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Melbourne Alternative Crafters Message Board › Make Craft your Business seminar (PART 2)

Make Craft your Business seminar (PART 2)

A former member
Post #: 3
...continued from PART 1

Change can be good
• Deanne has currently undergone a rebranding
• She lost her craft ‘mojo’ and felt her previous brand ‘BabyGalah’ had pigeonholded her into a certain market
• Now changing track (to VintageGalah)
• New business card (re-using the old ones – sewing fabric over one side & new stamp on other side)

• Deanne spends relatively little on advertising
• Social Media powerful
• Blogs – some blogs now offer sponsorship spots (usually a link on the right of the page) to help drive traffic to your site/page

When to pay yourself?
• Have a separate business account the money goes into
• Totally depends on your goals, your personal circumstances & your household arrangement etc
• It may be that you want a little extra pocket money, you want to save for travelling or you want to give up work totally!
• Any money paid out for the business, should generally be paid back first
• Think about Basic, Super, Tax
• You’ve got to work for a reward at the end of the day!

Record keeping
• Be clear about the money coming in – what’s going out of the business
• Record keeping is your friend! (Maybe ask a friend who’s good with money for some basic advice)
• Keep a notebook or spreadsheet
• Tax free threshold – certain allowance for ‘hobby’ (Do some research!)
• Create stock list
• Write down what you’ve sold
• Good indication of what’s selling well - & whether you shoud make more of one or less of the other
• Accountants getting better with dealing with ‘us’ as more and more people choose to work at home#

Lastly, don’t get bogged down! Enjoy, and remember to VALUE your time & skill!

For more advice, Etsy has lots of community pages & videos to help & inspire you!­


A former member
Post #: 11
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