What Etsy Business Should I Start?
Oct 19, 2024What Etsy Business Should I Start? 10 Key Criteria to Help You Decide
Starting a business on Etsy is an exciting journey, one that can lead to creative fulfillment and financial freedom. As the owner of *Shiny Little Blessings*, a jewelry design and supply shop that ranks in the top 1% of all Etsy shops worldwide, I know the highs and challenges that come with building a successful Etsy store. After over 15 years of experience, I’ve learned what works and what doesn’t. So, if you’re asking yourself, “What Etsy business should I start?” here are 10 key criteria to help you determine the best fit for you.
- Follow Your Passion
You’ll spend a lot of time working on your business, so it’s crucial to choose something you love. For me, it was jewelry—creating pieces and helping others bring their designs to life through supplies was a passion that never felt like “work.” Ask yourself, what could you do every day that would make you excited to get out of bed?
- Assess Your Skills
What are you already good at? Whether it’s crafting, graphic design, or sewing, start with your strengths. I already had experience making jewelry and enjoyed creating something with my hands, which helped me excel from day one. Evaluate your skills and see how they can translate into an Etsy business.
- Consider Market Demand
Passion alone won’t keep a business afloat. Research current trends on Etsy to see what’s in demand. When I started *Shiny Little Blessings*, I noticed a growing market for high-quality jewelry supplies, so I seized the opportunity. Make sure there’s a demand for what you plan to offer.
- Solve a Problem or Fulfill a Need
Successful businesses often solve a problem. Ask yourself, “What problem can I solve for my target customer?” With my shop, I found that providing top-quality materials for jewelry makers filled a gap for others who wanted reliable supplies. Think about how you can serve your audience’s needs.
- Start Small
You don’t need to launch with hundreds of products. Focus on a niche and perfect a few offerings before expanding. In my early days, I began with a small selection of supplies that I knew well, and slowly expanded as I grew confident in my niche. It’s easier to manage and helps prevent overwhelm.
- Evaluate Your Budget
Consider how much you can realistically invest upfront. Some Etsy businesses, like digital products or print-on-demand, require minimal startup costs, while others, like handmade crafts, may require more materials. In my case, I had to carefully plan how much I would spend on supplies to ensure I wasn’t overextending myself financially.
- Look at the Competition
It’s always smart to evaluate the competition. What’s working for other successful shops in your niche, and what could you do differently to stand out? When I started, I saw there were plenty of jewelry supply shops, but not many offering the quality and personalized customer service that I could provide. Find a unique angle to differentiate yourself.
- Prioritize Customer Experience
Etsy is a customer-centric platform, and your reviews will make or break you. Choose a business where you know you can deliver exceptional customer service. I owe much of my success to being responsive, offering personalized service, and ensuring fast shipping. Your shop should reflect your dedication to your customers.
- Think About Scalability
Consider whether your business can grow as demand increases. Will you be able to manage more orders or offer more products? Over time, I’ve been able to grow *Shiny Little Blessings* by hiring help and automating parts of my business, like shipping and inventory management. Think ahead about how scalable your idea is.
- Stay True to Your Values
Finally, choose a business that aligns with your values. For me, I’ve always believed in empowering others to create and succeed, which is why I focus on offering supplies that enable other creatives to bring their designs to life. What values do you hold dear, and how can your Etsy shop reflect those?
Conclusion
Starting an Etsy business is an exciting way to turn your passions into profits, but it’s essential to choose the right niche. By following these 10 criteria and taking into account your passion, skills, and the market demand, you can find the perfect fit for you. Remember, I started *Shiny Little Blessings* with just a small idea and a lot of love for jewelry, and today it’s thriving in the top 1% of Etsy shops. You can create your own success story too!
Good luck with your Etsy journey, and never forget: the best business for you is the one that makes you excited and aligned with your goals and values.
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