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More About This Title Etsy-preneurship: Everything You Need to Know to Turn Your Handmade Hobby into a Thriving Business
English
Most Etsy sellers are confident in their crafting and artistic capabilities. However, many need guidance on the business-related intricacies of starting and maintaining a successful Etsy business. Etsy-preneurship helps existing and potential Etsy sellers understand the business fundamentals needed to become a small business owner on Etsy, including taxes, bookkeeping, marketing, finances, administrative tasks, daily operations, legal requirements, business plans, and improving your business skills. This book will help you make the jump from enjoying your handmade/craft/art hobby to running a profitable business.
- Etsy-preneurship offers step-by-step advice on what it takes to bring in extra income or even one day run a full-time business on Etsy
- Outlines the basic business skills and knowledge you need to run a business on Etsy
- Explains how Etsy makes entrepreneurship attainable for everyone
Each chapter even includes a downloadable business spreadsheet tool to help you put the steps into action. This book empowers Etsy sellers to turn their handmade hobby into a thriving business by employing foundational business concepts.
English
JASON MALINAK is a Certified Public Accountant and Certified Treasury Professional who is also passionate about Etsy. After his wife began an Etsy shop in 2007, Jason started helping with the bookkeeping, taxes, and legal aspects of her business. Soon after, Jason's Etsy shop, JJMFinance, was born, selling bookkeeping, tax, legal, and financial tools and advice. For years, he has provided answers to Etsy sellers' business-related questions through the Etsy forums and blog articles.
English
Preface xv
Acknowledgments xvii
Chapter 1 Etsy 1 Entrepreneurship 1
Etsy-preneurship 1
The World of Etsy 1
Entrepreneurship Is for You 2
Etsy-preneurship Defined 3
The Etsy-preneurship Model 4
My Etsy-preneurship Story 7
Instructions for Etsy-preneurship.com and Accessing Digital Downloads 9
Download: Mission, Vision, Values, and Competency Statements 10
Chapter 2 Creating a Business Plan 13
Starting the Foundation 14
Benefits of Planning 14
Breaking Down the Business Plan 15
Download: Creating Your Etsy Business Plan 25
Chapter 3 Bookkeeping 27
Benefits of Bookkeeping 28
Talking the Bookkeeping Talk 29
Core Bookkeeping Functionality 30
Most Popular Etsy Bookkeeping Solutions 32
Key Bookkeeping Topics and Tips 37
Download: Bookkeeping Quiz—Finding Your Solution 42
Chapter 4 Taxes 43
Tax Prerequisite 44
Do I Need to File Taxes? 45
Am I a Hobby or a Business? 46
Federal ID: EIN 48
Form 1040 48
Schedule C 49
Self-Employment Tax 52
Quarterly Estimated Tax Payments 53
Sales Tax 54
Home Office Deduction 56
Equipment Taxation 57
Other Tax Topics 59
Download: Tax Calculator—Schedule C 61
Chapter 5 Finances 63
A Tale of Two Financial Approaches 63
Bank Accounts 66
PayPal 68
Pricing Your Products 71
Budgeting 79
Managing Your Cash 79
Three Financial Mistakes to Avoid 80
Financial Tips 83
Download: Pricing Tool and Formula 84
Chapter 6 Legal 85
Choosing Your Business Structure 85
Contracts 88
Intellectual Property 89
Small Business Insurance 91
Other Legal Topics to Consider 93
Following Etsy’s Rules 95
Small Business Ethics 95
Download: Business Structure Quiz—Finding Your Perfect Fit 96
Chapter 7 Operations 97
Why Operations Matter 98
Etsy-preneurship Operational Standards 99
Example: Operational Standards for Providing Customer Feedback 104
Setting Your Operational Standards 106
Failing Operational Standards and Correcting the Gap 110
Download: Productivity Log and Defining Your Operational Standards 110
Chapter 8 Marketing 113
Marketing Isn’t What It Used to Be 114
The Etsy-preneurship Practical Marketing Framework 114
The Marketing Disciplines 118
Marketing Strategies Need Structure 121
The 30-Day Etsy-preneurship Marketing Plan 122
An Example: The 30-Day Etsy-preneurship Marketing Plan 124
Free and Low-Cost Marketing Methods for Etsy Sellers 127
Good Product Photos Sell: 10 Tips to Make Etsy’s Front Page 128
Download: The 30-Day Marketing Method 129
Chapter 9 Etsy Community: 40 Etsy Tips, Tricks, and Nuggets 131
How to Implement Tips, Tricks, and Nuggets 131
Download: Sales Countdown Goal Tracker, Customer Service E-Book, and Must-Read Etsy Articles (Top 100) List 151
Chapter 10 Practicing Business Self-Development 153
Developing the Foundation 153
The Top Etsy Seller Resources 155
Top Etsy Seller Apps 162
Download: Self-Development Resource Guide and Learning Opportunity Planner 164
Chapter 11 Encouragement and Next Steps 165
Real-Life Etsy-preneurs 166
Practicing Etsy-preneurship and Finding Your Inner Etsy-preneur 170
Your Internal Source of Encouragement 170
What Do I Do Next? 172
Download: Extended Interview E-Book and Next Steps—Commitment Statement and Planning Tool 173
Advanced Application Internal Study: Etsy Shop Ratios 175
Seven Etsy Shop Ratios (Stories) 176
Three Etsy Shop Forecasts (Predictions) 181
Download: Etsy Shop Ratio Calculator 183
Advanced Application External Study: Etsy Marketplace Trends That Impact Your Business 185
Etsy Weather Reports 186
Etsy Seasonality 192
Revenue Estimates 193
Etsy Wages and Efficiency 194
Day-by-Day Statistics 194
In an “Etsy” Minute 195
The Future of Etsy? 195
Download: Etsy Weather Reports Analysis 197
Download Details and
Closing Thoughts 199
About the Author 201
Index 203
