Here’s my online income report for my handmade business, Obsidian Home Creations (TheOHC on Etsy), for July of 2018. As of right now, this is a new record for me as the highest income month for me this year and I only expect it to keep growing as we enter the fourth quarter.
Why share income reports?
Here are my 3 main reasons I share my online income reports:
1. My first goal is to inspire others.
I was absolutely terrified to start my own business and seeing others’ income reports helped push me to get over my fears. I want others to know that it IS possible to make full-time income working from home. It’s not easy, it doesn’t happen overnight, but it can become a reality.
2. This is an excellent way for me to track my progress.
It helps me to see what’s working/what didn’t work. I’m always learning and trying new ideas. This will be a way to reflect on those decisions and make better business decisions in the future.
3. I want others to know that this is something you can start AT ANY TIME in your life.
I started this as a side hustle in college and I had a career with a part-time employee before I even graduated.
What an Online Business Has Allowed Me To Do
My online business has allowed me to work from home, be my own boss, and be in charge of my future. I decide when I want to wake up, work, go to bed, when to take breaks, and a bunch of other benefits. I can decide on a Tuesday afternoon that I want to take my dog to the lake and relax for 2 hours. Do I have to work when I get home? Usually, but again, I get to decide how to structure my day.
MY 2018 JULY INCOME
Etsy Income: $4840.00
Amazon Handmade Income: $595.97
Total Income – $5435.97
Etsy had 119 orders and Amazon Handmade had 14. I’ve been selling on Etsy for a little over 2 years. Compared to the same time last year on Etsy, I’m up over 500% in revenue!! It’s super exciting to see all your hard work starting to pay off!
This was my second full month on HOA and I’m still beginning to learn the ropes.
Did I accomplish my goals I set last month? My goals for July 2018 in my June income report were:
Didn’t quite get there, but so close!
Amazon – $1000. Send in FBA shipment
I fell quite a bit short on this goal, but my revenue still increased compared to June, so I’m happy with that. I also didn’t send in any FBA shipments, as I am not sure many of my products are a good fit for FBA.
WHAT I PLAN TO DO FOR NEXT MONTH:
I’m still focusing on growing on HOA. I’ve built my shop up on Etsy to the point that sales are fairly consistent. Amazon is so much bigger of a marketplace that I’m super excited to try and capitalize on a new platform. Everything about Amazon is different from Etsy. This means I’m spending a large chunk of my time researching how to sell on Amazon and get found in search. I plan to start running advertising campaigns on Amazon and spend most of my time learning that.
My goals for July 2018
Etsy – August is a slower month for me before the big upswing into fall and the fourth quarter. I want to use this time to make as much backstock as possible for my items so that I’m prepared for a big September.
Amazon – Launch automatic campaigns for my 2 main product categories. This will be “getting my toes wet.” The campaign will automatically generate target keywords for me. I’ll work on manually targeting with ads later.
WILL I SHARE MORE INCOME REPORTS?
I want to continue inspiring others in their journey, whether they haven’t started yet, just beginning, or have already begun but are considering giving up hope on their business because it’s not going the way they planned.
As I said earlier, I want to use these reports to track my progress, make goals, and see if I accomplished those goals. It helps with accountability and to motivate me. I want to always strive towards setting new and bigger goals.
The 3 Biggest Key to my Success Thus Far:
You’ll never make any money online with your own business without starting and trying. I’ve felt like a failure so many times over the past 2 years. I’ve lost count. It’s a reoccurring theme for me. Learn to embrace failure. As John C. Maxwell (author, speaker, and pastor) wrote in his book, Failing Forward, “Fail early, fail often, but always fail forward.”
Search Engine Optimization (SEO)
I can’t even stress how important this is for your shop. SEO is my bread & butter. I haven’t put very much time and effort into social media. Almost all my sales come through search on Etsy/Amazon. I have many items that rank on page 1 and sell every single day.
I’ll be VERY honest here. I’m still not satisfied with the photos I have for my products. They’re certainly much better than when I began, but could still improved. When you’re online, your customers can’t see or touch your product. You have to sell them with your photos. There are so many beautiful products on Etsy and Amazon and competition is HIGH. If your photos are lacking, it’s hard to get views, let alone sales, even if your SEO is spot on.
What I learned in July:
Selling on 2 platforms is such a good idea for my business. I’ve experienced having all my eggs in one Etsy basket and it doesn’t work for me. It’s also too stressful to solely depend on one source. Spreading your income across multiple platforms allows you to increase your revenue and stabilize your income.
What did you learn this month? What are your goals for next month?