Managing a 24/7 Small Business
The thing about having an online store is that it is ‘Open 4 Business–24/7′. Well, almost 24/7…at least it feels like 24/7…”Why?” you ask….because I think that newbie businesses, especially a ‘mini-micro’ business like Hide A Heart doesn’t dare take the chance to be ‘late to the dinner table’ as in, if an order is received, besides the uniqueness of our product, the only thing that sets us apart from the big guys, is a best practice model for customer service based on responsiveness. However, I am learning that there’s more to this cookie than the crumbs.
There are lots of helpful business articles and products on the web. In fact one can become cross-eyed with choices and yet, that’s a good thing because that means there are lots of places to find the products.
In the past week I discovered the free Social Media Blitz 5 day e-course found on Handmadeology and subscribed to the Hybird Biz Advisors newsletter that included a free tutorial Mastering the 7 Elements of Business Success. Also, I make it a point to drop by Everything Etsy Univeristy because Kim and Tim have made a couple of terrific videos for helping us with building SEO.
The testimony of learning is teaching–Wise Saying from the Orient compliments of Good Earth Tea Company
It’s been a big week of learning…well cramming would be a better description.
I thoroughly enjoyed Social Media Blitz 5-day e-course. It’s easy to understand and because each lesson is delivered one day at a time with assignments, I found myself relieved to find out that one need only spend about 20 minutes a day promoting…that is once one gets registered and the hang of # @ as applied to Facebook, Twitter, Digg, Pinterest, Kaboodle and Stumbleupon and revising the tags to Google with optimum in one’s Etsy Shop
The 2011 Etsy Sales Spreadsheet from Handmadeology that Tim created is an absolutely essential tool. It helped me set sales targets for 2011 and after I recorded sales-to-date, I was able to see that Hide A Heart has accomplished 50% of the sales goals for this year and there’s a little over six months left in the year. I determined my sales goals based on 2010 sales and decided to bump 2011 sales by 50%, so I’m pretty much on target, however, even with reaching half my goal, sales are not yet at a level that it would feel comfortable for me to give up my day-job.
Spending vs. Investing
I have only just begun studying, but one important point I’ve already gleaned from the 7 Elements tutorial is this statement that smacked me in the nose! Understand ”the most valuable asset for a small business is TIME“ If I’m ”spending time instead of investing time” on behalf of Hide A Heart, then I am wasting my asset!
Yeow! Did that hurt because today I realized I am spending too much time checking on whether or not the investment of time is paying off in sales. I check about every 20 minutes on any given day when actively promoting Hide A Heart products and that’s got to end because it’s a huge waste! It’s like a virus or fast growing fungus…ok, let’s call it what it really is: Compulsive Obsessive!
So I’m setting a boundary…check on sales 2 times a day–then invest the rest of the asset by determining which activities will give me the best return on my time!
Guest post by: Hide a Heart