Last year, I shared the three best things I did for my business in 2011. But this year, I can’t say that I’ve got three best things I did. Because this year was the first year where it felt like my business worked for me and not the other way around.
In my fifth full year of running my business, I finally feel like momentum is on my side and that the rewards of running my business outweighed the effort. It’s not that I didn’t work this year, but I felt like the business supported my life, instead of the other way around. While I wasn’t always able to work on the business, the business was working for me.
I should also emphasize that, while I’m choosing to frame this post as “what my business did for me,” the reality is that I am the business. So this is really about what I did for me in 2012, all of which was supported by the effort and systems I previously put into place while growing the business. These things didn’t happen by luck or accident. The business worked for me because I worked for it.
But it has been pretty incredible to see just what my business is capable of, and while next year at this time I hope to be sharing three things I did for my business, it’s nice that when I needed my business to support me, it was there.
1. It let me take time off.
2011 was all about putting systems (and an employee) in place so that when I wanted, and needed, to take time off, I was able to. And 2012 was proof of just how possible taking time off really is. And what’s more amazing is that I was able to take time off without a loss in revenue. In fact, my sales 2012 sales were the highest they’ve ever been. 2012 really proved to me that I’ve been building the business in a sustainable way that lets me take time off when I need to and still grow.
2. It let me travel.
I did a lot of traveling in 2012, and it was all supported by the business. Many of the trips were paid for by the business, from my inspiring sojourn to London and Paris to conferences in Salt Lake City and Portland, while a few others, like the SNAG conference and the Artful Business Conference in Australia, were paid for by others because I was a speaker. Traveling is really important to me, both to get my culture fix and to connect with like-minded people, and the business allowed me to do so much of it in 2012.
3. It let me explore other materials and processes.
Hiring my employee in 2011 freed me to work on designing some really exciting new jewelry. But in 2012, I was able to take that studio time even further. I made bowls. (For all you metalsmiths out there, the technical term is raising.) And I returned to painting after a decade away. (And I did also design some new jewelry that I’m really proud of.) Not everything I made in 2012 became things that I’m selling. (So far, very little has.) But having the chance to explore and push my creative process, besides helping me cope with a very tough year, has been one of the most tangible examples of just how much my business worked for me in 2012.
And there’s one last thing my business did for me in 2012:
It inspired me to transform the way you run your business.
If I could describe what my business gave me in 2012 in one word, it would be freedom. It gave me space. It gave me time. It gave me profit. And that all adds up to freedom. And that is what I want for you. Over the last month or so, I’ve been working on a new program designed to help you grow your business in a way that gives you maximum freedom. I’m still working on the details, but when I launch the program a little later in January, you’ll be the first to know. I’m excited to help you make your business work for you, and not the other way around.
In the meantime, I’d love to know:
What was the best thing your business did for you in 2012?
Marianela Borsten
I am not yet at the “freedom” level but I can say that this last year my business gave me confidence and assurance that I can make a living from it. This year resolution is to make a decent profit by hiring help in my studio and hopefully aiming for that well defined freedom you mentioned. I am looking forward to check on your new program Megan. Thanks again for sharing your inspiring words with us!
megan
Congrats Marianela! Confidence is an important word for me, so it’s great to hear you got that from your business this year.
Sondra Sherman
Hello, I have been wondering how much of your business has become more these teaching business workshops, lectures etc rather than the jewelry? It seems like this type of motivational speaking/writing/work shopping has become a significant profit generating
aspect of what you do. Can you estimate the percentages of each? Thanks.
megan
Sondra –
That’s a great question! In 2011, my revenue was split about 50/50 between jewelry sales and teaching/consulting through DMBA. But in 2012, about 65% of my revenue came from jewelry sales and only about 35% from teaching/speaking/consulting. This year was a major milestone because I hit six figures in jewelry sales for the first time. So while the other stuff definitely plays a factor, the jewelry business was the revenue stream that actually grew in 2012.
Woolies
The best things I did for my business in 2011 was advertise! Throughout the course of the year, I advertised on several different (and very targeted!) blogs/ websites. It paid off. I had 80 orders in my little shop during the holiday season, double the amount from last year. Totally paid off!
Tracey
Sounds like what you are working on is just what I need! My business grew a lot in 2012, but unfortunately I found myself busier and more tied down than ever. In 2013 one of my goals is to start structuring the business in a way that works for me and my family.
Wendy
In 2012, I learned that my dream is possible. This was my first year of getting serious about my jewelry business. I was scared to death that no one would want what I have to offer at a price that makes sense for my business. Today, my work is wholesaled through more than a dozen galleries across the country, and I plan to add many more through my showing at Buyers Market next month. I’m not profitable yet, but now I know what I need to do to get there.
Thanks, Megan, for helping me have a great 2012! I’m crazy-excited for what 2013 will bring!
Denise Rogers
Hello Megan,
Thank you for sharing with the world. I appreciate your words of inspiration and I need to remember it doesn’t happen overnight. Like Wendy, this is my first year of getting serious about my jewelry business. I look forward to hearing about your new program. Wholesale and profit is where I want to be in 2013. Thanks again!
Denise
continued….best thing of 2012 my jewelry is being sold in two local boutiques.
Julie
You are such an inspiration!
This year I worked hard! I convinced my husband to quit his low pay job and join my business. He is a artist (painter) so he patinaed my best selling earrings. This holiday season we doubled our annual income all from 2 of the best selling earrings. If I didn’t have production help this would have not been possible.
Happy 2013!
Natalie / Half Asleep Studio
Congratulations on 5 years!
The best thing my business did for me in 2012 was allowing me to take control of my own work schedule and do meaningful work. I spent several months working a full-time desk job while trying to build up my business on the side (40 hours of extra work a week at least) and of course I hit rock bottom out of exhaustion from basically working 24/7 and decided to quit my day job and focus 100% on my business. Best thing I ever did.
Cindy
The best thing mybusiness did for me in 2012 was that it freed me from the responsibility of running our household and fulfilled our dream of living a subsistance lifestyle on an island in Alaska. Now that I am making enough money that my husband can “work” at home building, maintaining, fishing, hunting, growing and preserving (while keeping up with laundry, dishes, and 3 kids), our family is healthier, happier and more independent.
Denise
2013 will see me able to, finally, restart my business, after losing my home & most of my belongings in January 2011 Brisbane flood.
I also appreciate your inspiration & great tips from everyone.
Happy 2013
Genna
You are so terrifically inspiring, Megan. Congratulations on another great year! This year, I’ve branched out into teaching classes to both middle school girls and adults from within my day job community, while maintaining my few wholesale accounts, local shows and private parties. Deluxe Delovely paid for me to take an inspirational trip to Costa Rica this summer, my first metal smithing class, and will be paying for a trip to Tuscon in February to the Gem Fair. I’ve been recently inspired to apply to an artist residency to get back to Paris — one of my favorite cities — and I dream of hiring an employee within the next few years.
I love hearing you story. Thank you for sharing it!