6 Hard Truths About 3D Printing Businesses

Summary

Corey from Williams Workshop shares six hard truths he learned after a month of running his 3D printing business. From managing filament supply to the importance of focusing on one project at a time, he emphasizes the necessity of research, platform diversification, and correct pricing. Corey discusses his struggles with filament shortages, platform differences, and the need to ensure profitable pricing. He shares insights that will help others avoid costly mistakes, save time, and increase profitability in their own 3D printing ventures.

Takeaways

• 😀 Always have extra filament in stock to avoid unexpected shortages and delays in fulfilling orders.
• 😀 Don't print multiple items before listing them for sale. Focus on one item at a time to avoid overwhelming yourself.
• 😀 Not every item will sell equally well on different platforms. Tailor your product offerings to fit the specific audience of each platform.
• 😀 Utilize multiple platforms (e.g., Etsy, TikTok, Amazon) to increase your chances of success and reach a larger audience.
• 😀 Do thorough research on products and their audiences before listing them. Understand the market demand and platform specifics.
• 😀 The cost of production should be carefully considered when pricing products. Use tools to calculate the full cost, including material and operational expenses.
• 😀 Pricing models should focus on profit, not just on offering competitive or low prices.
• 😀 Be mindful of your audience on platforms like TikTok. Understand their preferences and tailor your products to match their interests.
• 😀 Managing stock and production timelines is crucial for fulfilling orders on time and keeping customer satisfaction high.
• 😀 Learning from mistakes and adapting to challenges is key to running a successful 3D printing business.

Q & A

What is the first hard lesson Corey learned when running his 3D printing business?

The first hard lesson Corey learned was ensuring he had enough filament for the items listed on his Etsy shop. He ran out of black filament while fulfilling an order, which caused delays. He now follows the rule of ordering two spools of each filament to avoid running out.

How did Corey handle his filament shortage, and what was the key takeaway?

Corey had to make last-minute trips to Microcenter and wait for Amazon orders to restock filament. His key takeaway is the importance of always having extra filament and ordering more than one spool, especially for products listed for sale.

What mistake did Corey make when working on multiple projects at once?

Corey initially printed many different items at once, but this led to an overwhelming backlog of products that weren't even listed on his shop. He learned to focus on one project at a time, only starting a new one once the previous item was properly listed.

What does Corey mean by the motto 'One is none, and two is one'?

The motto 'One is none, and two is one' means that having only one spool of filament is risky. Corey now orders at least two spools of each filament to ensure he never runs out during production.

What did Corey learn about selling the same products on different platforms?

Corey learned that not all items sell well on every platform. For example, while tumblers performed well on both TikTok and Etsy, other products, like vases, didn't perform as expected on TikTok because the audience there was different from Etsy's.

What lesson did Corey learn about researching the right audience for each platform?

Corey realized that research into the specific platform's audience is crucial. For instance, his vases, which are more suited for a female audience, didn’t sell well on TikTok, where the audience skewed male. Understanding the platform’s demographic is key to product success.

What mistake did Corey make regarding multi-platform selling, and how did he rectify it?

Initially, Corey focused solely on Etsy and didn't diversify his sales channels. After seeing success with items on TikTok, he decided to expand his focus, planning to include platforms like Amazon to spread out his chances of success.

Why did Corey emphasize the importance of research in product selection and promotion?

Corey stressed that doing thorough research before launching a product is essential. He gave the example of sending tumblers to a TikTok influencer with a predominantly male audience, which didn’t result in the expected sales because the product wasn’t suited to the influencer's followers.

How did Corey handle the pricing of his 3D printed products differently after his initial mistakes?

Initially, Corey did not calculate the costs properly and was focused too much on getting products out at a reasonable price. After realizing the importance of pricing for profit, he began using tools like 3D Print Force to factor in material costs, printer costs, platform fees, and packaging, ensuring he was making a profit.

What tools did Corey mention for helping with pricing and business calculations?

Corey mentioned 3D Print Force, a tool created by YouTuber Sam from 3D Design Bros, which helps calculate the costs associated with 3D printing, including material costs, printer expenses, platform fees, and packaging costs. This tool has been invaluable in helping Corey price his products accurately.