How to Start a Side Hustle on Etsy
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How to Start a Side Hustle on Etsy
Do you have an idea of a craft/product you think people will like?
You might also wonder how you can sell these products?
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Etsy is an online marketplace that enables people to sell anything. It is a safe and secure platform that provides tools and an online store to help you sell your products.
On This Page
Key Insights
🎯 When taking a photo neutral backgrounds work best.
🎯 Draw inspiration from other stores similar to yours.
🎯 Your bio is important, make sure it reflects the true nature of your business.
🎯 Don’t underestimate the importance of branding, it creates an emotional attachment with consumers.
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SEE ALSO: 6 Side Gigs You Can Start from Your Garage
SEE ALSO: 9 Side Hustles You Can Start With $100 Bucks
Let’s get to the hustles you can start on Esty.
Understand the Platform
On the surface, Etsy is just like any other marketplace, but there is something that makes it different from other platforms and that is what you have to understand. Just like Amazon, eBay, Alibaba there is something that brings people to the platform.
Think of Your Product Idea
The goal is to know the kind of product you want to sell. That is the main reason you came to the platform. So try to define your product and understand it.
This step is crucial to having success on Etsy. With a well-defined product, your customers may not feel connected to it.
Ask yourself this question,
What edge does my product have against others?
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The duration of making a product and the pricing of the product or service.
Establish a Brand
If you want to look real and professional, then don’t underestimate the importance of branding. Branding is the process of giving meaning to an organization or business.
Depending on what type of business you want to start on Etsy, there are a few kinds of branding you can establish. You can build a personal, corporate, product brand, or any kind of branding that fits your business.
When it comes to branding, you think about things like the brand logo, brand color and photograph scheme, brand message, and style. One of the main goals behind branding is to build an emotional attachment with customers and your business.
Optimize Your Bio
Don’t underestimate the importance of a bio, One of the first things anybody will see when visiting your Etsy shop page.
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When they read you they understand your business, it tells them everything they need to know about your product and your mission. A Bio will consist of Your brand’s name, description, and profile picture. So make sure your Bio draws users to your brand.
Create Your Products
At this step, you want to create a sellable product. You can call this a usable MVP (a minimal viable product). The point is to create one product that you can sell to consumers on Etsy.
One of the biggest mistakes some new Etsy sellers make is trying to create a perfect product or many types of products to fill up their catalog. This process can be a waste of time for new sellers. Instead of putting all your effort into one product and making it very good, you put minimal effort into many products that look mediocre.
To get started, just put up one item and get started, instead of waiting to put a lot of product before you open your shop is just a form of procrastination.
Product Photography
If you want to easily attract consumers to your products, then try spending more time on your product photography. Your product photography is the first contact any consumer will have with your store.
When creating your store, spend 80% of that time taking and picking the best photograph. If you are not good at taking photographs, then hire a professional to take them for you. Remember your product pictures are the first thing they are likely to see.
Pricing your Product
This is the part that keeps you up all night. You wondering and asking yourself questions like,
- How should I price my product?
- Would they buy it at that price?
- Should I reduce the price?
- Should I increase the price?
But as a new Etsy seller, you should note down the cost to make one unit of your product. Add the cost of labor, the cost of listing on Etsy, and add the Etsy fee. After this calculation, you can now determine how much you want to price your product.
Stalk the Competition
Have heard of the phrase good leaders copy, Great leaders steal.
The goal is always to keep an eye on the competition so you can always stay ahead of them.
Trust me there is no successful business that does not keep an eye on its competition. Your competition might catch a trend that you don’t know.
Final Thoughts
Etsy is a huge marketplace with annual revenue of $1.7 billion as of 2020. Creating a side hustle on Etsy is not hard, and with proper planning, you can become successful on the platform.
