Love him or hate him, Josh Silverman is one of the big names of 2017. Not a politician or part of the Hollywood elite, but creating controversy nonetheless at a place that’s close to our hearts.
When Silverman stepped in as the new Etsy CEO earlier this year, his mandate was growth. That meant growth for shareholders, but also growth for sellers.
The past few years haven’t been easy, for Etsy or sellers. Despite their increasing Gross Merchandise Sales, 2014 through 2016 saw the average amount spent per buyer and per item fall. More buyers who buy cheaper things for less is not a good outcome for handmade businesses trying to crack a luxury market!
Despite this, sellers as a whole haven’t welcomed Silverman with open arms. They see him representing “big capitalism” and fear the changes he’ll bring will destroy the last vestiges of the Etsy they once knew.
A scary story, perhaps. Let’s take a break for a moment and think about ourselves…
The smell of your morning coffee still lingers in the air as your daily task list looms.
Gotta answer those customer questions…
Better update those old product descriptions…
What about that new Instagram photo challenge?
Oh and making some beautiful things. You know – the whole reason your shop exists.
Thank goodness for that coffee!
It’s hard work running a small business, especially when your online shop needs so much marketing and promotion to keep making sales. Sometimes it feels like you do more “business” than “making”.
So what I’m about to suggest might sound a little scary. We’re going to go even deeper into “business”.
The level of strategy and KPIs.
Key performance indicators? Really??!
Don’t worry, these aren’t the “awkward closed-door meetings with your boss” kind of KPI. These are the kind that focus how you measure your shop’s performance and tell you when to have a celebratory drink.
If you don’t know what success should look like, how will you know when you get there? How will you know when to crack that champagne?!
You need to figure out what your “success metrics” are, first.