Markets aren’t going to be my legacy.
Recently had a discussion with small business friends that are in similar stages of business as myself. Shout out Ashley (https://ashleyfryestudio.com/) & Lindsy (https://happylittlepaper.co/) which led to some thoughts and how I am allotting my time with my business. And honestly I want to change it.
As you may know, what I anticipated to be my biggest event of year was canceled due to flooding 10/11. (if you want to read about it: https://view.flodesk.com/emails/68ed480d053972caef063c68) And with that cancelation came anxiety about “how am I going to pay my bills? How will I pay for this?” Since it was canceled, I used that as an excuse not to do much of anything last week in my business.
WHICH IS ABSURD. Because markets aren’t the end game. I don’t want markets to be my legacy.
SO WHY AM I TREATING THEM LIKE THEY ARE?!
The best answer I can give you is that they are an easy gratification situation. Most of the time I walk away from an event that is 5 to 10x return on my investment. Investment meaning the booth fee.
However, if you really think about it, that doesn’t include the time. And time is precious.
What if I decided to use my time during the weeks in a different way?
Instead of spending all of this time prepping for events (or in some cases thinking about prepping for events 🙊) I use this precious time to work on any other aspect of my business.
Here is just a SMALL list of things I could be focusing on:
❤️organizing and updating my wholesale outreach spreadsheet
🧡finishing my wholesale catalogue
💛taking product pictures
💚creating a product launch calendar and tasks list
💙segmenting my email list and organizing that entire system
💜planning for next months patreon
🩷SOCIAL MEDIA!
This is truly just a small list of shit I could be doing for my business that doesn’t involve markets.
While I wouldn’t necessarily making money instantaneously from these tasks, they would be putting in the right direction to be making money on wholesale and my website consistently.
That is the keyword in all of this. Making money consistently. I am so tired of chasing that market high. When sometimes it ends up being a low or just mid. All it does is give me and Zach anxiety.
Now do I see myself getting out of markets totally? Absolutely not.
how could I give up this set up?
I’d like to do just a few markets a year. The ones I do every year that are easy, make money, and low-stress.
I finally have the set up down (and even alternates for different conditions and sizes). I love seeing people IRL. This can be a lonely job. And I am an extrovert. So seeing the people energizes me! And if i am going to be 100% honest, I love the validation when i hear “oh I love your booth!” “these are so funny!”
All of those things are great, but in the end is it worth it for the time and energy that I put into these markets? No.
Because I can get these satisfactions in other ways.
Comments and people sharing their products on social media is a form of validation.
Doing a few co-working sessions in person would really energize me and even help me with that to-do list.
At the end of the day, I want my business to grow while I do. I want stability and consistency. Not a constant cycle of event prepping and post-event burnout. I want my time to build something that lasts longer than a Saturday in a 10x10 space.
I want my legacy to be a brand people know, love, and share ONLINE. Not just in person.
My time matters. My energy matters. My long-term vision matters. And I’m finally going to start acting like it does.
So with that, should I apply to an event that does give me the most most revenue even tho it is an expensive market? And my numbers went down this year from last?
7 comments
Ive been talking about this w fellow small biz peeps for a few years now and sadly STILL haven’t made the shift. It’s so hard to leave the validation & sales behind – when it’s such a significant part of my income. But I can’t rely on them anymore, at least not as heavily. Thanks for sharing because there’s comfort in knowing fellow small biz peeps are feeling it too.
This is something I’ve been thinking about a lot, especially after an experience I had at a market last Spring that was supposed to be a large event and was actually completely dead (and had an enormous fee), along with a few other less than stellar markets after that. I know we always take risks with markets to some degree, but one thing that really struck me in the first part of the year is that when a market doesn’t go well, there’s not only the time, money (in the form of fees and possibly inventory) lost, but also an emotional hangover! At least for me. Every time I have a shit market that I had expectations for, it takes a day or two to shake off the disappointment and the general feeling that no one wants to buy my products. I think next year, I’m going to map out how many markets I do that are more or less reliable, steady, or great returns on investment (markets I’ve done multiple times and know I can rely on) vs. how many I do that are experimental or are for the purposes of gaining new customers from a different location. I haven’t decided the ratio, but I’m thinking 2-3 markets in the experimental category and the rest in the (hopefully) reliable category. Also thanks for writing this post! Small business planning and strategy can indeed be a lonely endeavor and I’m always up for talking shop!
Every small business has to do what is best for them. Trying something different for your business does not mean an end all to that aspect of your business. It’s a shift, that if it works, great. If it doesn’t, then another shift. Shifting is also growing, because you’re paying attention.
100%, I’ve been thinking about this a lot!
Came to this realization after I didn’t get into my best market of the holiday season this year.