Kind of a negative way to start the new year, right …. but this is really important and super time-sensitive and I truly believe if you follow these 7 steps, 2024 could be your best digital product business year ever!
1. You don't have a goal for your business.
If you don't set any goals, you have no way of measuring your successes (or failures).
This could be like setting a goal for a certain number of listings published each week or month.
Maybe a certain number of hours spent researching new products for your audience.
Try to have your goals set by the end of the month so you have a clear idea of what you want to accomplish this year in your business.
2. Don't over complicate your goals.
So many times, I've seen new sellers set 50+ different goals that are overly complex and unrealistic with their current life situation.
Set realistic goals that will move the needle forward in your business and avoid the ones that will have little impact.
3. You keep goals to yourself.
This one is hard because I know what it's like to not want to share new business endeavors because you're afraid of failing and everyone knows about it.
In my early days online, I failed with so many business models and I started keeping things to myself which led to years of procrastination and income lost because I wasn't driven enough to prove otherwise.
When I started sharing my goals, I wanted to prove I could actually follow-through with them and do what I said so this has become a ritual in my business life.
Share with a partner or a friend so that you are held accountable and if you don't have one, join a community of like-minded individuals who support each other and encourage success.
4. Quitting when you don't see success soon enough.
This is a big one with new Etsy sellers, or really any online business. We've been trained to think everything can be "passive income" (I hate that word) or an easy side hustle and while it can be more passive or easier later down the road, the reality is that an online business takes work, a lot of upfront work before most see success.
Just come with the mindset that you're willing to put in the work and not give up. These two things will get you there as I can promise, all I did until I saw success was not quit and kept trying.
5. Going it alone.
Starting an online digital product business is a very lonely game; it's unlikely that all your friends and family understand why you want to leave your 9-5 and support yourself, so most people won't understand why you're dedicating crazy amounts of time to this adventure, and you’ll have nobody to talk to about the thing you’re probably most passionate about (which sucks).
Find at least one other online business owner you can talk to on a regular basis.
Join a FB group (make sure it's a good one though, as I've found many of them are negative), or a Discord chat.
My own group has recently been revamped for 2024 with a new mission and goal in mind to foster a more focused educational and dedicated private community off of FB :)
6. Growing your Instagram, Facebook, TikTok, Pinterest, YouTube, etc.
While I completely recommend growing at least one social media presence...many new sellers try to post and grow on 5+ platforms which just does not work as every platform has a unique algorithm and learning curve.
Just focus on the one where your customers most likely are and master that platform.
7. Worrying about the competition
I'm sure you've seen several new digital products on Etsy explode in 2023.
You aren't falling behind and as long as you are taking those steps towards the goals you've set for your business, that's all that matters.
Success looks different for everyone and levels of success are different for everyone so it doesn't matter what the shop next door is doing.
Focus on the goals you've set for yourself and don't get shiny object syndrome or start playing the comparison game as this just takes you away from your goals.
I wish you so much success in 2024 :)
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