Tuesday, March 24, 2015

Etsy - Setting Achievable Goals

One thing I do every month, is set a goal on Etsy. Goals can be anything- from number of views, to favorites, to number of sales, to amount of money earned, to how many new items you add to your shop.

But the biggest thing about setting a goal, is that it should be obtainable. Enough to push yourself, but not so much that you wind up frustrated and upset over it, and not coming anywhere close to it.

When you decide to set a goal, it gives you something to work towards, and gives you a spot where you can say "Yes, it's time to celebrate!"

Here are some helpful things to consider when setting your goals.
  • Where do you want your shop to be in a month? Do you want more sales? Are you actively trying to list more items to your shop? Consider what aspect of your shop is most important.
  • Look at the last 3 months in your shop (if it's old enough! If not, look at how long it has been open), and check each month individually. This can be done through STATS, then selecting SPECIFIC DATES, and choosing the start and end date that you want to look at.
    • Look at number of sales for each of December, January, and February (or the 3 most recent completed months!)
    • Look at the number of views for each of the three months.
    • Look at the number of Favorites (both shop and items) for those three months
    • Look at your revenue over those last three months.
  • Add all 3 of the months together under each category- Views, Sales, Favorites, Revenue. This will give you a 3 month average for each category.
  • Once you know how well you have done for the past 3 months, stop and pat yourself on the back. Running an Etsy shop is hard, and whether you had 1 sale for the whole time, or 200, you have done a great job at getting your business up and running. Take time to appreciate how far you have come.
  • Look at the category averages, and consider how you want to set your goal. Is your 3 month average less than what you actually had in all 4 categories for the last month? If so, you may want to look at just that single month to determine your goal. If it's more than last month, then you may want to consider the actual average as your goal for this upcoming month. 
Remember, above all else, make your goals achievable. Don't set them so far out of reach that you are going to be upset, angry, and ready to quit if you aren't getting near it. If your income for last month was $230, and you set this month at $850, you are going to wind up disappointed.

Growing a business takes time. It doesn't happen over night, and it doesn't happen by itself. Just like raising a child doesn't happen over night, or by itself. You have to work at it. You wouldn't expect your newborn to walk, talk, and use the toilet, would you? So don't expect your shop to out perform what it has shown it can do.

Goals should be just barely out of reach. If you made $400 this month, setting a goal of $450 is obtainable with some work. And if you surpass it, even better! But it's best to have a goal you are confidant in.

I will warn you- there will be months where you may not reach the goal. You might come close, but not quite, or you may have a weird month, and just nothing at all is moving. It happens to everyone- you are not alone!

Some months are worse. January is a bad month- the holiday's are over, so not only are people done buying gifts, but the reality of what they spent for Christmas has set in, and they are trying to save money. For the first few months of the year, it's a good idea to lower your goals from where they might have been in October, November, and December. Your shop will have a natural drop off in January and February, but it will slowly pick up speed again.

Keep track of your goals, and the end of month results. Start a file on your computer, or get a wall calender to write them down in. It's neat to watch as your goals grow.

Oh- one last thing. If a monthly goal feels too long, and you want to see better results, doing weekly goals also works. Just make sure you consider the last 6-12 weeks first, and keep in mind that with a weekly goal, you are more likely to experience a week where you fail to meet the goal. But it happens!

As long as you are trying your hardest to make sure shop succeed, then you are doing your job.

Need more Etsy help? Check out my helpful articles:

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