A Light at the End of the COVID-19 Tunnel?

As everyone is very much aware, these are uncertain and stressful times for a lot of people around the world. There have been studies about the impact of COVID-19 on economies and ecommerce. A couple weeks ago, we asked over 500 Etsy sellers how their shops were performing in the midst of the Coronavirus. You can get a full copy of the free report right here.

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5 Keys to Removing the Risk From Selling on Etsy

Over the years, Etsy has become a leading platform for selling vintage and handcrafted products of all types. Whether you’re thinking about joining the platform as a new seller, or you already have an established seller account, the more steps you can take to remove risk from selling on the platform, the higher your chances for the overall success of your shop.

To help you establish yourself as a leading Etsy shop, here are five essential tips to help you manage a profitable and successful Etsy storefront.

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The Power of Self Talk

We all do it, whether you realize it or not. That voice in your head that either pushes your forward or holds you back.

What is self-talk?

Having positive self talk is essential to your well being and success. Think about the words you’re using in your own head.

Is the system unfair?

Are you getting your share of sales?

Are you grateful for the customers you do have?

Are you excited about the opportunity to grow your business?

It’s such a simple idea it’s easy to overlook and write off. Can you think of a time someone burst your bubble and you felt deflated? Can you think of a time someone encouraged you to keep going despite your own doubts about success?

I bet one felt a lot better. It doesn’t always have to be someone else saying these things. You have your own inner voice and it doesn’t always say things that help. You can change that! I want you to consciously be positive. Praise yourself because you deserve it.

Self -Affirmations

Have we talked about self-affirmations? Probably at some point. Well here it goes again. Look in the mirror, say something positive about yourself and your future.

For example, “I’m a successful Etsy shop owner.”  Don’t say in the future I will be. Say it affirmatively and in the present, “I am”.

Your subconscious only understands the affirmative by the way. So stick the with “I am going to succeed” vs the “I’m not going to fail”. The “not” part is ignored and you’re reinforcing the wrong message.

Does this feel awkward?

Yeah, Gordon thought so too. Think of how many people will give up because it feels uncomfortable at first. Now be one of the few that pushes through and meets success head on. Growth = change = discomfort. Learn to appreciate the discomfort that comes with stepping out of your comfort zone and growing.

Free is a Race to Zero

Free is a race to zero. A zero sum game. You can only save as much as you spend then you’re stuck. Growth is unlimited. Creating is the answer. Reducing is the opposite of creating.

A little background, on Episode 22: Greed Part 2 of Etsy Jam, I went on to discuss how free is a big lie. It’s also a race to zero…

The High Cost of Free

The cost of free is typically privacy and time. Kevin recently discovered how much info his Android phone is collecting from him. It not only tracks his every movement on a map, it also lovingly saves voice recordings of everything he says to Google Now.

IBM disabled and banned the use of Apple’s Siri on company issued devices. Siri didn’t meet corporate policy guidelines. It was feared company secrets could be recorded and sent outside of the company. Siri sends audio recordings to an Apple server for processing. Is Apple a good steward of information? Probably. They’re a hardware company and it’s transparent where they get their money. It’s not advertising and data mining.

Time is so undervalued it’s sad. Spend 10 hours to save $20 and you’ve made yourself $2/hr. You’ll have to decide if that’s a good return or not. Your situation will dictate the value of your time. Could you have spent 10 hours on something worth more? Could you have spent 10 hours designing a product that will keep making you money month after month?

Enter Real Life

I’m no saint. I fall into this trap too. Most of it is pride getting in the way. Do I want to pay more than the next guy? Of course not. I want to be the deal king. The question then is what will that title cost me.

We’re always keeping an eye on the budget at Marmalead and it’s tempting to jump through hoops to save money. This is especially when it involves building something ourselves. It’s really tempting to tinker with stuff. When you’re running a business though, it’s really important to spend your time where it’s most valuable.

A Plea For Change

If what you’re working on doesn’t add value to the customer, then it’s probably not worth doing. Even if it saves you money, it has a limit on how much can be saved. Adding customer value is unlimited. There’s no ceiling in sight.

This mentality will change you. Choose the one you want to live because it has far reaching consequences. You must either live in a world of abundance or one of scarcity. They can’t coexist.

Hint: Choose abundance.