Podcast Summary: Ep 156 | What Happens If You Don't Give Up on Etsy? -- With Preston Cox

Release Date: November 21, 2024

In Episode 156 of How to Sell Your Stuff on Etsy, host Lizzie Smiley engages in an inspiring and candid conversation with Preston Cox, an Etsy entrepreneur who exemplifies perseverance and innovation in the competitive online marketplace. This episode delves deep into Preston’s entrepreneurial journey, his strategies for Etsy success, and valuable insights for both new and seasoned Etsy sellers.

1. Introduction

Lizzie Smiley opens the episode by expressing her enthusiasm for the conversation with Preston Cox. She shares updates about her own Etsy ventures, including recent sales milestones, ongoing workshops, and courses designed to help Etsy sellers navigate the platform effectively.

Notable Quote:

"What you're doing is phenomenal. I'm just excited to share it with people." (Lizzie Smiley, [08:46])

2. Guest Introduction: Preston Cox

Preston Cox is introduced as a multifaceted entrepreneur with a diverse background, including roles as a minister, marketing manager, and freelance social media manager. Currently residing in Stamford, Texas, Preston balances his responsibilities as a husband, fur parent, Chamber of Commerce manager, and co-manager of a historic single-screen movie theater.

Notable Quote:

"I have a lot of tools in my toolbox. A lot of them just kind of like school, hard knocks." (Preston Cox, [15:33])

3. Preston's Etsy Journey

a. Early Endeavors and Transition to Etsy

Preston shares his initial foray into Etsy in 2020, aiming to monetize his Canva design skills through printables. Despite encountering challenges, his persistence led him to pivot towards laser engraving, ultimately discovering a lucrative niche in locally themed leather patch hats.

Notable Quote:

"I didn't know we were going to find something I was just kind of doing just because it was funny and it actually happened." (Preston Cox, [19:18])

b. Success with Leather Patch Hats

Leveraging his passion for design and local pride, Preston launched a line of leather patch hats featuring town names and zip codes. This unique offering resonated with his community, leading to over 100 sales within a few months of launching his new Etsy shop.

Notable Quote:

"I have to wear ear protection. I have to wear a mask. The particles are nasty. It was making my shop nasty." (Preston Cox, [25:36])

4. Etsy Strategies Discussed

a. Finding and Leveraging Micro-Niches

Both Lizzie and Preston emphasize the importance of identifying micro-niches within Etsy to minimize competition and maximize sales potential. Preston attributes his success to focusing on personalized, locally-themed products that cater to specific customer interests.

Notable Quote:

"I think Etsy still is a DIY site. I think that people still want to buy things that they can make or that they can put together themselves." (Preston Cox, [29:28])

b. Utilizing Tools Like Everbee and SEO

Lizzie introduces tools such as Everbee and techniques like SEO to help sellers discover trending products with low competition. She advises using these tools to analyze tags, search volumes, and competing listings to identify profitable opportunities.

Notable Quote:

"Look for ones that have at least a hundred searches a month but have under 10,000 competing listings." (Lizzie Smiley, [53:52])

c. Diversifying Product Listings

Preston discusses the effectiveness of diversifying his product listings to appeal to a broader audience and increase sales. By offering both physical products like patches and leveraging digital designs, he ensures multiple revenue streams.

Notable Quote:

"Diversify the income. I want to change it up. I want to make sure that I'm not putting too many eggs in one basket." (Preston Cox, [39:24])

5. Lizzie's Insights and Recommendations

a. Weekly Trends and Opportunities Report

Lizzie highlights her weekly trends and opportunities report, which provides Etsy sellers with up-to-date information on market trends, video tutorials on trend application, and five print-on-demand and digital product opportunities with growing demand.

Notable Quote:

"We're taking guesswork and time expenses, extensive time off of your table." (Lizzie Smiley, [21:01])

b. Six Figure Secrets Course

Lizzie promotes her comprehensive course, Six Figure Secrets to Getting Started on Etsy, designed to bridge the beginner knowledge gap with bite-sized, actionable videos. The course covers essential topics such as demand analysis, SEO strategies, and Etsy algorithm insights.

Notable Quote:

"If you've been here for a minute, you already know this. I'm a terrible gatekeeper, okay? When I figure something out, when I crack a code, I cannot help but tell everybody who wants to listen." (Lizzie Smiley, [48:07])

6. Challenges and Scaling

a. Managing Saturation vs. Diversification

Preston shares his skepticism about market saturation, arguing that with unique designs and impeccable customer service, sellers can thrive even in crowded niches. He emphasizes the importance of continuous innovation and responsiveness to customer needs.

Notable Quote:

"I want to make better designs and I want to have impeccable customer service." (Preston Cox, [34:57])

b. Time Management and Balancing Multiple Roles

Balancing multiple responsibilities proves challenging for both Lizzie and Preston. Preston discusses the difficulty of managing his time across various ventures while striving to scale his Etsy business, highlighting the necessity of prioritization and selective commitment.

Notable Quote:

"Time is the biggest barrier right now. I work, like I said, I work a real life job as a chamber manager." (Preston Cox, [42:16])

7. Conclusion

The episode wraps up with mutual appreciation between Lizzie and Preston. They reflect on their journeys, celebrate Preston’s achievements as a testament to not giving up, and express excitement for future collaborations. Lizzie encourages listeners to utilize the strategies discussed and to engage with her resources for further Etsy success.

Notable Quote:

"Thank you so much, Preston, for believing in yourself, for believing in me, for being my very first coaching client, for sticking with me all this time." (Lizzie Smiley, [65:03])

8. Key Takeaways

• Persistence Pays Off: Preston’s journey underscores the importance of not giving up despite initial setbacks.
• Identify and Exploit Micro-Niches: Focusing on specific, underserved markets can lead to significant success.
• Leverage the Right Tools: Utilizing SEO tools and market analysis software like Everbee can inform better product decisions.
• Diversify Offerings: Offering a mix of physical and digital products can stabilize income and mitigate risks.
• Continuous Learning and Adaptation: Staying abreast of market trends and being willing to pivot strategies are crucial for sustained growth.

Notable Quotes with Timestamps

• Lizzie Smiley: "I absolutely love helping people connect with their calling and all the tools they need to kick roadblocks and excuses right out the door so they can cultivate the life they dream about." [00:00]

• Preston Cox: "I have a lot of tools in my toolbox. A lot of them just kind of like school, hard knocks." [15:33]

• Preston Cox: "I think Etsy still is a DIY site. I think that people still want to buy things that they can make or that they can put together themselves." [29:28]

• Lizzie Smiley: "Look for ones that have at least a hundred searches a month but have under 10,000 competing listings." [53:52]

• Preston Cox: "Diversify the income. I want to change it up. I want to make sure that I'm not putting too many eggs in one basket." [39:24]

• Lizzie Smiley: "If you've been here for a minute, you already know this. I'm a terrible gatekeeper, okay?" [48:07]

• Preston Cox: "Time is the biggest barrier right now. I work, like I said, I work a real life job as a chamber manager." [42:16]

• Lizzie Smiley: "Thank you so much, Preston, for believing in yourself, for believing in me, for being my very first coaching client, for sticking with me all this time." [65:03]

Final Thoughts

This episode serves as a motivational blueprint for Etsy sellers, demonstrating that steadfastness and strategic innovation can lead to remarkable success. Preston Cox’s story, coupled with Lizzie Smiley’s expert advice, offers listeners actionable steps to enhance their Etsy businesses and overcome common challenges.

For more resources, tips, and in-depth strategies, visit howtosellyourstuff.com where you can find podcast show notes, blog posts, courses, and coaching services tailored to help you thrive on Etsy.