Tax Time

Starting 2010 with starting your own business? Now is the perfect time to setup an accounting program to track your successes, fix what's not working and pay your taxes so you can sleep at night.

The Crafty Panda has been in business since late 2007 and it seems that I've had a new accounting program every year. I started with an Excel spreadsheet that my techie husband created. It was easy to understand and quick to update in the early days. But, as my business rapidly grew, days went by that I didn't have time to manually update the spreadsheet. Ship out 10 items to waiting customers or update financials? No brainer, every time I chose the customer first. Great for business, not so good for accounting.

My husband spent a month updating everything. It left us both grumpy.

The following year, he bought me an expensive version of QuickBooks. Wow!! Fantastic accounting software with a stellar reputation. What could make my life easier?

I was in way over my head. QuickBooks had too many accounting terms (I barely kept my sanity during an accounting course in college - I'm a creative person and there didn't seem to be much room for creativity in accounting), confusing options and it still seemed like a ton of work and manual entries!

This year I'm with Outright.com (which I heard about on Etsy) and so far, I love it! I have three businesses and they are all set up with Outright. I am easily able to import merchant information, expenses, income and more. It's so fast that I actually don't mind doing financials! I thought that would never happen!!

Outright helps keep track of quarterly tax payments, sends reminders and best of all - it's free. Check it out at http://outright.com/

During my research, these also came up with rave reviews http://www.xero.com/ which is $19 per month for a small business and QuickBooks Online Basic http://search.quickbooksonline.com/bookkeeping-accounting-systems/ which has a 30 day free trial and then $9.95 per month. Very reasonably priced and definitely worth paying to keep your sanity.

Find an accounting program that you understand, one that will grow with you and give you the access to share information with your accountant and the time and resources you save will be all yours!

Get Organized with Stack 'N Store Bobbin Tower

January is always a "get organized" month for me with a fresh start to the New Year. My blogs have been sporadic this month while I'm in this organizing frenzy (sorry!). After the craziness of the holidays and sewing/designing non-stop for the past couple of months, it's time to make sure I'm ready to do it all again this year :)

I have great organizers in my studio for ribbons, trims, beads, zippers, thread and fabric, but my sewing machine bobbins always drive me crazy! I use lots of different colors of thread on my bags - especially when I do freehand machine embroidery. That means lots of spools of thread and lots of bobbins. The bobbins are always scattered across my shelves, on the sewing table, tucked in closed boxes and unraveling everywhere. Frustrated with spending tons of time trying to find the right color, I usually just end up winding a new one.

This month I ran across a perfect storage solution for my bobbins. The Stack 'N Store Bobbin Tower from Clover and Nancy Zieman holds up to 30 bobbins, keeps the end of the threads secure and I can easily see all the colors. It's $15.95 plus shipping. Love it!!

Here's the link in case you want to order one (or more!) for yourself: http://www.clover-usa.com/product/0/9508/_/Stack_%27N_Store_Bobbin_Tower_with_Nancy_Zieman

In future posts look for information on accounting programs if you own a craft business and a sneak peak at the paint color for my hallway and living room!

New Panda Bag Design

After the rush of finishing and sending off bags for the holiday season, I'm finally finding a few moments to work on stitching my new designs. I'm starting off the year with a Panda Bag. How fitting for The Crafty Panda!

I love the way it's turning out. I'm going to make a series of Panda Bags and each one will have unique features and design elements.

Here is the first one on the drafting board....

There's more work to be completed on the Panda and on the bamboo. Once I have the design completed, then I'll stitch the bag, add the zipper and interior pocket. The handle design is a new one and I'm still making modifications to ensure that it is super comfortable to carry and multi-functional. Look for it on Etsy in the next week or two!

I sold a bag today to a customer in Taiwan. I'm fortunate to be shipping bags around the world and excited that we have now reached Taiwan. My little Crafty Panda Cubs love tracking our shipments on the globe (which is a great way for them to learn geography!). This will be a new one for them!

Glad you're sharing in our excitement as The Crafty Panda grows. Have a warm day!

Market Your Handcrafted Business

Happy New Year! Is one of your New Year's resolutions to start your own handcrafted business or grow the one you currently have?

Marketing is a necessary component of any business. In order to be successful, you need to ensure that buyers are familiar with your company name and products.

Marketing does not need to be overwhelming. Some crafters are hesitant in marketing their business because they do not want to feel pushy or too aggressive. Use this easy two-point plan and give yourself a jump start!

My two-point plan consists of what I refer to as "mega" and "micro" portions. Each point, or portion, is cost effective and works for either a start-up business or an early stager looking to grow. The first point is "mega" - reaching as many potential customers as possible with a broad sweep.

You can reach many potential customers with free social networking sites such as Twitter or Facebook. With a little research for tips in setting up your free accounts and a daily investment in your time for maintenance, contacts are easily made. Also use Flickr (online photo management) to upload photos of your products. You'll be amazed at the different people you meet. Some may just be online to socialize, but others are editors and writers for publications and blogs that may be interested in showcasing you and your work or buyers for boutiques on the lookout for new and unique items.

The second point in the plan is what I consider "micro" marketing. Marketing to your friends, family, neighbors and acquaintances. For those that are shy, this can seem difficult but I have a few tips to make it painless and profitable :)

First, if at all possible, have samples of your handcrafted items with you at all times. Since I design bags, I only carry my own. That way when someone tells me they "love" my bag, it's the perfect conversation starter to talk about The Crafty Panda. I change my bag often and it's a great way to test new designs. If I carry a bag to several different places and receive no comments, I know it's back to the drawing board. My big sellers always receive comments wherever I go :)

I have a friend that designs jewelry. She was wearing one of her bracelets when she went into a boutique that specializes in handmade paper. The owner loved the bracelet, bought one for herself and referred her to an owner of an upscale jewelry store. The owner is now purchasing wholesale from my friend. Not bad for a day that started with shopping for a few handmade cards!

When a gift giving occasion arises, I like to give a gift from The Crafty Panda. I design and handcraft something special for the recipient. The teachers at my children's school received bags from The Crafty Panda for Christmas. Inside the bags I tucked my business card and received several custom orders for additional bags from teachers and parents.

Three of the six bags that were delivered to the teachers for Christmas!

Need marketing ideas? Want to share a tip that has worked for you? Let me know. Marketing can be stress-free, economical and profitable!