Today, I decided to create my website for a collection of wire flowers & leaves that I designed so that I can continue making what I love to make and offer smooth order processing worldwide, marking a special day in my journey.
Today also marks two months since one TikTok video went viral, and I suddenly got over 30k followers & 150 orders on my Etsy shop, which had me create thousands of wire stems... Honestly, I was super excited for my artwork to be finally recognized by an unimaginable number of people, but there are also things I wish I had known better.
So, in this very first blog post, I wanted to briefly share some steps I needed to take to get this whole thing started and what I learned through the process, hoping to provide some honest opinions from hands-on experience for those who are also looking into starting a new venture and pursuing their new passion just like me.
1. Identifying my skills:
I remember having to specify skills on my resume for attention and speak about them during company interviews. However, when starting your own thing, it's more important to identify what you'll love to do every day rather than knowing your skills. I realized that you'd never get tired of learning, and developing skills you need from enjoying what you do compared to feeling obligated to do so.
2. Choosing a business name:
Choosing a business name can be an exciting yet daunting task. I don't regret the name I came up with, but I wish I had invested more time into it because it's the first thing others will see about you and your business. Here are a few tips!:
- Choose a name that is easy to remember, pronounce, and remember so that the customers can find you easily.
- Find a unique name, avoid a name that is too generic or similar to other businesses in the industry, and avoid the trend because you don't want the name to be outdated after some time. Check for availability before you finalize, like on social media platforms or simply in google. You'll want something that pops up right on top of any result!
- Consider branding... it should resonate with your work and be relevant to the products or services you offer
3. Creating an online presence:
There is something I always tell my friends to do if they want to expose something to the public - USE SOCIAL MEDIA! When I first started my Etsy shop, the only factor driving traffic was Instagram. If I didn't have one and posted photos and videos, there'd be no way anyone knew my work existed. Social media will help you connect with potential customers or other artists you can learn from. I've learned and still learning so much from other amazing artists out there.
4. Sharing content:
You probably hear this way too much. But it's true! You can attract more followers by consistently sharing content on social media. At the beginning of my journey, I thought I'd gain fewer followers than now, although I'm still dreaming about having more and more. From my experience, sharing photos and videos of my work connected me to more existing artists and new audiences in more profound ways, and helped me gain more opinions from others so that I could develop in the right direction and engage with a similar community that ultimately encouraged me to burst in my passion
5. Registering a business & the legal stuff:
I started my Etsy shop as an individual and didn't know anything about taxes on income because I needed to make more money to care about it. So after earning a specific amount, I consulted with a tax expert to learn more.
After research, I found that creating an LLC (Limited Liability Company) is a better option for running a business as an individual with a few benefits:
- Personal asset protection: It means that your personal assets are separated from your business assets, meaning, meaning that if your business incurs debts or is sued, your personal assets (such as your home, car, and personal savings) are protected.
- Tax benefits: having an LLC can help you with tax benefits through deductibles in several ways. You can deduct all the necessary expenses incurred while running your business such as rent, utilities, supplies, advertising, and more. It also lets you deduct home office supplies if you're running a business in a home-based workshop like me!
- Easy management: An LLC is relatively easy to manage since it provides complete flexibility in how I run my business. It also requires less paperwork and record-keeping than a corporation, so I can focus on running & growing my business.
6. Developing products:
When I started making wire flowers, my initial goal was to create as many flower designs as possible simply for myself. I purposely disregarded existing tutorials about wire art or any techniques widely used for wire flower making available online. I just kept exploring different ways to find my own style that I was satisfied with. Some people might tell you to create things that people desire to have, but I'd suggest that you keep following your own creativity and make your own imagination come alive. There will be many warm-hearted people that will admire your work so much.
7. Set up the workspace:
I began creating wire flowers on my desk where I do my personal stuff like doing my work, writing my diary, eating snacks, and stuff. I ended up leaving all the materials & tools on my desk, doing all the packaging, and collecting everything I needed in one place. It was just a disaster. After one year into my journey, I decided to invest some money into another large desk where I'd focus on creating art and doing crafts. Then it changed the whole production process and saved so much time that I didn't need to switch from one setup to another. Consider having a dedicated space where you can focus on one thing and make sure it's well-organized and comfortable too!
8. Determine my pricing:
I was wondering how to put a price tag on each item that I make. I found numberless resources online that talk about pricing handmade products, and there wasn't a single page that gave me an absolute answer on this. All I knew was to have all the materials used in the production, and my time for creating had to be paid off. However, I wasn't considering all other factors to be taken into price decisions. If you want to sell your handmade products and run a full-time business around it, make sure to cover:
- materials: although the price for raw materials can be low, you're spending time carefully reviewing different materials and choosing the suitable materials for production. Besides your creativity, consider putting a price on your time spent on material hunting too.
- labor/production time: You might have a set hourly price for your production, but also consider pricing your unique techniques and skills to complete a one-of-a-kind item.
- overhead expenses: If you want your business to grow, it's not only the production cost that needs to be paid for. You might need better devices or tools so or need to upgrade in office space to improve on better making process. Also, if you're making at the home-based office, your rent, utilities, and other expenses related to your space should also be included in the product's price to keep the business running.
- profit margin: I'll have to learn more about this factor as I begin the journey on my website as well. The profit margin should also take into account the desired income, and it is important to maintain a balance between pricing that is competitive and pricing that allows the business to make a sustainable profit. I personally
9. Track finances and demand for products:
To know how you're doing with the overall profit margin, it's helpful if you keep a good track of your income and expenses. Until I opened a separate bank account just for this business, I didn't realize I was spending money on materials and shipping supplies as much as I made off of my products, leaving no profit at all. So let's pay more attention to your spending as much as your earning!
I appreciate all the best wishes and encouraging messages received in my IG DMs and TikTok account! I also wish you the best in your business!
Thanks for your time!