Owning a handmade businesses can come along with a lot of struggles. Like, not getting enough sales and lack of visibility.
They can also run into "good problems" such as:
- more demand than supply
- lack of time to create their product
- fear of taking a break from their shop (whether it's for a vacation or personal time) and losing income
These are all highly stressful situations if your business is just a one person team. Everything piles on top of you and you're the only one that can dig you out. Not fun.
So, what do you do when you just want a break or you would love to have some passive income that you could count on? You think bigger and deeper. Here's how.
First, get in the right mindset. I talk about this all of the time, but EVERYTHING starts with mindset. Write down your why.
What is your main reason for expanding your reach and making more sales at a passive income level?
What would you do with this extra exposure and money?
Think hard on these two questions and write down your answers. Seriously. Write them down.
These are important to address first and foremost because you're telling your brain (and the Universe if you wanna get woo-woo with me) that you're ready for this growth and you know exactly what you will do when it happens.
Now you need to identify who and why this passive income product will be marketed too. Will your passive income customers be the same as your handmade product customers or will they be from a completely different chunk of people?
Here's an example. Let's say you create organic skincare products. Your target customers are people who care about the environment, are conscious about what they put on their face, are women ages 20-35, and who love and believe in the power of essential oils.
You really could go a couple of routes with this. If you're going to continue to target your handmade product audience then think of what would ENHANCE their experience with you.
- What would make their lives easier?
- What could you create, that could be passive, that they would just have to have?
- What else are they interested in?
Imagine they're shopping in a boutique.
- What kinds of questions are they thinking to themselves?
- What kinds of questions are they asking the sales associate?
- What are they debating?
You could also start targeting a completely new audience. What if your business expertise was so valued that beginners would love to know how you started and how you run it? Think of the people that come to you and ask you questions about how you did this and how you did that? Don't you wish there was an easier way to answer the same question all of the time?
I created a super awesome e-book for you that will give you a TON of examples of how you can earn extra income with your handmade business. And I promise you, these will not take up a bunch of time or cost a ton of money to do. You can definitely do all of them for free for sure. Passive income products just take time up front, require maintenance over time, and that's about it. No need to restock, worry about inventory, shipping, or taking time off.
Do you see where I'm going here? I'm taking you out of your cute, little handmade box and I'm showing you how to stand out so your life is easier and you can GROW. That's my main purpose and passion over here! You don't just have to do one thing if you don't want to. We're women, we're basically superheros.