How few - the economics of handmaking

Be careful what you wish for. Not frequently quoted as the most crucial thing to bear in mind when starting a business but, trust me, it is.

You see handmaking businesses often start out as a dream - a dream of independence, excitement, creativity - and yet, can so easily end up in drudgery. And, unfortunately, the path to peonage is planned from the outset.

Artisans are typically lured into starting their own businesses through the love of their craft. Often the craft came first. Next came the dream of making a living out of doing this thing they love. They can scarcely imagine there might come a day when they would rather do anything than make another one of those flippin' necklaces.

Sadly, for many that day will come. And, sooner than they think. It oftens comes early because that's the way they did the maths.

It is tempting when you're writing a business plan to think about what's feasible. Like: how many bracelets can I make a day? OK, multiply that by the margin and that is my profit per day, right? Well, er yes. You cannot fault this maths. But, rarely is it grounded in reality.

The targets are often unattainably high. Even when they are not, they are just as likely undesirably high. They require a constant slavish effort to meet them. An effort that doesn't allow time for all the other stuff that must be done to run and grow a business. So, guess what? Yep, you end up doing all that stuff in your spare time.

Of course, the trouble is 'how many' is not really the economics of handmaking. You should be working out how few. How few can I make to achieve my monetary targets? Make fewer of a higher quality, a more inspired design (you'll have more time to design -- if you're not making the whole time) and a more exclusive range to realise your dreams. That way, you are less likely to wind up a slave to your own business plan.