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Seriously this time

3 March 2010

{ Ceramic Panda Bear Piggy Bank, ThePigPen }

{ Ceramic Panda Bear Piggy Bank, ThePigPen }

Sooooo I’m projecting an esty shop open date of roughly two weeks from today!  Can you believe it?  Have you thought I’ve been lying about my make-believe shop?

All I’m waiting for now is a custom stamp by Drum Chick Designs.  I need this stamp to add to my packaging materials, which I’d like to include in a photograph for my listings.  Then I’ll be ready!  I’m getting really nervous and excited all at once.

I actually think now I’m beyond the point of obsessing.  Today, I added to my handy Excel workbook a spreadsheet entitled “Investment Plans”.  (The other spreadsheets are “Expenses”, “Goals”, and “Profit Margins” – which tracks my sale price, shipping price, ingredients costs, shipping costs, fees, and taxes!)  I’m trying to be prepared for if I sell ANYTHING at all, how I will use the money.

I calculated the percentage of my costs incurred by materials against my earnings (AFTER deducting 30% for taxes) as well as the percentage of my costs incurred by shipping supplies against my earnings.  These percentages will determine how much I set aside (again, after taxes) to save or use toward these two categories, materials and shipping supplies.  I also hope to add an advertising “fund”, even if the only advertising I do is renewing items.

Then I’d like to have some business savings, personal savings, and a little bit of personal fun money from my earnings as well.  Do you think I’m getting ahead of myself?  I just like to see how everything maps out ahead of time so I can be prepared.

Do you have a technique for saving/spending your earnings from your shop?  Do you renew items or just list new ones?  How far apart from one another do you list new items?  Any advice would be great!!!

One Comment leave one →
  1. 3 March 2010 2:19 pm

    I totally understand the stress and anticipation of trying to get everything together for the launch of a new shop. I’m also about two weeks out from launching my new online shop (off of Etsy, selling handmade & eco-friendly goods by myself and other artists).

    I don’t have a set investment plan for my business, but it’s something I need to take a hard look at and work into my business plan. I do have a business savings account set up though, and I have certain payment directed immediately into that. (I do some affiliate programs through my blog, and whenever I get payouts from them, it goes immediately into my savings.) Right now, any money I make has been going back into more inventory and any other supplies I might need. I’m going to focus on free marketing at first before I spend much money on advertising… I’d like to make sure I have a good system for order fulfillment & shipping in place before I advertise TOO much… I’d rather build up slowly than bite off more than I can chew too quickly!

    Best of luck with your new shop!

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