5 Financial Tips for Handmade Businesses

Running your own handmade business is undeniably fulfilling, but it also comes with its share of challenges, especially when it comes to managing your business finances.

In this video, Mei Pak will share with you five essential tips on how to navigate the financial side of creative entrepreneurship more effectively.

We’ll cover the following topics:
• Strategies for surviving slow sales months and coping with inconsistent income
• How to price your handmade products fairly and confidently
• What financial goals should you set and how to track your cash flow
• Should you separate your business and personal finances?

Starting a business doesn’t have to be so stressful. Watch this video if you’re tired of worrying about your finances for practical insights and actionable tips.

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Timestamps

00:00 Introduction, why I made this video
00:51 Challenge #1: Managing Uneven Income
01:57 Challenge #2: Pricing Your Work Confidently
02:47 Challenge #3: Tracking Business Expenses
04:22 Challenge #4: Setting Financial Goals
05:19 Challenge #5: Separating Business & Personal Finances

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Enjoyed this video? ⭐ I teach a FREE workshop that deep dives on How To Create A Profitable Handmade Business Without Keeping Up With Social Media.
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🎥 WATCH RELATED VIDEOS:
Don't Overpay Taxes in Your Small Handmade Business

Tax Essentials for Makers Selling Products Online

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[CreativeHiveCo]

🚨NEW FREE WORKSHOP FOR 2024 🚨 Learn how to create a PROFITABLE handmade business online without keeping up with social media

[TaeKenzie]

As someone who aspires to be famous jewelry business, Thank you!!

[HomemadeAC]

Excellent...
When I used to work expansions in Texas refineries I used to save during boons to relax after completion rdfs. Up to now i hadn't thought about doing the same as a maker builder. Very good advice & reminders!
Thanks for sharing
James

[songipek]

thank you so much, always a good start of my workday to listen your wise advices, cheers from Basel

[kirstenpennington]

This is a great video! Thank you! ♥️ Just found your channel and love it! Subscribed, and will be binge watching your past videos! 🥰

[neanea]

You mentioned a free pricing calculator in the video. Is there a link you can share?