Here’s my online income report for my handmade business, Obsidian Home Creations (TheOHC on Etsy), for June of 2018. As of right now, this is the highest income month for me this year and I only expect it to keep growing as we enter the fourth quarter.
Why I Share Income Reports
Some people wouldn’t dream of sharing how much money they make and others simply don’t understand its relevance. For me personally, before I started selling on Etsy, I wanted to know that it was possible to make thousands of dollars a month online.
After all, 3 years ago I didn’t even know Etsy existed AT ALL. And now it, along with Handmade on Amazon (HOA), allow me to start this company and avoid working for someone else. I choose to work from home and I am the boss. This is something you can start with zero experience and doesn’t require a large initial investment.
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 a 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 anyone can start AT ANY TIME in their life.
I started this as a side hustle in college and I had a company with a part-time employee before I even finished my degrees.
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 JUNE INCOME
Etsy Income: $4257.00
Amazon Handmade Income: $330
Total Income: $4587.00
Etsy had 93 orders and Amazon Handmade had 8. I’ve been selling on Etsy for a little over 2 years. Compared to the same time last year, I’m up 350% in revenue.
This was my first full month on HOA and I’m only just beginning to learn the ropes. I have about a dozen items up (90% FBM and 10% FBA).
What I Plan To Work On For Next Month
I plan to really focus 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 to capitalize on a new platform. Everything about Amazon is different from Etsy so I’m spending a large chunk of my time researching how to sell on Amazon and get found in the search.
My goals for July 2018
Etsy – $5000. I’m currently on pace to hit this number and will continue to fulfill orders as they come in.
Amazon – $1000. In order to increase my revenue on Amazon, I need more listings. My goal is to reach 30 items by the end of July. I also want to design new products specifically for FBA to reach a wider audience. I plan to have another FBA shipment sent before the end of July.
Will I Share More Income Reports?
I want to continue inspiring others in their journey, whether they haven’t started yet, they’re 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 to always strive towards 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 simply 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, an author, speaker, and pastor wrote in his book, Failing Forward, “Fail early, fail often, but always fail forward.”
2. Search Engine Optimization (SEO)
I can’t even stress how important this is for your shop. SEO is my bread & butter. I honestly haven’t put very much time and effort into social media. Almost all of my sales come through the search on Etsy. I have multiple items that rank on page 1 and sell every single day.
3. Excellent Photos
Honestly, 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 be improved I think.
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 that 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 June:
Selling on 2 platforms is rarely a bad idea. I’ve experienced having all of my eggs in one Etsy basket and it’s just not smart. Spreading your income across multiple platforms allows you to increase your revenue and stabilize your income.
I’m still frustrated by my income because I’ve had better months last fall-winter. But looking at my revenue increasing 350% from last year reminds me that this isn’t a sprint. It’s a marathon. You can’t always compare things to the best you’ve ever had. It’s all about perspective. I’m frustrated because I could easily handle a lot more orders in a month, but I need to remember where I was at this point last year. At this time 1 year ago, I wasn’t even sure if Etsy would be able to pay all of my bills every month and now it consistently provides for me month after month. And I am incredibly grateful for that.
What did you learn this month? What are your goals for next month?