line, customer service, and distribution department, but also; in most cases; the only employee.  In others words you are responsible for all successes and failures of your business.  If you are afraid to fail, and there will be failures in this venture, then you should keep your day job and look for employment in a field you enjoy.
    How much money do you have in savings.  If you plan to start a business on the side and keep your current job until your business is successful (the definition of which will vary with each individual), you should still have at a minimum enough in savings that would allow to pay all expenses for housing, food, clothing, insurance, and basic transportation, for three months.  If you plan to quit your day job and jump in feet first into the deep end, you need to have a minimum savings to cover 12 months of the above expenses.  And even that may not be enough, especially if there is an unexpected illness, or your vehicle needs major repairs.

    If you still want to be a successful craft-entreprenur, you need to be a self starter.  Any successful business person will tell you their day starts from the minute they wake up in the morning until they go to bed at night, 7 days a week.  There is no 8 hour days.  14 - 18 hour days are more common when getting a business up and running, and 12 - 18 hour days are the norm after that.  Vacations, few and far between.  You can't put things off, because there is no one else to pick up your slack.  If you aren't prepared for eating on the run, if at all, forgoing a social life, turning off the emails, facebook, twitter, (at least the socializing aspect of them, they do work for promotions), going for hours if not days without human interaction, then self employment is not for you.

    If you have read this far and decided that you can handle the long hours, you've got plenty of money in savings for the time of business your planing to start (part time on the side, or full time), and you are prepared to work you behind off, then good luck. Tune in for the next blog post, that will discuss your next step in preparing to open you business and with luck and hard work succeed.  

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