Part of creating a culture of profit means letting go of some of the myths we’ve been carrying around about our businesses and when and how they should make money. Today I want to look at 5 profit theories I often hear, and why they aren’t (usually) true. Myth #1: You shouldn’t take any money [...]
For the record, I think there is nothing wrong with wanting to build a profitable business to create a comfortable living for yourself and your family. (Provided that you are doing this in an ethically and socially responsible manner.) But I also know that is is an area of thinking where many of us struggle. [...]
A while back, I ran a survey for CMBA readers about which business topics they were most interested in learning about, and marketing was at the top. That’s not really surprising. It’s easy to view marketing as the magic bullet to running a successful business. But I don’t think lack of marketing prowess is what’s keeping most craft businesses [...]
A few weeks ago, I sat down for an impromptu review of my business numbers. I calculated monthly income based on revenue stream, monthly expenses, and net profit. Then I set monthly sales goals for each revenue stream, and created a plan of attack to make those numbers a reality. After I was done, I [...]
Well, I’ve officially given up the battle with Quickbooks. Partly because it makes my head spin, and partly because I’ve found something better. A few wonderful readers had suggested outright.com, and after giving it a go, I have to say I’m in love. If you’re running a small business, particularly one that relies heavily on [...]
One of the amazing things about our community is the DIY spirit. An entire generation of makers are finding that they can jump online, sell their work, and promote their products. And it’s opened up a lot of doors. But that same DIY spirit may now be impeding the growth of your business. If you’re [...]
With spring in full force, it’s really time to think about spring cleaning my office! And the number one priority needs to be going through boxes of product, inventorying them, and making sure they’re available for sale in the shop. (They certainly aren’t making me money just sitting in my office!) So I thought I’d [...]
I’m putting the finishes touches on my first ebook, a guide to wholesale and trade shows, so today I thought I’d share another excerpt. While I am adamantly against artificially low prices, there may still be cases where you need to consider lowering your prices to be competitive (or find ways to maximize your profits [...]
Pricing may be one of the biggest challenges facing makers today. Not only is the act of determining price difficult in and of itself, makers must also deal with market pressures outside our control that effect price. I mentioned in a previous post that Etsy recently posted a link to one of my cozy/cuffs on [...]
Last week, I hit 300 sales in my Etsy shop(!), but it got me wondering, “am I focusing too much on number of sales?” If you’re an Etsy seller, chances are there’s one number you notice again and again, and that’s the number of sales a shop has. Whether its your shop or someone else’s, [...]
Megan Auman is a designer, maker, educator, and entrepreneur who has built a multi-faceted business around her passion for great design and sustainable business. Her eponymous jewelry line is sold in stores across the US and online. In 2009, Megan founded Crafting an MBA to help designers and makers develop their business skills. In 2011, the site name was changed to Designing an MBA.
Learn more about Designing an MBA.
