Jennie, you need to make more videos like this. The raw emotion in this video is great! You are trying to push it down and hide it, but this is what every business owner goes through and I think it is very powerful for other business owners to see this is and know they aren't alone. Thank you so much for showing this aspect of business.
Thank you for this video. I am in year 2 of woodworking full time (started in January 23') and you pretty accurately described the ups and downs of year 1. Thankfully I have a very good support system and watching videos that you guys put together is a great encouragement as well. Year 1 I took in over $115k in revenue and my goal this year is over $150k. Keep up the good work! I owe at least some percentage of the courage it took me to make the leap to you and your husband.
Would love to hear more details about your experience, how you found the maket fit for your product and the way you reach customers. Started part-time around the same time, and it has been an uphill battle.
@@sqrtstudio Find a niche and stick with it. It does not have to be something rare but something that a particular group of people really want. For me, that is board game tables. Start with an etsy page and a website. Let etsy feed your website. Post all over. Ads do not really work when you are small. You have to engage and know your customers. Even after hundreds of sales it still sometimes feels like an uphill battle, do not let that discourage you. Once you find a groove orders just seem to come.
I am a one-person shop, and at this point $100K per year is not realistic BUT seeing this video caused me to check my numbers since I started and this month put me over the $100K total for lifetime sales. That is a great accomplishment for me, and I'll continue to go forward doing what works for me. The dollar milestones may be different, but the phases are definitely there. I have had some downs, but this month I have seen some very encouraging results where past work is now paying off.
Great advice. Im at the very beginning of my business journey. I'm still a beginner woodworker. Been doing it for 2 years. I had to leave my kob a couple months ago and am trying to break into the business side of it now. I started out making Carpenter bee traps. Sold 30 or so. Sold a laundry organizer to my brother in law. The last person that bought some bee traps wanted to buy bluebird houses at the rate of 5-10 per week til she has bought 100. Im in my second week of this. Still trying to find more things i can make and sell to keep getting my name out there
100k profit or gross. How much of that was from woodworking? And Not from RUclips, other aocial media and your Studstack? The ony table i know of was the 1 you sold to friends. How many tables did you sell from the boards your realtors gave away? Seems to me , your just pulling info from business books applying common sense to salesmanship. Nothing your doing is special. I do give you credit for selling low end boards for the price you do. The packaging (the first black box was very well done. Lastly your company name and logo to me was superior. I also give credit for your not giving up and teying different ways to make money. But your jist throwing things out there to see whats sticks. You said in a previous post "whats the current trend" you need to set the trend ! Even if its just in your area. Custom tables 1 of a kind using highend wood and joinery. That people walking into to a modle home thinks wow that is beautiful. You two are young and smart go and learn true wood working skills. With mordern tools and CNCs out there your never going to hit your dream . Its to easy for people or companies mass produce what yourmaking. I only do working as hobby so my statement is just my opinion. Constructive criticism only. Hope you take it that way. MOST IMPORTANT.... THANK YOU FOR YOUR SERVICE!!!!!!!
Finally!!!! Some truth. I have my own issues to overcome, but also hearing that there is phases that suck is good prep i hope. Glad to see you gave Davis the day off!!
Hi Jennie and Davis. Good video. I'm not sold on the Stud Stack yet though. It looks as though Jennie is doing the Sales, Marketing, and administration of your business and Davis is doing the Operations and Logistics of the business. I think that's great! But for me, it's just me with no help. The time management of a business requires as much or more time being put into the administration of the business as the operations. How do you suggest that I manage the balance of administration vs operations vs family obligations when trying to build a business as well as managing any risks? I look forward to your response.
With your hurricane research, do you fly on the Air Force C-130 or on the NOAA's P-3, Miss Piggy or Kermit? Just wondering because I worked on the P-3's for NOAA. I like your pricing formula, I'll be using that. I don't even have a 2 car garage to work in, but I have the Florida sunshine and humidity. Saving for a 40 x 40 building to be built on my property. Thanks for all the good info.
I have a question for other woodworkers who started a business. I just started a new business and wanted to know, Do I need an accountant or CPA? Or since it’s a new business, I shouldn’t have to worry about that right away because I won’t have many sales at first anyway?
When are you guys going to get back to making videos in your shop showing what your doing instead of just talking about it. Those are the type of videos I enjoy watching. I know you're trying to help and encourage people but you seem to keep saying the same things over and over again. Showing people what you're doing every day in the shop would be as helpful as all the talk videos. Just my opinion.
The stuff in the shop is the easy part. Also, that is like 30% of my time as a small business owner. The other stuff and the attitude behind it is the most important part.
@@oliver299d you arent wrong. I personally have several 7 and 8 figure businesses and got into woodworking as a hobby, but since i havent launched a business like woodworking, i joined studstack. It gives me 0 value tied directly to woodworking business. its just the most basic 'hype' videos with some of the most elementary advice on business. the discord is absolutely dead and a waste I value mentorship very highly so to me the money doesnt matter, but definitely disappointing
$100,000? I would be happy with $30,000 after taxes first year. Granted $100,000 would give me the ability to build the shop and a few CNC machines that I really want to build, but first year? Eh.
![4 Things you MUST GET RIGHT to Make Money in Woodworking [The Business Bus]](http://i.ytimg.com/vi/-n9-3mMtv9I/mqdefault.jpg)
![4 Things you MUST GET RIGHT to Make Money in Woodworking [The Business Bus]](/img/tr.png)
Jennie, you need to make more videos like this. The raw emotion in this video is great! You are trying to push it down and hide it, but this is what every business owner goes through and I think it is very powerful for other business owners to see this is and know they aren't alone. Thank you so much for showing this aspect of business.
Thank you for this video. I am in year 2 of woodworking full time (started in January 23') and you pretty accurately described the ups and downs of year 1. Thankfully I have a very good support system and watching videos that you guys put together is a great encouragement as well. Year 1 I took in over $115k in revenue and my goal this year is over $150k.
Keep up the good work! I owe at least some percentage of the courage it took me to make the leap to you and your husband.
Would love to hear more details about your experience, how you found the maket fit for your product and the way you reach customers. Started part-time around the same time, and it has been an uphill battle.
@@sqrtstudio Find a niche and stick with it. It does not have to be something rare but something that a particular group of people really want. For me, that is board game tables. Start with an etsy page and a website. Let etsy feed your website. Post all over. Ads do not really work when you are small. You have to engage and know your customers. Even after hundreds of sales it still sometimes feels like an uphill battle, do not let that discourage you. Once you find a groove orders just seem to come.
Thank you for sharing your heart. I’m looking forward to hitting this milestone in the next couple years!
I am a one-person shop, and at this point $100K per year is not realistic BUT seeing this video caused me to check my numbers since I started and this month put me over the $100K total for lifetime sales. That is a great accomplishment for me, and I'll continue to go forward doing what works for me. The dollar milestones may be different, but the phases are definitely there. I have had some downs, but this month I have seen some very encouraging results where past work is now paying off.
Great advice. Im at the very beginning of my business journey. I'm still a beginner woodworker. Been doing it for 2 years. I had to leave my kob a couple months ago and am trying to break into the business side of it now. I started out making Carpenter bee traps. Sold 30 or so. Sold a laundry organizer to my brother in law. The last person that bought some bee traps wanted to buy bluebird houses at the rate of 5-10 per week til she has bought 100. Im in my second week of this. Still trying to find more things i can make and sell to keep getting my name out there
100k profit or gross. How much of that was from woodworking? And Not from RUclips, other aocial media and your Studstack? The ony table i know of was the 1 you sold to friends. How many tables did you sell from the boards your realtors gave away? Seems to me , your just pulling info from business books applying common sense to salesmanship. Nothing your doing is special. I do give you credit for selling low end boards for the price you do. The packaging (the first black box was very well done. Lastly your company name and logo to me was superior. I also give credit for your not giving up and teying different ways to make money. But your jist throwing things out there to see whats sticks. You said in a previous post "whats the current trend" you need to set the trend ! Even if its just in your area. Custom tables 1 of a kind using highend wood and joinery. That people walking into to a modle home thinks wow that is beautiful. You two are young and smart go and learn true wood working skills. With mordern tools and CNCs out there your never going to hit your dream . Its to easy for people or companies mass produce what yourmaking. I only do working as hobby so my statement is just my opinion. Constructive criticism only. Hope you take it that way. MOST IMPORTANT.... THANK YOU FOR YOUR SERVICE!!!!!!!
Finally!!!! Some truth. I have my own issues to overcome, but also hearing that there is phases that suck is good prep i hope. Glad to see you gave Davis the day off!!
Great advice! I hope this really helps a lot of people out!
Hi Jennie and Davis. Good video. I'm not sold on the Stud Stack yet though. It looks as though Jennie is doing the Sales, Marketing, and administration of your business and Davis is doing the Operations and Logistics of the business. I think that's great! But for me, it's just me with no help. The time management of a business requires as much or more time being put into the administration of the business as the operations. How do you suggest that I manage the balance of administration vs operations vs family obligations when trying to build a business as well as managing any risks? I look forward to your response.
I’m interested in finding out how you advertise and do you use a Shopify app or other app to sell your product. Thanks
LOVE this! This is the type of HYPE everyone in the community needs🙌🏼🙌🏼
With your hurricane research, do you fly on the Air Force C-130 or on the NOAA's P-3, Miss Piggy or Kermit? Just wondering because I worked on the P-3's for NOAA. I like your pricing formula, I'll be using that. I don't even have a 2 car garage to work in, but I have the Florida sunshine and humidity. Saving for a 40 x 40 building to be built on my property. Thanks for all the good info.
Do you have a video on how you got started?
How do I join the stud stack?
I have a question for other woodworkers who started a business. I just started a new business and wanted to know, Do I need an accountant or CPA? Or since it’s a new business, I shouldn’t have to worry about that right away because I won’t have many sales at first anyway?
You should speak to a CPA to make sure all of your paperwork is set up to give you the best tax benefits
When are you guys going to get back to making videos in your shop showing what your doing instead of just talking about it. Those are the type of videos I enjoy watching. I know you're trying to help and encourage people but you seem to keep saying the same things over and over again. Showing people what you're doing every day in the shop would be as helpful as all the talk videos. Just my opinion.
The stuff in the shop is the easy part. Also, that is like 30% of my time as a small business owner. The other stuff and the attitude behind it is the most important part.
because they're not making any money doing that, they're making money making you think you'll get rich, when the reality is you won't
@@oliver299d you arent wrong.
I personally have several 7 and 8 figure businesses and got into woodworking as a hobby, but since i havent launched a business like woodworking, i joined studstack.
It gives me 0 value tied directly to woodworking business.
its just the most basic 'hype' videos with some of the most elementary advice on business. the discord is absolutely dead and a waste
I value mentorship very highly so to me the money doesnt matter, but definitely disappointing
$100,000? I would be happy with $30,000 after taxes first year. Granted $100,000 would give me the ability to build the shop and a few CNC machines that I really want to build, but first year? Eh.
What a pile of BS…..word salad….this is entertainment this is not business school!