I MADE $2700 Per Week With BASIC Text Design on Etsy (2024)

Jason Lee
14 Jan 202413:58

TLDRThe video script discusses the feasibility of generating a $5,000 monthly income through Etsy by selling common items like t-shirts, mugs, and books, despite market saturation. The speaker shares their personal experience of setting up a new Etsy store, choosing a product, and applying a minimalist design approach. They emphasize the importance of product selection, design, and market timing, and provide a detailed breakdown of the costs and potential profits. The script also offers tips on leveraging Etsy ads and organic traffic through Pinterest, as well as the benefits of offering personalized products through automation tools like Hello Custom. The speaker encourages immediate action, despite fears or uncertainties, to achieve success in online business ventures.

Takeaways

  • ๐ŸŽฏ Starting an Etsy store in a saturated market is achievable with the right approach and mindset.
  • ๐Ÿš€ A new store can still succeed by focusing on simple designs and fully automated processes.
  • ๐Ÿ’ก It's essential to choose a product that has proven demand and focus on creating designs that resonate with a specific audience.
  • ๐Ÿ“ˆ Selling on Etsy is about selling designs rather than the product itself, using the product as a medium for the design.
  • ๐Ÿ•’ Timing matters; launching a store or product around periods when demand is higher, like holidays, can be beneficial.
  • ๐Ÿ’ธ A good profit margin can be maintained even with a discounted selling price due to the low cost of print-on-demand products.
  • ๐Ÿ› ๏ธ Tools like KANVA and Printify are crucial for designing, automating, and optimizing product listings on Etsy.
  • ๐ŸŽ Offering personalization can differentiate products and boost sales, with apps like Hello Custom automating the process.
  • ๐Ÿ“Š Etsy Ads can be an effective way to drive traffic, but the success depends on the quality of the offer and the competitiveness of the market.
  • ๐ŸŒŸ Don't wait for the perfect conditions to start; taking action despite fear and imperfections can lead to success.

Q & A

  • How much revenue is the speaker's Etsy store currently making per week?

    -The speaker's Etsy store is currently making around $2,500 to $3,000 per week.

  • What were the rules set by the speaker for starting the Etsy store?

    -The rules were: 1) Spend $0 to start the business, 2) The store has to be fully automated meaning no manual fulfillment or shipping, and 3) Use simple design with only plain text.

  • What product did the speaker choose to sell on Etsy and why?

    -The speaker chose to sell a journal because it is a proven product on Printify's best sellers list and the timing was right for sales as it was mid-November.

  • How does the speaker determine if a product can be profitable on Etsy?

    -The speaker calculates the profit margin by considering the selling price, cost, shipping fees, Etsy listing fee, and transaction fee. They aim for at least a 30% margin.

  • What is the speaker's strategy for finding a niche product on Etsy?

    -The speaker suggests taking a proven product and creating designs that cater to a specific audience, rather than copying existing listings. They recommend finding a niche or offering personalization.

  • How does the speaker design their product listings?

    -The speaker uses a tool called KD, which offers templates and a built-in mockup generator. They choose a simple design, adjust the text and background, and create a mockup for the listing image.

  • What are the two main ways the speaker suggests to drive traffic to an Etsy store?

    -The speaker recommends using Pinterest for organic traffic and Etsy ads for paid traffic. They suggest starting with a small daily budget and increasing it if the return is good.

  • What is the speaker's advice for new Etsy sellers regarding personalization?

    -The speaker advises offering personalization as it can boost sales. They mention an app called Hello Custom that can automate the personalization process for sellers.

  • What is the speaker's perspective on starting a business and the concept of the perfect timing?

    -The speaker encourages taking action despite fears and imperfect conditions, citing that there is no perfect time to start a business. They reference Reed Hoffman and a biblical verse to emphasize the importance of starting sooner rather than later.

  • How does the speaker plan to demonstrate their research and design process in the video?

    -The speaker intends to show how they found their product, designed it, set up automations, and provide a pro tip to boost the Etsy store's success.

  • What is the speaker's opinion on saturation in the market?

    -The speaker views market saturation as proof of demand. They believe that saturation indicates a product's popularity and potential for sales, rather than a barrier to entry.

Outlines

00:00

๐Ÿ’ฐ Making $5,000/Month on Etsy with Basic Products

The paragraph discusses the challenge of making a significant income through Etsy by selling basic products like t-shirts, mugs, and books, which are often deemed impossible due to high competition. The speaker shares their skepticism about the market being saturated and decides to test the theory by opening a new Etsy store. They set strict rules for the challenge: no initial investment, full automation of order fulfillment, and a simple design with plain text. Despite these limitations, the speaker's store begins to gain traction, eventually reaching $2,500 to $3,000 in weekly revenue. The speaker emphasizes the importance of product research, design, and automation in achieving success on Etsy.

05:01

๐Ÿ“ˆ Profit Margins and Product Selection Strategies

This paragraph delves into the financial aspects of running a successful Etsy store. The speaker explains how they aim for a 30% profit margin on demand products and uses a journal as an example to illustrate the calculations. They discuss the cost-saving benefits of a Printify premium account and the importance of creating designs that appeal to a specific audience. The speaker also advises against directly copying successful listings and encourages finding a unique niche. They provide a link for a free trial of the premium plan and discuss the potential of organic traffic from Pinterest and the use of Etsy ads for new sellers.

10:01

๐Ÿš€ Overcoming Fear and Launching Your Business

In the final paragraph, the speaker addresses the common fear and procrastination associated with starting a business. They share their personal experience of starting a YouTube channel without any prior experience and encourage viewers to take action despite imperfect conditions. The speaker highlights the importance of offering personalized products to stand out on Etsy and mentions an app that can automate the personalization process. They conclude with a motivational message to feel the fear and take action, emphasizing the difference between success and regret lies in taking steps forward despite fear.

Mindmap

Keywords

๐Ÿ’กEtsy

Etsy is an e-commerce website focused on handmade or vintage items and craft supplies. In the context of the video, it serves as the primary marketplace where the speaker aims to sell products and prove the viability of starting a new store despite the saturation and competition.

๐Ÿ’กSaturation

Saturation in a market refers to the presence of a large number of competitors or products, making it difficult for new entrants to establish a foothold. The video addresses skepticism about the possibility of selling common items like t-shirts and mugs on Etsy due to market saturation.

๐Ÿ’กDesign

In the context of the video, design refers to the visual and textual elements applied to products like t-shirts, mugs, and journals to appeal to a specific audience. A unique and emotionally resonant design can make a product stand out, even in a saturated market.

๐Ÿ’กAutomation

Automation refers to the process of setting up systems to perform tasks without the need for manual intervention. In the video, the speaker sets a rule that their Etsy store must be fully automated, meaning orders are fulfilled and shipped to customers without direct action from the seller.

๐Ÿ’กProfit Margin

Profit margin is a financial metric that represents the percentage of revenue that exceeds the cost of goods sold. It indicates how much money is left over after paying for the production or acquisition of goods or services.

๐Ÿ’กPrintify

Printify is a print-on-demand service that allows users to create and sell custom products online. It is used as a platform to source products and handle the printing and shipping process for the speaker's Etsy store.

๐Ÿ’กPersonalization

Personalization refers to the process of customizing products according to individual customer preferences or needs. In the video, the speaker suggests offering personalization as a way to differentiate products on Etsy and mentions an app called Hello Custom that automates this process.

๐Ÿ’กMarket Research

Market research is the process of gathering, analyzing, and interpreting information about a market, its size, dynamics, competitors, and consumers' needs and preferences. In the video, the speaker conducts market research to find a product that sells well on Etsy and to understand customer demand.

๐Ÿ’กContent Creation

Content creation involves the development of various forms of content used to engage audiences on digital platforms. In the video, content creation is essential for designing product listings and marketing the products on Etsy.

๐Ÿ’กEtsy Ads

Etsy Ads is a paid advertising service offered by Etsy that allows sellers to promote their products within the platform, increasing visibility and potentially boosting sales. The speaker discusses the use of Etsy Ads as a strategy for driving traffic to new seller stores.

๐Ÿ’กNiche Market

A niche market refers to a targeted, specialized segment of the market with specific needs that are not met by mainstream products or services. The speaker emphasizes the importance of finding a niche to serve and tailoring product designs to cater to that specific audience.

Highlights

The discussion revolves around the challenge of making $5,000 a month on Etsy, particularly with basic products like t-shirts, mugs, and books, which some deem impossible due to market saturation.

Despite skepticism, the speaker decided to challenge the notion that it's impossible to succeed in a saturated market by starting an Etsy store and testing their own theory.

The experiment followed three strict rules: no initial investment ($0), full automation of order fulfillment, and a simple design strategy utilizing only plain text.

The first product, a journal, was chosen based on its status as a bestseller on Printify and the timing of the holiday shopping season.

The speaker's store began with modest sales, but eventually grew to make $2,500 to $3,000 a week, demonstrating the potential of even basic products in a saturated market.

The importance of design is emphasized, with the speaker arguing that it's not the product itself being sold, but the design and the emotions it triggers in a specific audience.

A key takeaway is that saturation can indicate demand, and by focusing on creating designs that cater to a particular audience, one can still find success.

The speaker provides a detailed breakdown of the costs and profit margins associated with selling a journal on Etsy, highlighting the potential for profitability even with a discounted selling price.

The use of Printify's premium account is suggested for its cost-saving benefits, with a special code offered for a free trial.

The speaker advises against directly copying a successful listing and instead encourages finding one's own niche and tailoring the product to that audience.

A practical guide is provided on how to use KD (a design tool) to create a simple yet effective design for a journal cover, emphasizing the ease of use and the ability to customize templates.

The importance of using accurate mockups for product listings is stressed to maintain customer trust and avoid potential issues.

The speaker shares a tip on how to boost an Etsy store by offering personalization, which can be automated using apps like Hello Custom, making it a manageable process.

The transcript concludes with motivational advice to take action despite fear and uncertainty, emphasizing that the perfect time to start a business never comes and that success comes to those who move forward despite challenges.

The speaker also offers three additional business ideas for 2024 that require no physical inventory and have the potential to earn over a million dollars.