I love working with producers who are new to wholesaling. Their spirits are high, and their expectations are low — which can or cannot help them with their business.
I worked with one producer who set up such strict wholesale terms that even I could not sell her products! Then there are those who are loosy-goosy about everything with no real policies or procedures in place. Neither option is good.
Jess from Create and Thrive wrote an excellent article addressing this issue:
5 Ways You’re Setting Yourself up for Failure
1. Giving up too soon
Let’s just get this out of the way straight up. If you’re starting a handmade business expecting to be making a 6 figure profit in the first year – or even 2-3 years – please don’t bother….
Unless you are in the infinitesimal minority who have an absolutely brilliant, unique idea, AND know how to run a brilliant marketing/advertising campaign to get your brand off the ground, it is very likely going to take YEARS before you’re making really decent money from your handmade business….
If you’re not in it for the long haul, don’t start.
2. Focusing on the negative
… If you catch yourself doing this – stop.
No-one is responsible for the success or failure of your business but YOU.
Stop blaming, stop complaining, stop obsessing over your competitors, stop focusing on the negatives, and start focusing on the positives….
Don’t focus on the sales you don’t get – focus on making the customer experience for the sales you DO get absolutely fricking amazing so your customer raves to all their friends about how amazing you are and how gorgeous your product is.
Focus on how you can grow your business in the right direction. See every challenge as a way to grow and evolve.
3. Split focus
… It’s an oh-so-common pitfall amongst creative types, because we have so many ideas, and we get bored easily….
Sales follow your focus….
Give yourself a timeframe to focus on one only (say, 12-18 months) before you’re allowed to start a new venture….
4. Too much ‘research’ not enough action
How long have you been ‘just learning’ about how to do what you want to do?
Are you that person who has all the theoretical knowledge… but are yet to do anything about it?…
That said… there is definitely such a thing as too much research.
There comes a point where you just have to take the leap.
Stop planning and start doing….
But until you actually step into the arena and start failing and succeeding, you’ll never make real progress.
5. Waiting for perfection
This is closely linked to number 4. Too often, people hang back from taking action because of fear.
They’re afraid of not being perfect. Of not having a perfect product, or perfect packaging, or perfect photography.
Nothing is ever perfect….
