Wednesday, January 8, 2014

In My Studio: Taking Stock



Wow its January again and time for me to take stock of my business So Handmade. Take stock literally by looking at my inventory of products and materials and also take stock figuratively- analyzing the years highs, lows and planning for 2014.

Here are some useful tips to take stock of your own business to make it more profitable, less stressful and more streamline for the new year.

1) Analyze your sales figures for 2013, look at:
  • What marketplace was most profitable (Etsy, shops, craft fairs)
  • What products sold well and what products didn't sell
  • Which products were most profitable (bearing in mind materials and labor)
  • Did you meet your sales goals?
  • What is the competition like for similar products to yours? Are the prices and quality comparable or do you need to re-think your line.
2) Look at your Etsy feedback and think about any comments you got from customers at craft fairs:
  • Is there anything you can improve?
  • Were there any custom requests for products/ sizes that you don't carry? Is it possible for you make these often requested products.
Pantones 2014 Color of the Year- Radiant Orchid

3) Look at the trends for 2014. Which colors and images will be in? What new technology will be trending? For example any new gadgets like iphones/ tablets etc which you can make accessories for.

4) Plan your product line for 2014 bearing in mind all of the points above.
5) What are your business and sales goals for 2014? What is your sales strategy? Will you continue selling in the same marketplaces or investigate other opportunities.

6) Make sure to mark your calendar with any holiday specific products you want to make to ensure that you get them made well before the holiday. Look at one of my previous blogs In My Studio: Keeping up with the Calendar for all the 2014 holiday dates.

7) After planning your product line look at what materials you will need, inventorise your store cupboard and start looking for deals for any materials you will need, remember buy bulk where possible to save costs.
8) Get organized, tidy your studio ready for the year ahead (for help look at my previous blog: In My Studio: Getting Organized).

9) Get all your documents together for your 2013 tax returns, do them while last year is still fresh in your mind and not later in the year when you have already 'moved on'.

10) Plan which craft fairs you will do and mark on your calendar when applications are due.
“The best way to predict the future is to invent it.” – Alan Kay 
  
Good luck and Good Making!
Sarah Omura - So Handmade

Monday, January 6, 2014

A Simple, DIY, Hudson Valley Wedding - Intro

Flower and Spiral White Topaz Engagement Ring Set by Moonkisdesigns


To be honest, I've been planning my wedding to Thomm in my head for the past two years - and who can blame me? Weddings are gorgeous! Any excuse I have to look at wedding paraphernalia is good enough for me. But recently, we settled on a date and an engagement ring, so now I'm starting to get into the logistics of holding an actual wedding, which can be a bit overwhelming.

For those of you who don't know, the Hudson Valley is one of the most expensive places to get married. Pretty much anywhere around New York City has an average wedding cost of $30,000-$45,000, although most people get married for less than that, and the biggest weddings may throw off the scale. Chelsea Clinton's wedding in Rhinebeck cost 2 - 5 million, but another recent celebrity wedding between Kristen Bell and Dax Shephard only cost $142 including gas (this wasn't in the Hudson Valley, though). Still, no matter your price range, it's almost impossible to get around the fact that in weddings can be very expensive, both in time and money, and the little things add up fast. 

Wedding Shawl Bridal Accessory white ivory natural by MollysPurl
Now most advice you get on how to hold a "budget" wedding involves cutting your guest list, going off-season, only serving desserts, hors d'oeuvres, or breakfast for the reception. Most DIY books simply show you how to make cheap crafts rather than recommending creative ways to feed people, get them to dance, and get those photos shot. (However I did just read A Practical Wedding by Meg Keene and, aside from making me cry repeatedly, it goes into those sorts of things). On top of that, there’s ton of professionals telling you about the horrors of DIY and everyone from your family to complete strangers telling you what you need to make it a real wedding or how your guest won’t have any fun without a full bar. Some of those people do have your interests at heart, but others just like being bossy or want you to hire them.

Baroque Crystal Pendant Necklace, Silver by merryalchemybridal
So if you have your heart set on those 100+ people, having a wedding while it's still nice outside, and feeding people real food, what are you going to do? First of all, I recommend figuring out what is most important to you and putting most of your money to that. For me, it's going to be the wedding venue and possibly the videographer, but, after that, I'm going to have to work twice as hard (or possibly 4x) to figure out how to get the most bang for my buck. Like I said, it's a huge time expense but that's worth it to me. Luckily, as I'm an artist, I'm going to get creative! I hope I come up with some ideas you haven't thought of for your own wedding. 

Holidays White and Gold Ornate Dangle Earrings by pulpsushi
Once you've decided on what's most important , figure out approximately what your budget is. This number can be as loose or as tight as you want it, but it should have some bearing on reality, so get an idea how much your family, or their family, is (or isn’t) wiling to contribute, and how much you and your fiance can contribute as well. Now, if that number turns out to be way more then you expected, don’t just start throwing your money around for the wedding willy-nilly! Just because you have the money doesn’t mean you’ll want to spend all of it or that what you’re spending it on will be worth it the day of. Also, if you’re not careful, you might go over-budget, even if it seems like way more money than you could ever spend on one day. I’m sure your family will be pleased if you don’t spend it all, or you can always save it for the honeymoon! Now, if it’s less than you expected, don’t fret too much yet. It will work out somehow and worrying will just drive you crazy and then you might just end up over-spending on comfort food and cozy blankets to try and relax.

Blue Geek Men Tie Tack TC004 by GetGlassy
Finally, figure out what resources you have at your disposal. These aren’t just the objects you have that might help with decorating or serving your guests (though those help) but also includes any skills you and your friends have. These things might not actually save you money, but it will make things more personal and make your friends and family feel more involved. To do this, you really have to be the one to approach your friends and family. They may offer to help but you probably have a better idea of what you need. Most importantly, play to your helper’s strengths! If you have a friend who is awesome at baking, get them to bake something. Don’t ask them to help address invitations - that’s more of a job for someone with great handwriting. Keep in mind that, if you’rd asking someone to use a specialized skill, at least offer to pay for the materials they’ll use! This is especially true if they already are doing it professionally. You can ask how much they usually charge and they’ll probably offer to do it at a discount or for free as a wedding gift, but don’t expect it. They’re helping you out, so help them out as well. Also, you should be the one to bring up the money issue, as they might be too polite to and chances are you might forget when things start getting crazy later on, so they might have to remind you anyway. Although this might not save you much money, wouldn’t you rather show off a beautiful dress made by a friend than one picked up at a bridal salon? 

Dress by Holly Mccabe possibly available at Surviving Sisters' Boutique
 (Model: Amber Hawkinson, also Holly will be making my wedding dress)

Keep in mind items you can collect over time or borrow. For example, I already have a small collection of empty pasta jars I’ll be using as vases and my mom has a lovely white serving platter I intend to use for something. For this, you might just want to start keeping a list of things to ask to borrow later on, even if you’re not sure who would have it - you’d be surprised how many people have sound equipment sitting in their basements waiting to be used.

No matter what happens, whether things go exactly as planned or not, whether you spend hundreds or millions on the day, the important part is that you’re celebrating the love you have for one another and the uniting of a family of friends and relatives. Years later, you and your guests won’t be discussing how much they loved the deluxe porta-potty you sprung for, they’ll be telling stories about the toasts that were given, how much fun they had, and how the two of you just glowed while looking at one another.

P.S. If any you guys out there have any wedding suggestions, feel free to leave a comment! We could use all the help we can get.

Thursday, January 2, 2014

Creating Success from the Inside Out - 2013 Year in Review


One of the things I have learned about goal setting over the last couple of years is that it's important to take the time before setting new goals to review the previous year's goals.  To take it even further, this time of year is really a great time to look back at the year as a whole and reflect upon the wonderful things that happened to you this year, the challenges you faced, the lessons you learned, and overall the feelings you have about the year.

How do you go about doing this?  There are so many ways.  You could get together with your whole family and make it a yearly tradition.  Make a nice family meal and afterwards have everyone share their yearly highlights, some things that were really hard for them and how they handled it, a few things they accomplished that they are most proud of, and some lessons they learned that they will take with them into the new year.
 
Or, you could keep it private and journal about your year.  Look at your previous year's resolutions.  Which ones did you achieve?  Which ones are no longer valid - you changed course, went in a different direction, or came up with newer, more meaningful resolutions?  Which goals, if any, were too ambitious or unrealistic?  Which ones did you hit out of the park?  What did you do that helped you to fulfill a resolution?  Conversely, what could you do to help you fulfill resolutions that you missed this past year?

Custom Altered Book by RobinsArtandDesign on Etsy

The tool that I used last year and am using this year to help guide me in my year in review, and then to set my goals and intentions for next year, is Leonie Dawson's 2014 Create Your Amazing Year Workbook and Calendar (Life + Business Editions).  These workbooks and calendars are beautiful (you could frame each page!), colorful, inspirational, and each page/exercise helps you to dive deep in a peaceful, respectful way.  The section for reviewing your 2013 year is not only fulfilling, it's fun too.

I print mine out and put them in a three-ring binder so that it's accessible - something that I can review each month to help me reach my goals.


http://tinyurl.com/mo8clch

If you are interested in learning more about these workbooks or in purchasing your own, click here.  The links shown here are my affiliate links.  I'm not just an affiliate, though.  I am a firm believer in the value of these workbooks and the content that Leonie offers.  I am a member of her Amazing Biz ; Life Academy and through this group, have met a wonderful community of like-minded business women.

I'm interested in hearing how your 2013 went.  What were your wins?  Overall, how do you feel about the past year?  What lessons did you learn?

Wednesday, January 1, 2014

Happy New Year From Hudson Valley Etsy!


Thank you all for your support and a great 2013!  It has been a great year of growth for our group and our name is really gaining attention in the Hudson Valley. We look forward to 2014 and working with and collaborating with many more groups in sharing our message of supporting local and handmade business.

Continuing our tradition on the blog, here are some of our wishes for the upcoming year.

2014 looks like the year I invest in some new equipment like a new camera and possibly computer. I hope to get my jewelry in a couple more stores in the Hudson Valley. I also think I need to finally stop being stubborn and find an Accountant.! :)  Marilyn - Pulp Sushi

I hope to concentrate less on jewelry and more on fiber. I'm planning to limit production of commercial yarn garments to the best selling styles only for the lower price points of my line. As for handspun, less dyeing and more use of natural wool colors in garments and bags, to appeal to the "green" customer. Promote more aggessively and consistantly. Be more selective about choosing shows and markets in the on going quest to find the right mix. Patti - Stone and Fiber

One of my business goals is to launch a new line that brings together my love for making jewelry and my love for magic and spiritual growth. I'm committed to launching this line properly with the appropriate level of marketing research, product testing, and a real website. Lisa - Merry Alchemy

I don't really do the resolution thing...but I am expanding my line to natural deodorants and toothpaste! And hoping to grow some of my household items as well. Gwen Beyond The Picket Fence

In 2014 my big goal is to redo my website. I want to get back into blogging as well as build out the shop element so people can shop directly from me. Ryan - WickedMint

I would like to create a website, start working with all-weather, non wool fibers, and work on some designs for men. I'd also like to pare down my line and redesign my booth set-up for shows so that it's more streamlined and easier to set up by myself. Kathryn - Huzzah! Handmade