Until recently crafts were usually sold locally or, at best, regionally. Now you literally have whole world at your fingertips! Some of you may choose a gradual progression from selling to friends, to selling at fairs and shows, to retail selling … and so on. Others may decide to jump directly from selling within their circle of friends to worldwide Internet market – costs are low enough that this is surprisingly doable.

My first career was as a special education teacher. After 15 years of teaching I earned an MBA degree followed by CFA (Certified Financial Analyst) certification. After 15 years in finance I was a vice-president and portfolio manager of a major insurance company before I was downsized. Tired of rat race, I opted for early retirement. Looking for something to do with all my free time, I started crafting and am now making a nice supplemental income from it.

As a crafter and a businesswoman, I feel I have some valuable insights into craft business that I can share with you.

Getting Organized to Sell Your Crafts for Profit

At some point in your progression from crafting for fun to crafting for fun and profit, you go from handcrafting individual items for yourself and friends to filling quantity orders for a broader marketplace. That’s time to take a very business-like approach to your craft business. This needn’t be daunting. You don’t need an MBA or management experience – just a bit of common sense. If you’re going to do this for profit, you need to under- stand The Four M’s:

1. Meet your market; 2. Minimize your costs; 3. Maximize your selling price; and 4. Market heck out of your product.

Simple, right? But very few people get it. Look at high failure rate for new businesses. It takes effort to be successful, but task is hardly impossible.

Traditional craft retailing methods are what most crafters use to get started. They're easiest way, especially if you don't know if anyone will buy what you make.

FACT: Most people don’t want to leave their jobs simply because they don’t feel confident enough to be in business by themselves. They fear that they don’t have tools to succeed on their own. And truth is…they probably don’t. Whether they have a business degree or not, most people don’t have know-how to create true wealth in their lives. And, that is precisely why people stay in their jobs and make their boss rich.

FACT: Most home businesses don’t give you support you need to be successful. Too many people are in it for themselves or don’t have time to help you succeed because they are still slaving away trying to make their own venture succeed.

I have been in both places. Franchises, Brick & Mortars, all-promising MLM—you name it—I have been completely alone without any guidance or support AND I have had heard all empty promises there are. I can tell you…it is one of most frustrating and discouraging places to be out there.

I remember a few times a buddy of mine tried teaching me some steps he took along way. But, he was only making $30,000 a year! In hindsight, why would I listen to a guy, friend or not, who was making below average America income?