3 TACTICS to Make Your First $1,000,000 on Etsy in 2024 🚀

today I'm going to give you three steps to building a million dooll Etsy Shop you might think this sounds like clickbait but I've built two seven to eight figure businesses and these are three of the exact principles I used to build both so get out your pen and paper because these are three principles that you should be applying to your Etsy shop in order to make it a scalable business the first principle of the three is brand building a strong brand is the best way to Anchor yourself and position yourself as premium a lot of people are thinking what does branded mean what does that mean do I have to have like a nice logo and banner and have everything be the same color this Etsy shop has their logo in the banner their logos is here they're putting their logo all over their product pages as well but is this a strong brand no this shop is not positioned as a premium brand branded does not mean Niche branded does not mean you have a matching banner and Logo branded does not mean same colors having a strong brand is really about having strong associations with you your product your experience and your company right so when you are brand new the fastest way to build your brand is through associations and these are associations with other well-known or established Brands and these are brands that you want to align with so for my shop the way I did that on Etsy was aligning with some influencer Brands who were on The Bachelor The Bachelorette and I was aligning myself with Mommy influencers because I was selling to a lot of moms and Brides I had no reputation I had nothing to stand on but I was aligning with people who did have a positive strong brand and that grew my brand much faster let's say you're selling a mug and you want to appeal to that you know Free People kind of boho Lux customer well then you might go for some you very layered texture looks with a lot of accessorizing and kind of like a worn in balayage hair with beachy waves right it could also be you know how you display your products and the type of editorial visuals and Merchandising that you do for example if you are selling hair accessories or really any accessories if you have a very editorial look and way of displaying things with you know heavy shadows and dimension and depth happening kind of like anthropology does they think oh this looks very anthropology because you are displaying your products in the same way this can also be through fonts through colors through patterns and textures here's an example of a non-branded shop it is just a little bit all over the place just because it has you know everything looks the same it does not mean that it is a strong brand there's no real positive associations happening here now here's an example of a much better brand now I still think this one has a lot of improvement to be made we have a lot of embroidered items but a variety of products serving similar customers you know it's all very cozy feeling showing slippers and oversized fits and you know the colors the Hues like everything is much more cohesive Ive here hopefully you can see the difference so now socials I want to talk about social media because that is a much faster way to build your brand if you do that alongside Etsy because the more consistent you are in the more places the faster your brand will grow so you can be very consistent in your Etsy shop but if you don't have a presence on any other platform your brand is only known for being on Etsy but if you have a consistent brand on Etsy on Instagram on Facebook on your Pinterest that is your brand showing consistency on many different platforms which just strengthens your brand and it will grow you faster why is a brand important you might be thinking like do I really need a brand well a brand does really increase the Enterprise value of your business that can make you a much stronger sellable asset if you do want to have an exit strategy at some point you need to build a brand that's Way Beyond Etsy if you want to actually be a sellable business if you're thinking longterm with your shop you absolutely need to be thinking about building a brand first and formost most etsy's platform is one of the easiest to build a brand on because you own your customer experience and you own the look and feel of your shop so it's really easy to create a boutique feel whereas on something like Amazon it's a lot harder to build a brand there you don't own your experience your policies or really the interface of your shop we want to remember that we're building the brand for our customers not for ourselves so think of building a brand like staging a house don't think of creating a brand like decorating your own own house with things that you like think of it like the presentation that will appeal to the type of clientele that you want and customer experience is a huge part of branding that most people forget about like Chick-fil-A think the Four Seasons right they are known for their experience that is part of their brand that is a strong pillar of their brand all right so we've talked about branding that's the first thing number two is outsourcing now a lot of people will say Dylan that's so wrong that sounds like you're going to take advantage of people in sweat shops or something not at all you guys this is about providing good jobs for people who want them right and it's about removing yourself as the constraint of the business if you want to have a million-dollar Etsy shop and a happy lifestyle you will want to learn to Outsource if you don't want to build a million-- dooll Etsy Shop don't worry about it but Outsourcing is not what people think nowadays you can Outsource anything first you can Outsource non Etsy related items right I recommend Outsourcing everything that you don't like to do when you get to a certain level in your shop so if you're making six figures consider hiring a house manager if you hate doing housework if you're making six figures but your lawn in the summer takes you 10 hours a week to maintain consider hiring that out if you don't love doing that and don't feel guilty about it because you're providing jobs for other people and you're fueling the economy and providing jobs for others is a gift and it is a blessing that can come from your business and remember to whom much is given much is expected so be a good Steward of the business that you have and consider this as an opportunity to provide provide a living for other people Outsourcing doesn't mean that you have to get a local office or space it does not mean that you have to have people coming and sitting next to you and working alongside you every single category on Etsy can be outsourced people think of Outsourcing as just print on demand working with printify and printful things like that but every category can be outsourced whether that be digital print on demand supplies handmade items vintage so many people shy away from the handmade category and supplies because they think it can't be outsourced but there are people out there who just want to make candles they just want to use their engraving machines they just want to make the jewelry they don't want the pressure of running a business and doing customer service these people are perfect employees so you can essentially become a print on demand business in the handmade category by Outsourcing to production Partners these production Partners don't need to be local they don't need to be coming to your house they don't need to be in your backyard but you can have any product be printed on demand or made On Demand by Outsourcing production some of us we don't want to do production we want to be the Visionary right we don't want to be in the weeds of the operations and the packaging we have the ideas and we want someone else who can execute the Fulfillment if that is you Etsy can absolutely still be for you I've actually never seen an Etsy shop or a product on Etsy whether that be even a service a digital product a physical product that could not be outsourced within the business if needed also virtual assistance vas a lot of people don't know about vas but you can easily find Etsy expert vas who have plenty of experience on Etsy who are well qualified and have great experience and they're used to making $3 to $4 an hour and that's like really good money where they live it can provide you know a great house can provide for their family provide for their education all their food and necessities and with very little you can actually help people Prosper so how do you apply this to Etsy maybe you Outsource the production of your products maybe you Outsource the designing maybe you Outsource the listing creation maybe you Outsource the creation of mockups maybe you Outsource customer service or you Outsource the actual service that you are selling now I don't recommend starting your business in that way because you do need to be very Hands-On to really establish your business so that you know what levers you can pull as the business owner like for me I hardly do anything at this point for my shop and it's pretty much on autopilot because I've outsourced everything so we've talked about the importance of brand and Outsourcing but what is the third thing that you really need in order to build a million dooll business on Etsy that is profitable customers and I throw this term around a lot but I really want to break this down profitable customers targeting the right people with the right product that is what makes product Market fit who you sell to is actually one of the biggest things that can impact your profit margin targeting the right customer customers is also probably the biggest key to developing consistent growth and profitability in your business so we need to position your business at the premium end of things again this requires branding which is why Point number one is so important without strong branding you won't be able to Target profitable customers targeting profitable customers that is going to give you and your brand and your company staying power it's also going to make your growth much smoother the most price sensitive customers they are the worst customers to deal with for example if you're selling something that's let's say $50,000 to someone and it's exactly what they need what they want they're going to ask how can I wire the funds whereas if you sell something that's $100 to someone and that's their last $100 they are going to be such a thorn in your side they're going to be asking for refunds returns they're going to nitpick every single detail think about the types of customers that you want to rely on for your income and that you want to work with and that you want to provide products and services is for so those three things brand Outsourcing and serving profitable customers I believe are absolutely essential to building any seven figure business but especially one on Etsy if you have any questions about these things or what other levers you need to pull in your shop to get it to seven figures we love building businesses and we're currently helping several thousand Etsy sellers build theirs if you'd like to learn more about that just schedule a free call with myself or my team and we'd be happy to give you a free demonstration all right we'll see you guys in the next video I've gone from about $1,500 to $2,000 in Revenue a month to currently before the month's finished $4,200 in Revenue I only joined multi6 figure um Etsy blueprint about 4 weeks ago now

Channel: Dylan Jahraus

Views: 11,679

Keywords: etsy seller, new etsy seller, etsy seller tips, etsy hacks, how to sell on etsy, make money on etsy, best etsy niches, etsy beginner tips, best side hustles 2024, best etsy side hustle, etsy results 1 month, best products etsy, best side hustles in 2024, best etsy secrets, etsy shop for beginners, get more sales on etsy, best etsy products 2024, best etsy trends 2024, etsy niches 2024, best etsy tips 2024, 3 Steps to Building Million Dollar Etsy Shops

Id: 185DWtL_mF0

Length: 10min 46sec (646 seconds)

Published: Mon Jun 10 2024