Hello everybody! Welcome back to the Side Hustle Playbook. In this blog post, we will be diving into our year-end review for 2023 and discussing our goals for the exciting year ahead, 2024. Join us as we reflect on what worked well, what didn’t, and the strategies we have in place to take our side hustles to the next level.
2023 Year-End Review:
eBay: A Tried and True Revenue Stream
One of the main highlights of 2023 was our continued success on eBay. Despite a slightly lower average order value, we were able to consistently sell items and generate revenue. Focusing on specific items and maintaining a steady flow of sales, eBay has proven to be a dependable platform for our side hustles.
Shopify: Slow and Steady Growth
Our Shopify store showed promising growth, especially during the Black Friday and holiday season. With a seasonal focus on spring, we are gradually seeing sales ramp up. Our goal for 2024 is to maintain this momentum and further expand our reach on the Shopify platform.
Etsy: Steady Sales and Transitioning to Our Own Platform
Sales on our Etsy store remained consistent throughout the year, without any significant spikes. While we are happy with the growth, our end goal is to transition away from Etsy and establish our own platform. This will give us greater control and flexibility over our side hustles.
Merch by Amazon: Unexpected Decline
One of the surprises of 2023 was the decline in sales on Merch by Amazon. Previously a consistently profitable venture, we experienced a downturn, especially during the holiday season. Despite our efforts to improve sales, we were only able to reach the average numbers we achieved in previous years. Moving forward, we plan to continue uploading designs and monitoring the performance, hoping for a better outcome in 2024.
Big Commerce: Seeking Opportunities for Growth
While we initially had high hopes for our Big Commerce shop, we did not achieve the traction we anticipated. We are currently exploring various strategies to drive traffic and increase sales, including potential advertising efforts. Until we determine the best course of action, we will maintain our presence on Etsy and work towards improving our Big Commerce store in the coming year.
DTG: Transitioning to Screen Printing
In a significant decision, we moved away from DTG (Direct-to-Garment) printing. While we took a loss on our DTG machine, we found relief from the maintenance and stress it entailed. Looking ahead, our focus will shift towards screen printing. By producing shirts at a lower cost and higher quality, we aim to increase profitability and have more room for profit margins on platforms like Etsy and eBay.
Goals for 2024:
Continuing Success on eBay
Our first goal for 2024 is to further grow our eBay store. We will explore strategies to expand our product range and optimize our listings to attract more customers. By capitalizing on our proven revenue stream, we aim to maximize our earnings on this platform.
Screen Printing: A New Avenue
With DTG behind us, we are excited to venture into screen printing. Though it will involve a significant learning curve, we are determined to produce high-quality shirts at lower costs. This move will give us greater flexibility in pricing and profitability, especially on platforms like Etsy and eBay.
Improving the Shopify Store
In our pursuit of growth, we plan to enhance our Shopify store. One strategy we are considering is participating in in-person events related to our niche. These events will help us promote our brand and connect directly with customers, increasing both local and online sales.
Mastering SEO for Better Visibility
To improve our online presence, we have invested in learning more about search engine optimization (SEO). By optimizing our listings and website for SEO, we expect to attract organic search traffic and increase sales. Additionally, we may explore advertising opportunities on platforms like Google and Facebook to further boost traffic and sales.
As we wrap up our year-end review for 2023 and share our goals for 2024, we are filled with excitement and determination for the path ahead. Our side hustles on eBay, Shopify, Etsy, and print-on-demand platforms have shown both successes and areas for improvement. By capitalizing on our strengths and exploring new avenues, we aim to further grow our businesses and increase profitability. We invite you to join us on this journey, as we document our experiences and strive to succeed in the world of side hustles. Stay tuned for more updates, videos, and insights throughout the year. Thank you for your support!
