I MADE $2700 Per Week With BASIC Text Design on Etsy (2024)
TLDRThe video script discusses the feasibility of earning $5,000 a month on Etsy, despite market saturation. The speaker shares their personal experience of setting up a new store and selling a journal, a product chosen for its proven demand. They emphasize the importance of design, market research, and automation for success, and demonstrate how to calculate profit margins. The video also offers tips on driving traffic to Etsy stores through organic means and ads, and encourages viewers to take action despite fears and uncertainties.
Takeaways
- 🚀 Starting an Etsy store is achievable even in saturated markets with basic products.
- 💡 A key to success is focusing on creating a simple design that resonates with a specific audience.
- 💰 It's possible to make significant revenue by selling a product like a journal on Etsy, even as a new store.
- 🎨 Designing products can be simplified by using templates and focusing on text rather than complex graphics.
- 📈 Researching and choosing products that are proven to sell well on platforms like Printify can guide your product selection.
- 🚚 Automation is crucial for order fulfillment, allowing for hands-off management after the initial setup.
- 📊 A good profit margin can be maintained by setting the right selling price and managing costs effectively.
- 🎁 Offering personalization can differentiate your products and tap into the high demand for personalized items on Etsy.
- 📌 Utilizing tools like KD (Canva) for design and mockup generation can enhance the visual appeal of your product listings.
- 💌 Traffic to your Etsy store can be driven organically through platforms like Pinterest or through Etsy ads for a more direct approach.
- 🌟 Taking action despite fear and imperfect conditions is essential for success in starting and growing an online business.
Q & A
How much revenue is the speaker's Etsy store currently making per week?
-The speaker's Etsy store is making around $2,500 to $3,000 per week.
What were the rules set by the speaker for starting the Etsy store?
-The rules were: 1) Spend $0 to start the business, 2) The store has to be fully automated meaning no manual fulfillment or shipping, and 3) Use simple design with only plain text.
What product did the speaker choose to sell on Etsy and why?
-The speaker chose to sell a journal because it is a proven product on Printify's best sellers list and it was timely as people often buy journals or planners between December and January.
How does the speaker feel about selling in saturated markets?
-The speaker loves starting stores in saturated markets and believes that saturation is proof of demand.
What is the speaker's strategy for finding a product to sell on Etsy?
-The speaker's strategy is to find a proven product that sells well, create designs that cater to a specific audience, and focus on the design rather than the product itself.
What is the profit margin for the journal product the speaker is selling?
-The profit margin for the journal product is 44%, considering the discounted selling price.
How does the speaker plan to handle the shipping costs for the Etsy store?
-The speaker plans to pass the shipping costs on to the customer, which is a standard practice for this product on Etsy.
What advice does the speaker give to new Etsy sellers regarding traffic?
-The speaker recommends using Pinterest for organic traffic and Etsy ads for paid traffic, starting with a small budget and assessing the performance before increasing the investment.
What is the speaker's view on the necessity of using Etsy ads?
-The speaker believes that the necessity of using Etsy ads depends on the quality of the offer and the competitiveness of the market. If the market is less competitive, there is less need for ads.
How does the speaker suggest new sellers overcome the challenge of launching their business?
-The speaker suggests feeling the fear and taking action anyway, emphasizing that there is no perfect time to start a business and that taking the first step is crucial.
What additional tip does the speaker give to make products unique on Etsy?
-The speaker suggests offering personalization to make products unique, and mentions an app called Hello Custom that can automate the personalization process.
Outlines
🚀 Proving Doubters Wrong with Etsy
The speaker discusses the skepticism around making a significant income on Etsy by selling common items like t-shirts, mugs, and books. Despite the belief that the market is too saturated, the speaker challenges this notion by starting an Etsy store and creating a simple text-based product. They set strict rules for their experiment: no initial investment, full automation of order fulfillment, and a simple design strategy. The experiment shows promising results, with the store eventually making $2,500 to $3,000 a week in revenue, proving that success on Etsy is still achievable with the right approach.
📈 Profitability and Product Selection on Etsy
In this section, the speaker delves into the financial aspects of running an Etsy store. They explain how to calculate profit margins and the importance of choosing products that are proven sellers. The speaker uses the example of a journal, which is a best-seller on Printify, to illustrate their point. They also discuss the strategy of catering to a specific audience with unique designs and the importance of timing. The speaker emphasizes that while competition exists, it's an indicator of demand and that the key is to differentiate through design and personalization.
🎨 Designing and Marketing Strategies for Etsy
The speaker shares their process for creating a product design for their Etsy store. They use a template from a design tool and modify it to fit their needs, demonstrating how to create a simple yet effective design. The speaker also talks about the importance of using mockups for product listings and offers tips on how to achieve this cost-effectively. Additionally, they discuss traffic generation strategies for Etsy stores, highlighting the use of Pinterest for organic traffic and Etsy ads for a more direct approach. The speaker encourages new sellers to start small with advertising and adjust their strategy based on performance metrics.
Mindmap
Keywords
💡Etsy
💡Saturation
💡Design
💡Automation
💡Profit Margin
💡Niche
💡Mockup
💡Personalization
💡Etsy Ads
💡Launch
Highlights
The discussion revolves around the feasibility of making $5,000 a month on Etsy, despite the market being saturated with similar products.
The speaker aims to challenge skeptics by starting an Etsy store and testing the market with a basic product like a journal.
The experiment involves starting with $0 investment, ensuring full automation, and using a simple design with plain text.
Sales began with two in the first week and grew to $300 in the second week, eventually reaching $2,500 to $3,000 a week.
The speaker emphasizes that saturation in a market is a sign of demand and prefers proven products to sell designs on.
The choice of product is justified by its historical popularity and the timing of the store's launch coinciding with the period when journals are commonly purchased.
A successful journal product on Etsy is highlighted, making almost $88,000 a month with a simple design.
The speaker explains the profit margin calculation for the chosen product, aiming for at least 30% and achieving 44%.
The importance of not copying a successful listing but instead finding a niche and creating unique designs is stressed.
The use of templates and the process of creating a product design using a design tool like KD is demonstrated.
The speaker suggests using Pinterest for organic traffic and Etsy ads for a new seller, starting with a small budget and adjusting based on performance.
The concept of not waiting for the perfect conditions to start a business and taking action despite fear is encouraged.
Personalization is recommended as a way to make products unique and stand out on Etsy, with tools like hello custom to automate the process.
The speaker shares a tip to add a unique spin to products by offering personalization, which is a key feature sought after by Etsy customers.
The speaker concludes with a motivational message to feel the fear and take action, referencing a quote by Reed Hoffmaner and a biblical verse.
Three more business ideas are teased for 2024 that can be started with $0, deal with no physical inventories, and have the potential to make over a million dollars.