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I hate to break this to you, but you will not get very far with your Etsy shop if you do not have business goals. You cannot continue to fly by the seat of your pants and go whichever direction the wind decides to blow that day.
What do I mean by a business goal? I mean you need to know where your business stands, where you want it to go, and how you’re going to get it there.
Not just any goals, SMART goals.
Stay with me here… I’m a special education teacher by day – I’ve been through it all, seen everything, and created a goal for it. A goal that meets top criteria and now – I want to teach you how to do the same thing, but with your business.
What is a SMART goal?
S – Specific
M – Measurable
A – Attainable
R – Relevant
T – Timely
In order to be a truly efficient and helpful business goal, it needs to check all these boxes. Let’s dive into what these mean.
Is your goal specific, detailed, and exact? Does it answer the who, what, where, why, and when? Don’t just say you want to make sales; tell me how many and when you want to make those sales!
Can you track your progress and know exactly when your goal is met? Is your sales number, engagement, etc. able to be followed and analyzed? These are essential if you want your goals to mean anything!
Are your goals reasonable and realistic? Make sure they’re not completely out of reach or way too easy.
Is your goal worth while? Is it something you want to focus on right now, or is it something that can be placed to the side for now? Choose your main focus and grow in that area first.
Do you have an understanding of the time frame you wish to accomplish your business plan goals? For example, by next year, the end of the month, or even 5 years.
SMART business goal examples:
“By this time next year, I will increase my profit margin by 10% by running ad campaigns and increasing inventory”.
“During the month of November, I will create a free course for Etsy sellers by using Teachable in order to increase my email list by 100 people.”
My goals are easily measured, have a clear action plan, and the time I need to accomplish it by.
OK, you’ve developed your goals… Now what?
You need a strategy to accomplishing your business goals! Are you going to start paying for promoted listings, posting to social media, or create a FaceBook ad campaign? In order to grow, you can’t keep doing the same thing because you will end up getting the same results.
You have to think outside the box. Come up with a new product line, start a blog, try different ad campaigns on different websites. The possibilities are endless.
Develop a strategy for accomplishing your goals and watch your numbers rise.
I hope this has made you think about setting goals for your Etsy shop. Let me know in the comments what your goals are for this upcoming year!
In order to continue on a pathway of growth, we need to have a plan in action. What do you want out of your business?
I hope you accomplish all of your goals, find success in your future, and happiness in your passion.
Check out our passion at Crafts By Gunns Etsy Shop.
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