DON'T Sell on Etsy. Do THIS Instead and Make $15,000 Per Month

so just imagine yourself selling on Etsy and you've managed to build the business to a hundred or two hundred dollars a day and you think you have real momentum here so you're earning about five thousand to six thousand dollars a month and and you decided that you want to go full time so you quit your job then one morning you wake up and you get an email from Etsy saying that your account has been suspended Panic right so you email Etsy back and you get a template response or no you don't get a response at all and now you don't have a job or a business and this is real guys it's not a hypothetical scenario I've heard of countless stories of people selling on marketplaces like Etsy or even Amazon and have their accounts banned shut down for no clear reason and they have zero control over it now some people are not gonna like what they hear today but for the rest of you what you're gonna hear in this video is going to transform your thinking and it's gonna make you more money than you can ever imagine but let's be clear here I'm not here to put you down but I'm here to tell you the whole truth the truth that other videos often don't tell you about because I'm sure you watch so many YouTube videos telling you how to create digital product and sell it on Etsy and you make millions of dollars or create these stickers using Ai and slap it on Etsy I get it it sounds easy and the truth is you can make life-changing money with digital products I mean I've done it before something intangible can make you tons of thousands thousands of dollars every month but that money can suddenly disappear overnight if you don't do it right so I see there are three major problems when you're selling on Etsy and I'm going to share with you my hacks the things that I do to make you even more money alright so SC is a huge marketplace with 450 million visitors last month so you can imagine the massive traffic with those people already on buying mode so when you're first getting started you want to leverage their massive scale and audience but let me tell you why I never rely on Etsy alone first reason platform risk so Etsy controls everything so let's say you've taken the time to create the perfect product design the listing the images and the product description and what if you've done all that and one day is sneaky competitor just slaps a copyright strike against your listings maybe just because your product looks better than theirs and they now see you as a threat so suddenly your listing is deactivated for 10 business days which is around two weeks so you just last two weeks of sales and even when you get the listings back you probably lost your rank and momentum and what if Etsy decides tomorrow that they're gonna suspend your shop and they're notorious for doing that in fact I know a salad who has made eight hundred thousand dollars in sales who's had his account bad for three months and after three months he lost his momentum his Rank and he couldn't get his sales back to where they were so they went out of business now the second problem is price Wars the barrier to entry in Etsy is very low especially for digital products anyone can open up an Etsy shop so if you've been on Etsy long enough you'll probably know that you can't charge a fair price on your digital products because you're gonna see that the platform is flooded with sellers selling something similar to yours so you kind of have to charge what they charge or even lower I mean just look at these products they're selling for two dollars or even a dollar how are you gonna make money with that and I've seen some of these things that started with twenty dollars and they had to lower their price all the way down to four dollars just to stay afloat otherwise they'll be priced out of the market not to say that this digital products are easy to copy because think about it if you're selling a digital template a competitor just buy a product make a few changes to it and celebrity and because you can't build a brand around it you can't charge a higher price and get a healthy margin and you'll become just a commodity in the sea of the same products now the third problem is scalability let's be real here your goal in this is probably to make enough income to replace your nine to five it is definitely possible but it's going to be hard to do if it depends solely on a Marketplace so for example if you're selling a budgeting template on Etsy let's say you're selling it for two dollars to get five thousand dollars in Revenue you need to sell 2500 templates consistently every single month that's a lot of templates right now if you want to scale a business to ten thousand dollars a month you want to be able to get to that quickly and I'm not talking about five to ten years but I'm talking about six months to a year and you can't rely only on Etsy to do this well you can but there's always going to be that fear in your mind that all of it could go away if Etsy decides to close down your shop tomorrow and most importantly you don't have the customer's email list and when when you don't have the customers emails how are you going to promote your other products to them so like I said before Etsy controls everything including the customer's information so what do we need to do to solve all these problems how do you run a business without always worrying and being a slave to a Marketplace and how do you charge a decent price for your products get a healthy margin and scale up your business quickly and probably have an exit plan to sell it down the road for multiple six or seven figures well take a look at this check out the store Etsy happy downloads they seem to be doing pretty well more than 16 000 sales on the platform but if you notice they also have a YouTube channel with over 300 000 subscribers and if you look at one of their videos here you can click on the description and you're gonna see that they're directing all the traffic they get to their own website and that's basically free traffic because they're not running any ads right now having a website means that you have complete control of the customer experience and there are no Etsy selling fees which is awesome right and you can also see here that they've got 18 million views across their videos every single month and that's massive and if you scroll down a bit more they've got some affiliate links to Amazon so they're getting money from that too and notice down here that they also have a tick tock Instagram Facebook and Pinterest accounts so this is exactly what you want and if the Etsy store goes away tomorrow they still have all this massive traffic and looking at this I'm pretty sure that they're making more on the on their website than what they're making on Etsy and check this out guys according to socialblade with 80 million people watching their videos every month the earning between four thousand and seventy four thousand dollars every month in YouTube AdSense and that's not even from selling the planners and as a Creator myself I think it's safe to say that they're earning somewhere in the middle maybe around 35 000 a month so can you just stop and think about that for a minute so on top of the sales that they're getting from their planners they're making an extra 35 000 in passive income from YouTube AdSense and tell me your mind is not blown to Pieces right now so one thing that we've solved here is that with a limited platform risk you're not relying on any single platform so if one of them goes away you still have of other sources of traffic now next is how do you solve the pricewater issue well if you're driving traffic to your own website you technically don't have any competition and you can charge whatever you want so think about it if a buyer searches for a digital plan or let's see they've got 600 000 listing to choose from so I think even 10 listings there's too much competition so how do you have no competition well sell on your own website and let me give you an example here so this person made seventy thousand dollars in a month selling motion templates on its own website and he doesn't even have an Etsy shop and because he doesn't have an Etsy shop he can charge whatever he wants in fact if you see here most templates on Etsy are going for 10 to 20 dollars but he was able to charge a much higher price of 79 because he's got the proper branding and he's built the trust through his free content on social media and he's not competing with 600 000 other listings on this website and now the beauty of driving your own traffic is that scaling your business becomes that much easier here so let's say you put an extra 100 hours to improve your SD listings maybe you improve your images a bit do a bit of SEO that's not probably going to do much in sales you can only improve your SEO and images so much but the traffic you get is completely up to Etsy but imagine putting in an extra 100 hours into creating content for social media I can guarantee you that you'll get much more traffic that way I mean just look at how many views they're getting for every video and with vertical content going crazy right now YouTube Tick Tock Instagram they're all boosting the reach you get on new accounts so you can create one video and post it on multiple platforms and use the momentum and the trend right now to your advantage and once you've built a solid business with consistent traffic and healthy profits you can sell an online business like this for about 30 to 40 times your monthly profit but that multiple depends on your niche of course so for example if you're making net profit twenty thousand dollars a month from the business you can expect to sell but between six hundred thousand to eight hundred thousand dollars which is not bad at all but imagine if you only stick to one Etsy store and you can't even sell it nobody wants to buy a business that solely relies on a platform now if you want to learn more on how to build everything like I just preached I created a cheat sheet for you that you can download for free so I'm sharing with you all the tools that I use including the website platforms all the apps Lincoln bio and the short strategies and the people I learned from to scale up this digital product business that I have that's currently doing fifteen thousand dollars a month so if you want a head start you can go ahead and download for free down below alright so don't get me wrong I don't hate Etsy I think it's still one of the best ways to get off the ground and I still recommend it to be the starting point when you're a beginner just don't let it be your end point if you want to build a sustainable business but let's be real to build any business you need to start with an idea right and if you're looking for new digital product ideas I recently posted a video on Etsy stores that are doing more than 11 seven thousand dollars a month that you can scale even more with the strategies I just showed you today so you want to click on this video next and I'll see you in the next one

Channel: Jason Lee

Views: 749,170

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Id: WLPdTAzROKI

Length: 9min 45sec (585 seconds)

Published: Wed Jul 05 2023