As I write this, it’s mid-December and things are rockin’ and rollin’ as we get ready for Christmas with family, some charitable work we’re doing, and, well, you know….all-the-things. So, I’m going to try to keep this post short and just give you the down and dirty details of my own crochet business success story
Why I Diversify
I recently got some constructive criticism saying something to the effect of, “I read your income report. I want to know how to make six-figures selling my crochet products. You make money from ads, digital products, workshops, and all that other stuff. I feel betrayed by the ‘promise’ of a full-time income….I don’t want to do all that stuff. I just want to sell my crochet items and make over $100,000. You shouldn’t deceive people like that.”
Well, the honest truth is, if your goal is to make $100,000 from a solely, physical product-based crochet business, too, then I’m not your guy.
In order to make over $100,000 with a solely product-based crochet business, you’re either going to have to get into the high-end side of fashion designing or you’ll have to scale using contract crocheters and low-cost factory workers. Neither of those avenues are my forte.
In contrast, I espouse the diversification model. By building a business that is ‘wide’ (having a variety of income sources), you build on a foundation that can sustain the fluctuations in our seasonal market, create passive income, and reach many more people…and not simply trade your hours for dollars.
By diversifying, you open yourself up to more freedom as a business owner, more profits, and more income.
If you’re on board with that, that’s press on.
Why I Share Income Reports
Just a quick blurb about why a private, introverted business coach such as myself would want to share all these details about the backend of her business. Well, there are two reasons:
Inspiration: When I first started, I was inspired to build my business when I saw that others were able to do the same. I read income reports from bloggers and other crochet business owners and thought, “I can do that!” If I can help someone feel the same, it makes all this vulnerability worth it.
Accountability: When you’re looking for a coach to follow, it’s important to understand that she has been able to do what you’re wanting to do…build a crochet business to meet your financial needs. And you can’t know whether or not she has actually done that from her follower count, her friendships, or her Etsy sales numbers. None of these things equal profits if you don’t know the whole story.
You can only know whether she has actually done what you want to do by looking at the numbers…so, here I am being totally transparent.
The Danger of Income Reports
I can’t tell you how many burgeoning crochet business owners I hear from who have seen an income report and tried to reverse engineer someone else’s business…trying to do all-the-things, all-the-time, and all-at-once.
She’s scrambling to create an income for herself and making herself sick, discouraged, and burned out, in the process.
While I understand the temptation to try to do it “just like she does”, this is not the way to build YOUR business with YOUR people and YOUR own passion.
Take inspiration from this or any other income report, but know that growing a business into a full-time income takes time, strategy, and work…no income report can include all the nuances of how any individual made that happen.
If you want help growing your business, please join us in the Crochetpreneur Business Academy.
Income and Expenses Report for My Crochet Business
November Income
- Mediavine Ads: $1,714.62
- Affiliate Sales (Amazon, Siteground, Ultimate Bundles, etc): $146.44
- Pattern Sales (on Etsy, Ravelry, and my Shopify Sites): $3,839.98
- Other Digital Product Sales (Printables): $257.98
- Pattern Bundle Sales (30 Days of Cozy): $216.00
- Courses: $7,045.00
- Craft Fairs (2): $4,075.00
EARNINGS TOTAL:
$17,295.02
November Expenses
The things included in my monthly expenses include marketplace fees, credit card transaction fees, affiliate payments, software and app fees, tech support, supplies, and contract employee payments.
EXPENSES TOTAL:
$2,369.23
Net Profit:
$17,295.02 – $2,369.23 = $14,925.79
Charitable Donations:
Together, for November, we (you and I as a result of these profits) gave $1,500.00 to charitable organizations whose goal is to rescue the hearts and lives of hurting people particularly the homeless, children in foster care, and those being exploited through human trafficking.
Cumulative donations in 2019: $4,700.00
Crochetpreneur Traffic Report
November Traffic
So, here are the numbers:
Crochetpreneur.com
- Monthly Visitors: 22,539
- Unique Visitors: 17,647
- Page Views: 32,833
Madewithatwist.com
- Monthly Visitors: 38,876
- Unique Visitors: 29,621
- Page Views: 64,326
Debrief
What Happened in the Business
- Craft fair season came and went and while I didn’t hit my giant goals, I did hit my “I’ll be happy!” goals. I’m still debating on how much I’ll participate in craft fairs next year.
- I had a quick flash sale of the Crochetpreneur Business Academy during Black Friday and that went well.
- My Bobble Christmas Tree went kind of crazy and brought in a great amount of both traffic and sales.
What Happened in Our Lives
- As always, I got sick right off the bat in November. I lost my voice for about three weeks and that made it difficult to maintain my scheduled lives on FB and Instagram.
- Dealing with other health issues and generally just trying to stay healthy for the holidays.
- Other than that, things have quieted down and we’re getting into a rhythm in our daily lives. It’s all good!
Write Your Own Crochet Business Success Story
Join the Crochetpreneur Business Academy
If you’re one of those go-getter crocheters who knows that you want to be more than a hobby seller, I’d love to invite you to join us in the Crochetpreneur Business Academy. While the class isn’t enrolling right now (Or is it? We’re planning something special for Black Friday!), doors open toward the end of summer. You can be sure to get in on the action by signing up for the waitlist.
Start a Blog
Are you ready to grow your income with a maker blog of your own? Check out my START A PROFITABLE BLOG guide and get yours up and running today!
Blogging Resources
Find all my favorite blogging tools on my Resources page.
If you want to learn more about why starting a blog is a great choice for makers, how they can use it to build a variety of income streams, how to start gathering emails and driving traffic to the blog, check out my introductory mini-course, Blogging for Makers 101.
Already have a blog, but looking to increase your income, check out these free resource from Elite Blog Academy,
- 7 Surefire Ways to Boost Your Blog Income Overnight.
- The New Blogger’s Guide to Guest Posting
- The Secret Blueprint for Blogging Success
- The Beginner’s Guide to Branding Your Blog
Other Resources for Crochet Business Growers
That’s OK! There are plenty of other ways to make money with your crochet skills. Here are some articles you might enjoy:
The Ultimate List of 20+ Ways to Make Money Crocheting
An Impulsive’s Guide to Starting a Crochet Business Right Now!
Other ideas? Take my free ROCK YOUR CRAFT FAIR Training Series or, for aspiring designers, sign up for the GET IT DONE Concept-to-Launch Crochet Pattern Writing Email Challenge!
I can’t wait to help you build and grow your business into the business of your dreams!
