I make $122k a year selling charms. Here's what I learned!

Summary

The speaker shares her journey of earning $1.6 million by selling polymer clay food charms, emphasizing the importance of focusing on one marketing strategy at a time. She highlights media outreach as a key to her success, which led to consistent sales and long-term customer engagement. The speaker also discusses the benefits of having an owned website over selling on Etsy, the power of customer service, and the strategy behind pricing products for higher profit margins. She concludes by mentioning her team-based production process, allowing her to work part-time while maintaining a six-figure income.

Takeaways

• 💰 The speaker has made $1.6 million since 2012 by selling polymer clay food charms, working only 5 hours a week on average.
• 🎯 Focusing on one thing well rather than doing many things mediocrely is a key strategy for business success.
• 📢 Media outreach, such as getting products featured in print magazines or popular websites, is a powerful and sustainable way to boost sales.
• 🔍 Research is crucial for effective media outreach; it's important to pitch to outlets that are not directly within your niche to stand out.
• 📝 A good pitch should focus on serving the media outlet and their audience, not just promoting oneself.
• 🌱 Investing in one's own website is more beneficial in the long run than relying on a platform like Etsy, as it builds equity and control.
• 💬 Exceptional customer service, even in difficult situations, can lead to positive word-of-mouth and repeat business.
• 🛍 Pricing strategy is vital; higher prices can sometimes lead to better sales and profitability, provided the product's value is justified.
• 👩‍🎨 Listening to customer requests and turning successful custom orders into permanent products can drive sales and innovation.
• 🔑 Delegating production to a team and focusing on higher-level tasks allows the business owner to work part-time while maintaining a six-figure income.

Q & A

How much money has the speaker made since starting their polymer clay food charms business in 2012?

The speaker has made $1.6 million since starting their business in 2012.

What is the average number of hours the speaker works on their business per week?

The speaker now only works on their business an average of 5 hours a week.

What strategy does the speaker suggest for effective business growth?

The speaker suggests focusing on one thing well rather than doing a mediocre job at many different things.

What method has consistently brought the speaker from a few sales every few days to multiple sales every single day?

Doing media outreach, such as getting products featured in print magazines or on high-traffic websites, has consistently increased sales.

How does media outreach differ from social media in terms of longevity and pressure?

Media outreach provides longer-lasting exposure and less pressure compared to social media, where posts have a short lifespan and require constant new content.

What is the significance of third-party endorsements like magazine features or YouTube mentions for the speaker's business?

Third-party endorsements are more powerful than self-promotion, as they come from a trusted source and are more likely to influence potential customers.

What are the two phases of media outreach that the speaker emphasizes?

The two phases are research, to figure out where to get products featured, and writing the actual pitch and follow-up to the media outlet.

Why does the speaker recommend pitching outside of one's niche?

Pitching outside of one's niche reduces competition and helps the pitch and product stand out more.

What is the speaker's perspective on selling on Etsy versus having one's own website?

The speaker views Etsy as a rental house where one doesn't own the equity, while having a personal website is like owning a house, providing more control and long-term benefits.

How does the speaker handle customer service issues and what impact does this have on their business?

The speaker emphasizes empathy and kindness in customer service, even at the cost of profit, to ensure customers leave with a positive impression and are likely to recommend the shop to others.

What is the speaker's approach to product pricing and how does it affect sales?

The speaker charges higher prices for their products, justifying this with high-quality materials and branding, and has found that higher prices can lead to more sales and revenue.