Tuesday, April 26, 2011

Business Decisions

I've been doing some behind-the-scenes work on my business lately. I wish running a business were all about creating and selling, but there are other things to consider when running a business. Here are a few things I've been doing for my business:
1. I got business insurance. After purchasing my laser, I knew I wanted to get additional insurance for it. I thought I would just get a rider on my home owners policy, but after talking with my insurance agent, he recommended business insurance. I got a very affordable policy for a little over $300/yr. This gives me $15,000 in personal property and $500,000 in liability. Some larger shows require you to have this much insurance, so I went with the larger amount. He mentioned something as simple as someone tripping over your power cord at a show and getting hurt. Gets your mind thinking!
2. I purchased a credit card machine and set up a Propay account. I have read for a long time that accepting credit cards at shows will get you more sales. I knew I would be doing quite a few shows this year, so I took the plunge. I'm not very happy with the machine I purchased (you get what you pay for) but I am happy with Propay. I've already processed 3 transactions and all were simple and painless! Time will tell if this is something I want to continue using.
3. Using downtime wisely. I haven't had too many custom orders lately, so I've been staying busy doing research for my business. I've looked into new things I can create with my laser. I've looked into new techniques and read tons of tutorials! As I said before, there is so much more to running a business than just creating and selling. Use the slow times to do the other things that will help your business. The next step on my list is to create my own website. This won't happen overnight, but it is the next big thing on my todo list. I want to start marketing to other businesses, corporations, schools, cities, etc. I want to get into the awards part of engraving and I feel a website away from Etsy would be the proper way to do this. I also need to create brochures for each type of business I want to market to. What behind-the-scenes work have you been up to?


  1. I have a ProPay account, too, though I couldn't use the little scanner because I have a Mac (and the scanner only works with Windows).

    When did you know it was time to get business insurance? And who did you contact about that?

  2. Great minds think alike!!:)

    I have been working on a website with a different type of product. Like you, I have spent a lot of time researching and it sounds like you are prepared.
    I like the idea of the insurance. Great idea.

  3. Some exciting things on the horizon it seems! I've been wanting to do a website too and have been talking to Erika about it. I need to get over my tax season funk and get my booty in gear!

    I also just saw on a show application about business insurance and think I have to get some too.

  4. I've been cleaning! I know that doesn't sound huge - but it IS.

  5. You are very business savvy!
    The insurance thing is definitely important. At craft shows over here people still prefer to pay in cash :)

  6. edi - it sounds like you'll be doing "Memories" full time pretty soon! I've never thought about insurance.... A credit card machine is great for shows, and I'm always looking at videos on youtube - I love it.

    I learned how to make the paper beads on youtube and just bought a tutorial from one of my favorite "journalist." Good luck with the website!

  7. Good girl! Sounds like you're really doing your work (for your business). Taking credit cards is a must. YOu will get more sales that way.
    I never thought about the insurance thing; now I have something else to consider.

  8. exciting to read this, Edi! excited for you! I see you being very successful and having this business as your full time work.


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