I see it all the time, and not just in the fiber arts business. Entrepreneurs so excited to hop into business and they either do their work and flourish; or they skip steps and go out of business just as quickly as they started.
No, there is no magic formula to making a business work, and certainly not in the fiber arts world where there are so many subjective variables that contribute to a successful endeavor. We can, however, work on the things within our control and hope for the best.
As someone with experience at the business end of multiple service-related industries (health care, hospitality, and fiber arts to name a few), I like helping people try to realize their dreams of owning or running a successful business.
In a previous blog post, 7 Mistakes to Avoid When Starting or Growing Your Fiber Arts Business,I talked a little bit about avoiding the mistake of “not sticking to a marketing strategy”. I’d like to expand on that a little and talk about a few of the do’s and don’ts of marketing your fiber arts business.
In further posts, I’ll get into some social media marketing tips, but for now, let’s talk in general. Shall we?
THE DOs OF MARKETING YOUR FIBER ARTS BUSINESS
- Establish your tribe: This is the latest jargon for find your niche, aka your corner of the market. Determine who you want to be your primary customer base and stick with it. Do some research. How old are they? Are they male or female (I know I’m super simplifying gender here, but if you’re marketing to a specific niche of the gender spectrum, establish that and own it)? Is your tribe more likely to buy from you online or in a physical shop? These are all things you need to define in your business plan, because marketing is a BIG part of what you’ll be doing to keep your business up and running.
- Show & Tell: Show and tell all the things that make you unique. Make it obvious what your specialty is. OMG Yarn (Balls), from the yarn side, specializes in unique dye techniques that include speckle dyes and combinations of multiple dyeing techniques. I also offer patterns that can be used on my yarn or some of my favorite LYS-caliber yarns that you can find in big box stores. I mean, not everyone can afford $25 a ball to make a sweater, right? Show some of your life behind the scenes, get people interested in what you do and some of how you do it. Share your favorite color ways. Knit/crochet with your yarn or spin with your fiber. Show people why it is the best. Most of all, show your personality. Let people care about you and your business.
- Expect to spend most of your time marketing your business: This is a big one. You will not be spending all your time knitting or dyeing, you’ll be spending it talking about your business or chatting with other business owners like yourself. I dye yarn once a week right now, but I spend about 20-30 hours a week hanging out with the Mildly Offensive Fiber Artists, MOFA admins, testing my own patterns over and over again (and coordinating testers other than myself), giving away copies of my patterns, planning Instagram posts, working on blog posts and coordinating guest posters, and so much more. The hard work is to paying off too!
THE DON’Ts OF MARKETING YOUR FIBER ARTS BUSINESS
- Don’t skip your market research: Let me repeat that for those of you in the back: “DO NOT SKIP YOUR MARKET RESEARCH”, it will be your undoing. Why would you put all your money and effort into a business and self-sabotage by not doing your prep work. You wouldn’t knit a $5,000 sweater with the wrong needles or yarn, spending a year knitting it, only to throw it out, would you? Not on purpose.
- If you’re opening a brick and mortar shop, make sure your market is not saturated. That means, check to see how many yarn shops are within a 5- to 10- mile radius and see what they’re doing. If there’s already at least one, probably not the area for you, even if you THINK you could do better. When I closed our shop, we were doing well, but two yarn shops opened just before then. My business model limited overhead costs and had a lot of what I called side-hustles. It paid for itself and eventually some bills for at home too.
- If you open up in a market where there’s only $75k or less to be made, you’re taking money out of your own pocket and that of the other shops (aka you’re limiting your market share). Also, do as I mention above and make sure you differentiate yourself from the competition. If they carry a lot of a certain brand, carry a different one. If people are looking for that specific brand, be willing to send them to that store, because guess what, they’ll be more likely to send people to you when they don’t carry something you have.
- Don’t skip any other part of your business or marketing plan: It doesn’t have to be a 90-page doctoral thesis on the yarn biz, but you do have to plan things. A simple business and marketing plan for your business could be 1-5 pages of bullet points that include your mission (your overarching goal), vision (how you expect to achieve that overarching goal), and the financial piece (how much you will invest and reasonable expectations for income and expenses).
- Don’t expect to copy exactly what other businesses do and be successful at it: You may not have the certain magic that makes their business plan works. For example, don’t expect to do everything StevenBe does, because YOU ARE NOT STEVENBE, YOU ARE YOU. What makes you magical? That should always be part of your business plan. If you are the brioche master, show it and own it. If you like loud, unique color combos, make that known. Make it your life.
Get it now? Seriously, you’re more than welcome to contact me for questions or more tips in this department. I’ve been doing this for over a decade now (I got my MBA in 2006 and have been in business management in some capacity ever since).
Overall, DO HAVE FUN. If it’s your passion, it won’t feel like work.
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