Tuesday, May 11, 2010

Pipe dreams can only take you so far!

I certainly don't kid myself into believing I can quit my day job anytime soon and make a living at crafting. I am SO VERY FAR from that! And honestly, had I not gotten laid off a year and a half ago, I probably would've continued to craft purely for the joy of it. 

But I did get laid off. The housing bubble blew and it sent me flying! I was laid off from my job in escrow only to be sent to the back of a very long unemployment line! The checks were barely enough to pay for the basics, but that didn't cover the mortgage. And since everyone else in my industry was in the same boat, my competition for a new job was fierce!

I was having a garage sale that October when a neighbor came in and noticed my craft corner. She mentioned that she was putting together a small craft fair and was looking for more vendors. So I spent the next month crafting until the wee hours of the morning. I would search for jobs, post resumes, go on interviews during the day. And at night, I would be up past 2am, hunched over the craft table, trying to create something marketable.

I made about $60 bucks at that show. Certainly not even enough to cover the cost of my materials, let alone the time I put into it. But I still found it to be very satisfying. I was hooked and ready to do more. So I found another local show the next month. This time, they required a business license. That's where it got sticky.

I now had this hobby that I could make a few bucks off of, but not turn a profit. Yet, in order to make those few bucks, I needed to become an entity. So I applied for the business license. Which also meant I needed to file sales tax and business tax. And so the monster grew.

Now I have this "hobby" that I have to claim as a business. And absolutely no clue how to run a successful business. Talk about jumping without a parachute! Oops! Now I find myself reading articles and blogs and watching news shows about how to market or run a business. I'm trying to learn as I go so that this doesn't fail. Mainly, it's for my future, when I wanted to be a small business owner. It would be nice to have been able to turn this nothing into something.

So here's the latest article I've read, posted today on Etsy, written by Amanda of DailyWorth. It's chock full of useful business information for the small crafty entrepreneur. Maybe it'll give you some nuggets of knowledge to help you in your venture. :)

7 comments:

  1. You have a lovely blog!
    Thanks for sharing the business information...off to read.

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  2. I totally understand what you mean! I got laid off more than a year ago. None of my ex co-workers have found a job... I hope you'll do well with your new business!

    I'm doing a give away this week. Stop by!
    http://cupcakebombblog.blogspot.com/

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  3. Oh, I love that post...beautiful blog! Way to start making lemonade out of lemons!

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  4. nice to have discovered you today.

    i understand how you feel as well about not knowing how to run a business! i'll have to check that link out.

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  5. thank you so much! It's definitely a lot of work and I can understand why so many businesses fail within the first 2 years of opening!

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  6. Wow, that's quite a lot that you've been through. How wonderful that you've found something that you love in crafting, and that you can make some money off of it too.

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