How to start a stationery & sticker business FROM SCRATCH! Every step I'd take if I started over now

Summary

In this video, Elely shares her journey of turning her Etsy shop into a multi-million-dollar business, offering insights into how she would start over in 2024. She emphasizes starting small with low-cost, high-return products like stickers, greeting cards, art prints, bookmarks, notepads, and notebooks. She advises leveraging platforms like Etsy, Instagram, TikTok, Pinterest, and Fair to increase visibility and sales. Additionally, Elely stresses the importance of legal steps such as setting up an LLC, getting an EIN, hiring an accountant, and trademarking a business name to ensure long-term success.

Takeaways

• 😀 Start your business with low-cost, scalable products like stickers that have minimal upfront investment and the ability to test multiple designs with low risk.
• 🎨 Focus on creating products that resonate with people, such as stickers, greeting cards, art prints, and bookmarks. Ensure they align with your brand's message and aesthetic.
• 📦 Outsource production for items like stickers to save time and increase efficiency, but handle in-house production for items like greeting cards and art prints to keep costs low initially.
• 📓 Expand your product range gradually by introducing notepads and notebooks. These items have wider appeal and help diversify your product offerings.
• 💻 Leverage platforms like Etsy for selling, especially if you are an artist. Optimizing your listings with great photos and strategic keywords can attract organic traffic.
• 📱 Utilize social media platforms like Instagram, TikTok, and YouTube to share content and direct traffic to your Etsy shop. Repurpose videos across platforms for maximum reach.
• 📌 Pinterest is another great platform for sharing product photos and videos, helping drive more traffic to your Etsy shop and increase visibility.
• 💼 Explore wholesale opportunities by joining platforms like Fair, where you can sell your products in bulk to retailers. This helps you scale by reaching a larger audience.
• 📝 Protect your business legally by forming an LLC and obtaining an EIN. This separates your personal and business finances, reducing personal liability.
• 💡 Keep track of all business expenses and hire an accountant to help manage your finances and taxes. Using tools like QuickBooks can simplify the process and save you money in the long run.

Q & A

What is the first step Elely recommends when starting a business in 2024?

Elely suggests starting with figuring out what products you want to sell. She recommends beginning with stickers, as they are affordable to produce, easy to design, and have low upfront costs.

Why does Elely recommend starting with stickers over other products?

Stickers are cost-effective and can be produced in small quantities, making them ideal for testing designs without needing large investments. They are also versatile and trendy, which increases their appeal to potential customers.

What are the advantages of turning sticker designs into greeting cards?

Greeting cards are an excellent extension of sticker designs because they translate well visually. They also don't cost much to produce, and like stickers, can be made at home, which keeps initial costs low.

How does Elely suggest handling art prints?

Elely recommends producing art prints at home, using a simple setup with paper, backing boards, and sleeves. It’s an easy-to-produce product that can be done with minimal investment, making it suitable for small-scale production.

What are the benefits of creating bookmarks as part of your product line?

Bookmarks allow you to diversify your product offerings and appeal to a different audience. They are inexpensive to produce, and they enable you to translate your artwork into a new format, which can attract more customers.

What is Elely’s strategy for selling on Etsy?

Elely emphasizes the importance of optimizing your listings on Etsy with good tags, titles, and high-quality photos. She also recommends directing traffic to your Etsy shop from social media to boost visibility and increase sales.

How does Elely use social media platforms like Instagram, TikTok, and Pinterest to drive sales?

Elely advises posting the same content across Instagram, TikTok, YouTube Shorts, and Pinterest. This cross-platform strategy helps maximize exposure and funnels traffic back to Etsy, thereby increasing organic traffic and sales.

What is Fair, and how does Elely recommend using it for business growth?

Fair is a wholesale platform where you can sell products to retailers in bulk. Elely recommends using Fair to reach a wider audience, as selling in bulk allows for larger orders and more consistent sales, helping to grow your business.

Why does Elely emphasize setting up legal and financial structures like LLC and EIN?

Setting up an LLC separates personal and business finances, protecting your personal assets. An EIN (Employer Identification Number) helps manage taxes. Elely also suggests hiring an accountant and using QuickBooks to keep track of expenses and ensure tax compliance.

What key elements does Elely believe are necessary for business success in a creative field like hers?

Elely stresses the importance of having products that resonate with people and fit an overall aesthetic. She also mentions ensuring the business is legally protected, utilizing online platforms efficiently, and creating a strong social media presence to support growth.